Nicaragua-focused gold miner Condor Gold PLC (LON:CNR) is to set up a US trading facility to boost exposure and liquidity among US investors.
Mark Child, chief executive, said it made sense to cross-trade in North America when Condor's flagship asset is in Nicaragua, Central America.
“Condor's twin strategy of permitting and constructing a base case 2,800tpd processing plant with capacity to produce 100,000 oz gold pa, while continuing to increase the resource and demonstrate a major gold district, will resonate with a new pool of capital in the US that invests in gold exploration and development companies."
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Currently AIM-listed, Condor will trade on the OTCQX under the symbol "CNDGF" with the percentage of its issued shares represented by American Depositary Receipts or Depositary Securities limited to 25% of the total at any one time.
Condor’s La India project in Nicaragua currently has a resource of 2.31mln ounces but a major exploration programme is underway to boost this.
The 10,000m programme will identify new resources in additional veins sets elsewhere on the 313 sq km acreage.