LONDON / November 15, 2017 / JMN Wire / Further to the announcement on 24th October 2017 regarding the receipt of conditional approval from the Listing Committee of the Toronto Stock Exchange (“TSX”), Condor Gold (AIM: CNR; OTCQX: CNFGF) is pleased to announce that it has filed a preliminary non-offering prospectus (“preliminary prospectus”) with the Ontario Securities Commission.
Mark Child, Chairman and CEO comments:
“The TSX listing will further build the profile of the Company and understanding of its potential among North American investors. Condor’s Central American focus and the robust attributes of its flagship La India Project make a compelling case for listing the Company on the TSX, the number one public market globally for mining companies.
“La India Project contains a mineral resource in the Indicated category of 9.6 million tonnes (“Mt”) at 3.5 grams per tonne (“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, together with mineral reserve in the Probable category of 6.9 Mt at 3.0 g/t for 675,000 million oz gold. The Indicated mineral resource is inclusive of the mineral reserve. The La India Project is permitting a 2,800 tonnes per day processing plant with a capacity to produce 100,000 oz gold per annum from a single open pit. Condor continues with its strategy of proving a major Gold District.”
The preliminary prospectus is a non-offering prospectus, which contains important information relating to the Company’s business and operations and ordinary shares, and is still subject to completion or amendment and final receipt and acceptance by the Ontario Securities Commission. Copies of the preliminary prospectus are available under the Company’s profile on SEDAR at www.sedar.com. The Company will update investors once this has been accepted in final form by the Ontario Securities Commission and the other conditions to listing on the TSX have been satisfied.
The Company will remain listed on the AIM market of the London Stock Exchange and its shares trade on the OTCQX.
Appointment of CFO
Condor also announces the appointment of Mr Jeffrey Karoly as Chief Financial Officer with immediate effect. Mr Karoly is a Chartered Accountant with over 20 years' experience in the mining industry.
Mark Child, Chairman and CEO comments:
"I am delighted that Mr Karoly has joined Condor Gold as Chief Financial Officer. Mr Karoly has extensive experience at CFO-level in listed companies, with a particular focus on South America since spending time there with Anglo American."
"Furthermore, he has first-hand experience of listing on the TSX and maintaining AIM / TSX dual listings. He strengthens the leadership team as Condor continues its plan to develop its 100 per cent-held La India Project through permitting and towards construction, expand the current mineral resource and prove a major Gold District."
Background
Jeffrey Karoly is a Chartered Accountant with a degree in Geology from the University of Bristol. He has worked in the mining sector for over 20 years including 11 years in corporate finance roles with Anglo American on three continents. Since 2008 he has been Chief Financial Officer of several listed junior resource companies including South American Ferro Metals, listed on the ASX in 2010, AIM & TSX-listed Horizonte Minerals (AIM / TSX: HZM) (2010 to 2016). In 2017 Mr Karoly listed Altus Strategies plc on AIM (AIM: ALS) and he is also Chief Financial Officer of Rupert Resources, listed on the TSX-V (TSX-V: RUP).
