Condor Gold PLC Grant of Options (9983K)
28 September 2016 - 2:10AM
UK Regulatory
TIDMCNR
RNS Number : 9983K
Condor Gold PLC
27 September 2016
Condor Gold Plc
7(th) Floor 39
St. James's
Street
London SW1A 1JD
Tel: +44 020
74932784 Fax:
+44
020 74938633
27(th) September 2016
Condor Gold Plc
("Condor" or "the Company")
Grant of Options
Condor Gold Plc, an AIM quoted gold exploration and development
company focused on permitting a base case 2,800tpd processing plant
with the capacity to produce 100,000 oz gold per annum and
demonstrating a District scale gold play at its La India Project in
Nicaragua, announces that on 26(th) September 2016 (the "Grant
Date") it granted 1.74million share options under the Company's
existing share options scheme to Directors and other staff.
The share options were granted by the remuneration committee and
approved by the Board as part of the Company's annual share option
scheme. The share options were granted to:
Mark Child 600,000
Jim Mellon 150,000
Roger Davey 150,000
Peter Flindell 150,000
Kate Harcourt 150,000
Dave Crawford 40,000
Other employees 500,000
The share options have an exercise price of 80 pence,
representing the 30 day VWAP of the shares and are exercisable for
a period of 5 years from the Grant Date, with the restriction that
no options can be exercised within 12 months of the Grant Date,
only up to 50% of the said options can be exercised in the
following 12 months and thereafter 100% of the said options can be
exercisable, provided that the grantee remains with the
Company.
Following the grant of the share options outlined above, the
share options outstanding will represent 10.88% of the 52,910,649
ordinary shares in issue.
- Ends -
For further information please visit www.condorgold.com or
contact:
Condor Gold plc Mark Child, Executive
Chairman and CEO
+44 (0) 20 74932784
Beaumont Cornish James Biddle/ Roland
Limited Cornish
+44 (0) 20 7628 3396
Numis Securities John Prior & James
Limited Black
+44 (0) 20 72601000
Farm Street Media
Simon Robinson
+44 (0) 7593 340107
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.
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCUBRNRNBAKUAR
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