Edison Investment Research Report

Further resource potential
Wednesday, September 19, 2012

Results from Condor Gold’s recently completed exploration programme at its La India gold district in Nicaragua show there is delineation of a gold region. The target was to lift the 1.62Moz compliant gold resources to 1.75Moz, with at least 0.5Moz in the indicated category (NI43-101), by mid-September 2012. However, this target is now expected to be comfortably exceeded. A preliminary economic assessment (PEA) is due in October, supporting commercial production. More importantly, it should justify wider exploration and confirm continuity of resources.