London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
I would add that in the last webinar Ryan did not answer what they wanted $115m given they already have close to $200m in cash after gold forward sale and currently printing vast quantities of cash at almost $2400 gold. Ryan equally said, and cut short as i think he might have let on more than he should, about acquring resource as their aim is to boost Calibre shareprice by sorting its Nic project that has suffered from one of its operations to be barely operating and investors have a 2x cashflow valuation on Calibre compared go 6x for Canadian operators. They have now bought the Marathan mine to try and change the shareprice dynamic but until Calibre fully fix the Nic issue of under utilisation and low reserves they continue to be under rated by a large factor. They could keep on as they are investing $25m a year in exploration and in maybe 3-5 years reach 5m ounces that Ryan also spoke about as a key target l, presumably to sell to a major, or cut short 3 years and buy Condor, truck ore in 3 months and crack on. Add 1m reserves and 2m inferred and get one of the largest, ic not the largest, license over a huge amount of gold. We will need to wait but it seems crazy for Calibre to have so much cash on its books and nothing to do with it. I am sure China are also pushing hard and perhaps why we are still waiting but if Jim with a firm handshake says “very very soon” he meant it. i am just hoping his version of very very soon is similar to mine :)
Learner, but to be fair he already did a volte face from predicting 150 k oz for this year so what’s another volte face amongst friends lol.
For any newcomers here are some reasons to think Calibre is the leading bidder:
1) they are already well established in Nicaragua
2) they were busy completing a previous acquisition until earlier this year
3) they have just raised further funding of $115million and indicated they want to expand in Nic (although it's unclear if this is through expanding existing sites or acquiring new ones)
I've thought Calibre were the most likely buyers from day 1. But obviously if they have made a bid it has been on the low side; maybe rejected by Jim; and hence why they've raised the extra money.
This is my obviously very speculative reading of events!
Mega toll mining deal to process CNR for 20 years, no chance IMHO. Calibre in strong position now to take the lo if they want, unless the Chinese are very interested. CNR now very attractive buy with POG trajectory, but many will not risk investing in Nicaragua. Calibre already there and Chinese happy to invest in South America.
Up to JM now what he is willing to accept, if deal is not struck soon has JM the desire to raise finance to build a mine?
He has already said we are not miners but that would be some about turn.
Cnr permits are to construct a mine.
Assuming its calibre and linked to the fund raising would we not hear v soon. At what point do we dismiss that possibility?
Calibre probably wanted more than 50% of the profits, which is probably why the previous attempt at arranging a toll deal never came to fruition. Their prerogative of course. I assume they felt, rightly, that we needed them more than they needed us. But even so, it's a shame that a mutually profitable arrangement couldn't have been found. Regardless, it's water under the bridge at this point. I can't see it being revived now.
They have tried that and had just about finalised a deal with B2Gold before they sold to Calibre. They were impressed with the 2 samples that they took.
Would a mega toll mining deal be an option. How much spare capacity does Calibre have? Process our ore for the next 20 years and split the profit? No initial outlay for them
Strange how we have ticked up with the majority of trades being sells and only 16 shares bought. Wondering of there is a large buy order waiting to be filled
Very, very soon!
But when!!!
The Chinese are coming 👀👀
At least there should be an indication to prove or disprove the Calibre rumour soon
I realise we are all extremely frustrated with this but regurgitation of the mine/sale will solve nothing
Nero, fair point and the post was born out of frustration but the wheels on Condor do and always have turned very slowly..we could be looking at nearly 2 years to get this over the line. Not acceptable IMO.
Deal closed
https://calibremining.com/news/calibre-announces-closing-of-c-115-million-financi-8208/
Barnard I get your frustration, but this idea that production=better share price is just not so clear cut. Look at HUM, multiple operating mines, multiple jurisdictions, yet sporting a market cap less than ours!!!
Personally, I couldn't care less whether we build or not build, I want the share price higher and a liquidity event to exit. If the board believes that that will more likely be achieved via the sales process then so be it.
Let me put it another way, what if rather than embarking on the sales process 18 months ago, they announced the fund raise to start build, built the mine with no issues, and was now producing gold, yet after huge dilution and taking on debt, the market cap was actually less than it is today? You'd be fuming.
Nothing is clear cut in equity markets these days.
Looks like you may have been duped Slim
so in november 2022 condor announced the sale, stating an 18 month construction period for the buyers..guess what here we are 18 months gone still ******* about and gold at a high,without any new news.
we could have been producing now..remind me never to get involved with mc or jm again!
£4.?? Can't remember the pennies part but I'm sure Bob Buffet will remind us
No you don’t Surrey!
In truth no one knows the price outcome, it will be whatever Jim feels is reasonable and that is only if there is a conclusion.
Calibre is still only a guess, but if it is the loan deal closed today. With all the other cash they have coming in the stars are aligned for something to happen.
In summary, IF it is Calibre, and IF Calibre has been waiting for financing to be in place, we might hear something anytime from tomorrow.
I've been at 50p - 65p for a while, with a more recent leaning to 50p. However, with gold moving back up again (and likely towards $2500 before long) I don't think 55p is out of the question.
So, Shanghai is at $2446 while the Goldprice spot sits at $2387. The gap has narrowed to around $60. With ME tensions high this can only really resolve itself upwards.
London:
https://goldprice.org/spot-gold.html
Shanghai:
https://www.cmegroup.com/markets/metals/precious/shanghai-gold-usd.html#venue=globex