Condor Resources operating losses rise

Condor Resources posts operating losses of Â£1.97m for the year to the end of December - up from Â£502,605 last time.

The total comprehensive loss at Â£1.96m compared with Â£1.2m a year ago.

Condor's JORC code mineral resource in Nicaragua increased 41-fold in 2011 from 41,000 oz gold to 1.7 Million oz gold.

In El Salvador, Condor's JORC resource of 747,000 oz gold and 22.38 million oz silver or 1,120,000 oz gold equivalent at 2.6g/t remained unchanged during the period due to the moratorium on all exploration and mining in the country, however, 10% of the company's resource in El Salvador was gifted to a UK Charitable Foundation whose beneficiaries are the most needy and poor in that country.

At 8:34am: (LON:CNR) City North Group share price was 0p at 3.75p

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01/06/2012