Condor Sells Mines in Nicaragua

The mining company announced it would sell concessions in Poterillos and Estrella in Nicaragua.

Wednesday, January 12, 2011

The president of Condor Resources, Mark Child, in an interview with Reuters, said "We will probably have to give up or sell one or two of these concessions (...) we are open to suggestions."

The executive said he would like to first to drill both concessions.

"The shares of the gold and silver explorer which lists on London's AIM market rose almost 2,500 percent in 2010. Since then, they have dropped to mid-December levels and on Tuesday were to 7.25 Peniques, valuing the company at $56 million."

More on this topic

Nicaragua: Incentives for Mining

June 2016

A bill proposes the creation of a public mining company, which would be able to participate in concessions and form associations with other public or private companies. reports that "...Some of the functions that this law would have is to carry out feasibility analysis to set up mineral processing establishments in areas with mining potential, within concession areas; and market products derived from the exploitation of mineral resources. "

Illegal Mining in Panama

August 2015

The mining union is complaining about lack of controls on growing illegal mining activities, driven by the need to avoid torturous bureaucratic formalities.

The main problem denounced by formal mining companies is the effect that the illegal activity has on prices, since illegally mined products sell at lower prices, preventing the formal sector from competing on equal terms.

Reactivation of Gold Mine in Panama

May 2014

Greenfield Resources has initiated efforts to request the reopening of the Remance mine, in which it plans to invest $110 million.

16 years since the closure of the mine, caused by the collapse of the gold price in the international market, the Panamanian company Greenfield Resources Inc.

Mining Exploration Concession in Nicaragua

May 2009

Condor Resources Plc Company won the concession for mining exploration in Santa Barbara, an area of 16 square km.

The international company has concessions in Nicaragua and El Salvador. The new Santa Barbara concession is adjacent to Cacao concession which is 16 square kilometers and also held by Condor.

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