La India is a surface and underground project, owned by La India Gold S.A., a subsidiary of Condor Gold plc. (Condor). La India is located in the western flanks of the Central Highlands in northwestern Nicaragua, in the municipalities of Santa Rosa del Peñon and El Jicaral near the regional center of Leon, approximately 70 kilometers to the north of the capital city of Managua.
In August 2018, Condor received an Environmental Permit for the development, construction and operation of a processing plant with a capacity of up to 2,800 tonnes per day and associated mine infrastructure at the La India Project.
Following the grant of the Environmental Permit, Condor’s objective is to progress the redesigned mine site infrastructure for La India Open Pit to a bankable level of Feasibility Study (BFS). In addition, under the conditions of the Environmental Permit, Condor is to submit to the Ministry of the Environment and Natural Resources (MARENA) final engineered designs for several key components of the mine prior to construction. Subject to financing, completion of a BFS and completion of the final engineering designs, construction is expected to commence within 18 months of the grant of the Environmental Permit. The construction period is expected to take 18 to 24 months.
Royal Gold holds a 3.0% net smelter return royalty on gold and silver on La India.
Royal Gold acquired its royalty interest on October 25, 2007 as part of the acquisition of Battle Mountain Gold Exploration Corporation.