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There’s only one thing pouring in at the moment and it starts with a B and ends with a T No cut of time on the proper process so this with rattle on till next year then a plan b will come to light
Not sure what this is all about? Anybody who was serious, is in the process, late comers may be hoping to get it on the cheap as it’s been drawn out so long. Needed tighter parameters IMO, take control of the process and get it done! I’ve better things to be doing with the cash
Punter - I am saying that processes be it be sales , planning etc are taking longer since covid due to people working from home etc . I think they are just trying to squeeze as much out of the first binding offer to put to shareholders as a company sale as an asset sale is messy . MC said himself that the only reason they are calling it an asset sale is so they can approach multiple potential buyers and are not bound to a small number by the takeover panel . I think the non binding offers will firm up to binding when the Jim Mellon price is hit and I think they are not far off with all this confidence in the last week or so . All my opinion
Goldman, that may or may not be case but can you explain why so many are supposedly joining the process now? I'm stumped. It has nothing at all to do with covid!! Have Hannam not been contacting enough companies, or the right companies? I find this news of late arrivals annoying. It smacks of a very long drawn out 'proper process' and meanwhile Onion will carry on drawing his monthly wage. The way this is going we will be into 2024.
The clowns he’s hire where busted for inside dealing which I told mc to which he said that was the 2012 old news
Extremely Diss poor where every you go to read there’s plenty of stick regarding onion 🧅 they cannot all be wrong NERO 888
Punter - these so called clowns you’re talking about hannam and partners are only the best investment bank in this space . Everything since covid is taking longer .All my opinion
'enquiries pouring in'?! What is going on here Onion? Why are there so many late arrivals joining the 'proper process' that started back in November at this ultra late stage? Didn't they receive fliers back then. What are these clowns you hired doing?
Certainly very confident and great to hear new enquiries "pouring in" as what often happens is a miner gets a pile of cash they need to deploy asap and this is a perfect project for a miner to take on. Within 3 years a built mine could easily be worth $300m+ and in the meantime extracted $100m-$200m in cash to pay down the cost of buying the mine. This is a huge win for whoever buys it but sadly it does not appear Condor investors will be the ones to reap the bigger rewards. Could be now weeks from a binding offer from what it sounds like.
Our buyer is now on the ‘horizon’…. Tick tock.
You have to laugh, the FTSE is down 1.55% and Condor is a safe haven up 3%
Come on CNR 😄
Good buying support so we should settle again over 30p as we wait for binding offers. 5 non binding offers you must expect 1-2 to become binding, if not a lot more. Nice to get an August offer. Lets see.
Enjoy Slim, it’s wall to wall sun in Turkey…..whereas just seen a notification from my golf course that is closed due to weather with a further inspection at 10am Uk time!
Iam on holiday,It’s raining here in the Caribbean🌦️☔️😂😎
Nero yr one of he’s disciples spreading the believe he’s emailed you in reality it’s extremely diss Poor there many many boards and social media platforms talking the same language;marks taking the diss out of people
Nero email the chosen one and ask for a dead line date for the proper process
Or the tone in which it is asked...
Cegamer, I've had a similar experience to Nero. I guess it might depend on the type of question you ask.
| but as always I encourage every investor that has reasonable questions to email him as he always responds promptly.
Sorry Nero, but this is outright fake news - I've mailed MC several times over the last 12 months, cc-ing all applicable emails, and not heard back. I have, however, heard back on comms as far back as 2016, on the same addresses. Make of that what you will.
I've mailed him 4 times in the last 5 months specifically in regards to a drop dead date re. binding offers; it's outrageous to me that a company would have a never-ending sales process on it's most critical asset, and NOT disclose a deadline for all bids to be in hand - if I were one of the non binding offers right now there is no incentive for me to close, when I can sit here and watch the SP drift lower, and lower......and lower, whilst the company does NOTHING beyond paying a fortune for a BFS and half a bloody mill, to get it pennies on the pound in 12 months time when the real "distressed seller" kicks in.
I find Mark and Jim's treatment of PIs egregious and deeply unsettling, I'm dumbfounded that so many familiar names persist to appear across the BBs despite the BOD's treatment of lowly PIs.
Nero, as I say you can’t beat a happy ending!
I know I have traded CNR and bought and sold as the trading dictates however it would be great for all small stakeholders to make money, life is too short 😄
Oh and enjoy your holiday ISA, it's raining and miserable in England.
From my communications with MC the sales process appears to be progressing well. From the sounds of things, MC is running the sales process as much as Hannam. Perhaps we will get news in the near future of further site visits leading up to a binding offer. I can only imagine that 3+ site visits proceeding to a binding offer would do wonders to bid up binding offers, but that's just my opinion. In any event, I believe MC is still confident that the sales process will be concluded this year, but as always I encourage every investor that has reasonable questions to email him as he always responds promptly.
This has been a long road for everyone involved, and now we have a glimpse of the finish line perhaps everyone involved just wants this to finally reach a satisfactory conclusion. If/WHEN we do see an RNS stating that a binding offer has been received, I can only imagine the relief we will all feel!!
Evening All
Currently enjoying a lovely hol so watching CNR from a distance!
Should add the SP is holding up well and can now sell in volume above 23p but can’t buy 50k shares so things looking more positive!
Albeit sun sun sun, Mohito’s for fun and great holiday atmosphere, maybe my CNR spec’s have been tinged!
Slim think you need a holiday 😄
Don’t lose hope folks…. Somebody put a fiver in today lol
Our total costs including a lot of work for 2022 was £2.5m. We will be running 2023 far lighter so while its likely £1.5m a year even at £2m gives us £1m for every 6 months. I am just looking at accounts and seems pretty obvious given substantial cost savings from no site clearance works etc. Anyway plenty of gas in the tank but just a waiting game now for binding offers.
Simms, I think last oct rns states pretty clearly that Mellon does not want to fund this project. I still do not get your logic that states £1 m will last 6 months when Cnr had £2.5 m at begining of jan and has raised £1 m 6 months later.
Agree that Mellon has more 15 p cheapo warrants to cash to keep us topped up. Obviously he sees value to him converting but doesn’t mean he sees your 50 p plus .
£100 m could be the number but perhaps it is less, we won’t know until an offer is announced and even then we won’t probably know how that equates to a share price return.
I think the various vaguenesses of the process is what is holding the sp back but we do seem to have established a firm base now hopefully.
We are hear to next year as onion couldn’t sleep straight let alone talk it