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Condor Gld Share Chat (CNR)



Share Price: 77.50Bid: 76.00Ask: 79.00Change: 0.00 (0.00%)No Movement on Condor Gld
Spread: 3.00Spread as %: 3.95%Open: 78.50High: 78.50Low: 77.50Yesterday’s Close: 77.50


Share Discussion for Condor Gld (CNR)


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FOREMAN
Posts: 1,490
Observation
Opinion:No Opinion
Price:93.50
morning all
13 Sep '14
I agree we should ditch NUMIS, from the £1.10 target price & the recent right up ( misleading) BFS not pfs we investors have been shafted to the tune of £200,000 & ie 2 mill, from a£1 _ 90p over the last week, unfortunately no 1 will be held accountable & it will be forgot about within weeks, NOT HAPPY MC, .
 
dpg78
Posts: 149
Off Topic
Opinion:No Opinion
Price:93.50
Re: Numis
13 Sep '14
*Grammatical error (ironic eh!)
dpg78
Posts: 149
Off Topic
Opinion:No Opinion
Price:93.50
View Thread (3)
RE: Numis
13 Sep '14
There is a grammar error in that post but I don't get paid to post! ;)
dpg78
Posts: 149
Off Topic
Opinion:No Opinion
Price:93.50
View Thread (3)
RE: Numis
13 Sep '14
Agreed, either proactive have made a typo and not bothered to correct it, or they just printed verbatim that which was given to them from Numis. The latter would suggest a typo from Numis or that the representative from Numis can't string a sentence together properly, considering their recent valuation I suspect incompetence! :)

Either way it makes both companies look unprofessional (is there no proof reading and/or editing process).
Wondergoals
Posts: 1,422
Off Topic
Opinion:No Opinion
Price:93.50
View Thread (3)
Numis
13 Sep '14
The proactive investor article says this: 'The cash should fund Condor into the first-quarter of 2015 and to complete a pre-feasibility study and being work on the more at La India, Numis said'. What does that mean?! After such a detailed RNS is this the best Numis can do?

I don't think the company is being well served by Numis at the moment. And I wonder if the leak about the placement is anything to do with them too?
Wondergoals
Posts: 1,422
Off Topic
Opinion:No Opinion
Price:93.50
Numis
13 Sep '14
How on earth have they worked out a target price of 110p?!!!!!!!

I'm looking for 4x that and all the evidence I see says that and possibly more is achievable
V1d-
Posts: 842
Observation
Opinion:No Opinion
Price:93.50
Thoughts Part 1
12 Sep '14
The following are just a few thoughts that I was typing out following on from the Fundraising and yesterday’s presentation by MC. It was prompted by the points raised by kiedo and maybe adds a bit – of verbiage at least – to tester’s post.

“ Usually MC is careful in the way that he words RNSs, so, in that the wording is a bit fuzzy, either he was knackered from the stresses and strains of raising a chunk of money in a market where it would be easier to get blood from a stone – even before someone threw a spanner in the works - or the final decision as to the exact form of the BFS is still to be decided.

In the presentation yesterday he did say that they could do a base case on what Indicated resource they have now, or drill up the 300k of OP Inferred (80k India/California, 160k America, 60k Brecciated Zone), OR yet again, include an addendum going on to include some of the UG ounces.

There has been a lot of information put out about the prospects for significant resources on other areas on La India and also other concessions, all of which, if added into the mix, would enhance the productivity of the project. We are also looking at a macro environment for the PoG and mining companies generally which is dire.

The trade-off IMO could be whether to spend more on drilling and exploration at this stage, while the PoG is low, to bring some of the known-about additional gold into the projections, or to keep going and complete the studies on a smaller project.

I think that two factors will affect this decision. Firstly, the involvement of the IFC means that there is already a Bank in there doing its Due Diligence, so a third party is effectively doing the “Bankability” bit of it. Secondly, MC has presented at the Colorado Precious Metals summit and will shortly at the Denver gold Forum. We know that he has interested parties already asking for data and a view of the project, and I am sure that he will be renewing old acquaintanceships and gaining new ones as he goes along.
V1d-
Posts: 842
Observation
Opinion:No Opinion
Price:93.50
Thoughts Part 2
12 Sep '14
My background is as an FCA, and I’m not sure from reading all I can about PEAs, PFSs, DFSs and BFSs that it will necessarily take much to move to a BFS – ie a full Business Plan – if the “PFS” work is accurate enough and there’s a Bank already about the place. The Resource/Reserve model and Pit design are the crunchers now that the Metallurgy, Geotechnicals and Hydrology studies are done. MC has employed senior local staff to concentrate for a long period of time now on the Environmental and Social Impact Studies, he has the Nicaraguan Government’s full support – and I am sure that they will be chivvying him along to get the mine built asap.

So, I think, it’s a matter of getting the project to a suitable size to generate an acceptable bid – or demonstrating that it’s there but for the digging – to a suitor who is going to come up with the money/shares. No point spending money on completing a formal BFS if you don’t need it.

It’s worth looking at the World Bank’s website and noting their separate section on Nicaragua. For me, the involvement of both the IFC and the Nicaraguan Government takes the geopolitical risk away almost entirely, and this is a key issue for an acquirer – you just need to look at the El Salvador situation to realise that.”

http://www.worldbank.org/en/country/nicaragua
tester123
Posts: 521
Observation
Opinion:Strong Buy
Price:93.50
Placing
12 Sep '14
No wonder MC was annoyed about the placing "leak"... Its damaged his own wealth in terms of share dilution due to the lower placing SP. Also, I bet the sellers of the Mojarra concession are none too chuffed with MC - negotiating payment for the concession in shares at £1, when the next day a placing happens at 90p... Not a good way to make friends and influence people... Totally out of MC's hands though, but annoying for him and us nonetheless.

By the way, I thought the new slide in last nights presentation was interesting regarding Condors new "twin" strategy - not seen this before...

CONDOR GOLD PLC
Strategy Statement - Twin strategy:

• Build an 80,000 oz gold per annum mine at La India Project from 1.16 oz high grade open pit, with the potential to increase to 100,000 oz per annum from existing satellite open pit deposits

• Continue successful exploration strategy to determine if there is sufficient additional resource to double production over the next 4 to 5 years.

AHEM!! Double production in the next 4 to 5 years!! - i.e from 80-100kozpa to 160-200kozpa... And there is no doubt in my mind that La India concession has enough gold there to make that possible - CNR has only proven up 10% of the concession area ffs..

Considering some of the deals that have been done for similar companies to condor in recent months - tell me that someone, somewhere is not seriously running the rule over CNR and La India right this minute.. They must be salivating at the thought of it! And its going incredibly cheap right now...

I think the only thing stopping bids coming in just now is the lack of a PFS - once that happens, give it 3 months for some DD and then start the bidding... And I think minimum offer will be £4 a share. Even with the extra placing shares.

(Oh - and right now the weak pound is actually helping us to get a higher SP in sterling as the sale price will be in USD.. ;-)

regards,
T123



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