Condor Announces 2023 Third Quarter Results
Summary
In Kazakhstan, the Company continues to mature opportunities to implement proven modular LNG technologies and processes to displace diesel fuel usage in the industrial, transportation and power generation sectors. The Companys LNG strategy in Uzbekistan would create a vertically integrated business with self-sufficient gas supply to replace expensive diesel with cleaner and cheaper LNG, decrease the mines operating costs, reduce the countrys dependency on diesel imports, and positively impact the countrys carbon reduction efforts by reducing overall carbon emissions.In July 2023, the Government of Kazakhstan awarded Condor its first lithium brine mining license (the First Lithium License). Such statements are generally identifiable by the terminology used, such as anticipate, intend, expect, plan, estimate, budget, schedule, may, will, could, would, continue, pursue, prepare, envision, project, potential or other similar wording. Such risks and uncertainties include, but are not limited to: regulatory changes; the timing of regulatory approvals; the risk that actual minimum work programs will exceed the initially estimated amounts; the results of exploration and development drilling and related activities; prior lithium testing results may not be indicative of future testing results or actual results; imprecision of reserves estimates and ultimate recovery of reserves; the effectiveness of lithium mining and production methods including DLE technology; historical production and testing rates may not be indicative of future production rates, capabilities or ultimate recovery; the historical composition and quality of oil and gas may not be indicative of future composition and quality; general economic, market and business conditions; industry capacity; uncertainty related to marketing and transportation; competitive action by other companies; fluctuations in oil and natural gas prices; the effects of weather and climate conditions; fluctuation in interest rates and foreign currency exchange rates; the ability of suppliers to meet commitments; actions by governmental authorities, including increases in taxes; decisions or approvals of administrative tribunals and the possibility that government policies or laws may change or government approvals may be delayed or withheld; changes in environmental and other regulations; risks associated with oil and gas operations, both domestic and international; international political events; and other factors, many of which are beyond the control of Condor. Capital expenditures may be affected by cost pressures associated with new capital projects, including labour and material supply, project management, drilling rig rates and availability, and seismic costs.These risk factors are discussed in greater detail in filings made by Condor with Canadian securities regulatory authorities including the Companys Annual Information Form, which may be accessed through the SEDAR+ website (www.sedarplus.ca).Readers are cautioned that the foregoing list of important factors affecting forward-looking information is not exhaustive.