Last checked at 21 Jul 2009 16:00
21 July 2009
Condor Resources plc
("Condor" or "the Company")
Result of Annual General Meeting
The board of directors of Condor ("Board") is pleased to announce that at its Annual General Meeting ("AGM") held at 11.00 a.m. today all of the resolutions set out in the notice of AGM dated 25 June 2009 were passed, all by a majority of at least 215 million votes ( or 45.5 per cent. of the Company's total voting rights).
At the AGM, the Chairman of Condor, Mark Child, gave the following update:
"The Company has seven applications pending for exploration concessions in Nicaragua, of which four were made in June and July 2009. The Board expects a number of these concessions to be granted in due course. The aim is to build an attractive portfolio of concessions in Nicaragua.
"The policy of the new government in the Republic of El Salvador towards exploration and exploitation in the metallic mining sector remains unclear to the Board.
"The Board continues actively to seek and review acquisition opportunities for the Company both from within the Grafton Resources Investments Limited portfolio and from elsewhere in order to diversify the geographical and political risk from the Company's El Salvador assets and to create shareholder value."
Enquiries:
| Condor Resources Plc | Mark Child, Chairman +44 (0) 20 7408 1067 | ||
| Ambrian Partners Limited | Richard Swindells +44 (0) 20 7634 4700 | ||
| Farm Street Media | Simon Robinson +44 (0) 20 7099 2212 +44 (0) 7593-340107 |
About Condor Resources Plc
Condor Resources plc is an AIM listed exploration company focused on developing natural resource projects in Central America. The Company was admitted to AIM on 31st May 2006 raising GBP4.9m to prove up JORC Resources in Nicaragua and El Salvador. Condor has three 100% owned licenses contained within two project areas in 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 inferred resources from 350,000 ounces of gold and 18 million ounces of silver to 788,000 ounces of gold and 22 million ounces of silver. The Resource calculations are compiled by independent geologists Ravensgate and Geosure.