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Doubled from low due to the gold price increases, that’s all.
Seingred, you make very good points usually, however I have a problem with your company comparisons as you frequently refer to production ozs and not profit or P/E ratio. Since you raised it, I'll take TSG as an example. I'm not familiar with the company, so maybe you have more insight into the numbers, but this article indicates that TSG have a P/E ratio of 7 (which is itself usually considered to be pretty undervalued) https://uk.finance.yahoo.com/news/stock-market-crash-d-invest-065902916.html
At a gold price of $1950/oz and 50k oz per year, CNR will be making $62.5m per year. Applying a P/E ratio of 7 and converting to GBP gets us to a £333m valuation. Can't say very accuratly what the number of shares wil be but we know that MC hates dilution as much as we do, that's why we'd be starting small in the first place. 160m shares would give a £2 valuation. That's at 50k oz production. Then we scale to 170k oz+...
Patryk , would you like to tell me how many condor shares were in issue when cnr was £1.60 all those years ago and the market cap ? We have over doubled the number of shares in two years .Posters here 2 years ago reckoned we were a year and a half from production .we are unless toll milling happens presently two years from production . So further away . Of course we are closer to pouring gold than we were two years ago but certainly not imminent or guaranteed . Also after selling a 80-120 k oz narrative for years we are now hearing a 40-50 k oz production story .puts tsg in our potential producer peer group . They pay a dividend and have a m cap well under £100 m
We are all eager to make profits here but sometimes a dose of reality is not a bad thing . The market dictates our value not posters .
My point about our sp doubling was really for slim .a 100 per cent gain is not a bad place to be with most news yet to come .
Connect, I think you have summarised perfectly!
We have three choices, Hold, sell or buy more (subject to funds/risk tolerance)
The price is dictated by who wants to buy, and who has stock and wants to sell, nothing more and nothing less however much we believe the stock is undervalued (which it is!!).
I believe MC is fulfilling his side of the deal progressing as we are!
As an investor we always want to buy at value and like many here I have bought higher than today (but equally been fortunate enough to have bought when low), however for those people unhappy who maybe they think they can make more money (or lose less money elsewhere) good luck to you.
Personally I am confident in the progress being made and can't think of a better place, equally how gutted will I feel if that big rise and total re-rating comes as predicted and I have sold (greed is good).
Life is about choices, keep the faith in MC!!
Well said Patryk, for all the LTH’s the SP is a bitter pill to swallow, but what can we do. I bought all the way to £2 so £0.50 is a joke with the asset we have and de risking to date. We have just have to accept it as it is or in my case walk away with a big loss after 10 years. ATB & GLA as always!
Singred the fact that it has doubled is irrelevant here as we are still undervalued big time considering all the progress and resource, this was over £1.60 at one stage with less than half the millions of dollars already spent on the project And proven resource, gold is at all times high and we in reality are still in the low 50s (way undervalued) and we are closer to pouring gold than ever before... It’s time the Market wakes up.
Although not earth shattering news ,the land aquisition figures have moved from 65 per cent ,where they seemed to be for ages to 85 per cent which is definitive progress . As ever more patience needed but peeps should bare in mind that the sp has doubled in under 6 months .
ah, mb, that'll be one. Shoulda guessed...
"Same old pony which we all knew about"
Yes, Slim, you have correctly understood the entire point of this particular RNS. What I want to know is who ticks up your pithy one-liners...
We had new news yesterday, which although treated as something of an anticlimax by this board and the market in general never-the-less all but removes the land purchases as a cause for concern. Yes, I know 85% isn't 100%, but it's close enough, given that essentially all the major plant areas are already accounted for, that we can now move on and find something else to complain about!
Slim .... spot on mate.
Just feel the 2 rns that sandwiched the webinar was all the same pony getting us heated, clearly we will
Have to wait until year end for completion of land and deposit for the plant ... hopefully he won’t miss this target.
slim, what's pony about it? companies are required to provide these statements and it formally reports the good progress the company is making and its strong financial position. It also brings numerous items which have been separately reported together into 1 place - v useful.
Same old pony which we all knew about