Condor Gold begins site preparation at Mina La India

Condor Gold has begun initial site preparation at the location of the processing plant facility at Mina La India in Nicaragua, it announced on Wednesday.

The AIM-traded firm said that included the main plant access road from a regional paved highway to the processing plant, in-plant roads, and a bypass road.

All key areas for the plant layout, from the stockpile area to the crushing and grinding machinery, to the leach tanks, a laydown area and a warehouse, would be cleared.

It said the total area being cleared was 11.26 hectares, which was expected to be completed in three to four months.

The company said it had purchased all of the land to proceed with construction in the area, and added that clearing activities would replace trees on a 10-to-1 basis, supported by Condor's tree nursery, which had around 7,000 trees.

“The initiation of site preparation at Mina La India marks a significant landmark in the company's development as it transitions from a gold exploration and development company to a gold producer,” said chairman and chief executive officer Mark Child.

“Two viewing platforms over the plant area have already been constructed, [and] 25 geotechnical test pits have been completed to aid with the design of the plant layout.

“The focus of the initial site preparation is clearing 11.26 hectares of scrub and trees which will host the key areas of the plant from the stockpile area to the comminution circuit, a laydown area, warehouses, main access road and internal roads.”

At 1149 GMT, shares in Condor Gold were up 2.11% at 48.5p.