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I at least think once land ownership is 100% Condor with gold resource surely that is classified as an asset that could be pledged into the loan? I only mention as another gold miner has largely pulled that off as part of a finance package, albeit some other investors are injecting cash to the order of 15%. I personally sense a few weeks of no new news as its too close to recent raise and then boom we are off to the races :)
C f , I would be surprised if we didnt have an equity part to funding .Mark has always stated such . Time is getting a bit short for a toll deal to fund mine build . Unfortunately covid is getting serious in Nicaragua now .even by the gvnts dubious figures so it may be that calibre are being hopeful with their re start .
https://www.citynews1130.com/2020/06/01/nicaragua-medical-associations-call-for-voluntary-quarantine/
Lukas lundin is a mate of beaties and they have worked together so there are synapses between the two . Me personally I would be happy to have calibre shares through a deal as long as the deal was good .
Just imagine if no further fund raise was required and we managed to strike a toll mining agreement to fund the equity or as simms mentioned a few posts down to borrow against our investment in this project. Just imagine. Let's hope Mark has something up his sleeve.
Mark has known the calibre guys for quite some time prior to their purchase of B2's mines. I think we are closer than we would have been with b2 gold tbh.
Simms, It was actually B2Gold that tested our ore. I reckon we were close to a deal with them before the deal between B2Gold and Calibre took place.
Final one today but good article for the gold enthusiast looking at gold prices. Some might think that once Covid is over gold will fall while many might consider the negative interest rates being a strong factor, alongside many others.
https://citywire.co.uk/funds-insider/news/managers-of-soaring-gold-funds-say-rally-far-from-over/a1361952
Condor will have its time in the sun and i suspect knowing MC it will not be too long, maybe just long enough so that all those shares and warrants offered are forgotten about and Condor bounces towards £1 in the not too distant future. Do i sense we might have just seen the final load up by management before the BiG reveal :)
Also one thing i noticed with another goldie i invested in is they put in the 30% equity of the debt based on historical investment and no fresh cash requires. The argument is that Condor have invested £60m in this project over 12 years and the land acquisitions etc can be used as equity on the loan, just as you do when building a new build. Once you own the land and having planning banks lend you 65% of the final build value so no more to invest. If one gold miner can do that i am not sure why Condor cannot and seems relatively sensible way to leverage its assets, namely massive land package and $2bn gold with planning in place. All for the princely sum of 50-£100m depending on approach. Seems a good deal? The land values now owner (90% or so apparently) have massive value together with the planning in place so cant a finance be done on this basis?
I bang the drum but that toll deal was close with Calibre testing their mill with our rock and falling off their seat as the gold quantity and 98% recovery. If that happened no need for dilution as it would find all equity. Ross and Jim were apparently against on going alone but they have now trousered more cheap shares and warrants so maybe they have had their fill and perhaps MC can fight the pis corner. really given the faint whiff of grabbing stock on the cheap and diluting pis and i think they need to now press the button and show lths they have not been abandoned.
I will add to that, we probably won’t need a placing, as the rest will be done through debt, JV etc, MC cant fund a whole mine via a placing, a buy out is still on the cards. A lot can happen here, and we are closer than ever been before...
Yes there's is still the mine build to fund and so another placing will be needed for that. Not exactly an original thought though is it? Anything else your research has turned up? Like maybe the sky is blue and water is wet? Strewth.
If you're invested here you should believe that the cash raised in placings will turn into something of greater value to the company long term. Yeah, I realise that we're just now getting the first few rainbow-chasers with the recent SP rise, but most of us here are still the long-term variety, and long-term that circa 8 million or whatever it is that has been raised recently through placings and warrants will help to turn Condor into a fully independant gold producer on an under-explored district with maybe just maybe a gold bull run just getting going. I believe that 8 million will add multiples of that value to Condor's share price in due course. If you don't, what are you doing here? If you do, why are you moaning about it?
Hi seingred. Yes mate you called it bang on. I still think this has legs long term but as some have pointed out it’s good to stay grounded and realise more funds are needed and further raise is on the cards at some point.
Wont be long before the conspirators arrive claiming the MM's are holding this back or a big order is being filled, treeshake etc etc.
Simple fact is, this rose sharply on permits new and now we enter a lull period. All being well, we should "gradually" rise over the next 12 months as details of financing/land purchases/production-ETA become clearer. It tripled from the March lows during the run to 60p, traders and short term holders will take their profit and jump into the next big thing. When the time comes, they will be back ready for the next leg up. I'm happy to sit it, i'd kick myself if a bid came in while i was trying to trade these to get in lower.
Geovanni,well reasoned .the sp in April 2008 was in the45-70 p range .there are more than twice as many shares now in circulation so our present sp without dilution would be north of 80 p . We still have the mine build to fund .I think mc did the right thing popping a placing but would have liked to have seen it at a higher price .Not sending the right signal that it was hugely undervalued at 50 p plus when you are buying them for mid thirties with extra warrants . The jump from 20 p to 60 was nailed on at some point .40 p - 120 is less obvious to me in the short to medium term .A lot depends what happens with the gold price over the next year . I am not overly optimistic or greedy .40-80 p isnt bad anything else is a bonus for me .
Condor still needs to raise money through debt/ equity to pay for the plant and construction work. They gained approval at the last AGM to issue £25m of shares. So far they have issued £6.6m . If they need another £40m that is £12m of shares to be issued. At 40p/share it would be another 30 million shares. This potential dilution could to serve as a drag on the share price appreciating over the next 2 months. I've still got a hell of a lot of them and even bought more last week after the big drop.
What is puzzling is that there’s a lot of dogs out there that doubled/tripled in value with the gold bull run, we never seem to hold a steady rise... rising share price brings new investors, the market acted weird with CNR dropping this again....esp now since we are funded till mine is built, think the recent share dilution @36.5p didn’t help but it was needed:( ... we all know this is super undervalued, with some top names owning this company, now isn’t the time to sell for sure .... I just hope CNR for once would sustain the price rise...
Munch , did you see and ride the sub 25 - 60 p re rate ? I always said sub 25-50 p was the deal ?
Looks like there may be a drift in sp .thats how people get reasonable averages ,buying on the drop and selling into the rises . For me small buys and see how the news pans out .
It is feasable that there are more agreements to sell hence more cash needed. There are various things that could hit the sp as well as raise it .best to be alert as our moron in chief would say .
Takes all sorts to make a market I guess but the time to get itchy feet was over the last few years IMO. Now is the time to DYOR and then sit tight. There's a sense of real momentum now, so while the market may ebb and flow as markets tend to do, there's no better time to be invested in CNR as far as I'm concerned.
Apologies if I’m not as cool and calm as Warren Buffett but I think you would agree that investors are emotional wrecks and there’s always highs n lows. Even if it’s 75% or 50% to what many posted on here we are simply just having a discussion about the land ...... it’s not fully purchased right ? So by the time it is there’s a good choice Cnr will have a much lower sp than today. Many factors point to that and they include : good price pull back, market correction albeit not a crash ( I think ) and the delay in MC getting this over the line. If you look back there’s been many false promises and dawns but I guess it’s not all in MC hands to be fair. Wish you the best here but with further funding for plant and equipment along with inevitable correction in market coming I can see what most others can see.