Debt Funding ArrangementChairman, Dr. Paul Crosio, arrived in...

Debt Funding Arrangement


Chairman, Dr. Paul Crosio, arrived in Zurich and met with the key financing parties over April. The final execution documentation for the factoring of the loan is now being prepared by a European bank.
The final instrument which provides the underlying security for this transaction has been registered to Condor and security transferred.
Receipt of this non-dilutive debt funding will enable Condor to implement development of Marianas Magnetite Tailings Project in Copiapo, Chile, and to pursue the acquisition of Signet Coking Coal Limited holder of the The Duel, Universal Annex and Mopane projects in the Soutpansberg Coalfield of northern South Africa.