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CNR tweeted 2 hours the board are optimistic a binding over is on the horizon, watch out for updates!
The board would be foolish to openly state this, if in doubt stay quiet.
Maybe I am a fool but just bought 2k lots of 10k shares at 23p
This goes against my normal policy as at the time I couldn’t sell and could only buy….however I repeat the fact that tweeted so openly surely sounds positive!
Another week of 'the proper process' concludes..................................stay tuned!
We know the day
We know the colour
We no the reason
Diss poor performance
Actually slim it is around 680 k oz that is proven the rest are jorc compliant estimates. Many mistake reserves ie proven or probable with jorc estimates. There is a large difference in the valuation of each. Anything up to$100 p oz.
It’s a shame onion did no digging 2.4 5. 7. 10. 15 that’s what he’s claimed but it’s the 2.4 that’s proven we even bought the mill to get to it ,you couldn’t make it up anyway have you signed for the chair lift installation yet he’s very busy
Bit behind in the info roxi . Do a bit more digging.
On the last investor update, Mark hints at ten NDA,s
Condor Gold present at the Proactive One2One Investor Forum - June 28th 2023
Roxi, last news 7 ndas 5 offers. It is an asset sale at present , how many shares are you considering into how much offered , how much expenses to deduct ? Ie 15% tax or selling expenses.
Mellon has vastly reduced his breakeven . You are dreaming with £1 per share unfortunately. That would value Cnr around £250m . Take a peek at the m cap of a 100 k oz producer . Shg with a seperate exploration project higher grade and soon to be as large as la India . Currently £100 m . If we got £100 m that would probably return around 40 p imv.
Best to keep expectations grounded imv. We will get to vote although Mellon will have over a quarter of the voting shares by then. So if it is a £100 m deal guys here expecting £1 can vote against it.
They may well have a bid , they have 5 but none as yet have gone binding. They cannot be sitting on a binding bid , it would have to be rnsd
Where did you get 10 NDAs from Roxi?
It wouldnt surprise me if they already have at least one Bid at the cheap end 50p, , it wont go for that, im pretty sure,
Mark said there where at least 4 confirmed Bids, now there are 10 NDA,s it stands to chance one with deeper pockets will emerge,
Next move may be "A Bid has been confirmed" and it will be put to shareholders for acceptance or rejection,
or a Halt in trading , followed be a full Company takeover?, then let the Markets see who Bids the highest?,
Who knows, but Mark is pretty confident the Asset will be sold this year!!!!
Time is ticking on , the gold price rise is good, it may just force the high bid Jim is hoping for £1 would still be cheap, imo
yep, 40p if we are lucky. personally i'm now expecting plan b but hoping to be wrong. onion's data room is probably full of ****e and wishful thinking.
It won’t be sold for anywhere near that ducking Mellon wants to leave for ever so he’s a one flew over the cuckoo nest
Do you honestly believe that we’ll achieve that kind of price Roxi, taking into account the points put across by seasoned posters such as Seingred? At this stage break even at circa £0.50p for me feels like a mirage!
The Buyer of the Assets will reap the benefits, all comes down to what Jim is prepared to accept ??
60p wont cut the mustard, think he will stick out for 75p-£1, imo
No correlation whatsoever I’m afraid, never has been or will be AIMHO!
Gold moving Up through 1915 but not yet having any effect on CNR sp or volume.
Its been a while this share is the only one lagging in the PF, had great success last couple of days with a couple of my other shares, Just need Condor to make it a triple wammy!!!!!
hoping news before the end of August
Stay tuned to Onion radio for more updates.
Morning Slim,
Gotta love you, a cynical type would suggest you keep putting disruptive headers to undermine CNR and keep the share price down!
Albeit I know deep down you really love Mark and want the CNR SP to fly on one (or more) firm bids.
I think the recent slight increase in volume and SP rise is down to a realisation we are at the business end of CNR’s life cycle.
Let’s see what today through till Friday holds however with Gold above 1900 again it certainly helps nervous investors!
Keep the faith, a sale should be coming to a town near you soon……
Onion said Mellon won’t sell cheap so we are doomed , now waiting for a plan b to be drawn up to keep onion on the salary to next year
It’s a shame carlsberg don’t do a beer for diss poor CO ,s as mark would drown in it
A binding bid is received? Information likely to affect the SP has to be announced immediately doesn’t it? TIA
Simms, first majestic May well have taken part payment at 50 p for a mill they had no use for . However they have not added in any raise since in 30s or 20s so I am not seeing the reasoning for them paying 50 p again. How much would the bid have to be to equate to 50 p ?
F m 50 p has been an absolutely useless reference used to value Cnr all the way down to 15 p. Their own share price has a record not much better than Cnr ever since that deal.
'Why did us holders not have the usual option of a half share warrant??' Er, probably because this is an Onion+melon stitch up?!
Simms, any suitor will make an offer for the company . It will not be taking into account the share price here. It’s an asset sale! They will have more idea of how many shares are likely to be involved re options and warrants. They will also be aware of the 15% nica tax that will I believe be levied.
200 m plus shares ,15% , allied sale expenses and further running costs. Shg received 3 bids and m cap rose to £130 m . However no bids were of a decent level. Cnr is not comparable to Cnr and I fail to see offers much above £100 m.
Anyhow, Mellon has lowered his average nicely with the 2.5:1 15 p Xmas sale. Does anybody have a great reason why Dec raise was the first to not be oversubscribed. In fact it was nearly £1 m under ?? Possibly because all the warrants had gone to Mellon with the £1m loan note and none in the open offer. Why did us holders not have the usual option of a half share warrant??
Up we go again. Hopefully we hold this time and push onto 30p. A TSX player is waiting to probably make a bid but we need to be nearer 40p so suitor can sell in a 50% premium to shareholders as today a 100% premium is possibly hard to sell. Anyway the only people who can buy shares are those not under NDA or those that do not have any additional info not in public domain. However even if a buyer wanted £500k shares to take a 1% stake they would move the dial to 50p i suspect in their effort. Shares are tightly held so really no one can build a meaningful stake, unless they already have one. We sold a boatload to FM a while back at 50p so they may want to finish the deal and make a 50p offer. we are still in August so i suspect any offers will come early September. Lets see but all to play for as we go into the final rounds of bidding to see who might walk away with the prize. Will it be china or someone else?