Condor directors pile in on the cheap

Gold explorer Condor Resources, which last week announced an independent study had deemed its La India project in Nicaragua is economically viable, has raised funds through a share placing.

Gold explorer Condor Resources, which last week announced an independent study had deemed its La India project in Nicaragua is economically viable, has raised funds through a share placing.

The company raised £2.5m through a placing of 50m new ordinary shares at a price of 5p each. That's a discount of 0.75p, or 13%, to the closing mid-market price of Condor on the day before the placing was announced, and a price too good to resist for three directors, including Chairman Mark Child.

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