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Honestly DD, I have no idea, there are just so many variables. I'd be "happy" if I could sell my holding for anything over an average of 50p - which is such a shame given the potential that we had here. Even if the asset is sold, how much of the cash will be distributed as a dividend? Will there be enough liquidity to sell any remaining shares for a decent price? In fact, if a company buys the asset for cash + shares that might actually be better assuming the company's shares have a more liquid market than Condor's.
Again, just so many unknowns at the moment. I'm also starting to worry about the markets in general this year, things look like they're going south pretty rapidly. I'll be in no hurry to re-invest if I can successfully offload my Condor shares.
For the record I'm still sitting in the 56p - 65p range.
76p+
66p - 75p
56p - 65p
46p - 55p
35p - 45p
I'm curious as to what people think will be the value of the bid(s) as expressed in SP terms. I'll post a series of bands as follows:
35p - 45p
46p - 55p
56p - 65p
66p - 75p
76p+
Please tick 'recommend' against the level you think we will reach.
Gold at around $1860 is off to a good start for the year (though expect the usual monkey hammer when NY opens). With inflation likely to remain a theme throughout 2023 I'm expecting it to remain strong, possibly hitting $2000 again. I'm guessing buyers of CNR will factor this into any bid level decision.
FOMO (Fear of missing out) finally dawning on people. I also think that a lot of the open offer switching around has probably finished (I also engaged in this) and that we are now seeing cleaner market activity.
The share price is down to liquidity in the markets look at all small caps they are down massively except ones who have had bid approaches. Once this gets concrete interest the value should reflect and we are off to the races . Don’t price the buyout level with the share price . Potential suitors will know they cannot offer lowball and get the assets. I really do think we will get a price reflecting 50-80p but I personally think it will be top of that range as Jim Mellon will want a pay day for all the money invested. All my opinion
Finally the condor appears to be awakening!?
May the momentum continue... Woefully undervalued stock!
The only factor i can see that could help get us out of trouble is a parabolic gold price. Currently 1861 but if we hit 1900 it might add momentum to the bids. Certainly 1900+ gold will give us a good wind. At same time it makes going into production far more attractive and gold loans will be forthcoming if they lock im gold at 1900 with delivery of physical in 2024 so speculators could do well out of betting on gold rising. That will only happen if gold gets its mojo back and with scant safe havens gold looks odds on a good place to park cash. i was always amazed gold had got motored last 6 months but it looks that it is catching up and global governments are building gold reserves.
I think the market is starting to reflect the complete lack of buyout premium in the stock and the share price is rising accordingly, the consensus seems to suggest a takeout valuation range of 35p to 60p - the shares can be bought for 17p currently.
The risk/reward here surely favours the bulls at current levels.
Erm, nobody should need to explain to you that all crypto is a ponzi scheme?
It has no "value" as a currency because it is not stable enough to be used as such.
It's "value" is entirely equal to the amount of money that the next greater fool is prepared to pay you for the worthless string of bits that somebody expended energy to create.
This doesn't mean that you cannot make money by trading in it, but I don't think you can call it "investing", it is gambling pure and simple. Furthermore it is specifically gambling upon the stupidity of others. But given we are "invested" in a hole in the ground that hasn't been dug yet I suppose you could call that nit picking ;-)
Yes interesting interview. Interesting to see a slightly different view on crypto to some of the rubbish that’s been posted here. Using tether would be groundbreaking and is what they were discussing is the future, binary investment is stupid, holding both is sensible , you heard it from both . I am sure Nero can explain that it is all just a ponzi to them though.
So according to update even Tether gold approached Condor who would offer Condor $60-70m loan as long as Condor repaid in physical gold. If Condor could take the Tether gold and liquidate it into equivalent dollars and legally achieve that and get other gold loans from other investors you might well have a no dilution story. Certainly makes you wonder why Condor at an all time low in the industry for gold asset values has not taken the bull by the horn and cracked on. If we unlocked the funding in December we would probably be 40p+ and a far more attractive takeover as the financial risk would have been done. Now we just sit around twiddling thumbs hoping someone will make a decent offer when its obvious it will be far less value creation than going forward with the mine and maximising shareholder payback in the first few years of production and selling a producing mine. Totally different ball game and current approach is leaving £100ms of value on the table. We will see but its sad to see that we were pushing well into the 30s about to finance and we end up hitting rockbottom at 15p and now going cap in hand to possible buyers. To me it is all the wrong dynamics but at same time there is no way MC would have taken this option if he did not have indicative offers of $100-$200m already penciled in. we will see and it should be January we know if JM is a shrewd investor or lost the plot.
Did you do this to lower your average price Sakura7? Good luck anyway!
Let’s hope so. This share has been agony to date
Sakura7 I think you'll do really well out of that purchase..GL
Every trade has a counterparty. I was buying but someone sold to me
That 230,000 was me.
A slightly late reported trade of 230000 at 16p has just been reported as a sell whereas a 15000 trade 10 seconds later is shown as a Buy. The fact that CNR is Up 4.5% suggests the 230000 trade is actually a Buy.
I mean, come on, who is selling at these low prices!!!!