Condor Gold boosted by studies on Nicaraguan project

Condor Gold said studies carried out at its Nicaraguan project have delivered positive results.

The London-listed company said the optimisation study on its La India project showed an increase in average gold production in the first five years of 22%, with a 29% increase in contained gold in the resource estimate.

Across the three scenarios considered in the study, the findings showed payback improves to between two and three production years.

"The results of the optimisation study are extremely positive,” said group chief executive Mark Child.

“Indicated ounces of gold within the main La India open pit increase by 29% to 866,000 ounces of gold as the pit pushes deeper.

“Contained gold within the pit shells increases 29% to 1.06m ounces gold for the main pit and feeder pits.”

Condor shares were up 4.61% to 44.46p at 1234 BST on Tuesday.