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Condor Gold completes £4mln fundraising

The money raised will be used to support ongoing work at Condor's La India gold project in Nicaragua.

Condor Gold PLC -

Condor Gold PLC (LON:CNR)(TSE:COG) has closed the £4mln placing it announced in mid-February.

Just over 9.5mln shares were issued at a price of 42p.

Directors and major shareholders supported the placing. Chairman Jim Mellon now owns 19.2% of the company and chief executive Mark Child 3.2%. Prominent mining investor Ross Beaty holds 3.7%.

The placing was arranged directly by the company with institutional and other investors and costs amounted to just £8,204.

The company also has just over 3mln warrants outstanding priced at 25p, and just over 8mln priced at 40p.

At the open, Tuesday 2 March, the shares were priced at 47p.

Quick facts: Condor Gold PLC

Price: 47.5 GBX

AIM:CNR
Market: AIM
Market Cap: £64.04 m
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