VANCOUVER (miningweekly.com) – Nicaragua-focused project developer Condor Gold has taken up a dual listing on the TSX starting on Monday morning, signifying a significant milestone for the company to provide a local trading platform for the company’s Canadian investors.
Dovetailing with Condor’s existing LSE Aim and OTCQX listings, the company assumed its listing on the TSX under the ticker symbol ‘COG’, through a non-offering long-form prospectus.
“The vast majority of mining and exploration companies operating in South America are TSX/TSX-V listed and, in my opinion, Canadian investors will find Condor a compelling investment that is undervalued compared to its TSX/TSX-V listed peer group,” chairperson and CEO Mark Child said in a statement.
Condor is focused on its fully owned La India project, in pro-mining Nicaragua, where it is currently navigating the final stages of permitting a base case processing plant of between 2 300 t/d and 2 800 t/d, with the capacity to produce 100 000 oz/y of gold.
Child advised that he had held a constructive meeting with the Nicaraguan Minister of Energy and Mines, who re-confirmed the government’s support for the La India project. Subsequently, Condor has held further technical meetings with the Ministry of Energy and Mines and the Nicaraguan Ministry of the Environment.
According to a 2014 prefeasibility study, La India holds an openpit constrained probable gold reserve of 6.9-million metric tonnes grading 3 g/t gold for 675 000 oz gold, producing 80 000 oz/y for seven years. La India contains a mineral resource in the indicated category of 9.6-million tonnes grading 3.5 g/t gold for 1.08-million ounces of yellow metal and an inferred resource of 8.5-million tonnes grading 4.5 g/t for 1.23-million ounces of gold.