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Calibre make no mention of a Toll Agreement but I wouldn't expect it, because it isn't agreed. There is plenty of references though to accretive M&A's as their growth strategy. If they are as ambitious as they claim to be in their presentation hen a Toll Agreement would be second choice to a full takeover anyway. Not long to go now
Agree Simms, much clearer and better presentation of CNR and the potential
Re feeder pits - I was in contact with MC earlier in the year and he was clear it would not be a quick job. But as ever, probably better to do it properly and thoroughly - will pay off in the end even if its a bit frustrating along the way!
And yes, lets hope that there's some material progress on toll refining soon.
Good to see some updated slides. They were a lot clearer and more digestible so i think it will help better portray the company. no smoking gun but he made a good slide on the toll refining so he must be quietly confident something will come together and my understanding he is in Nic for 2 weeks so thats a good amount of time to work on critical matters to make something happen. His feeder pits he said will be submitted early next month with hopeful approval shortly after so a little dissappointing its not submitted but timescales are closing in.
Absolutely brilliant news for Nicaragua and Condor! Hopefully it is the start of an easing of tension between the US gov and Ortega, who I bet was fairly pleased with the news himself... Troika of Tyranny really Bolton? Don't let the door hit you on the way out!
Suggested a gold purchase scheme some months back and said I'd advance some monies to help with mine build. Plenty of Condorians I thought would do the same. Seems that Jim got in first with his recent support though. Pity we never got the chance as gold was around $1400 at the time I think. Anyway happy to have been foolish enough to take more at 17p!! Expecting news in about four weeks...unless there's something pre-Beavers?
Looking at the MC diary i think we will get update after 4 weeks because he is out in Nicaragua for 2 weeks, which is longer than normal presumably to move the permits along and close the land sales as well as hopefully agree up some way forward to get some toll refining. Any one of these news in weeks will be helpful to derisk. News on toll refining will probably only occur once the feeder pits are permitted. If he drops that rns then we are tantalisingly close to cashflow and a good rerate in my view. Good period of time to top up imho.
Well I am looking forward to getting an update from MC this week. Its been too quiet for too long. We need an update on how the companies assets are finally going to be monetised - after 10 years here, I dont think thats too much to ask! Whether its a toll deal with Calibre or Randy Martin - I dont care - Condor Gold needs to finally sell some yellow metal.. i'd even be willing to buy a few ounces myself if it would help!
The market needs to see that CNR is on the cusp of becoming a producer!
Mark out of the country for 4 weeks on a busy schedule. Beavers creek next week for the Precious Metals Summit. Then the week after he will be presenting at the Denver Gold Forum. Following these 2 events Mark is going to Nicaragua for a fortnight.
Hi Tester, welcome home after your travels. Yes, good to see the slow, but steady rise from 18p, seeing a good return on my top up, but a long way to go before reaching my retirement target! With regard to options and warrants, I would rather see them taken up as they pass the target price, if they have met the timescale criteria. I feel if they are taken up when the SP is quite a bit north of what the exercise price is, otherwise it could drag the SP back down again. As regards the dilution, that is going to happen whenever they are taken up. Haven’t had any updates from Mark recently. Hope he has found time to enjoy some time this summer with his family.
There are some conditions on exercising both the options and the warrants. For the options - "no options can be exercised within 12 months of the Grant Date, only up to 50% of the said options can be exercised in the following 12 months and, thereafter, 100% of the said options can be exercisable". For the warrants at 25p - "50% of the Warrants shall be subject to an accelerated exercise period if the closing mid-market price of the ordinary shares on AIM is more than £0.30 for 10 consecutive trading days". See RNSs on the 15th July and 8th July respectively for options and warrants. Note there are also further options all at higher prices than today and further warrants at 31p and 65p. See this page for further details: http://www.condorgold.com/investors/share-info
Any and all cash raised should be used, IMHO, for getting us closer to production. Anything else is a distraction at this point.
looks to me like there are possibly 6.7m warrants at 25p 2 x 1.7m options at 22p i.e. below current sp, which could be exercised profitably now
that's not much discount to current sp and if all exercised would add about £2.4m cash which as you say could be very helpful for drilling etc.
I'd prefer them to be exercised soon if poss while they are still at minimal discount to sp - I reckon benefits of further drilling, or having cash in the bank (available for feeder pit development when the time's right) would outweigh modest dilution. (Cash could alternatively be used for modest share buy-back given price so close to current sp. I guess that would provide a little boost to the sp, but think it's unlikely.)