Condor Gold plc has entered into an unsecured term loan facility for up to £475,000 with Galloway Ltd. LA INDIA Galloway, owned by Burnbrae Group Ltd which is in turn owned by Condor’s chairman Jim Mellon, owns 26.13% of Condor’s issued ordinary share capital. Condor non-executive director Denham Eke is also a director of Burnbrae […]
Tag: La India – Nicaragua
Condor chairman increases holding
Condor Gold plc received notice from its chairman’s company to exercise warrants for 3,333,332 new ordinary shares of £0.001 each, at an issue price of 15p per share for £499,999.80. LA INDIA The notice came from Galloway Ltd, wholly owned by Burnbrae Group Ltd, which in turn is wholly owned by chairman Jim Mellon. Condor […]
Condor receives non-binding offers for La India
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 […]
Condor Gold raises £3.3m for La India sale
Condor Gold plc raised £3.3 million from an open offer of 12,156,374 shares and placing 3,004,999 new ordinary shares along with a previous £1m investment from the company’s chairman. FUNDRAISE The fundraise announced on 5 December allowed qualifying shareholders to subscribe for one open offer share for every six existing ordinary shares at a price […]
Condor Gold to sell La India
Condor Gold plc is selling the company’s flagship La India open pit project in Nicaragua. MINE EXPERTISE La India comprises 588 km2 of 12 contiguous and adjacent concessions. The open pit is de-risked and nearly ready for construction which will take 18 months from receipt of project financing. The company aims to sell the project […]
US sanctions ‘unlikely’ to affect Condor
Condor Gold plc today said that the United States’ sanctions imposed on the Nicaraguan General Directorate of Mines were unlikely to have any impact on the company’s current operations at La India. SANCTIONS On 24 October, the US Treasury Department extended its existing sanctions “to hold the Ortega-Murillo regime accountable for its continued attacks on […]