The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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Spot gold at 2060 now as well - looks like its through the 2050 resistance and now will move onwards and upwards to $2100.. with more US stimulus, and poor jobs reports coming out of US.. hard to see what can stop it..
But we need a lot more solid news here than "oh yeah, we might make a decision about mine production in about a year or so".. to actually get the party started..
regards,
T123
Meanwhile, gold futures 2070...
...fuel, admin, maintenance....
It’d be jobs, earlier. Mobile equipment operators, security, trucking...
I would not have thought that Mark was naive enough to allow that to happen. It would be well understood by the locals what is happening I'd hope. Equally as the wages are low anyway, there'd be nothing wrong with us retaining staff on some the the revenue generated.
I just hope that the locals dont start protesting / blockading if they think that the company is starting to "mine" without employing any of them to do so.. its likely that any toll deal would involve contract trucking company who would bring in external workers.. that wont go down well in the local community when they are all pinning their hopes for a decent paying job on Condor...
regards
T123
It’s possible tester that an agreement was made a while ago, just waiting for jabali for it to make sense to start the mill. I don’t have a good feel for how long it takes to get the mobile equipment in and start scraping, but it shouldn’t be 3 months. Again, that could have all been organised already.
I just hope we have the rights to the land or an easement to get trucks from the open pit(s) to the main road
I believe that 100 days / 3 months was the elapsed estimate from any agreement for toll mining to first production...
regards,
T123
I can't disagree with that reasoning. Time will tell.
So if jabali has now started drill and blast and they are going to open the mill and one assume ramp up, then right now could be our moment to feed our ore.
So if it is going to happen I was thinking it’s going to happen very soon / imminently. I was rather thinking it may not be coincidental to our webinar next week.
condorquestion that is also my view, plenty of ways to skin the proverbial cat, the devil of course is always in the detail.
Tester, unclear to me how much capacity jabali will use. I was thinking maybe they now restart the second mill but utilisation still not 100% and space for CNR. In other words they can operate that mill efficiently at high utilisation with our ore.
Rather than just reopening the second mill just for us.
First of all i think it's safe to say it has been a long, very long and at times quite boring at times for those who have been a long term CNR investor, sure some would have traded along the journey, depending on market conditions and all very healthy to do just that.
Today CNR seems to be on the cusp of becoming a gold producer, i would imagine Mark would want to quicken the pace of this to make the most of current gold market conditions, that would be a shrewd business move and maybe a little bit of extra cash to get the company in the best possible position.
AF - sad to say, I dont believe that toll milling is going to happen now. Calibre just restarted underground production at Jabali yesterday which is why they had 2000tpd idle at La Libertad in the first place. They can produce gold at 8g/t from their own ore without splitting any profits with CNR. I think that deal is now dead in the water. :-(
And no I dont think the 2nd hand plant belongs to NMC, they dont have that size of infra lying around anywhere.. more likely something from Mexico or similar I would think..
regards
T123
T123, do we know if this 2nd hand plant is owned by Nicaragua Milling ?
Don't forget toll milling isn't off the agenda, it could hit us from left field at almost any time. If we toll, it'll possibly be something like Mestiza and I'd say we could be producing via toll before y/e or close to it in terms of timeframe.
It's all to play for now!
Randy / Nic Milling were not involved in the 2nd plant search, although Randy was instrumental in introducing MC to the Chinese suppliers.
My take on oz p.a. is starting lower with an expandable plant reduces the capex (less share dilution) and gets us into production earlier giving cash flow to fund the plant expansion
Yeah he could do. His plan was always to sell once the BFS was done and the project shovel ready. He did try to sell a few years back but gold was rock bottom then and there were no takers. Could be a different story now.
AF - potential newsflow items, anything else to add?
1) 20,000 metre drilling campaign to increase resource to at least 3 million ounces plus drilling on new area. Should at least give regular excellent drill results with high gold grades. Infill drilling on Mestiza is required I think.
2) Deposit placed on 2nd hand mill - it seems as though this is nailed on now from that article - $50M capex was for the 4000tpd 2nd hand plant either in Nic or a nearby south american country..
???
regards
T123
Still a lot of mention re: toll so looking likely! I have a feeling Mark might put a for sale sign up EOY when “shovel ready”
But at what price!?
It seems pretty obvious to me that significant newsflow is about to take place. Be that days or weeks, it is coming.
Seems like Ric wants a piece of the action!
Previously:
NMC: 9,842,520
R. Martin: Nil
Total: 9,842,52
Now:
NMC: 5,000,000
R. Martin: 4,842,520
Total: 9,842,520
RNS