REG - Condor Gold PLC - Grant of Options <Origin Href="QuoteRef">CNDR.L</Origin>

Condor GoldAnnouncement

06/09/2014 20:33

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RNS Number : 2471N
Condor Gold PLC
24 July 2014 
 
     
 
 
24 July 2014 
 
Condor Gold Plc 
 
(''Condor'' or ''the Company'') 
 
Grant of Options 
 
Condor Gold Plc, an AIM quoted gold and silver exploration company focused on
proving a large commercial gold reserve on its La India Project in Nicaragua,
announces that on 23rd July 2013 (the "Grant Date") it granted 1.17M 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           600,000 
 
Jim Mellon           150,000 
 
Roger Davey        150,000 
 
Luc English            60,000 
 
Dave Crawford       30,000 
 
Other employees  180,000 
 
The share options have an exercise price of £1 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, 50% of the said options
can be exercisable12 months after the Grant Date and 100% of the said options
can be exercisable 24 months after the Grant Date, provided that the grantee
remains with the Company. 
 
Following the grant of the share options outlined above, there are 4,500,900
share options outstanding, representing 11.74% of the 38,323,960 ordinary
shares in issue. 
 
- Ends - 
 
For further information please visit www.condorgold.com  or contact: 
 
 Condor Gold plc                             Mark Child, ExecutiveChairman and CEO+44 (0) 20 7408 1067                      Luc English, Country Manager Nicaragua & El Salvador+505 8854 0753  
 Beaumont Cornish Limited                    Roland Cornish +44 (0) 20 7628 3396                                                                                                                
 Numis Securities Limited Farm Street Media  John Prior & James Black+44 (0) 20 72601000 Simon Robinson+44 (0) 7593 340107                                                                      
 
 
About Condor Gold Plc: 
 
Condor Gold plc is an AIM listed exploration company focused on developing
gold and silver resource projects in Central America. The Company was admitted
to AIM on 31st May 2006 with the stated strategy to prove up CIM/JORC
Resources in Nicaragua and El Salvador. Condor has eight 100% owned
concessions in La India Mining District ("La India Project"); three 100% owned
concessions in three other project areas and 20% in the Cerro Quiroz
concession in Nicaragua. In El Salvador, Condor has 90% ownership of four
licences in two project areas. 
 
Condor's La India Projectin Nicaragua currently 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. Total gold equivalent of 2.37M oz. Including:
Indicated mineral resource of 9.6Mt at 3.5g/t for 1.08M oz gold, Inferred
mineral resource of 8.8Mt at 4.4g/t for 1.25M oz gold. Total open pit mineral
resources of 1.14M oz gold at 3.1g/t. In El Salvador, Condor has an
attributable 1,004,000 oz gold equivalent at 2.6g/t JORC compliant resource.
The resource calculations are compiled by independent geologists SRK
Consulting (UK) Limited for Nicaragua and Ravensgate and Geosure for El
Salvador 
 
This information is provided by RNS
The company news service from the London Stock Exchange