TIDMCNR
RNS Number : 2506I
Condor Gold PLC
22 November 2018
Condor Gold plc
7th Floor
39 St. James's Street
London
SW1A 1JD
November 22, 2018
Condor Gold plc
("Condor", "Condor Gold" or the "Company")
Director Share Purchase
Condor Gold (AIM: CNR; OTCQX:CNDGF; TSX: COG) announces that it
has been informed today that on 22 November 2018, Mark Child,
Executive Chairman of the Company, and Jim Mellon, a Non-Executive
Director of the Company, respectively purchased 90,000 Ordinary
shares and 952,380 Ordinary shares of 20p each in the capital of
the Company ("Ordinary share" or "Ordinary shares"), both at a
price of GBP0.22 per Ordinary share (the "Purchase") and for a
total cost of GBP19,800 and GBP209,524 respectively
Accordingly, Mark Child now owns directly and indirectly a
shareholding of 4,052,500 Ordinary shares or 6.0% of the Company
and Jim Mellon now owns directly and indirectly a shareholding of
4,703,105 Ordinary shares*.
* Jim Mellon now owns a direct and indirect aggregate
shareholding of 4,703,105 Ordinary Shares or 7.0% of the Company.
The direct interest is in 2,889,883 Ordinary Shares and the
indirect interest is in 1,813,222 Ordinary Shares held through
Galloway Limited. Galloway Limited is wholly owned by Burnbrae
Group Limited which is, in turn, wholly owned by Jim Mellon.
The notification below, made in accordance with the requirements
of the EU Market Abuse Regulations, provides further detail in
respect of the transaction as described above.
Mark Child
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Mark Child
-------------------------- -----------------------------------------
2 Reason for notification
---------------------------------------------------------------------
a) Position / status Executive Chairman
-------------------------- -----------------------------------------
b) Initial notification Initial
/Amendment
-------------------------- -----------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
---------------------------------------------------------------------
a) Name Condor Gold plc
-------------------------- -----------------------------------------
b) LEI 213800PFKETQA86RHL82
-------------------------- -----------------------------------------
4 Details of the transaction(s): section to be repeated
for (i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions
have been conducted
---------------------------------------------------------------------
a) Description of the 90,000 Ordinary shares of 20 pence
financial instrument, each in Condor Gold plc
type of instrument
Identification code ISIN GB00B8225591
-------------------------- -----------------------------------------
Nature of the transaction Purchase of Ordinary shares as described
above
-------------------------- -----------------------------------------
c) Price(s) and volumes(s) Price(s) Volumes(s)
22 pence 90,000
-----------
-------------------------- -----------------------------------------
d) Aggregated information n/a
-------------------------- -----------------------------------------
e) Date of the transaction 22(nd) November 2018
-------------------------- -----------------------------------------
f) Place of the transaction London Stock Exchange, AIM (XLON)
-------------------------- -----------------------------------------
Jim Mellon
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Jim Mellon
-------------------------- -----------------------------------------
2 Reason for notification
---------------------------------------------------------------------
a) Position / status Non-Executive Director
-------------------------- -----------------------------------------
b) Initial notification Initial
/Amendment
-------------------------- -----------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
---------------------------------------------------------------------
a) Name Condor Gold plc
-------------------------- -----------------------------------------
b) LEI 213800PFKETQA86RHL82
-------------------------- -----------------------------------------
4 Details of the transaction(s): section to be repeated
for (i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions
have been conducted
---------------------------------------------------------------------
a) Description of the 952,380 Ordinary shares of 20 pence
financial instrument, each in Condor Gold plc
type of instrument
Identification code ISIN GB00B8225591
-------------------------- -----------------------------------------
Nature of the transaction Purchase of Ordinary shares as described
above
-------------------------- -----------------------------------------
c) Price(s) and volumes(s) Price(s) Volumes(s)
22 pence 952,380
-----------
-------------------------- -----------------------------------------
d) Aggregated information n/a
-------------------------- -----------------------------------------
e) Date of the transaction 22(nd) November 2018
-------------------------- -----------------------------------------
f) Place of the transaction London Stock Exchange, AIM (XLON)
-------------------------- -----------------------------------------
- Ends -
For further information please visit www.condorgold.com or
contact:
Condor Gold plc Mark Child, 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
Blytheweigh Tim Blythe, Camilla Horsfall and Megan
Ray
+44 (0) 20 7138 3204
About Condor Gold plc:
Condor Gold plc was admitted to AIM on 31 May 2006. The Company
is a gold exploration and development company with a focus on
Nicaragua.
In August 2018, the Company announced that the Ministry of the
Environment had granted the Company the Environmental Permit ("EP")
for the development, construction and operation of a processing
plant with capacity to process up to 2,800 tonnes per day at its
wholly-owned La India gold project in Nicaragua ("La India
Project"). The EP is considered to be the master permit for mining
operations in Nicaragua. Condor published a Pre-Feasibility Study
("PFS") on La India Project in December 2014, as summarised in the
Technical Report (as defined below). The PFS details an open pit
gold mineral reserve in the Probable category of 6.9 million tonnes
("Mt") at 3.0 grams per tonne ("g/t") gold for 675,000 oz gold,
producing 80,000 oz gold per annum for seven years. La India
Project contains a mineral resource in the indicated category of
9.6 Mt at 3.5 g/t for 1.08 million oz gold and a total mineral
resource in the inferred category of 8.5 Mt at 4.5 g/t for 1.23
million oz gold. The indicated mineral resource is inclusive of the
mineral reserve.
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.
Technical Information
Certain disclosure contained in this news release of a
scientific or technical nature has been summarised or extracted
from the technical report entitled "Technical Report on the La
India Gold Project, Nicaragua, December 2014", dated November 13,
2017 with an effective date of December 21, 2014 (the "Technical
Report"), prepared in accordance with NI 43-101. The Technical
Report was prepared by or under the supervision of Tim Lucks,
Principal Consultant (Geology & Project Management), Gabor
Bacsfalusi, Principal Consultant (Mining), Benjamin Parsons,
Principal Consultant (Resource Geology), each of SRK Consulting
(UK) Limited, and Neil Lincoln of Lycopodium Minerals Canada Ltd.,
each of whom is an independent Qualified Person as such term is
defined in NI 43-101.
David Crawford, Chief Technical Officer of the Company and a
Qualified Person as defined by NI 43-101, has approved the written
disclosure in this press release.
Forward Looking Statements
All statements in this press release, other than statements of
historical fact, are 'forward-looking information' with respect to
the Company within the meaning of applicable securities laws,
including statements with respect to: the mineral resources,
mineral reserves and future production rates and plans at the La
India Project. Forward-looking information is often, but not
always, identified by the use of words such as: "seek",
"anticipate", "plan", "continue", "strategies", "estimate",
"expect", "project", "predict", "potential", "targeting",
"intends", "believe", "potential", "could", "might", "will" and
similar expressions. Forward-looking information is not a guarantee
of future performance and is based upon a number of estimates and
assumptions of management at the date the statements are made
including, among others, assumptions regarding: future commodity
prices and royalty regimes; availability of skilled labour; timing
and amount of capital expenditures; future currency exchange and
interest rates; the impact of increasing competition; general
conditions in economic and financial markets; availability of
drilling and related equipment; effects of regulation by
governmental agencies; the receipt of required permits; royalty
rates; future tax rates; future operating costs; availability of
future sources of funding; ability to obtain financing and
assumptions underlying estimates related to adjusted funds from
operations. Many assumptions are based on factors and events that
are not within the control of the Company and there is no assurance
they will prove to be correct.
Such forward-looking information involves known and unknown
risks, which may cause the actual results to be materially
different from any future results expressed or implied by such
forward-looking information, including, risks related to: mineral
exploration, development and operating risks; estimation of
mineralisation, resources and reserves; environmental, health and
safety regulations of the resource industry; competitive
conditions; operational risks; liquidity and financing risks;
funding risk; exploration costs; uninsurable risks; conflicts of
interest; risks of operating in Nicaragua; government policy
changes; ownership risks; permitting and licencing risks; artisanal
miners and community relations; difficulty in enforcement of
judgments; market conditions; stress in the global economy; current
global financial condition; exchange rate and currency risks;
commodity prices; reliance on key personnel; dilution risk; payment
of dividends; as well as those factors discussed under the heading
"Risk Factors" in the Company's annual information form for the
fiscal year ended December 31, 2017 dated March 29, 2018, available
under the Company's SEDAR profile at www.sedar.com.
Although the Company has attempted to identify important factors
that could cause actual actions, events or results to differ
materially from those described in forward-looking information,
there may be other factors that cause actions, events or results
not to be as anticipated, estimated or intended. There can be no
assurance that such information will prove to be accurate as actual
results and future events could differ materially from those
anticipated in such statements. The Company disclaims any intention
or obligation to update or revise any forward-looking information,
whether as a result of new information, future events or otherwise
unless required by law.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
DSHEALFAASDPFFF
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November 22, 2018 09:56 ET (14:56 GMT)
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