Condor Gold plc Announces Its Audited Results for the Year Ended 31st December 2015 and Notice of Its Annual General Meeting
(firmenpresse) - LONDON, ENGLAND -- (Marketwired) -- 05/26/16 -- Condor Gold plc (''Condor" or "the Company") (AIM: CNR) is pleased to announce its results for the year ended 31st December 2015.
Highlights:
Post Period Highlights:
Mark Child, Chairman and Chief Executive of Condor Gold commented: "I am delighted with the progress that Condor Gold has made over the last financial year and the start of the current one with the conclusion of the company's successful fund raising of GBP 2.818 million. Much of 2015 was spent executing a twin strategy of de-risking the La India Project, Nicaragua, by preparing and submitting an Environmental Impact Assessment ("EIA") to the Ministry of the Environment and Natural Resources ("MARENA") and developing and implementing a land acquisition policy to acquire approximately 800 hectares of rural land for the site infrastructure. We continued to demonstrate a District scale gold deposit at La India Project through low cost exploration and enhancing the economics of the PFS and PEAs by engaging Whittle Consulting Limited ("Whittle") to optimise the mine schedules in the PFS and PEAs to maximum Net Present Value.
"During 2016, Condor will continue to de-risk La India Project by obtaining permits for a 2,800tpd processing plant capable of producing 100,000 oz gold per annum and acquire the surface rights to the rural land. The Company will continue to demonstrate the District scale nature of La India gold deposit by increasing the geochemistry soil sampling program from 71sq km completed in 2015 to cover the entire 313 sq km of La India Project, while completing a detailed geological map over the whole area."
A full copy of the Company's Audited Annual Accounts for the year ended 31 December 2015 has been posted to all shareholders and is also available on the Company's website, .
The notice of the annual general meeting has been posted to shareholders and the meeting is to be held at The Institute of Directors, 116 Pall Mall, London, SW1Y 5ED at 11:30 a.m. on 23 June 2016.
For further information please visit .
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 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.
Contacts:
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
Farm Street Media
Simon Robinson
+44 (0) 7593 340107
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Datum: 26.05.2016 - 06:30 Uhr
Sprache: Deutsch
News-ID 473748
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LONDON, ENGLAND
Kategorie:
Mining & Metals
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