Condor Gld Share Chat (CNR)

Agree about not selling at this time but for different reasons or at least more reasons, i that I don't think it will fall much more and therefore it's too late. The upside should outweigh the downside. Who knows with AIM though

Tester

The problem is when an sp starts to fall, especially the way that it did on it's way to 50p, is that the mms start to play on any worries that you have and of course it's knowing the bottom and not to get too greedy

What I've been doing over the past few days is just reflecting on CNR and why I am invested here. Its only when the SP drops like this that I need a bit of reassurance...

I've watched some YT videos of what constitutes a decent gold exploration find. And listened to how few of them there are in the world atm.

MC says it himself at the end of the webcast - LA India is one project that he believes will be brought to production due to the low costs, high grades, good infrastructure.

So my musings over the last few days are simply that - I'm talking myself into CNR again and remembering all the reasons why I bought here in the first place. Whether the SP is 103 or 93 or 83 or 73 or 63 etc etc. What I wouldnt give for another shot at 50p... like we had last year and I sat and watched after failing to buy in and average down - very stupid. Then watched it rise to 200p. I wont make the same mistake twice.

The point is they have a proven valuable resource thats profitable to produce. They are also fully funded for at least 12 months. So what the market says they are worth is irrelevant. CNR is simply another three letters on a page to most of them. All they care about is charts, TA, market sentiment to the sector and whether the "computer says No"

But I do know through research and following very closely everything that CNR are saying and doing (including listening to the knowledgeable comments on here) that selling atm would be the wrong thing to do (unless you want to trade out and back in when the SP may or may not be lower)

Personally I cant bring myself to do that, because with a PEA on the table, there is always the chance that a bid will come in. And I couldnt bear to miss out after waiting 3 years! ;-)

Phew. Another brow wiping exercise done then.. ;-)

regards
T123

Some great stuff in there. I will comment in depth in a couple of days. I'm on nights at the moment and don't have the time right now.

Reported by Bloomberg and others that Goldmans Advice to short gold has now been withdrawn as Gold is below its target price of $1450 when it issued the advice. Goldman Sachs now has now said Gold may trade at $1530 in 3 months. In the longer 12 month time frame the lowest it sees is $1390 so around current levels.
If they are right then there should be no adverse effects on Condors plans relating to the price of Gold.

Thought the costs were less ....... will have to listen again

Wonder when we may hear whether the open pit can go lower. 50% more via open pit would be excellent

Thanks for you posts recently. I'm with you re wanting further analysis on the possible implications of the geotech drilling. The revision of the wall angle on La India to 50, apart from improving strip ratios as MC stated, would I'm thinking allow us to take the open pit to greater depth and include in it some of what would otherwise have been underground mining beneath the pit, but why that would increase costs to $700/oz is unknown to me. I'm sure we'll be put straight by V1d or Jibbo as you say.
Nice to get the chat away from the sp for a while, to be honest I don't think it's that important at the moment unless you're buying or selling. Sentiment will change in due course. Some trenching results due on Mestiza soon, could be more than interesting.

Anna

I think the main problems with production are the same that has always been ie the time and costs that this will take. that looking at that life cycle of a mine, previously posted, the sp will likely take a dip and that there will be issues.

So far, as an explorer, we have been 'lucky' in that we have had very little or no bad news. Obviously selling the company payback for us shareholders is a lot sooner

I'm not sure that MC can do anything different other than perhaps tell us more on timescales for what Tester and myself have mentioned.

Thanks for that

At one point MC mentioned a vein increasing the more south they good which is great.

One other point he mentions a road at the bottom and that he is looking at a central mill. Does anyone know what transportation is like around the various sites and are further roads going to need putting in?

Tester, its been interesting reading your posts today and how, just from that webcast, you have suddenly become more positive. It's as though MC has just come along with a comfort tissue to wipe away the beads of sweat from your brow ;) Illu2...liked your earlier post in response to tester's.

Maybe I've missed something vital (as I'm unable to religiously follow the bbs) but I have had the distinct impression for a long time now that MC is up for sale but if no-one interested, he's going down the route to production. Tester, you said somewhere today that you haven't see a sign of this happening (can't remember your exact words). What else do you think he should be doing if this is the intended route?