Condor Gold PLC Grant of Options (3468K)
July 06 2017 - 7:05AM
UK Regulatory
TIDMCNR
RNS Number : 3468K
Condor Gold PLC
06 July 2017
6(th) July 2017
Condor Gold Plc
("Condor" or "the Company")
Grant of Options
Condor Gold Plc, an AIM quoted gold exploration and development
company focused on permitting a base case 2,800tpd processing plant
with the capacity to produce 100,000 oz gold per annum and
demonstrating a District scale gold play at its La India Project in
Nicaragua, announces that on 5(th) July 2017 (the "Grant Date") it
granted 1.94million share options under the Company's existing
share options scheme to Directors and other staff.
The share options were granted by the remuneration committee and
approved by the Board as part of the Company's annual share option
scheme. The share options were granted to:
Mark Child 800,000
Jim Mellon 150,000
Roger Davey 150,000
Peter Flindell 150,000
Kate Harcourt 150,000
Dave Crawford 40,000
Other employees 500,000
The share options have an exercise price of 62 pence per share
(being the Placing price at which Condor raised GBP5.242million in
February 2017) and are exercisable for a period of 5 years from the
Grant Date, with the restriction that no options can be exercised
within 12 months of the Grant Date, only up to 50% of the said
options can be exercised in the following 12 months and thereafter
100% of the said options can be exercisable, provided that the
grantee remains with the Company.
Following the grant of the share options outlined above, the
total share options outstanding will represent 12.4% of the
61,365,382 ordinary shares in issue.
- Ends -
For further information please visit www.condorgold.com or
contact:
Condor Gold plc Mark Child, Executive
Chairman and CEO
+44 (0) 20 74932784
Beaumont Cornish Limited James Biddle/ Roland Cornish
+44 (0) 20 7628 3396
Numis Securities John Prior & James Black
Limited +44 (0) 20 72601000
Farm Street Media Simon Robinson
+44 (0) 7593 340107
About Condor Gold plc:
Condor Gold plc was admitted to AIM on 31(st) May 2006. The
Company is a gold exploration and development company with a focus
on Central America.
Condor completed a Pre-Feasibility Study (PFS) and two
Preliminary Economic Assessments (PEA) on La India Project in
Nicaragua in December 2014. The PFS details an open pit gold
mineral reserve of 6.9M tonnes at 3.0g/t gold for 675,000 oz gold
producing 80,000 oz gold p.a. for 7 years. The PEA for the open pit
only scenario details 100,000 oz gold production p.a. for 8 years
whereas the PEA for a combination of open pit and underground
details 140,000 oz gold production p.a. for 8 years. La India
Project contains a total attributable mineral resource of 18.4Mt at
3.9g/t for 2.33M oz gold and 2.68M oz silver at 6.2g/t to the CIM
Code.
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.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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