{"type":"rich","version":"1.0","provider_name":"Transistor","provider_url":"https://transistor.fm","author_name":"Company Interviews","title":"Condor Gold (LSE:CNR) - Undervalued Gold Asset in Nicaragua Primed for Acquisition in Rising Market","html":"","width":"100%","height":180,"duration":1206,"description":"Interview with Mark Child, CEO of Condor Gold PLCOur previous interview: https://www.cruxinvestor.com/posts/condor-gold-cnr-primed-for-a-take-over-2557Recording date: 16th September 2024Condor Gold PLC, a London and Toronto-listed mining company, presents an intriguing investment opportunity in the gold sector with its La India project in Nicaragua. The company has positioned itself as a potential acquisition target, offering investors exposure to a high-grade, fully-permitted gold asset in a rising precious metals market.The La India project boasts a substantial 2.4 million ounce gold resource, with an impressive grade of 4 grams per tonne. Half of this resource is open pit, while the other half is underground. Condor Gold has completed a bankable feasibility study on the main pit, which represents about 40% of the total ounces.CEO Mark Child outlines three production scenarios:Reserve Case: 82,000 ounces of gold per annumOpen Pit Scenario: 120,000 ounces per annum (including feeder pits)Combined Open Pit and Underground: 150,000 ounces per annumA key strength of the project is its \"shovel ready\" status. Condor Gold has secured all necessary permits for construction and operation, as well as acquired all required surface rights, investing $45 million in land acquisition across 55 plots. This comprehensive approach significantly de-risks the project for potential buyers.The economic potential of La India is substantial, particularly in the current gold price environment. At $1,600/oz gold, the project demonstrates robust economics with a 23% IRR for the reserve pit. At $2,000/oz gold, EBITDA more than doubles to approximately $750 million for the reserve pit alone. The high-grade nature of the deposit provides significant leverage to gold prices, with minimal change in operating costs as prices rise.One of the most attractive aspects of the La India project is its relatively modest capital expenditure requirement of $105 million. This low initial capital outlay...","thumbnail_url":"https://img.transistorcdn.com/1wv-MFlQAgnm-ca64e5kK4984dZB0os8-HJdRVsI74M/rs:fill:0:0:1/w:400/h:400/q:60/mb:500000/aHR0cHM6Ly9pbWct/dXBsb2FkLXByb2R1/Y3Rpb24udHJhbnNp/c3Rvci5mbS9zaG93/LzEzNTcyLzE2MjM5/NTQyMDctYXJ0d29y/ay5qcGc.webp","thumbnail_width":300,"thumbnail_height":300}