Report

ZZZFRQGRUJROGFRP
6HSWHPEHU
/D,QGLD'LVWULFW
6RLO*HRFKHPLVWU\5HYLHZ
&RQGRU*ROGSOF
CONDOR GOLD PLC
‡
‡
‡
&RQGRUKROGVPLQLQJULJKWVRYHU
RIWKH/D,QGLD*ROG'LVWULFW
:LGHVSUHDGVXUIDFHJROG
PLQHUDOLVDWLRQ
3RWHQWLDOIRUGHHSVHDWHGJROG
GLVFRYHU\
6XUIDFH*ROG0LQHUDOLVDWLRQ
7K.± KLJKSRWDVVLXPUHODWLYHWRWKRULXPLVEOXH
SULRULW\H[SORUDWLRQWDUJHWVLGHQWLILHGXVLQJJHRORJ\SUHYLRXVH[SORUDWLRQJHRSK\VLFVDQG
GLJLWDOWHUUDLQPRGHOV
+LJKSRWDVVLXPVKRZVJROGDVVRFLDWHGDOWHUDWLRQ]RQHDWVXUIDFH
CONDOR GOLD PLC
‡
‡
5(*,21$/(;3/25$7,21± 7DUJHW*HQHUDWLRQ
CONDOR GOLD PLC
(O 7DQTXH
5HDO GH OD &UX]
7DWHVFDPH &ULVWDOLWR
$QGUHD 9HLQ
1: H[WHQVLRQ RI ,QGLD 1HDU VXUIDFH
$PHULFD DQG 0HVWL]D
1RUWKHUQ %HOW
6DQ /XFDV
/D 0RMDUUD
1HDU VXUIDFH
1HDU VXUIDFH SDUWLDOO\ KLGGHQ
1HDU VXUIDFH SDUWLDOO\ KLGGHQ
3DUWLDOO\ KLGGHQ
1HDU VXUIDFH
+LGGHQ
1HDU VXUIDFH
'RV +HUPDQRV
7DUJHW 6W\OH
6RXWKHUQ =RQH
1DPH
1R
$UHD
%DFNERQH VWUXFWXUH ERLOLQJ ]RQH DW VXUIDFH
%RLOLQJ ]RQH DW VXUIDFH RQ IODQN RI KLOO SRWHQWLDOO\
SDUWLDOO\ EXULHG EHQHDWK FHQWUH RI KLOO
%RLOLQJ ]RQH DQG WRS RI ERLOLQJ ]RQH UHDFKHV VXUIDFH
RYHU OLPLWHG DUHD
7RS RI ERLOLQJ ]RQH UHDFKHV VXUIDFH RYHU D OLPLWHG DUHD
'LVSHUVLRQ ]RQH RI SULQFLSDO EDFNERQH VWUXFWXUH ERLOLQJ
]RQH DW VXUIDFH
%DFNERQH VWUXFWXUH ERLOLQJ ]RQH DW VXUIDFH
3ULQFLSDO EDFNERQH VWUXFWXUH KLJKOHYHO YHLQ WH[WXUHV DW
VXUIDFH ERLOLQJ ]RQH LQIHUUHG EHORZ VXUIDFH
%DFNERQH VWUXFWXUH ERLOLQJ ]RQH DW VXUIDFH
,QWHUSUHWDWLRQ
‡ 1RUWKHUQ=RQH± XQGHUH[SORUHG
‡ 6RXWKHUQ=RQH± ZHOOH[SORUHG
‡ 7ZR]RQHVUHFRJQLVHG
‡ +LGGHQGHHSWDUJHWVIRUXQGHUJURXQGODUJH
GLVFRYHU\SRWHQWLDO
‡ 1HDUVXUIDFHWDUJHWVIRURSHQSLWSRWHQWLDO
5(*,21$/(;3/25$7,21± 7DUJHW*HQHUDWLRQ
‡
‡
‡
‡
CONDOR GOLD PLC
%KRUL]RQVRLOVDPSOHV
P(DVW[P1RUWKJULG
NP DUHDFRYHUHG
HOHPHQWXOWUDWUDFH,&306
6L[DUHDVVHOHFWHGDVSURVSHFWLYHIRU
KLGGHQGHHSVHDWHGJROGPLQHUDOLVDWLRQ
,QGLD6RXWK± 0RMDUUD
&DFDR &HQWUDO%UHFFLDWUHQG
(O7DQTXH
7DWDVFDPH
5HDOGH/D&UX]
6DQWD%DUEDUD+LOO
6RLO*HRFKHPLVWU\2YHUYLHZ
/D,QGLD6RXWK 0RMDUUD
&DFDR&HQWUDO%UHFFLD7UHQG
(O7DQTXH
7DWHVFDPH
5HDOGHOD&UX]DQG
6DQWD%DUEDUD+LOO
CONDOR GOLD PLC
± )LHOGFKHFNLQJDQGDGGLWLRQDOPDSSLQJRIDUWLVDQDOJROGSURFHVVLQJVLWHV
± 6DPSOHVLWHVVKRXOGEHIODJJHGLQWKHGDWDEDVHZKHUHFRQWDPLQDWLRQLVSRVVLEOH
&RQWDPLQDWLRQIURPDUWLVDQDOJROGSURFHVVLQJVLWHVIDOVHDQRPDOLHV
‡
± 6DPSOLQJRYHUWKHFRUHRIWKHV\VWHPLVUHFRPPHQGHGWRSURYLGHFRQWH[W
*HRFKHPLFDOVXLWHSDWKILQGHUHOHPHQWVDQGPDJQLWXGHRIDQRPDOLHVRYHU
FRUH/D,QGLD± $PHULFDKDVQRWEHHQHVWDEOLVKHG
‡
± (OHPHQWVGRKDYHGLIIHUHQWSRSXODWLRQVRYHUWKHGLIIHUHQWOLWKRORJLHV HVSHFLDOO\
EDVDOW
± $GGLWLRQDOJHRORJLFDOPDSSLQJLVUHTXLUHGWRLPSURYHGDWDOHYHOOLQJE\OLWKRORJ\DQG
EHWWHUVFUHHQRXWWKHK\GURWKHUPDODOWHUDWLRQDQGPLQHUDOLVDWLRQ VLJQDO
&RPPHQWVDQG5HFRPHQGDWLRQV
‡ 6FUHHQLQJRXWHOHPHQWVDVVRFLDWHGZLWKK\GURWKHUPDOIOXLGV
6XPPDU\RI6RLO*HRFKHPLVWU\6XUYH\
‡ 5HYLHZEDVHGRQVDPSOHVFRYHULQJNP DUHDLGHQWLILHGDV
SURVSHFWLYHIRUKLGGHQGHHSVHDWHGJROGPLQHUDOLVDWLRQ
6RLO*HRFKHPLVWU\,QLWLDO&RPPHQWV
±
±
5HHYDOXDWHDQRPDOLHV
&RQGXFWOHYHOOLQJ E\OLWKRORJ\H[HUFLVH
5HFRPPHQGFRUUHODWLQJDQRPDOLHVZLWK
UHJLRQDOPDSSLQJGDWDWRILQHWXQH
JHRORJ\PDS
0HWDOV$O6F7L9&U0Q)H&R1L
&X=Q*D=U
$ONDOL(DUWKV0J6U
CONDOR GOLD PLC
‡
±
±
%DVDOWVWUDWLJUDSK\FRLQFLGHQWZLWK
VWURQJDQRPDOLHVLQHOHPHQWV
LPSURYHEHGURFNJHRORJ\PDS
LGHQWLI\IDXOWVWKDWRIIVHWURFNXQLWV
‡
±
±
,GHQWLI\LQJEHGURFNOLWKRORJ\IURPVXLWHV
RIOLWKRORJ\FRQWUROOHGHOHPHQWVKHOSV
‡
6RLO*HRFKHPLVWU\
%DVDOW6LJQDWXUH
NP
0DKDODQRELV 'LVWDQFH5REXVW
XVLQJOLVWHGHOHPHQWV
+LJKZD\)DXOW
SRVVLEOHIDXOWVRIIVHWWLQJEDVDOW
%DVDOW
6RLO*HRFKHPLVWU\IRU/LWKRORJ\0DSSLQJ
6WURQJHVWDQRPDOLHVRFFXU
± DORQJWKH1(VWULNLQJFRUULGRU
FRLQFLGHQWZLWKWKH+LJKZD\
)DXOWLQWKHQRUWK
± $ORQJDQLQWHUSUHWHG(DVW
:HVWVWUXFWXUHDW(O7DQTXH &ULVWDOLWR
‡
CONDOR GOLD PLC
,QWUXVLRQVLJQDWXUHGHILQHGE\WZR
PDLQHOHPHQWV
± 0HWDOV%L0R
± ,PSOLFDWLRQVRIPDJPDWLF
IOXLGPHWDOVRXUFH
‡
6RLO*HRFKHPLVWU\
,QWUXVLRQ6LJQDWXUH
NP
0DKDODQRELV 'LVWDQFH5REXVW
XVLQJOLVWHGHOHPHQWV
%L0R
%L0R,QWUXVLRQW\SHDQRPDO\
+LJKZD\)DXOW
SRVVLEOHIDXOWVRIIVHWWLQJEDVDOW
6RLO*HRFKHPLVWU\IRU/LWKRORJ\0DSSLQJ
‡
‡
/D,QGLD
&HQWUDO%UHFFLD
(O7DQTXH DQG
&ULVWDOLWR 7DWDVFDPH
(O&DUUL]DO DQG/RV5DVWURMRV VXVSHFWHG
FRQWDPLQDWLRQ
&DFDR5HDOGHOD&UX]DQG6DQWD%DUEDUD
/D,QGLD
(O7DQTXH DQG7DWDVFDPH LQFOXGLQJ&ULVWDOLWR
CONDOR GOLD PLC
±
±
%URDGDQRPDORXVDUHDVDQGFRUULGRUV
RQXSWKURZQ EORFN:HVWRIWKH+LJKZD\
)DXOW
±
±
,VRODWHGYHU\ZHOOGHILQHGDQRPDOLHVRQ
GRZQWKURZQEORFN(DVWRIWKH+LJKZD\
)DXOW
±
±
±
±
7KHVWURQJHVWDQRPDOLHVRFFXU
‡ DORQJWKH1(VWULNLQJFRUULGRU
FRLQFLGHQWZLWKWKH+LJKZD\)DXOW
6RLO*HRFKHPLVWU\
*ROG6LJQDWXUH
NP
*ROGDQRPDO\
+LJKZD\)DXOW
6RLO*HRFKHPLVWU\IRU$OWHUDWLRQ0LQHUDOLVDWLRQ
CONDOR GOLD PLC
‡ 7KHVWURQJHVWDQRPDOLHV
UHODWLYHWR$XRQO\RFFXU
LQWKH(DVWDW5HDOGH/D
&UX]DQG6DQWD%DUEDUD
‡ 6LJQDWXUHLVYHU\VLPLODUWR
*ROGRQO\DQRPDOLHV
$X$JUDWLRSORWWHGZLWK
XSIORZ ]RQHVKLJKJROG
UHODWLYHWRVLOYHUSORWWHGDV
KRWWHUFRORXUV
6RLO*HRFKHPLVWU\
$X$J ³XSIORZ´6LJQDWXUH
NP
$X$J UDWLR
+LJKZD\)DXOW
6RLO*HRFKHPLVWU\IRU$OWHUDWLRQ0LQHUDOLVDWLRQ
0HWDOV$V+J7H7O
CONDOR GOLD PLC
8QH[SHFWHGREVHUYDWLRQ
5HDOGHOD&UX]DQG&HQWUDO%UHFFLDGR
QRW KDYHKLJKOHYHOVLJQDWXUHV
‡
±
:HDNDQRPDO\DW&DFDR
‡
7DUJHWVIRUH[SORUDWLRQ
±
/D0RMDUUDSURVSHFWV
‡
7DUJHWIRUH[SORUDWLRQ
±
1RUWKHUQ7DWDVFDPH
‡
KLGGHQGHHSVHDWHGKLJKJUDGHJROG
PLQHUDOLVDWLRQ KDVDOUHDG\EHHQ
GHPRQVWUDWHGE\GULOOLQJ
±
6WURQJHVWDQRPDOLHVRFFXUDW
‡ /D,QGLD6RXWKDGMDFHQWWRWKH+LJKZD\
)DXOW
±
+LJKOHYHOHSLWKHUPDOVLJQDWXUHGHILQHGE\
IRXUPDLQHOHPHQWV
6RLO*HRFKHPLVWU\
+LJK/HYHO6LJQDWXUH
NP
0DKDODQRELV 'LVWDQFH5REXVW
XVLQJOLVWHGHOHPHQWV
$V+J7H7O
+LJKOHYHOSDWKILQGHUDQRPDO\
+LJKZD\)DXOW
6RLO*HRFKHPLVWU\IRU$OWHUDWLRQ0LQHUDOLVDWLRQ
/D,QGLD6RXWK
+LJKZD\)DXOW
(O&DUUL]DO
/RV5DVWURMRV
7DWDVFDPH 9HLQ(O7DQTXH $UHD
$QRPDO\DQG
CONDOR GOLD PLC
‡ 6HYHQVHFRQGDU\WDUJHWVZLWK
FRLQFLGHQWJROGDQGXSIORZ
‡ 3ULRULW\WDUJHWVZKHUHFRLQFLGHQW
JROGXSIORZ DQGKLJKOHYHO
DQRPDO\DW
NP
+LJKZD\)DXOW
6RLO+LJKOHYHOVLJQDWXUH
6RLOXSIORZ VLJQDWXUH
6RLOJROGDQRPDO\
*ROG
6RLO*HRFKHPLVWU\1RUWK3ULRULW\7DUJHWV
&RPSDULVRQRIWDUJHWVIURPVRLOVXUYH\ZLWKUHFHQWVWUXFWXUDOVWXG\WR
SURGXFHDQLQWHJUDWHGDQGSULRULWL]HGWDUJHWOLVW
VRLOJHRFKHPLVWU\WDUJHWVZLWKVWUXFWXUDOJHRORJ\WDUJHWV,QWHUHVWLQJWDUJHW
DUHDVDUHWKRVHZLWKDFRQIOXHQFHRI
± $QRPDORXVJROG
± (OHYDWHG$X$J UDWLRXSIORZ ]RQHV
± (OHYDWHGPHUFXU\KLJKOHYHOVLJQDWXUH
1HHGWRZHHGRXWFRQWDPLQDWHGGDWD
1HHGWRFRGHE\OLWKRORJ\DQGOHYHOGDWDWRUHGXFHOLWKRW\SH ELDV
± 7KHQHYDOXDWHDOWHUDWLRQLQGLFHV1D.&D$OHWF
1HHGWRHYDOXDWHVLJQLILFDQFHRIPDJPDWLFVLJQDWXUHV%L0R
CONDOR GOLD PLC
‡
‡
‡
‡
‡
6RLO*HRFKHPLVWU\7DUJHWVDQG1H[W6WHSV