Edison Investment Research Report

Exploration heading to production
Tuesday, November 20, 2012

Following publication of the NI 43-101 technical report by SRK on the current compliant 2.38Moz gold resource statement for its La India project in Nicaragua, Condor Gold has begun a new exploration campaign. There are three rigs on site and the proposed 7,000m programme’s primary aim is to upgrade the indicated category open-pit resource on the La India vein set from 0.53Moz to over 0.9Moz. The second aim is to extend this open-pit target to the north. Condor expects to provide a feasibility study to support a fast-track low-cost production project.