Condor Gold PLC (LON:CNR) continues to develop its La India gold project in in Nicaragua and a technical review for its environmental permit for the 2,800tpd (tonnes per day ) processing plant has been passed.
The EIA was submitted last year for the facility, which will be capable of producing around 100,000 oz gold per annum at an all in sustaining cash cost of US$700 per oz gold
Condor is now preparing for a public consultation, expected to be after the presidential elections in Nicaragua, due to be held on November 6 this year, it told interim results.
Other highlights of the six months to end June, were that a 242 sq km soil survey began in June 2016 over the remainder of 313 sq km La India Project aimed at demonstrating the site as a district play.
In July, it said sampling had identified a potential gold-bearing corridor 9km north of the planned mine when it was following up targets identified by field work last year.
A rock chip of 53.8g/t gold was found at the so-called Los Limones prospect and geological mapping has identify a quartz vein of 500 metres strike length.
In keeping with a company at this stage, the loss for the six months was £1.16mln compared to a loss of £1.45mln in the same period last year.