Condor Gold Plc Announces 2023 Audited Results and Upcoming AGM

Condor Gold Plc shared its audited financial outcomes for the fiscal year ending December 31, 2023, and disclosed the schedule for its Annual General Meeting (AGM). The AGM will convene at 3:00 p.m. on June 28, 2024, in Godalming, Surrey, UK. Along with the AGM details, highlights of the company’s performance and strategic developments were also provided in the announcement.

The report outlined continued interest in the company’s assets, with significant progress in negotiations related to asset sales. Condor Gold reported receiving five non-binding offers and completing three site visits as of December 2023. An October 2022 feasibility study underscored the potential economic viability of the La India open pit, forecasting a robust return on investment based on current gold prices. The study estimates an average gold production of 81,545 ounces per annum over the first six years, with an internal rate of return of 23% calculated at a gold price of $1,600 per ounce.

Additionally, the company successfully acquired most of the necessary land for the La India project and completed the site clearance for future infrastructural developments. Other exploratory achievements included identifying new gold prospects near the Cacao deposit and along the El Paraiso vein trend, enhancing the project’s potential output and longevity.