LONDON, November 15, 2017 /PRNewswire/ --
Further to the announcement on 24th October, 2017, regarding the receipt of conditional approval from the Listing Committee of the Toronto Stock Exchange ('TSX'), Condor Gold ('Condor', 'Condor Gold' or 'the Company') (AIM: CNR; OTCQX: CNFGF) is pleased to announce that it has filed a preliminary non-offering prospectus ('preliminary prospectus') with the Ontario Securities Commission.
Mark Child, Chairman and CEO comments:
"The TSX listing will further build the profile of the Company and understanding of its potential among North American investors. Condor's Central American focus and the robust attributes of its flagship La India Project make a compelling case for listing the Company on the TSX, the number one public market globally for mining companies.
"La India Project contains a mineral resource in the Indicated category of 9.6 million tonnes ('Mt') at 3.5 grams per tonne ('g/t') for 1.08 million oz gold and a total mineral resource in the Inferred category of 8.5 Mt at 4.5 g/t for 1.23 million oz gold, together with mineral reserve in the Probable category of 6.9 Mt at 3.0 g/t for 675,000 million oz gold. The Indicated mineral resource is inclusive of the mineral reserve. The La India Project is permitting a 2,800 tonnes per day processing plant with a capacity to produce 100,000 oz gold per annum from a single open pit. Condor continues with its strategy of proving a major Gold District."
The preliminary prospectus is a non-offering prospectus, which contains important information relating to the Company's business and operations and ordinary shares, and is still subject to completion or amendment and final receipt and acceptance by the Ontario Securities Commission. Copies of the preliminary prospectus are available under the Company's profile on SEDAR at http://www.sedar.com. The Company will update investors once this has been accepted in final form by the Ontario Securities Commission and the other conditions to listing on the TSX have been satisfied.
The Company will remain listed on the AIM market of the London Stock Exchange and its shares trade on the OTCQX.
About Condor Gold plc:
Condor Gold plc was admitted to AIM on 31st May, 2006. The Company is a gold exploration and development company with a focus on Central America.
Condor published a Pre-Feasibility Study ('PFS') on its wholly owned La India Project in Nicaragua in December, 2014, as summarized in the Technical Report (as defined below). The PFS details an open pit gold mineral reserve in the Probable category of 6.9 Mt at 3.0 g/t gold for 675,000 oz gold, producing 80,000 oz gold per annum for seven years. La India Project contains a mineral resource in the Indicated category of 9.6 Mt at 3.5 g/t for 1.08 million oz gold and a total mineral resource in the Inferred category of 8.5 Mt at 4.5 g/t for 1.23 million oz gold. The Indicated mineral resource is inclusive of the mineral reserve.
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.
Technical Information
The disclosure contained in this news release of a scientific or technical nature has been summarized or extracted from the technical report titled "Technical Report on the La India Gold Project, Nicaragua, December 2014", dated November 13, 2017 with an effective date of December 21, 2014 (the "Technical Report"), prepared in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101"). The Technical Report was prepared by or under the supervision of Tim Lucks, Principal Consultant (Geology & Project Management), Gabor Bacsfalusi, Principal Consultant (Mining), Benjamin Parsons, Principal Consultant (Resource Geology), each of by SRK Consulting (UK) Limited, and Neil Lincoln of Lycopodium Minerals Canada Ltd., each of whom is an independent Qualified Person as such term is defined in NI 43-101.
David Crawford, Chief Technical Officer of the Company and a Qualified Person as defined by NI 43-101, has approved the written disclosure in this press release.
Forward Looking Statements
Certain statements in this news release constitute forward-looking information under applicable Canadian securities laws. These statements relate to future events or future performance and include, but are not limited to, estimates of mineral resources and mineral reserves, the listing of ordinary shares on the TSX and benefits thereof, future gold production at the La India Project and the continued listing of the Company on AIM. All statements other than statements of historical fact may be forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "plan", "continue", "objectives", "strategies", "estimate", "expect", "may", "will", "project", "predict", "potential", "targeting", "intend", "could", "might", "should", "believe" and similar expressions. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. The Company believes the expectations reflected in those forward-looking statements are reasonable but no assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this news release should not be unduly relied upon. The Company does not undertake any obligation to update forward-looking statements except as required by applicable securities laws.
For further information please visit http://www.condorgold.comor contact:
Condor Gold plc
Mark Child
Executive Chairman and CEO
+44(0)20-7493-2784
Beaumont Cornish Limited
Roland Cornish and James Biddle
+44(0)20-7628-3396
Numis Securities Limited
John Prior and James Black
+44(0)20-7260-1000
Blytheweigh
Tim Blythe, Camilla Horsfall and Megan Ray
+44(0)20-7138-320
