Gold explorer Condor terminates option agreement on Nicaraguan prospect
NEWS
Thursday, 19 February 2009 09:23
smaller text tool iconmedium text tool iconlarger text tool icon
Gold explorer Condor Resources said it terminated an option agreement on the San Albino-Murra licence in Nicaragua due to the cost involved and uncertainty over the resources.


Condor will also write off write off about $755,000 on termination of the deal, the Central America-focused company said.

Condor had spent $46,000 to acquire the option from Frank Mena Marenco and a further $790,000 in exploration activities on the licence.

The move follows Condor's termination of option deals on the Columbus and Kuikuinita concessions in December, as part of a move to consolidate concession holdings in Nicaragua.

Original source: Reuters

< Prev   Next >