Condor Gold PLC Secondary Trading on the OTCQX Best Market (0538D)
24 April 2017 - 4:00PM
UK Regulatory
TIDMCNR
RNS Number : 0538D
Condor Gold PLC
24 April 2017
Condor Gold plc
7(th) Floor 39 St. James's Street
London SW1A 1JD
Telephone +44 020 74932794
Fax: +44 020 74938633
24(th) April 2017
Condor Gold plc
("Condor", "Condor Gold" or "the Company")
Secondary Trading on the OTCQX Best Market in the United
States
Condor Gold Plc (AIM:CNR; OTCQX: CNDGF), a gold exploration and
development company whose flagship La India Project in Nicaragua
hosts a high grade mineral resource of 18.08 Mtonnes at 4.0 g/t for
2.31 Moz gold, is pleased to announce it has qualified for and
expects trading to commence from 7.00am Eastern Time (ET) today on
the OTCQX(R) Best Market in the U.S.
Mark Child, Chairman and CEO, commented:
"I am delighted that Condor Gold has qualified to trade on the
OTCQX market in the United States following almost 11 years of
being listed on AIM, the junior market of the London Stock
Exchange. This will allow for greater exposure, accessibility and
liquidity in our shares from the U.S. investment community. It
makes sense to cross-trade in North America when Condor's flagship
asset is in Nicaragua, Central America. Condor's twin strategy of
permitting and constructing a base case 2,800tpd processing plant
with capacity to produce 100,000 oz gold p.a., while continuing to
increase the resource and demonstrate a major gold district, will
resonate with a new pool of capital in the U.S. that invests in
gold exploration and development companies."
The Company will trade on the OTCQX under the symbol "CNDGF."
U.S. investors can find current financial disclosure and Real-Time
Level 2 quotes for the Company on www.otcmarkets.com.
The OTCQX market, operated by OTC Markets Group Inc., is
reserved for established, investor-focused U.S. and global
companies that meet high financial standards, provide timely news
and disclosure to investors, and are sponsored by a professional
third-party advisor. OTCQX is considered by the SEC as an
"established public market" for the purpose of determining the
public market price of securities for resale in equity line
financings.
The Company has undertaken to limit the percentage of its issued
share capital represented by American Depositary Receipts or
Depositary Securities that will trade on the OTCQX to no more than
25% existing at any such time.
- Ends -
For further information please visit www.condorgold.com or
contact:
Condor Gold plc Mark Child, Executive
Chairman and CEO
+44 (0) 20 7493 2734
Beaumont Cornish Roland Cornish and
Limited James Biddle
+44 (0) 20 7628 3396
Numis Securities
Limited John Prior and James
Black
+44 (0) 20 7260
1000
Glenridge Partners John LaPorta
LLC +001 (404) 255-9348
Burns Figa & Victoria Bantz
Will PC +001 (303) 796-2626
Farm Street Media Simon Robinson
+44 (0) 7593 340107
About Condor Gold plc:
Condor Gold plc was admitted to AIM on 31st May 2006 and is
cross-traded in the U.S. on the OTCQX Best Market under the symbol
CNDGF. The Company is a gold exploration and development company
with a focus on Nicaragua in 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 6.9 Mt at 3.0 g/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 18.08 Mt
at 4.0 g/t for 2.31 M oz gold and 2.68 M oz silver at 6.2 g/t to
the CIM Code.
The resource calculations are compiled by independent geologists
SRK Consulting (UK) Limited for Nicaragua.
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
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