| CATEGORY: NEWS AND ANNOUNCEMENTS SECTOR: MINING |
El Salvador license problems hit Condor Resources |
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Wed 09 Dec 2009
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LONDON (SHARECAST) - Shares Condor Resources slumped after the Central America-focused gold and silver miner began legal proceedings against the El Salvador government over its failure to respond to Condor’s applications to renew its two mining licenses in the country.
‘The outlook remains uncertain and unclear,’ said Condor.
‘The Government of President Mauricio Funes, who was inaugurated on 1st June 2009, has yet to articulate a clear policy towards exploration and mining.’
As well as its two projects in El Salvador, Condor has three in Nicaragua.
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