Investing

Condor Gold (AIM: CNR; TSX: COG) is pleased to announce the results and details of a Feasibility Study, sometimes referred to as a Bankable Feasibility Study (“2022 FS”) on the La India open pit. The 2022 FS supports a Probable Mineral Reserve of 7.3Mt at 2.56g/t gold for 602,000 oz gold and a mine with an Internal Rate of Return (“IRR”) of 23% and a post tax and post upfront capital cost net present value (“NPV”) of US$86.9 million using a discount rate of 5% and price of US$1,600/oz gold. The 2022 FS brings the level of confidence for the Project to the industry standard of engineering design, sufficient to support +/- 15% capital and operating cost estimates.