condor moves ahead with €10 million

Condor has entered into an agreement with Signet Coking Coal Limited (Signet) that will see it have the right to acquire a majority stake of up to 50.3% in the Duel and

***Tshipise 2 projects***

Positive initial exploration

South African geologist, PC Meyers, has provided a positive initial exploration report on the Duel coal project. The report states: “Signet Coking Coal International hold potentially multiple HCC projects within the southern and northern Tshipise sectors of the Soutpansberg Coalfield

***Duel and Tshipise 2 Projects***

With the confirmation of the coking coal analysis from the Duel project, tied with the addition of the large amount of publicly released information from Coal of Africa Limited […], the presence of premium hard coking coal in this particular sector is at its highest level.”

The report concludes: “The Duel project could easily supply the majority of South Africa’s (current) imported hard coking coal quota (between 3 to 4 million tpa).”

http://www.worldcoal.com/news/mining/articles/Condor_secures_coal_funding_602.aspx#.U0sKSHByb_c

http://signetcoal.com/projects-tshipise/

If the fund will be complete the sp would not be at a low like now... !