We would love to hear your thoughts about our site and services, please take our survey here.
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.
ICB888
The other day I said all was rosy apart form rb selling. What a difference 24hrs makes.
I'm.glad First Majestic completed their due diligence to accept newly formed shares as part payment for a piece of equipment they had that was surplus to requirements along with 3.5m million in cash. Those shares we all believe on here at 50p are worth a lot more. Fact is this is a fantastic deal for FM they offload an assest from their P&L which would only otherwise depreciate will replacing with cash and hopefully a returning investment. First Majestic never sought out Condor to purchase shares with cash and invested as a opportunity.
From the Condor side of the deal we have made a commitment and progress by acquiring a SAG mill with large throughput which comes 12months ahead of of we designed and ordered one ourselves. However I asked a question on here the other day how much would one have cost if ordered from scratch, no reply. Someone else asked this yesterday in relation to the original capex how good a deal have we got for the SAG mill - MC replies with great question I'll need to work it out, don't actually know and possibly we didn't break down our original Capex to able to find out and I'll email the presenter later when I have the answer. What!! 6.5million and no due diligence on the cost.
Great news the drill holes are proving up mire gold and no negatives as of yet with another due to be released soon.
The land for me he keeps batting of as a non issue, however it will become an issue if we someone wanted to aquire us as I'm sure they will want this dirty work completed. The landowners I hope get a fair deal and not trampled on, yet at the same time agree with MC can't hold us to ransom and hopefully the government help sort this out fairly.
Still in and agree with Seingred will likely be 2023 by MCs own admission before production although with Condors lack of commited roadmap and dates will be fudged out to 2024.
Yes he states he's had 3 offers for finance but doesn't say whether good deals or not/passing comments or actual structured deals. For this study I hope we actually do the proper due diligence rather than the "I suspect it works out a little cheaper although I'll need to look back and work it out" - SAG mill statement.
All above are facts.
Come on first majestic silver, just put a reasonable offer on the table and let's be done with it. I'll happily take £1 at this rate.
RR I agree that your report comes across as negative. I think people should listen to it and form their own opinion. It just to make a couple of points.
Mark said the land was not going to be a problem. Some retail investors are trying to see problems but it’s a non issue which will be sorted without overpaying. He has been proceeding for the last 8 months as if CNR owns all the land.
Investors should take note of First Pacific’s due diligence and the confidence shown by them taking Condor shares at 50p in payment for the sag mill.
Mark has received 3 offers of finance during the conference.
C f , sticking with my prediction of 2024 before full production . Hope this mill has a long guarantee .
C-F agreed toll milling only way for quick revenue.
Disappointed MC didn't know the original Capex value of the SAG mill (how do we know we got a good deal other than 12month quicker delivery)
Land is an issue as owners playing hardball and government asked to step in and help out - this may drag on.
No timescaled roadmap as timescales are vague but "have plans on what is needed"
No mention of toll milling
PFS new one going to be carried out, although not yet known by which company, when decided who then hopefully appointed within 4 weeks with another estimated 4 months for report to be complete!
Finance will probably be 6months - likely longer knowing condor timescales.
No mining next year as that looks likely to be construction year so 2023 before income is likely.
Extra parts of the mill not known what is fully required or the capex, hence not on order yet (could be new or 2nd hand) will probably wait on PFS before ordering.
Good news we know we have gold and more drilling to prove it.
I think stalling for a buyer is the play here. IMHO
Not the best Q&A and the answers beg for another set of questions for clarity.
Sorry if this comes across negative but that's the way I interpreted it. Hopefully someone else picked up on more positives than I did as only watched it , scared to a second time in case sends me to sleep.
Just listened to it the once. Had 3 offers for finance whilst at the gold Forum. Will aim to make a decision on finance within 6 months.
Downside is the time it is taking. I was hoping construction would have started late summer. Our permits were initially granted August 2018. We were given 18 months to get to the start of construction and look where we still are.
Fast track to production?! This is not fast track in my eyes. Only way to fast track would be toll milling but no mention.
https://www.goldforum.live/DGG/Condor-Gold?bmid=85df432d6e7d