Mar 13th 2013 - Edison Investment Research today published a report on Condor Gold (CNR.L, LSE:CNR, LON:CNR) entitled "PEA Report For La India Project". In summary, the report says:
On 5 March 2013, Condor Gold reported the completion of an initial preliminary economic assessment (PEA) on its 100%-owned La India gold project in Nicaragua. This shows total production of 1.46Moz at an average grade of 3.8g/t over 13 years at an average operating cost of US$575/oz, with an initial output rate of 172,000oz pa. The study shows a pre-production capital cost of US$180.5m and an IRR of 33%. In September 2012, SRK Consulting reported a 2.4Moz at 4.6g/t compliant resource statement for the project. This excludes results from the current drill programme, which appears likely to support a substantial increase in resources.
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