Directorate Change

RNS Number : 2840U

Condor Resources PLC

20 December 2011

 

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

20th December 2011

Condor Resources Plc

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

Board Appointment

Condor (AIM: CNR), a gold exploration company focused on proving a large commercial reserve at its La India Project in Nicaragua is pleased to announce the appointment of a Non-Executive Director, Roger Davey, to the Board.

Roger Davey,  ACSM,  MSc.,  C.Eng.,  Eur.Ing.,  MIMMM. Roger is a Chartered Mining Engineer with over thirty five years' experience in the international mining industry. Up to December 2010, he was an Assistant Director and the Senior Mining Engineer at N M Rothschild (London) in the Mining and Metals project finance team, where for thirteen years he was responsible for the assessment of the technical risk associated with all the current and prospective project loans.  Prior to this his experience covered the financing, development and operation of both underground and surface mining operations in gold and base metals at senior management and Director level in South America, Africa and the United Kingdom.

Previous positions included Director, Vice president and General Manager of Minorco (AngloGold) subsidiaries in Argentina (1994 - 1997), where he had responsibility for the development of the Cerro Vanguardia, open pit gold-silver mine in Patagonia; Operations Director of Greenwich Resources plc, London (1984 - 1992), with gold interests in Sudan, Egypt and Australia; Production Manager for Blue Circle Industries in Chile (1979 - 1984); and various production roles from graduate trainee to mine manager, in Gold Fields of South Africa (1971 - 1978).  Roger is a graduate of the Camborne School of Mines, England (1970), with a Master of Science degree in Mineral Production Management from Imperial College, London University, (1979).  He is a Chartered Engineer (C.Eng.), a European Engineer (Eur. Ing.) and a Member of the Institute of Materials, Minerals and Mining (MIMMM). 

Mark Child, Executive Chairman and CEO of Condor Resources plc, commented:

"Roger Davey joins the board of Condor Resources at a time when La India Project in Nicaragua is on track to increase its JORC Resource to circa 1,500,000 oz gold in the next few weeks. Roger's previous experience as a Director of AngloGold's subsidiaries in Argentina, during which time he was General Manager of Cerro Vanguardia S.A. and was responsible for the development of the US$270m Cerro Vanguardia gold/silver open pit mine from the late drill stage, through full feasibility study, permitting, project financing to initiation of mining, should prove invaluable as Condor Resources progresses to the next stage of its development and assesses the economic potential of La India Project. Condor has engaged SRK Consulting (UK) Ltd to undertake a Concept Study. A mining engineer from SRK has recently undertaken a site visit, a report to the Board is due in January 2012. The purpose of the Concept Study is to provide the Board with a conceptual overview of the type of mine that may be possible at La India Project and its economic potential".

AIM Disclosures for Mr Davey are:

The directorships/ partnerships held by Roger Owen Davey, 66, in the previous five years are:

Current	Past
Alexander Mining plc	Serabi Mining plc (now called Serabi Gold plc)
EMED Mining Public Limited	GoldQuest Mining
Orosur Mining Inc.

There is no further information to be disclosed under Schedule Two (g) (i)-(viii) of the AIM Rules for Companies.

 - Ends -

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

Condor Resources plc	Mark Child, Executive Chairman and CEO [phone]	Luc English, Country Manager Nicaragua & El Salvador [phone]
Beaumont Cornish Limited	Roland Cornish. James Biddle [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 31^st May 2006 with the stated strategy to prove up JORC Resources in Nicaragua and El Salvador.  Condor has seven 100% owned concessions in La India Mining District ("La India Project"); three 100% owned concessions in three other project areas and 20% in the Cerro Quiroz concession in Nicaragua.  In El Salvador, Condor has 90% ownership of four licences in two project areas.

Condor's concession holdings in Nicaragua currently contain an attributable JORC compliant resource base of 1,342,000 ounces of gold equivalent at 6.0g/t in Nicaragua and an attributable 1,008,000 oz gold equivalent at 2.6g/t JORC compliant resource base in El Salvador. The Resource calculations are compiled by independent geologists SRK Consulting (UK) Limited and Ravensgate

Disclaimer

Neither the contents of the Company's website nor the contents of any website accessible from hyperlinks on the Company's website (or any other website) is incorporated into, or forms part of, this announcement.

 

END

 

 

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