Condor Gold Provides an Update on the Sale of Assets
On 22 November 2022, Condor Gold (AIM: CNR; TSX: COG) announced that following a robust
and economically attractive Bankable Feasibility Study, also known as a Feasibility Study, on the
La India open pit, it appointed H&P Advisory Limited (Hannam and Partners) to seek a buyer for
the assets of the Company. The last update on the sale of the Company’s assets was via an RNS
on 13 March 2023. The current status is that the Company has received five non-binding offers and
three site visits have been completed. There are currently eight companies under under NonDisclosure Agreements (NDA). Additional enquires have been received in the past 2 weeks.
Mark Child, Chief Executive of Condor Gold, commented:
“There remains substantial interest from gold producers to acquire the Company’s assets. Wholly
owned, fully permitted, construction ready gold mines with potential production of 150,000 oz gold
per annum, in major Gold Districts, with the land and a new SAG Mill package purchased and a
construction period of only 18 months are rare. There are currently eight companies under NDAs,
five non binding offers received and three site visits completed. Companies under NDAs have access to a virtual data room, which includes all drill data, technical studies to Feasibility Study
level, details of permits to construct and operate a mine and financial models. While the sales process is taking longer than anticipated, new enquires continue to be received, the Board is confident that a binding agreement will be reached. Investors will be updated in due course.”
Cautionary Statement: Investors should note that, whilst the Board is encouraged by the process to date, there can be no guarantee that the Company will complete the sale of its assets.

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