Condor has entered into an agreement with Signet Coking Coal...

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... !