Condor Gold (LON: CNR) shared are trading slightly higher on Friday after the company said it has made significant progress during the first quarter of 2021.
The gold exploration company reported a loss of £512,518 or £0.41 per share for the period compared to a £92,477 profit during Q1 2020. The loss represents a rise in the company’s administrative expenses.
However, Condor has a strong cash balance of £6.3 million while also advancing and de-risking the La India Project to a “shovel ready” status ahead of construction.
Ready to put what you’ve learned into practice?
Try IG’s platform with £10,000 in virtual funds and practise trading
without putting your own money at risk.
Try IG with a demo account →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
Learn the markets with IG Academy
Build your knowledge with IG Academy educational content, then use a
demo account to practise what you’ve learned on the IG platform.
Explore IG →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
See how trading works before risking real money
IG’s demo gives you access to thousands of markets and £10,000 in
virtual funds, so you can explore the platform and test your ideas first.
Open an IG demo →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
Turn trading theory into practical experience
Learn with IG Academy, explore charts and market tools, and practise
strategies in a simulated trading environment before going live.
Start practising with IG →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
Ready to take your learning further?
IG combines market education, analysis and an established trading platform,
giving you the tools to keep learning as you develop your trading skills.
Discover IG →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
Some of its other operational highlights included the completion of a private placement to raise proceeds of £4 million, the commencement of drilling of a 5,000m exploration program on the Cacao prospect, and the agreement to purchase a complete new Semiautogenenuous Mill from First Majestic Silver Corp for $6.5 million.
“Condor has made significant progress during the first quarter of 2021, advancing and de-risking the La India Project to a “shovel ready” status ahead of construction,” said Mark Child, the company’s Chairman and CEO.
“The purchase of a complete new SAG Mill package from First Majestic Silver for US$6.5M marks a step change for the project as the mill has been sized at 2,300tpd (0.8Mtpa) with initial production estimated to range from 80,000 to 100,000 oz gold per annum from the 3 fully permitted open pits,” added Child.
Condor Gold’s share price is currently trading 0.82% above Thursday’s close at 49.4p.
Should You Invest in Condor Gold Shares?
After a fall from the $2,000 level, could gold be set for another run higher? If you’re a gold investor, you won’t want to miss out on these stocks… Discover which companies our analysts are focusing their attention on for the coming months. If gold does move back to $2,000, these investments could see significant gains
