John Seaberg tapped as new Condor Gold finance chief

Condor Gold announced the appointment of John Seaberg as its chief financial officer on Monday, with effect from 1 September.

The AIM-traded firm described Seaberg as a “seasoned executive”, with more than 25 years of experience in the mining industry.

It said he had held a number of executive roles within the industry, noting that from July 2019 to June 2021, he was the senior vice-president and CFO of Calibre Mining.

Prior to Calibre, he was the executive chairman of Paramount Gold Nevada.

Seaberg was previously senior vice-president of strategic relations at Klondex Mines, where he was responsible for global investor relations and corporate development initiatives as an acting member of the senior executive team.

Before Klondex, he was employed for more than 12 years by Newmont Mining, where he last held the position of vice-president of investor relations.

Seaberg has a Bachelor of Science Business Administration (BSBA) degree from Colorado State University, and a Masters of Business Administration (MBA) from the University of Denver.

As part of his remuneration package, Seaberg would be granted 750,000 options to subscribe for new ordinary shares in Condor Gold at a 10% premium to the 10-day volume-weighted average price, or 45p, whichever is higher, on his start date of 1 September.

The options would have a five-year life, and would be subject to certain restrictions.

“Mr Seaberg has extensive experience as a CFO while also being actively involved in corporate development and investors relations,” said chairman and chief executive officer Mark Child.

“Until recently, he was senior vice-president and CFO of Calibre Mining, which has two producing mines in Nicaragua.

“Furthermore, Mr Seaberg strengthens our leadership team as Condor continues its twin strategy of constructing and operating a new processing plant, using the recently acquire new SAG Mill package, which has a capacity of 2,300tpd and is estimated to produce circa 100,000 oz gold per annum at its fully permitted, 100% own La India Project in Nicaragua, while demonstrating a 5m ounce gold district.”

At 0800 BST, shares in Condor Gold were down 2.33% at 42p.