Oh well if someone will buy it then we are looking at minimum x 2-5 from the current levels, funny from last few years, no matter what we release to the market our SP does not move...we need that Permit!!!
Nice to see Jim Mellon giving CNR a bit of exposure in MoneyWeek today on the roundtable panel - his two recommendations were CNR and Gilead Sciences (Nasdaq:GILD). In a discussion on the merits of investing in gold miners he said:
'The old saying is that you rent these stocks you don't own them. But some of the mining stocks were fantastic last year. I've been investing in Condor Gold (LSE:CNR). It sits on what is potentially a five million ounce deposit, and someone will buy it - I'm pretty sure of that. The market cap is around £30m - £40m.'
Jibbo - If it's that simple, surely something must be getting in the way. I can't believe the Nicaraguan Government haven't got any lubrication to get the machinery started, despite some of the protesters wanting back-handers. The quicker CNR can start production, the faster the government can start receiving revenues.
At inferred spacing of 100m and assuming a depth of 200m (similar to the La India vein) as well as confirmation of width and grade by holes/trenches above and below the holes reported to day the ounces found are as follows:
Condor Gold (AIM:CNR) has moved a step nearer proving its La India acreage in Nicaragua is part of a sizeable mining district with the results from drilling one of the satellite deposits.
A scout drilling programme at Cacao indicated a significant dilation vein between La India and another deposit at Andrea Corridors and also that the prospect is the top of an epithermal gold system.
Intersections from the drill holes included 7.85 m at 3.75 g/t gold, 7.85 m at 2.95 g/t gold and 17.1 m at 1.74 g/t gold in three, with the Cacao vein open along strike and at depth.
Condor added it had now completed scout drilling at three satellite targets Cacao, Real de La Cruz and Tatescame with the next target the Andrea Vein 4km away.
Mark Child, chief executive, said that it was making progress in proving up the scale of opportunity at La India, adding the vein at Cacao is comparable to some of the best intersections on the La India vein.
“It is important to emphasise that Cacao is at the top of an epithermal gold system, preserved because the regional Highway Fault drops down the entire system towards the southeast.
“The Cacao vein is open down dip and along strike with signs of being substantially bigger and is prioritised for further drilling to expand the mineral resource.”
La India currently has a resource of 18 Mt at 4.0 g/t for 2.31Mln oz gold while Cacao contains 590,000 tonnes at 3.0 g/t gold for 58,000 oz
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