Condor Gold PLC (AIM:CNR, TSX:COG, OTC:CNDGF) CEO Mark Child speaks to Thomas Warner from Proactive about the latest developments in the sale of the UK-based mineral exploration and development company's La India Gold Mine in Nicaragua.
Child says that around ten companies are currently under NDA with access to Condor's data room, but that the sales process is taking "slightly longer" than the company anticipated but there is a "revolving door" of interest in the mine.
He lays out the investment case, highlighting that Condor has meticulously de-risked the project and owns 100% of assets, making it an attractive proposition. Regarding the valuation of the mine, Child says that company Chairman Jim Mellon, who holds a significant stake, has made it absolutely clear that he is determined to secure "a fair price".
He also says that while the company has plans in place for all kinds of contingencies, the main objective is selling the assets as Condor isn't geared for in-house mining operations.
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