StockMarketWire.com - Condor Gold's [LON:CNR] shares were up in late trading after it described the results from Whittle Consulting's enterprise optimisation study on La India project in Nicaragua as extremely positive.

The optimisation involves the application of advanced analytical techniques to construct a model of the operation from the ore bodies through mining and ore treatment processes to products sold to the market with a view to maximising a project's economics.

The study used the reserves/resources and technical studies used in the NI 43-101 compliant Pre-Feasibility Study ("PFS") and Preliminary Economic Assessments produced by independent mineral resource and mining consultants SRK Consulting Limited in December 2014.

Highlights of optimisation study:

· 22% increase in average gold production for the first 5 years, ranging from 91,000 oz to 165,000 oz gold per annum across three production scenarios

· The object of the optimisation is to bring forward future cashflows

· 29% increase to 866k oz gold from 674k oz gold of contained gold of Indicated ounces only in the base case La India open pit, as the pit pushes deeper

· 29% increase to 1,066k oz gold from 827k oz gold contained gold of Indicated and Inferred ounces within La India open pit + two feeder pits

· 18% increase to 1,544k oz gold from 1,313 oz gold of contained gold of Indicated and Inferred within all pits and underground

· The model shows payback improves to 2-3 production years across three production scenarios

· The recovered gold over life of mine ranges from 796,000 oz to 1,437,000 oz gold across the 3 production scenarios

· AlI in sustaining cash costs remain under US$700 per oz gold for all production scenarios

Chief executive Mark Child said: "The results of the optimisation study are extremely positive. Indicated ounces of gold within the main La India open pit increase by 29% to 866k oz gold as the pit pushes deeper. Contained gold within the pit shells increases 29% to 1,066k oz gold for the main pit and feeder pits. The annual gold production for the first 5 years increases on average 22% and ranges from 91,000 oz gold to 165,000 oz gold per annum versus the PFS and PEA studies.

"All in sustaining cash costs remain under US$700 per oz gold. The recovered gold over life of mine ranges from 796,000 oz to 1,437,000 oz gold. The average pay back of upfront capital costs is between two and three production years, highlighting the outstanding economics and versatility of La India Project.

"The optimisation study commenced in May 2015 to maximise the economics for four production scenarios at La India Project by bringing forward future cashflows and increasing production ounces. The main optimisation mechanisms applicable to the La India Project are: variable cut-off grade, stockpile use, grind-throughput-recovery, optimised pit and phasing, and multi-mine scheduling."

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Stratex International [LON:STI] said following completion of construction last month, loading of the first lift on to the heap leach pad, comprising 30,000 tonnes crushed material, is complete and it is anticipated that first gold pour at the Alintepe Gold Project will be in 2-3 weeks.

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Sirius Minerals [LON:SXX] said the York Potash Project now has all the planning approvals it needs to commence construction and is also continuing value engineering work with a number of contractors in order to prepare for future construction.

Its financing strategy is also advancing and the first phase is planned to be put in place during Q1 2016.

It said the Decision Notice from the North York Moors National Park Authority, which formally grants planning permission for the Company's mine and mineral transport system application, has been issued by the Authority and is with the Company.

The receipt of the Decision Notice is the formalisation of a major milestone for the Company and is the conclusion of over four years' work in the planning process.

Throughout this time the Project, which is expected to create over 1,000 jobs at full production, has enjoyed wide ranging support from business groups, parish councils, the local community, education providers, MPs, local enterprise partnerships and tourism groups.

As set out in its investor presentation (available on the Company website), Sirius is currently finalising its Definitive Feasibility Study ("DFS") which remains on track for completion this quarter.

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Jubilee Platinum [LON:JLP] has issued 5,160,000 ordinary shares following the exercise of warrants at 3.15975p each.

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Vedanta [LON:VED] has described recent media speculation about senior management changes as completely baseless. It says that Tom Albanese will continue to drive the Vedanta business and serve as the group CEO.

Cynthia Carroll, who joined the group in September, will advise the chairman's office on matters of strategic importance to the company.



At 3:51pm:

[LON:AQP] Aquarius Platinum Ltd share price was +0.13p at 11.38p

[LON:BEM] Beowulf Mining PLC share price was 0p at 3.65p

[LON:BKY] Berkeley Resources Ltd share price was -0.25p at 20.75p

[LON:CEY] Centamin PLC share price was +0.7p at 67.25p

[LON:CHL] Churchill Mining PLC share price was -1p at 20.38p

[LON:CNR] Condor Gold PLC share price was +2p at 44.5p

[LON:CZA] Coal of Africa Ltd share price was 0p at 3.25p

[LON:FDI] Firestone Diamonds PLC share price was -0.75p at 21.13p

[LON:FRES] Fresnillo PLC share price was +4.5p at 739p

[LON:GEMD] Gem Diamonds Ltd share price was -1p at 107.75p

[LON:HOC] Hochschild Mining PLC share price was -7.37p at 74.13p

[LON:JLP] Jubilee Platinum PLC share price was -0.22p at 3.93p

[LON:KMR] Kenmare Resources PLC share price was -0.05p at 1.79p

[LON:STI] Stratex International PLC share price was 0p at 1.95p

[LON:SXX] Sirius Minerals PLC share price was -0.12p at 17.88p

[LON:VED] Vedanta Resources PLC share price was -35.5p at 506.5p



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