While we are waiting for news - I say get the hardware out and lets get drilling those un-investigated red spots from the aerial survey...let us see what we have. We could do with something to light a fire in this one....
"Our estimates for an initial open-pit operation alone show an NPV value of £172m (454p/share) and assume 0.80Moz produced over a nine-year period at a capital cost of only US$108m, which could be further lowered if Condor opts for contract mining. In reality, there is further significant valuation uplift potential as underground operations would be developed as the initial open pits run down and be largely financed by cash flow from the earlier years. The total capital funding will thus be substantially lower than the PEA numbers and there is substantial exploration potential as most of the land package has not been investigated other than by aerial surveys. "
"Despite China being poised to be the biggest gold consumer, Mr. Liu pointed to per capita consumption of 4.5 grams per year compared with a 24-gram global average.
“I don’t think investors will shy away from investing in gold…instead I think more people will buy gold and invest in it” given the relatively low consumption level, he said, adding that investment demand for gold will pick up as Chinese become wealthier.
China’s proposal in late September to relax rules to expand the list of approved importers from nine commercial banks will likely lead to more physical gold flowing into the Chinese market, which may help reduce premiums Chinese consumers pay, Mr. Liu said."
I've seen this in many other shares before, i've looked at our SP and we seem to hold around the 77p mark, very strong resistance at this price. we might not have much news for the next few months but i do no that within the next 6 months we will have a lot of interest, what a bargain price this is at the moment.
"Chinese gold bullion demand remains voracious and will likely pick up after the recent price falls and ahead of Chinese New Year. October saw China's second highest month for gold imports ever, according to Hong Kong customs data."
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