Condor Gold PLC PDMR Share Purchase (6271K)

TIDMCNR

RNS Number : 6271K

Condor Gold PLC

12 April 2018

 
                                                                                               Condor Gold plc 
                                                                                                   7(th) Floor 
                                                                                         39 St. James's Street 
   12 April 2018                                                                                        London 
                                                                                                      SW1A 1JD 
                                                                                    Telephone [phone] 
                                                                                         Fax: [phone] 
 

Condor Gold plc

('Condor', 'Condor Gold' or 'the Company')

PDMR Share Purchase

Condor Gold (AIM: CNR; OTCQX;CNDGF; TSX: COG) announces that it has been informed today that on 11 April 2018, Jeffrey Karoly, Chief Financial Officer of the Company, purchased 45,000 ordinary shares of 20p each in the capital of the Company ("Ordinary Shares") at a price of GBP0.435 per Ordinary Share (the "Purchase").

Accordingly, Jeffrey Karoly now owns a shareholding of 72,412 Ordinary Shares.

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.

Jeffrey Karoly

 
 1    Details of the person discharging managerial 
       responsibilities / person closely associated 
---  -------------------------------------------------------- 
 a)   Name                      Jeffrey Karoly 
---  ------------------------  ------------------------------ 
 2    Reason for notification 
---  -------------------------------------------------------- 
 a)   Position / status         Chief Financial Officer 
---  ------------------------  ------------------------------ 
 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            45,000 Ordinary shares of 
       the financial             20 pence each in Condor Gold 
       instrument, type          plc 
       of instrument 
 
       Identification            ISIN GB00B8225591 
       code 
---  ------------------------  ------------------------------ 
      Nature of the             Purchase of new ordinary 
       transaction               shares as described above 
---  ------------------------  ------------------------------ 
 c)   Price(s) and                Price(s)      Volumes(s) 
       volumes(s)                 ------------  ----------- 
                                   43.5 pence    45,000 
                                  ------------  ----------- 
---  ------------------------  ------------------------------ 
 d)   Aggregated information    n/a 
---  ------------------------  ------------------------------ 
 e)   Date of the transaction   11 April 2018 
---  ------------------------  ------------------------------ 
 f)   Place of the              London Stock Exchange, AIM 
       transaction               (XLON) 
---  ------------------------  ------------------------------ 
 
 

- Ends -

For further information please visit www.condorgold.com or contact:

 
 Condor Gold plc     Mark Child, Executive 
                        Chairman and CEO 
                      [phone] 
 Beaumont Cornish      Roland Cornish and 
      Limited              James Biddle 
                       [phone] 
  Numis Securities 
      Limited          John Prior and James 
                              Black 
                         [phone] 
                               1000 
 Blytheweigh          Tim Blythe, Camilla 
                       Horsfall and Megan 
                               Ray 
                      [phone] 
 

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 Central America.

Condor published a Pre-Feasibility Study ("PFS") on its wholly owned La India Project in Nicaragua in December 2014, as summarized in the Technical Report (as defined below). The PFS details an open pit gold mineral reserve in the Probable category of 6.9 Mt at 3.0 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 summarized 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 National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("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 that is of a technical or scientific nature.

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: completion of the Placing and the Directors' Subscription, the admission of the Placing Shares and Directors' Shares on AIM, the use of proceeds of the Placing, the Company's receipt of permits for the La India Project, estimates of future production at the La India Project, and estimates of mineral resources and mineral reserves. 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 long-form prospectus dated December 21, 2017, 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 company news service from the London Stock Exchange

END

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April 12, 2018 02:01 ET (06:01 GMT)