Last checked at 31 Oct 2008 07:00
31th October 2008
Condor Resources Plc
(the "Company")
Director Warrant Holding
The Company was notified on 29th October 2008 that on the 29th October 2008, Mark Child, the Non-Executive Chairman of the Company, acquired 11 million warrants in the Company at a price of 0.02pence per warrant. The exercise price of the warrants is 1 pence, the expiry date of the warrants is 26th June 2011. The warrants were part of an issue on 27th June 2008 to third parties as part of a placement fee for the raising of £2m by way of a private placement for the Company.
Mr Child has an interest in 11 million ordinary shares, representing 3.34% of the current issued share capital and total voting rights of the Company. Mr Child also holds employee options to subscribe for 1.25m ordinary shares at an option exercise price of 15 pence and with an expiry date of 30th May 2011.
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For further information please visit www.condorresourcesplc.com or contact:
Condor Resources plc Mark Child, Chairman
+44 (0) 20 7408 1067
Ambrian Partners Limited Hugh Oram +44 (0) 20 76344700
Farm Street Media Simon Robinson
+44 (0) 7887 985 671
About Condor Resources Plc:
Condor Resources plc is an AIM listed exploration company focussed on developing natural resource projects in Central America. The Company was Admitted to AIM on 31st May 2006 raising £4.9m to prove up JORC Resources in Nicaragua and El Salvador. Condor has three 100% owned licences and the option to earn an 80% interest in a further three licences contained within three project areas within Nicaragua. In El Salvador, Condor has 100% ownership of four licences in two project areas.
Since Admission to AIM, Condor has increased its JORC compliant resources from 354,500 ounces of gold and 18.3 million ounces of silver to 891,000 ounces of gold and 22.4 million ounces of silver. The Resource calculations are compiled by independent geologists Ravensgate and Geosure. Condor's objective is to prove a commercial resource.
Condor raised £2,000,000 before expenses in July 2008, which will allow the Company to continue developing its existing gold and silver projects in Central America and identify opportunities in the natural resource sector in other geographical locations.