Condor Gold posts a loss of £1.2m for the six months to the end of June - down from £1.4m last time. Revenues were nil - unchanged from a year ago.
Condor said it completed a pre-feasibility study and two preliminary economic assessments on La India project in Nicaragua in December 2014.
Whittle Consulting Limited produced a mining optimisation study in January 2016, which produced an average NPV US$196million and average IRR of 30% across four production scenarios.
Production ranges from 101,000 oz gold per annum from a single open pit to 165,000 oz gold per annum once feeder pits and underground production is included. Condor has applied to permit a base case with a processing plant of 2,800 tonnes per day capable of producing 100,000 oz gold per annum for the first 5 years of production from a single open pit.