Welcome to our dedicated page for Condor Gold news (Ticker: CNDGF), a resource for investors and traders seeking the latest updates and insights on Condor Gold stock.
The CNDGF news feed on Stock Titan aggregates regulatory announcements and corporate communications relating to Condor Gold plc, a gold ore mining company that has undergone a recommended acquisition by Metals Exploration plc. These news items document the offer process, shareholder approvals, court proceedings, and the eventual implementation of a scheme of arrangement under Part 26 of the Companies Act.
Readers can review detailed announcements covering the agreement on offer terms, publication of the scheme document, the results of the court meeting and general meeting, and the High Court’s sanction of the scheme. Subsequent releases describe the scheme becoming effective, the suspension and cancellation of admission of Condor Gold shares to trading on AIM, the delisting of its shares from the Toronto Stock Exchange, and related board changes following completion of the transaction.
The news stream also includes earlier communications such as Rule 2.4 and Rule 2.9 announcements, statements regarding possible offers from potential bidders, and confirmations of Condor Gold’s share capital and outstanding warrants. Together, these items provide a chronological record of how Condor Gold moved from exploring strategic options to agreeing a recommended offer and completing the acquisition by Metals Exploration plc.
Investors, analysts, and researchers can use this page as an archive of key milestones in Condor Gold’s corporate history, with a focus on the takeover process, voting outcomes, transaction structure, and changes to its trading status. For those examining CNDGF, the news content is particularly useful for understanding the terms of the acquisition and the timeline leading to the delisting of Condor Gold’s shares from its primary exchanges.
Condor Gold has completed an 8,004-meter infill drilling program on the La Mestiza Open Pit Mineral Resource at La India Project, Nicaragua. The results confirm continuity in gold mineralization, with significant assay grades including 6.84 g/t gold and 15.23 g/t gold from select drill holes. The La Mestiza open pit currently has a mineral resource of 92 kt at 12.1 g/t gold in the Indicated category and 341 kt at 7.7 g/t gold in the Inferred category. The study aims to upgrade resources for future feasibility studies, indicating potential for additional discoveries.
Condor Gold is issuing 300,000 new ordinary shares at 22 pence each, following the exercise of share options, raising £66,000. The shares will be admitted to AIM on January 20, 2022, increasing the total number of ordinary shares to 146,930,715. These shares rank pari passu with existing shares, including rights to dividends. The company's La India Project in Nicaragua boasts a post-tax NPV of US$418 million and a 54% IRR, with production anticipated to average 150,000 oz gold annually for the first nine years.
Condor Gold (AIM:CNR)(TSX:COG) has completed 2,551.50 m of geotechnical drilling for its La India Project, marking a significant advancement towards the Feasibility Study. This drilling, overseen by SRK Consulting, adds to the previously gathered data from a Preliminary Feasibility Study. A total of 32 geotechnical drill holes covering 3,251.50 m has been conducted, enhancing designs for pit stability and slope analysis. The feasibility study is anticipated to be completed by Q1 2022.
Condor Gold published its unaudited financial results for Q3 2021, reporting significant exploration progress at the La India Gold Project. Highlights include:
- Completion of 3,370 m of infill drilling at La India, with notable assay results such as 22.05 m at 6.48 g/t gold.
- Completion of drilling at the Cacao Prospect, confirming a 10 m true width mineralized zone.
- PEA shows an Internal Rate of Return of 54% and a post-tax NPV of US$418 million.
- Private placement raised £4.1 million for project advancement.
Condor Gold has released its unaudited financial results for the third quarter and nine months ending September 30, 2021. Significant achievements include completing 3,370 m of diamond core infill drilling at the La India Open Pit, revealing promising assay results with gold grades up to 8.68 g/t. The company reported an internal rate of return of 54% and a post-tax NPV of US$418 million from its La India Gold Project. A recent private placement raised £4.1 million, enhancing its capital for ongoing project advancement.
Condor Gold has successfully completed a private placement, raising £4.1 million through the issuance of 11,714,286 Units at 35p per Unit. This financing includes a subscription from directors totaling 2,972,144 Units. The funds are primarily allocated for a Feasibility Study and to pay for a new SAG Mill now 80% complete in Nicaragua. The placement aims to enhance project confidence and secure financing for construction, with admission to trading on AIM expected on or around 2 November 2021.
Condor Gold has filed a Preliminary Economic Assessment Technical Report for its La India Project, Nicaragua, on SEDAR. The report presents two mining scenarios: an open pit and an underground operation, with expected average annual gold production of 150,000 oz in Scenario A and 120,000 oz in Scenario B. Key metrics include an Internal Rate of Return (IRR) of 54% for the combined operations and a post-tax Net Present Value (NPV) of US$418 million. Initial capital requirements are US$160 million with a payback period of 12 months, highlighting robust economic prospects for investors.
Condor Gold has completed an 8,004 m infill drilling program on the high-grade La Mestiza Open Pit at the La India Project in Nicaragua, aimed at enhancing its mineral resource classification. The results are expected to upgrade the current open pit gold mineral resource to the Indicated category, supporting future feasibility studies. The project boasts an estimated 499Kt at 5.37g/t gold for 86,000 oz. Recent drilling highlights include significant widths and grades, confirming continuity in gold mineralization.