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That should improve the figures by circa 30% rather than 14%. If AISC is say $1100 per oz then profit will be $725 per oz rather than $500 so roughly 31% higher
Thanks for your insights during the last year.
It should be helpful to the sale process that Gold is currently at US$1825 which is US$225 above the US$ 1600 used in the BFS. That is a 14% increase on the BFS figures and this is likely to increase further in 2023.
Hopefully get the remaining land bought and let’s get the feck out of this abortion
I'm attempting to switch some shares from a fund and share account to an ISA but can't get a quote. Are others still experiencing the same thing?
Ross actually came out and said that he didn't rate the management
My brain's a bit foggy due to Xmas over indulgence lol
ICB yeah my mistake I meant the billionaire Ross Beaty! No attempt to deramp (I hold over 150k of these. Nothing I say on here will effect the sp. This will either sell or it won't and I am just hoping to get my money back. Onion Head has been proven to be completely useless and I just wish I had taken the hint from Ross Beaty and bailed a long time ago
Punter 64 you need to get your facts right in your efforts to deramp. Randy has not bailed as he and Nicaragua Milling still own 4.5% of CNR according to CNR’s website. That may have slipped slightly as I don’t think overseas investors were offered shares in the open offer but he certainly hasn’t bailed.
Hope everyone had a great Xmas!
Totally agree that until we have significant news we are anchored to 15p, as any profit above 15p is a profit and lots will look to make a fast buck and continue to de-risk whilst they have a chance. Interestingly the SP has gone up this morning however I can't sell a share on II
Not sure why you are disappointed. Anyone who has observed Onion Head over the years should have expected this outcome. Old Randy joined the party a while back after rightly identifying the great potential here but he soon bailed after realising just how bad Onion is. Says it all.
Thinking back at all the share price predictions this time last year, none of us predicted being at 15p after the release of the BFS.
Yes, the sanctions weren't a great timing, but we should have had the financing done and dusted before these were announced. All this talk about organising financing in parallel with the final stages of the BFS. Then all the extra time trying to get the capex as low as possible to then not even build it ourselves.
We should have signed contracts for the financing with confirmation/release of funds once the BFS was released. Other companies in worse situations had done this, why didn't we?
I am really disappointed in where the share price is and the poor decisions made that has got us here.
What we have now though is a monumental overhang at 15p. We have £3m sitting at this buy price so i can just sense this is going to be quite sticky to get the price to rise without real value creation in bids for the assets. little else is going to move us, except perhaps risimg gold but less so as we are not financing the production today, If we now end up dropping the sale sign for lack of sensible offers it will be a further struggle now to formalise the financing as before this disastrous placing we were over 30p and we are now 50% of that just to raise a pitiful £3m. one of the worst decisions made by the bod. A total own goal when other options of loans in earlier RNS was turned down. what reasons they turned down loans and went with the massive turkey JM came up with only JM knows.
Well looking at HL accounts - all I can tell is all the cash I put in there and my share sale cash has all been used to buy the 15p entitlement shares - but as of yet cannot see numbers of shares bought or value for them on the accounts.
Fair enough, let’s see what we ultimately end up getting! GLA.
If I comment on likely share prices I only do so on the basis of what the company tells us about the value of our assets by RNS or in the course of interviews or presentations. We have all seen the BFS and you can work out value from that. In terms of comment from Mark in his interview at Mines and Minerals on 9th December he talked about having US$100 million to 200 million. Converted to Sterling that’s £83 million to £166 million approximately.
Based on the current market cap and sp the suggested sp would be between x3 and x6 the current sp of 15.35p.
The predicted range would therefore be between 46p and 92p.
I don’t expect you reply as is true to form, what is your esteemed prediction regarding the sale price?
The RNS on 22nd November stated:
“Condor Gold Provides a Strategy Update and Appoints Advisor to Sell the Assets
Condor Gold (AIM: CNR; TSX: COG) announces that following a robust and economically attractive Bankable Feasibility Study also known as a Feasibility Study on the La India open pit it has appointed Hannam and Partners to seek a buyer for the assets of the Company. On 26 October 2022, a Feasibility Study Technical Report was filed on SEDAR titled Condor Gold Technical Report on the La India Gold Project, Nicaragua, 2022 dated October 25, 2022 (2022 FS) and is also available on the Company's website www.condorgold.com”
Since then the funding has been successfully completed and the new shares issued and trading since yesterday.
This is a time to remind investors why CNR is conducting an asset sale. The market has refused to recognise the value of Condors assets (its gold in the ground) in its share price. The company is therefore selling the assets in order to secure proper value in accordance with normal industry valuation metrics for pre production gold companies. That value equates to many multiples of the current 15p share price.
There is talk on the bb’s that Jim Mellon just wants to get his money back and 40p would do the trick. This is simply deramping nonsense. Jim Mellon is gold bull and has not had £ millions tied up in Condor for many years just to get his money back. Jim Mellon is only ever interested in making multiples of the amount he has invested. He has made serious returns in the past on several investments in commodity companies. His longtime partner in the commodities field was Steve Dattels whose early career was at one of the worlds largest gold companies. Jim Mellon has the knowledge and the contacts to obtain a proper valuation for the gold in the ground both proven and potential to over 5 million ozs..
Let’s not speculate too much until we receive an update and see whether Hannan give any comment on the £100 million to £200 million range mentioned by Mark.
Jm is sick of onion heads **** and bull and duck ups wouldn’t you be. In my eyes the mans a blagger couldn’t even turn up at a agm meeting while sitting in his flat. Completely out of bid depths like I said for years the right pilot would of got this done with a good return
You also have to think from an investor. If they invest $100m to buy Condor and $100m to build the mine then in 18 months they can easily start to extract $100m cash within 12 months from production and forward sell gold for the other $100m so theoretically zero cost in a very short space of time. The market cap could be £250m so an investor could then sell on Condor for a £250m price tag after all costs extracted. Its a highly attractive proposition and really i sense it is not lost on JM who is no mug. I just cant fathom anyone selling this project for less than $100m as jim would probably lose money given his 12 year stint and MC would walk away with a few million. if the project happened JM would make 10x more return so i am not sure JM is not looking that at ove a 36 month period. Certainly early January should be crucial as anyone interested will have showed their hand as its been now a month since the sale sign has gone up.
Line of thought on the other bulletin board suggests a relatively low sale price and therefore a quick sale - we will see, with all the warrants Mellon has it would suggest his average price is potentially below 40p now.
I think a quick sale would suit everyone.
Anyone got any insight into when the results of stage one of the statements of interest from potential purchasers is likely to be announced? Could be the fuse that ignites the sp. Alternatively the fuse might fizzle out having become damp due to being stuck up a cucumber.
My allocation in on 15th then again on 26th ( as usual with this broker about four entries for the one CA )
Not many new ones at 15p , not sure I would of gone for excess if allowed , I see anyone who did got the lot .
On a day when all the other PM stocks are up a touch, CNR drops.
ISAPENSION told us that this would be "60p soon". How long ago was that?
How long is soon ISAPENSION?
I made a mistake on the excess shares on my HL form. I was taking allocation in iSA and putting them in trading account, and in the first box put my allocation number only, instead of total amount, with clear instructions of what I wanted in the message. I then realised my mistake and sent secure message to H L but had no reply last time I logged in. Will check later today.