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Ddd, my immediate concern is that the sp is now at the level of 🍉 15 p warrants. We will need cash soon and 🍉 incentive to support the company’s needs has all but gone and likely to be in deficit at this rate. Buying now should surely give a decent reward if a deal is forthcoming
Ing but obviously the market isn’t buying it. Fortune may well favour the brave. The current share price really isn’t irrelevant, as we may find if there is need for another keep the lights on placing. and how do you know there are no leaks ? The share price reflects a distressed seller to any possible investors. The low sp reflects the ammount of time taken with no sign so far after a year of a sale and cash dwindling. Better come out with some news soon that’s for sure. Good luck with the bottom feeding, I may have a last gasp if crypto adds some more gains just for the hell of it.
Good luck
The volume today was 395000 which means just £50000 has changed hands. This is very low volume but very high in CNR’s recent history. It is scandalous that the MM’s in their desperation to get some trading in this share have dropped it 7.5%.
There is no reason to believe there is a problem with the sale process.
But let’s remember the reason this sales process is being conducted as an asset sale. The board were clear from the start that the share price was so far removed from the value of Condor on any normal industry metric that they could not go for a share sale. This has only become more apparent as time has passed and the sp has fallen further.
The volumes are so low because most investors have taken their positions and are awaiting the completion of the sale process, which could become a share sale once the proper value is crystallised.
The sp at this point is totally irrelevant and we must await the completion of the sale process. It is impressive that there are no leaks about progress and those of us with any understanding of commercial negotiations know that any attempt at a running commentary by Mark would be counterproductive.
Nobby I said it plays into Jim’s hands Iam not guaranteeing he take if it what I was told there’s no deal this year and there may not be my diss is boiling with onion the crook I had many face to face chats I know the mans full of sh one t where is he one thing I know it’s the Uk as he not left since the hoilday in the USA to sell a
Company that was supposedly sold which condor payed for
Where the x post non existent 2 weeks plus
Any videos non existent 4-5 weeks plus
Rns from 2-3 a month to zero for 5 weeks
Nda great way to keep the party rolling
This 'taking it private' is yet another rabbit hole that Slim seems to want everyone to jump in to.
Very funny, Slim. I can see you p..sing your sides at your keyboard as one or two people take it seriously.
There is no evidence he is interested in taking 100% and plenty suggesting he is now ready for an exit.
If he was forced to take it private by taking over 30% without a waiver from the CMA then he'd be required to make an offer for the remaining shares, and the minimum he could offer would be the highest he has paid in the past 12 months (not the highest paid by anyone in that time).
If he chooses to make an offer for the remaining shares, he can do so at whatever price he wishes. If the board choose to put his offer to a shareholder vote, obviously he stands a higher chance if the price his higher.
That hopefully clarifies those rules that are often misunderstood and misquote. But, of course, that is entirely theoretical, since there are no hints there is any plan other than to find a buyer for La India as Mark has explained on numerous occasions.
Am I right in thinking that if Jim did want to take it private, he'd have to pay off the other shareholders at the equivalent to the highest share price of the last 12 months? Or is that wishful thinking?
It’s nothing but embarrassing mark should be in court and charged with misconduct and mismanagement
A co with a Pair of plums would come out fighting and set the story straight instead of sitting in the flat up london waiting for a clear coast or Jim to update him
Weeks and weeks without a update on the proper process it’s wrong on many levels
Mark we know about Pete’s 500k win and 250k court cost any thing else you want to come clean about
However things look (with the MMs dropping the SP) the market is very very tight. I suspect I'm not the only one interested at 15p - 16p, especially when even a low bid will come in at least double, possibly triple that. My guess is that many people think like me that JM's price is probably about the floor at this point in time. Another fund raising and it could drop, but there are a lot of ifs and buts on the way to a lower market price.
It's a difficult call if you already have a lump in Condor, but 15 - 16p really is a giveaway price. Risky, yes, but a lot less risky that 30, 40 or 50p.
It will only let me buy 5k.
It's hit my buy point so I thought I would pick up a few. However, I can't currently get a quote.
Looks like I'm not the only one interested at these prices.
Mako Mining and Calibre are clearly great case studies for how to make a lot of money from gold mining in Nic. While its depressing we have not joined them when we could it also gives a lot of confidence to buyers of Condor that mining in Nic is highly profitable and highly stable and geo political risk is limited given plenty of western miners in the country doing very well. Mako today just announced a 5% share buy back as they dont know what to do with all the cash coming in the doors and equally think they are undervalued but at least can take action. Calibre are filling the cash balance so fast Condor could be side dish they could tack on the side and hardly make a dent. A few years makes a big difference and while Calibre is flying and worth £400m , condor is now £25m. Even if Calibre issued a small amount of paper and some cash Condor would almost be a freebie as in a matter of months as they could truck the ore to their mine and sell and payback the cash portion. Yes they might not be in pole position, as we expect Chinese are tabling a cash offer, but once the binding offer is in Calibre could easily swoop when the time suits. For calibre waiting is better for them as they fill their coffers with $100m a year currently. Mako is also a very interesting proposition but do not see them as a buyer but maybe a JV partner now they are bringing in high levels of cashflow that could fund a mine build and be a better use of cash than buy backs. Lets hope November sees a binding deal to get Condor out of the current malaise as 1 year is really a key point to get a deal done. MC will now have many options available so he is probably also deciding which direction to go in. Waiting while we have $2000 gold is a not the right answer as at this level pay back could be 9 months of production only so crazy not be speed track the mine build whether it is Condor or an acquirer.
I agree Nero.
It's bizarre. I hear there is not enough copper, lithium, rare earths etc. to meet 'green' ambitions by 2030, let alone 2050. And yet mining attractiveness is very low at the moment. We are probably at the start of a new commodities boom and yet the market is markedly slow on the uptake.
I'm also frustrated at the lack of a deal, but I'm not buying in to the conspiracy theory stuff about JM considering taking Condor private. It would make no sense. If Condor have a challenge is raising $100m+ to build out a mine, why would JM want to take 100% of the financial and political risk himself. It's utter nonesense in my mind. I think he wants out, but at what he considers the right price. We simply don't know what that price is, albeit it's likely to be between $100m and $200m in my mind with an increasing chance towards the lower end.
As for advisors saying that there is no deal. Well, we all know that or there would be an RNS. No deal is hardly news. Ring me up and I'll tell you the same, 'no deal yet'.
What we need to be thinking about is the 'what next?' aspect. We may have a few quid in the pot but this sales exercise will need some sort of funding before long. That's probably what the bidders are waiting for, albeit I suspect JM has kept his powder dry on that one.
It doesn't feel 'close' but then anything can happen at any time as we all know.
Meanwhile, in increasingly desperate attempt to create volume another .5p is shaved off the price. I sense the law of diminishing returns has kicked in judging by the effectiveness of recent price drops.
Err, if that is the case why the hell try to sell the company in the first place when building a mine was clearly the best thing to do ( particularly as we have a mill bought)?
Slippery, no one is thinking of investing in Condor, because no one is thinking of investing in mining. At least, that's according to Larry Fink:
https://www.telegraph.co.uk/business/2023/10/30/investor-disdain-mining-threatening-net-zero-blackrock/
But don't tell anyone here, because they think it's all Condor's management's fault that the share price is so low. Don't get me wrong, no doubt they ultimately are responsible, but if there is zero appetite for investment in the sector then they don't exactly have much of a chance do they?
Let's get that first binding offer agreed and see who else is interested in making a counter offer. No doubt once the deal is signed and sealed the mining sector will suddenly roar back to life for the greatest bull market ever!!
Bud you don’t have to believe me Mr cubbs wasn’t available whos dealing with us but ended up with a Junior or trainee. Proof will show its self when we got no news this year Do yrself a favour and email mark yrself and see what his saying if he replies
Or do you thing the chairman on record expecting 250 k oz production this year might stop peeps doing their own research. 1 year with no deal and only 3 site visits is what is stopping new investors along with geo politicals not posts on here.
Still May be a deal but it is pretty obvious to most that there is not a host of companies chomping at the bit to gobble us up. News of a deal will negate negative views however the sp is telling the story at the moment.
And I thought Bob the builder had grown up
Slippy, do you think posts like £3.93 a month after permits could stop someone doing their own research???
Slim - So you are saying that Hannam and partners who will have an NDA with the company have disclosed price sensitive communications about the offers on the table and if the sales process will happen ? In your words they are saying nothing is on the table . I’m sorry slim I don’t believe you . That would be market sensitive information . All my opinion
The negative posts won't make a person's mind up but it could eadily deter them from doing their own research
I fully concur with your comments ’Slippery1’ and am also guilty of posting my frustration! Do you honestly believe that any posts on here will discourage PI’sfrom investing, any more than ramping or deramping would influence the SP?
Hmm a female dog ing is filtered
anyone thinking about investing in cnr will take one look at the posts here at run to the hills.
i know we are all mostly in the red on here but the constant ******** and name calling isn't gonna help the cause.
it only takes a few pi's to build a little momentum that might increase any potential deal.
disappointing it maybe but this is the aim and you shouldn't invest money you're not prepared to lose.
on the flip side i've got a dead cert in the 13.30 at lingfield if anyone is interested.
Thanks slim. Get ready to bend over and take it from Big Jim!
I wasn’t getting no answers from mark so someone phone Hanna which there’s numbers available on line after a week or so they got through to a chap who basically said nothings on the table this year and if no sale they will part company in February . The biggest problem is it’s in Nicaragua , he’s words This will end up in Jim’s hands