Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
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Do we think now MC said in interview we have 3 offers and so far RNS only states 2 that he now needs to release a further RNS to confirm this? I seems material in that 3 bidders is 50% better than 2. I think he waited for 2 bidders for first RNS as a single bidder might have seemed riskier so it would make sense to update market for each new bidder?
I echo nero120’s comments, well done!
Excellent find Joe! The word is certainly getting out, once we have a bit more certainty around the deal we could see a lot of buying from outsiders.
https://investingnews.com/amp/claude-bejet-gold-market-forecast-2659595755
Interesting overall assessment of the gold market and condor gets a mention around the 10 minute mark.
Let’s hope that we at the very least get to recoup our ‘investment’.
We have to laugh Connect, I know over years we have had the odd difference but life is too short!
Come what may re CNR there are far more things important! It has been part of my life for years now and it will seem odd once this finally comes to conclusion……
Cheers to everyone’s happy ending!
OOTW!
……
Fill in the blanks he he
Chat gpt reply:
As an AI language model, I do not have access to real-time financial data and cannot provide you with the latest information on Condor Gold's proven ounces. However, as of Condor Gold's latest public release in September 2021, the company reported a total mineral resource estimate of 2.33 million ounces of gold at a grade of 4.0 grams per tonne in Nicaragua, including 1.27 million ounces of gold at a grade of 4.4 grams per tonne in the Proven and Probable category. It's important to note that mineral resource estimates are subject to change as further exploration and evaluation work is carried out.
Much more useful if you are coding but better than google search :)
Hey Siengred, where did you get the proven figure from? I only see indicated and inferred on the pdf on the website. Cheers!
Indicate is fairly high confidence I guess, whereas inferred could become more/less after further drilling
Slimbo, the only definite is proven and probable. Ie reserves. 650 k oz. Thats why inferred and indicated are priced much lower.
Hi All
Latest communication from the company is very positive. Gold is going the right way and inflation is going to be sticky which suits gold as central banks pause interest rate rises after the last meeting. I do think we will get between 50p-60p in asset sales but could get more if it becomes an auction. I did also notice in the video MC mention a buyer may buy the equity instead of the assets. All to play for . Good luck all and all my opinion
Plus saying that they have received follow up questions from a recent site visit. All progressing well IMO
Would 007 care to substantiate his remark about the Chinese seeming to be not interested as no such mention of this has been made by the company. Quite the contrary with the Company specifically mentioning the Chinese interest and the 8 day due diligence site visit.
The update from MC was very positive today, politics has thawed with recent deal with the US for political prisoners, and importantly all bidders were confirmed as being in the process so far and probably more will be added towards a sale that will be in excess of $100m. Plenty of upside for with 2-3x subject to binding offers that could come as soon as a few weeks.
Looks like this will go below 15p as it seems the Chinese are not interested but I hope not.
Wow we now have 3 non binding offers. This is incredible news as should get greater scope for bidding war. We have a total of 9 NDAs and another site visit just happened with a questions today. So we could be knocking at 4 offers so far. Seems that the sale process is going very well. Current market cap today is a £40m and sale is likely to be £100m+ so looking very positive.
Knocking on that $2000 door again. If it can settle above that level for a few weeks that would certainly boost this sale process.
There could be 15 maybe more 10 possibly 5 definitely 2.4
MC has always claimed that he drowns in targets.
So he must have plan A B C and D
know not no!!
It is important that CNR works on a plan B should no sale happen. Making sure that buyers no that such a plan exists is also important so that it lessens the chance of low ball offers if they think they have CNR over a barrel. The video was an encouraging update.
A further point to add to your list is that as I suggested on Wednesday there is always the possibility of a bid. Mark in the interview said that it was possible that this process could end in a share sale rather than an asset sale. I would be in favour of that and it would stop the comments regarding how will the value of an asset sale be fully reflected in the share price.
Well said ‘triple C’, perhaps it’s time that frustrations are put aside, as we are all looking for a positive outcome. Goodnight and GLA to us all!
Getting bloody bored of cheap snipes at such an important time.
For me it was a good update of progress on the ground.
1 Serious interest in Condors assets.
2 Potential buyer requesting 6 further questions.
3 Valuation must include upside of all assets.
4 Other plans if Condor don't get a satisfactory sale valuation.
5 MC would love to continue drilling on targets he believes is rich in gold.
6 Political situation maybe over the worse.
7 Oh and just to mention the boring statement, no many projects global that is all ready to go such as Condors excellent assets.