Condor Gold plc has received non-binding offers with further expected for its flagship La India gold project in Nicaragua.
NON-DISCLOSURE AGREEMENTS
The company is in the first phase of the sales process with “various parties having conducted site visits and others ongoing”.
“Three formal expressions of interest including two non-binding offers (subject to further due diligence) have been received by the company and further offers are expected as nine companies are under a non-disclosure agreement (NDA),” added Condor.
The nine companies have access to a virtual data room including all drill data, technical studies to feasibility study level, details of permits to construct and operate a mine and financial models.
Chief executive Mark Child, who is hosting site visits in Nicaragua for gold producers conducting due diligence, added that the board was confident of reaching a binding agreement.