Holding(s) in Company

RNS Number : 5182M

Condor Gold PLC

21 January 2016

 

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

 21 January 2016

Condor Gold plc

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

Holding(s) In Company

Condor (AIM: CNR), the Nicaraguan focused gold exploration company, was notified yesterday that, as of 19 January 2016, Oracle Management Limited was interested in 3,704,645 Ordinary Shares representing 8.09% of Condor's issued share capital as a result of the acquisition of 150,000 Ordinary Shares.

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

Condor Gold plc	Mark Child, Executive Chairman and CEO [phone]
Beaumont Cornish Limited	Roland Cornish/ James Biddle [phone]
Numis Securities Limited	John Prior/James Black [phone]
Farm Street Media	Simon Robinson [phone]

About Condor Gold plc:

Condor Gold plc was admitted to AIM on 31^st May 2006. The Company is a gold exploration and development company with a focus on Central America.

Condor completed a Pre-Feasibility Study (PFS) and two Preliminary Economic Assessments (PEA) on La India Project in Nicaragua in December 2014. The PFS details an open pit gold mineral reserve of 6.9M tonnes at 3.0g/t gold for 675,000 oz gold producing 80,000 oz gold p.a. for 7 years. The PEA for the open pit only scenario details 100,000 oz gold production p.a. for 8 years whereas the PEA for a combination of open pit and underground details 140,000 oz gold production p.a. for 8 years. La India Project contains a total attributable mineral resource of 18.4Mt at 3.9g/t for 2.33M oz gold and 2.68M oz silver at 6.2g/t to the CIM Code.

In El Salvador, Condor has an attributable 1,004,000 oz gold equivalent at 2.6g/t JORC compliant resource. The resource calculations are compiled by independent geologists SRK Consulting (UK) Limited for Nicaragua and Ravensgate and Geosure for El Salvador.

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.

 

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