Retirement of Director

RNS Number : 8869O

Condor Resources PLC

08 July 2010

 



Condor Resources Plc 7th Floor 39 St. James's Street London SW1A 1JD Telephone [phone] Fax: [phone]

Embargoed Until 9.00am on Thursday 8th July 

8^th July 2010

Condor Resources Plc

(''Condor'' or ''the Company'')

Directorate Change

Condor Resources Plc, (AIM:CNR), announces that Mr Pierre Moussa, a Non Executive Director of Condor has decided not to stand for re-election at the Company's Annual General Meeting, which is being held today. At the age of 88, he has taken the decision to retire and will stand down from the Board of Condor at the conclusion of the AGM.

Mr Moussa joined the Board of the Company in 2008.

Mark Child, Non Executive Chairman of Condor Resources, commented: "Pierre has provided the Board with invaluable advice during his tenure as a Director and I would like to thank him on behalf of the Board for the support he has given me and the contribution he has made during his time as a Director."  

 
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For further information please visit www.condorresourcesplc.com or contact:

Condor Resources plc	Mark Child, Chairman [phone]	Luc English, Country Manager Nicaragua & El Salvador [phone]
Ambrian Partners Limited	Richard Swindells and 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 natural 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 eight 100% owned licenses contained within four project areas in Nicaragua. In El Salvador, Condor has 100% ownership of four licences in two project areas.

Since Admission to AIM, Condor has increased its JORC compliant inferred resources from 350,000 ounces of gold and 18 million ounces of silver to 788,000 ounces of gold and 22 million ounces of silver. The Resource calculations are compiled by independent geologists Ravensgate and Geosure. As announced on 14^th June 2010 Condor's net cash position was circa £658,000 at the 31^st December 2009. Condor also owns approximately £1,496,000 worth of shares in Grafton Resources investments Limited as a result of a share exchange approved by shareholders at an AGM on 12^th June 2009. 

 

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