Directors Dealing

RNS Number : 0122Z

Condor Resources PLC

06 January 2011

 

6 January 2011

Condor Resources PLC ("the Company")

Change in Holdings

and

Director's Dealings

The Company announces that it has been informed on 4^th January 2011 that Sunley Holdings plc no longer has a notifiable interest in the issued voting share capital of the Company.

The Company was also notified that Mr. Klaus Eckhof, a non-executive director of the Company, on 4^th and 5^th January 2011 sold a total of 10,160,000 ordinary shares of 1 pence each in the issued share capital of the Company, equivalent to 2.06 per cent. of the issued voting share capital.  Details of the disposals are given in the table below:

Date	No. of shares	Price (p)
4 January 2011	260,000	9.00
4 January 2011	9,000,000	8.25
5 January 2011	900,000	7.00

Mr Eckhof has decided to sell these shares for taxation reasons.

Following the sale, Mr Eckhof no longer has an interest in the issued voting share capital of the Company. Mr Eckhof holds employee options to subscribe for 1,750,000 ordinary shares at an option price of 15 pence and with an expiry date of 30 May 2011 and employee options to subscribe for 3,000,000 ordinary shares at an option price of 1 pence and with an expiry date of 23 December 2013.

For further information please contact:

Condor Resources plc           Mark Child, Chairman

[phone]

Ambrian Partners Limited       Samantha Harrison

[phone]

Farm Street Media                  Simon Robinson

[phone]

About Condor Resources Plc:

Condor Resources plc is an AIM listed exploration company focused on developing gold and silver resource projects in Central America.  The Company was admitted to AIM on 31st May 2006 with the stated strategy to prove up JORC Resources in Nicaragua and El Salvador.  Condor has four 100% owned licenses and 80% of La India concession in La India Mining District; three 100% owned licences in three other project areas and 20% in the Cerro Quiroz concession in Nicaragua.  In El Salvador, Condor has 100% ownership of four licences in two project areas.

Condor's concession holdings currently contain a JORC compliant inferred resource base of 909,000 ounces of gold in Nicaragua and 747,000 ounces of gold and 22 million ounces of silver in El Salvador. The Resource calculations are compiled by independent geologists Ravensgate, Geosure and SRK.

 

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