Condor Gold PLC completes £4mln fundraising
The money raised will be used to support ongoing work at Condor’s La India gold project in Nicaragua.
()() 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.
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