LONDON, UK / ACCESSWIRE / November 13, 2019 / Condor Gold (AIM:CNR)(TSX:COG) ('Condor', 'Condor Gold' or the 'Company') announces that it has today published its unaudited financial results for the three and nine months ending 30 September, 2019 and the Management's Discussion and Analysis for the same period.

Both of the above have been posted on the Company's website www.condorgold.com and are also available on SEDAR at www.sedar.com .

Highlights for the third quarter of 2019

• In July, the Company raised £4,038,504 by way of a private placement of new ordinary shares. The principal use of proceeds is to meet conditions of the Environmental Permit to construct and operate a mine for La India open pit. Proceeds are being used to buy land required for the mine site infrastructure, complete engineering studies ahead of a construction decision and complete 18 technical studies required for Environmental and Social Impact Assessments ('ESIAs') for 2 high grade satellite feeder pits.
• Significant advancement with 18 technical studies required for ESIAs for 2 high grade satellite feeder pits
• Nicaragua Milling Company Limited became a new 10.4% shareholder in the Company. Randy Martin, the majority owner, has built 3 gold mines in Nicaragua, which are currently in operation.
• Approximately 300 hectares of land has been purchased at the La India Project on and surrounding the mine site infrastructure.
• Government of Nicaragua granted Condor Gold the 132.1 km² Los Cerritos exploration and exploitation concession, which expands the La India Project concession area by 29% to a total of 587.7 km²

Post Period Highlights

• The engineering studies for the Tailings Storage Facility and Water Management System for the mine have been awarded to Tierra Group Inc, based in Denver, USA
• The ESIAs required for the application for the Environmental Permits to extract gold from 2 high grade satellite feeder pits are almost completed.

Mark Child, Chairman and Chief Executive of Condor Gold, commented:

'During Q3 2019, Condor Gold continued to make solid progress by de-risking the La India Project ahead of a construction decision. Offers have been made to all landowners to purchase the freehold land within the area of the mine site infrastructure. The majority of the technical and engineering studies required prior to construction by the Ministry of the Environment and Natural Resources ('MARENA') have been initiated. The engineering studies for the Tailings Storage Facility and Water Management System for the mine have been awarded to Tierra Group Inc, based in Denver, USA. The mine and waste dump schedules have been completed, while the sewage and water system designs for the office and accommodation blocks at the mine have been approved.

The Company will submit two Environmental and Social Impact Assessments to MARENA within the near future, which apply for Environmental Permits to extract gold from the high grade Mestiza and America satellite feeder pits. These have the potential to increase annual production from open pit material by 50% to 120,000 oz gold p.a. for a seven year life of mine, as compared to the PFS study and will result in over 1 million ounces gold being permitted for extraction.'

CONDOR GOLD PLC
CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
FOR THE THREE AND NINE MONTHS TO 30 SEPTEMBER 2019

CONDOR GOLD PLC
CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION
AS AT 30 SEPTEMBER 2019

		30.09.19 unaudited £				31.12.18 audited £				30.09.18 unaudited £
ASSETS:
NON-CURRENT ASSETS
Property, plant and equipment			219,197				211,064				191,881
Intangible assets			21,917,014				20,644,243				20,431,673
			22,136,211				20,855,307				20,623,554
CURRENT ASSETS
Trade and other receivables			368,789				219,077				312,626
Cash and cash equivalents			3,637,425				220,975				878,272
			4,006,214				440,052				1,190,898
TOTAL ASSETS			26,142,425				21,295,359				21,814,452
LIABILITIES:
CURRENT LIABILITIES
Trade and other payables			155,736				251,316				322,218
TOTAL LIABILITIES			155,736				251,316				322,218
NET CURRENT ASSETS		Share article: Shares Share Tweet Share Flip Email Watch latest videos Subscribe and Follow Get a daily dose of Miami Mirror news through our daily email, its complimentary and keeps you fully up to date with world and business news as well. Subscribe Now News RELEASES Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Miami Mirror. More Information null in null Business Section Musk’s X loses CEO Linda Yaccarino amid AI backlash, ad woes BASTROP, Texas: In a surprising turn at Elon Musk's X platform, CEO Linda Yaccarino announced she is stepping down, just months after... Ex-UK PM Sunak takes advisory role at Goldman Sachs NEW YORK CITY, New York: Former British prime minister Rishi Sunak will return to Goldman Sachs in an advisory role, the Wall Street... Gold ETF inflows hit 5-year high as tariffs drive safe-haven bets LONDON, U.K.: Physically backed gold exchange-traded funds recorded their most significant semi-annual inflow since the first half... PwC: Copper shortages may disrupt 32 percent of chip output by 2035 AMSTERDAM, Netherlands: Some 32 percent of global semiconductor production could face climate change-related copper supply disruptions... U.S. stocks recover after Trump-tariffs-induced slump NEW YORK, New York - U.S. stocks rebounded Tuesday with all the major indices gaining ground. Markets in the UK, Europe and Canada... Stocks slide as Trump unveils 25% tariffs on Japan, S. Korea NEW YORK CITY, New York: Financial markets kicked off the week on a cautious note as President Donald Trump rolled out a fresh round... International Section Gaza War sucking life out of an Israeli generation In the past month alone, 23 Israeli soldiers have been killed in Gaza—three more than the number of remaining living hostages held... Faulty IT system at heart of UK Post Office scandal, says report LONDON, U.K.: At least 13 people are believed to have taken their own lives as a result of the U.K.'s Post Office scandal, in which... Travelers can now keep shoes on at TSA checkpoints WASHINGTON, D.C.: Travelers at U.S. airports will no longer need to remove their shoes during security screenings, Department of Homeland... Rubio impersonator used AI to reach officials via Signal: cable WASHINGTON, D.C.: An elaborate impersonation scheme involving artificial intelligence targeted senior U.S. and foreign officials in... Warsaw responds to migration pressure with new border controls SLUBICE, Poland: Poland reinstated border controls with Germany and Lithuania on July 7, following Germany's earlier reintroduction... Deadly July 4 flash floods renew alarm over NWS staffing shortages WASHINGTON, D.C.: After months of warnings from former federal officials and weather experts, the deadly flash floods that struck the... Movie Review Star Trek: The Motion Picture—The Director's Edition (4K UHD) [Blu-Ray]