Condor Gold PLC (AIM:CNR, TSX:COG, OTC:CNDGF) said it appointed its largest shareholder, Jim Mellon, as non-executive chairman with effect from yesterday.
Mellon, who has an 18.7% stake in Condor, has been a non-executive director of the Nicaragua-focused gold exploration and development company for several years. Mellon, based in the Isle of Man, is a renowned fund manager.
He takes over the role of chairman from Mark Child, who will remain chief executive.
“Following the recent release of a positive bankable feasibility study on the fully permitted La India Project, I look forward to continuing to work with Mark Child, the CEO, to maximise the value for all shareholders of this construction ready gold mine and determine the path forward as the project progresses to a construction phase," said Mellon.
Condor released the results of the bankable feasibility study for the La India open pit gold project last month.
READ: Condor details results of bankable feasibility study for La India gold project