Name of the Project
La India openpit gold project.

Location
The project is located in the historic La India gold mining district, in Nicaragua.

Project Owner/s
Condor Gold.

Project Description
The project involves the development and exploitation of gold from the La India openpit, the associated mine site infrastructure and the construction and operation of a 2 800 t/d processing plant.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
Not stated.

Capital Expenditure
Not stated.

Planned Start/End Date
Not stated.

Latest Developments
Condor has made excellent progress advancing the La India project to a construction decision. It has acquired 85% of the land within the permitted La India openpit mine site infrastructure, including the location of the processing plant, tailings storage facility (TSF), openpit, waste dump area, explosives magazine, office and accommodation blocks, as well as other key component areas required for the mine.

This significantly derisks the project.

Considerable progress has also been made with the engineering studies, with 40% of the studies for the TSF and water retention ponds completed.

The site-wide water balance and surface-water management system are under way.

Preliminary designs for the layout of the mine site infrastructure, including, in some detail, the designs for the location of the processing plant, have been completed.

Mine and waste dump schedules for several mining scenarios have been completed.

The power studies have progressed.

It remains Condor’s intention to buy the remainder of the land this year and start site preparation while significantly advancing the engineering studies and placing a deposit on a processing plant

Key Contracts, Suppliers and Consultants
Tierra Group Inc (tailings storage facility and water retention ponds design); SRK Consulting (side water balance design, including a surface-water management plan).

Contact Details for Project Information
Condor Gold, tel +44 20 7493 2784 or email information@condorgold.com.