Condor Gold completes purchase of SAG Mill for La India Project
AIM listed Condor Gold Plc announced on Monday that it has purchased a new Semiautogenenuous Mill (SAG Mill) from First Majestic Silver Corp for approximately US$6.5 million, which includes the issue of US$3 million of shares in Condor Gold, at £0.50 per share.
Kate Doody, of GBH Law, advised long standing client, Condor Gold on the purchase and commented: “The purchase of the SAG Mill is a significant step forward for Condor, setting an accelerated path to production at La India mine. It was a pleasure to work with Mark Child and Jeffrey Karoly, as well as our Mexican counsel, Daniela Hernandez at Pueblita Abogados, S.C. and the team in Canada at First Majestic Silver Corp., on this purchase.”
Mark Child, Chairman and CEO of Condor Gold commented: “The key message is Condor has purchased and sized the mill at 2,300 tpd, significantly shortened the mill delivery time, set a trajectory for detailed project design and an accelerated path to production. What’s more, Condor has acquired a state of the art, complete new SAG Mill package with warrantees, manufactured and supplied by Metso Outotec, the premier manufacturer of grinding mills and entire grinding systems for the global mining industry.”