Under the agreement between the two companies the concessions known as "La India" and "Espinito San Pablo" will be unified under the name "La India Gold" and will be owned 80% by Condor and 20% by B2Gold Corp.
The concession called "Cerro Quiroz" will be renamed "Cerro Quiroz Gold" and will be owned 80% by B2Gold and 20% by Condor Resources.
Both companies committed to perform at their own cost at least 2.000 meters of excavation where they have majority equity.
Canadian mining corporation Condor Resources has been granted a 25 year exploration and mining concession in Nicaragua.
The 22.5 kilometer area is located in La Libertad – Santo Domingo, and adds to Condor’s 5 existing concessions in the country.
From Proactiveinvestors.com: “According to Condor, the Cerro Quiroz vein was discovered in 2003 by Canadian explorer Chesapeake Gold Corp (TSX-V: CKG) which defined a north-south trending quartz vein grading up to 17.8 grams per tonne gold over more than 1500 metres strike length”.
The purchase includes other concessions close to the Clavo Rico mine, which is renowned for its high productivity.
Razor Resources Inc, a recently formed U.S company, announced it has acquired 99% of “Compañía Minera Cerros del Sur S.A.”, an Honduran company that owns 200 hectares of gold mining concessions in Honduras, in an all stock transaction.
The company B2Gold Corp. could acquire up to 65% of the gold and copper mining project NEN.
The gold and copper mining Project NEN, currently property of Canadian Calibre Mining Corp, is located on the North Atlantic side of Nicaragua, and covers 70,976 hectares.
B2Gold Corp executed a letter of intent, through which it could acquire 51% of the project by making an investment of $7 million on exploration and other projects before 2012 and an additional 14% in a selected area of the project upon completion of the preliminary feasibility studies.
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