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Condor Resources upbeat on new mineral resource estimate for La India concession

Tuesday, January 4, 2011

Shares in Condor Resources fell by a penny to 9.75p this morning after the gold exploration group announced the results of a mineral resource estimation for its La India concession in Nicaragua.

The inferred mineral resource has come in at 4.58 million tonnes at 5.9 grams per ton for 868,000 ounces of gold over the majority of the mineralised veins.

Anticipation of the report, which Condor had promised by the close of 2010, helped to drive the company’s shares up from 2.3p to 11p between mid-October and the end of last year, making it one of AIM’s best performing stocks in 2010.

Original source: Stockopedia