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Condor Gld Share Chat (CNR)



Share Price: 87.50Bid: 86.00Ask: 89.00Change: 0.00 (0.00%)No Movement on Condor Gld
Spread: 3.00Spread as %: 3.49%Open: 87.50High: 87.50Low: 87.50Yesterday’s Close: 87.50


Share Discussion for Condor Gld (CNR)


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Jibbo
Posts: 15,339
Answer
Opinion:Strong Buy
Price:102.00
T123
31 Jul '14
Can't see it dropping much below a £1 before the uptrend resumes. Hopefully we'll get some impressive assays soon.
 
tester123
Posts: 504
Off Topic
Opinion:Strong Buy
Price:102.00
Might get a chance tomorrow pm
31 Jul '14
If the incredibly short sighted profit taking continues and folks want to be out over the weekend and drum up a bit of holiday spending or beer money for Friday night, then I'm hoping we might see low 90's or even better high 80's again tomorrow or maybe monday am..

That would be a nice gift! :-)

regards,
T123

PS Just let me know before you buy would you, so I can get in first?! ho ho, just kidding ;-)
Slippery1
Posts: 606
Off Topic
Opinion:No Opinion
Price:103.50
View Thread (2)
RE: Come on folks..
31 Jul '14
Agreed, waiting for the chance to buy now the money's in place
tester123
Posts: 504
Observation
Opinion:Strong Buy
Price:104.50
View Thread (2)
Come on folks..
31 Jul '14
Keep selling as many as you want to part with for a quick 10% profit, there's a good day trader.. Jolly well done all of you on making a whopping £X00 since yesterday.. good show chaps.. :-)

There is lots of money sitting on the sidelines just itching to buy back in sub £1.. Very kind of you to give all those nice people a chance to catch the Condor Gold train again! :-)

For all the outsiders looking in here - you need to remember, some people have been building stakes in this share for the past 5 years so that they can retire very comfortably at a young(ish) age... They are not interested in a piddling rise from 86p to 116p.. even though it makes them thousands of pounds of paper profit when it does so - they are in this for the end game, whether that's in 3 months or 2 years from now, it doesn't matter that much really.

From 100p we are looking at a 4-5 bona fide genuine multibagger here. We are not talking about some 5 billion shares, £5M MC piece of crap with David Copperfield as the Director of Illusions.. CNR is the real deal. Real reserves in a good low cost location, real management with incredible mining experience, low number of shares in issue, good funding prospects, no debt, undervalued, Gold fund backed, operating in a decent pro mining country which needs mining royalties income (along with employment for its citizens) to survive and grow as a country.. - need I go on?!

There are so many reasons to hold these shares.. You can probably tell that I am being a bit tongue in cheek when I am encouraging you to sell them! ;-) But by all means do so if you want, its your choice. I will buy even more here soon with the greatest of pleasure....

regards,
T123
Jibbo
Posts: 15,339
Answer
Opinion:Strong Buy
Price:106.00
Tester
31 Jul '14
Yes good point. That's what comes of copying and pasting without thinking about the content!
Wondergoals
Posts: 1,397
Off Topic
Opinion:No Opinion
Price:106.00
Tester
31 Jul '14
I'm sure we all forgive you for nit-picking, especially given all else you write which is spot-on!

I particularly like your conservative £4 target and the notion of a 288m2, world class, low cost, producing gold district

thanks
tester123
Posts: 504
Observation
Opinion:Strong Buy
Price:106.00
Jibbo
31 Jul '14
Don't want to be seen as a nit picker but in the interests of complete transparency for your post... I believe that at 106p Condors gold in the ground per oz figure is $29.50, not $22. When the market cap was 80p, this figure was $22.

But I completely admit that I am splitting hairs here and I certainly don't want to come across as being pedantic - because with recent M+A at $125oz, its quite easy for us all to do the maths! Despite the recent (very small) rise in the SP, I think we both are in agreement that we are still 4-5x undervalued here. A £4 target is not at all unreasonable (I would use the word conservative actually) given what CNR have and are now very soon to publish. (Numis - you are going to look very silly unless you raise your target SP figures quite soon!)

Tell you one other thing I would like CNR to announce that they are applying for - A mining permit. I believe that this can be done soon after the PFS with all the Env Studies completed etc. And when that gets announced to the market as being awarded (with the Nic Gov being so pro mining and having already declared La India to be Nics next big gold mine after B2Golds El Limon and Bonanza then awarding this permit is really a formality!), then all the boxes will have been well and truly ticked for La India to become a world class, low cost producing gold district... And CNR own all 288km2 of it! How can the SP still be so low?!! :-)

regards,
T123
SeriousPunter
Posts: 172
Observation
Opinion:Strong Buy
Price:106.00
View Thread (2)
RE: Fundamentals
31 Jul '14
Jibbo, thanks for your post, clear and straight forward.
Jibbo
Posts: 15,339
Research
Opinion:Strong Buy
Price:106.00
View Thread (2)
Fundamentals
31 Jul '14
1. There are only 38.23 million shares in issue. At £1.06p/share the M'Cap is just £40 million and is significantly discounted to the current NPV of £5.50p per share as per the PEA (Edison have valued CNR at £6.14p per share). Mark Child owns more than 9% of the company so has plenty of 'skin in the game' and Regent Pacific, an investment vehicle for renowned entrepreneurs Jim Mellon and Stephen Dattels have bought 10% of the company at £1.60p/share after conducting significant due diligence - a significant vote of confidence in the project.

2. CNR has 2.33 million oz of high grade gold in one location at 3.9g/t, which is three times the industry average (1.08m oz of Indicated) and is one of very few resources of that size and grade in the world. The La India District has been increased in size by 44% to an impressive 280 km2 of highly prospective land (as shown by the geophysics results and the ongoing trenching programme).

3. Metallurgical tests have produced an excellent recovery rate of between 92 to 98%. That compares very favourably with other low cost producers such as MML 89% and AR. 90%.

4. CNR already has the biggest resource in mining friendly Nicaragua, despite the presence of B2Gold, which is well established in the country and is also highly profitable. CNR's La India district holds at least 5 million ounces, but probably a lot more and the broker Ocean Equities has suggested that although CNR already has a 2.4 million oz resource, the company has just been 'chiselling at the tip of the (gold) iceberg at La India'.

5. Within two months CNR expects to publish its PFS which will see a switch of CNR’s Indicated resource to reserves. With the completion of the various studies which make up the PFS the report will also substantially derisk the project making it significantly more attractive to potential buyers/partners. Recent takeovers (post PFS) suggest reserves could be valued at well over $100/oz and given that CNR's resource is currently valued at an rather insulting $22/oz the potential upside over the next few months is clear to see.

6. Recent Numis comment: ‘One of the most impressive aspects of the project is the excellent infrastructure - tarred roads and power lines run through the La India concession and there's a hydro dam nearby. Walking the ground we got to see first-hand the sheer size of the epithermal vein system in the district, most of which remains untested. The potential for extensions, hidden deposits and new vein sets in an under-explored high grade system, coupled with the excellent infrastructure is extremely compelling. Add to that a supportive pro-mining government, and our parting thought was that this is a project full of tick marks not red flags'.
Wondergoals
Posts: 1,397
Off Topic
Opinion:No Opinion
Price:106.00
Trenching results
31 Jul '14
I wondered whether yesterday's sp excitement and increase may have been the result of a bit of leakage of the trenching results which we're expecting v soon.

However, calmed down today, so perhaps not.

I would expect though that when they arrive that will be trigger for more significant sp action - we know that we only know (!) about 10% of CNR's tenements but that we already have indications that there may be significantly more gold lurking, waiting for us to unearth.

I'm pleased that sp holding at raised level, and see no reason why it should slip back (other than MM fun and games) - news on trenching, pfs and any other surprises MC has for us should drive this significantly further north over next few weeks

o/t sorry - Sein, you're right about the RRR horror story; am sticking with RGM now as that's where AB's pension is and near-term potential with Horse Hill ..



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