Condor Gold CEO outlines Metals Exploration offer: a win-win for shareholders [Video]

Condor Gold PLC (AIM:CNR, TSX:COG, OTC:CNDGF) CEO Mark Child talked with Proactive’s Stephen Gunnion about the company’s recommended offer from Metals Exploration.

Condor Gold has 2.4 million ounces of gold resources in Nicaragua, with its fully permitted, construction-ready mine. Metals Exploration, debt-free and producing 80,000 ounces of gold annually in the Philippines, presents an opportunity for growth.

Child outlined the terms of the deal, which include an upfront consideration of $84.3 million, with an additional $28.8 million in deferred payments tied to production milestones. He emphasised that shareholders could benefit from a 65% premium compared to recent trading prices, noting, “This is a win-win deal for both sets of shareholders.”

The plan involves leveraging Metals Exploration’s cash flow to develop Condor’s high-grade reserves and increasing production to 120,000 ounces of gold annually. The combined entity will allocate 34% to Condor shareholders and 66% to Metals Exploration shareholders, providing an opportunity to benefit from shared growth potential.