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Seingred
I am not sure why you say I have waded in. I simply pointed out that Jim Mellons main point in his interview was his belief that gold will reach 5000 in the next 5 years. He was advocating buying anything to do with gold be it large companies like Barrick or small ones like Condor. Also keen on physical bars of gold and coins. The Condor time line was not his main point and he deferred to Mark for the accurate information.
I appreciate your deramping is to support your trading strategy and that’s why your persistent deramping needs to be called out. I am not sure how you find time to build anything as you spend so much time pontificating on this bb. So I return to where this started and request that you stick to your day job which I suspect does not involve any experience of constructing mines.
Icb, I may only be a builder but cnr are entering a construction phase , I would say it is closer to my line of work than any techies tbh . My original exchange was with simms ,which was a reasonable exchange of views , simms was accepting mellons timescale ,I dont agree . then you waded in . Are you saying that you also dont think his guestimate for 100 and 150 k oz are realistic.
When I stated that I didnt believe we would not be producing by the elections I quantified my logic by mentioning we had to update pfs and do a bfs etc . The argument was we dont need a bfs .straight from the ceo . We now await a bfs . So in hindsight it is always best to question the information given and not just swallow without chewing. Anyhow buildy work awaits .
With the world seemingly going in a tailspin with inflation about to go into orbit and Evergrande debacle and all of the worlds instability i still wonder why gold has not performed better.
Mesne, a long shot possibility yes but mellon says 100 k production.
If your answer for financing is q1 or 2 next year I would love to know how we will be producing gold next year.
Toll mining with Calibre.
Hi icb , I have left the directors to their job since I bought in in 2010 ,thats how I can question a timeline that is in my view unrealistic. How is this de ramping. Was it de ramping when in 2019 I said I didnt believe we would be producing by this years elections or were all the posters that attacked me just stupid and unrealistic? When I posted a year and a half ago the possibility of gold price dropping awax questione(perfectly reasonably) why I would consider this since the experts ( presumably mellon included ) were predicting $2500 .well excuse me for pointing out that gold did indeed drop for the last year along with the sp of most producers . It wasnt a prediction but pointing out possibilities . It is folly to go along with best case scenarios for future predictions .
I have been in since 2010 but have never paid £1.60 p unlike mellon but obviously me as a humble builder cannot afford to lose my stake whereas it is nothing to him and he can write it off against other investments so I dont really feel alligned with him and his warrants. So I trade when the opportunity arises so I am not under water .And I am not under water .
I think as a director of cnr he should be up on the timeframes . He did state 1 year and 18 months .if as a director he doesnt know he shouldnt just spout a random figure . Lets see where we are in a years time .However posters were quoting his timeline and I am questioning it .whats the biggie?
Incidentally ,when do you expect the designs to be finalised , the bfs and the financing for the mine build? If your answer for financing is q1 or 2 next year I would love to know how we will be producing gold next year.
As usual you don’t want to see both sides or anything against your narrative that’s obvious to all! It’s not about taking sides it’s about respecting others opinions however much we disagree with them.
I have simply repeated what Jim Mellon said in an interview about investments . He like a number of other market commentators remain bullish on gold and that has been given a boost by the increase in inflation that is undoubtedly taking place globally and is set to continue. Governments need inflation to enable them to deal with the massive and unprecedented debt they have taken on in response to COVID. Jim wasn’t sure of the exact timeline to production for Condor but that is not the most important think to him which is his belief in gold and it’s likely rise in value. That is why he remains Condor’s largest shareholder and will continue to support it going forward.
Jim doesn’t always get it right but as a successful professional investor I rate his opinion much more highly than someone who is very much less qualified to comment. It is to his credit that he acknowledges he is just a builder but I stand by my view that his incessant deramping at every opportunity is tiresome. He doesn’t agree with Mellon’s timeframe is the excuse for his comments even though Jim said he was not firm with his timeframe and that was a question for Mark to answer.
I do make my own choices and live with the consequences of my investments. I followed Jim Mellons lead in buying shares .
just before Nicaragua investment was made and have been in profit ever since. Clearly I would have made more money if I had sold some when Jim did, but he subsequently put it back in at higher prices. I am content to sit this out until production or a sale.
I think it is appropriate to return your pathetic, blind and naive comments to you as they are far more applicable to your remarks in support of the deramping individual. All companies have potential problems but I am not sure what the point is in speculating about something that in all probability will not actually occur.
You know what ICB888, I don’t like to come on here to cause arguments but you really take the biscuit! JM said gold was heading for $2,500 last year as well and regardless of how much money or how ‘clever’ he is, he has he hasn’t got a clue IMO nor have I to be frank! However your snide comments and attacks on Seingred are really pathetic coming from I’m assuming an educated adult! Seingred may well be a or not be a deramper, but he’s entitled to his two pennies worth as much as you are. He’s called it correctly as far as CNR is concerned far more times than what could be called your constant ramping, whether you find it palatable or not! Most LTH’s here such as myself are still in the red after a decade and counting and I apportion the blame on nobody but myself at the end of the day! We all have our own choices to make and live with our decisions and consequences at the end of the day, but don’t be so blind or naive to think everything’s hunky dory here. I commend MC for his efforts, stamina and commitment and hopefully we’ll get our just desserts some time soon this century!!!!!!
Of course, there are ways in which his opinion matters, even if it doesn't come true. It's good to have a major shareholder and financier who's bullish on gold obviously! It means he's not likely to sell the company cheaply, and if we have any trouble getting finance, I'm sure he'll get the cash together one way or another. He won't be doing it for altruistic reasons naturally - he'll want his cut, but while he's on board, I see virtually zero risk that the project won't get fiananced.
I feel like I'm doing Seingred's job for him, but JM has been predicting $2500 gold by "the end of the year" for at least the last two years running. He's just a guy, he doesn't have a crystal ball. Suffice to say, we'll be making good profits at around the current price. If it goes down, there'll be plenty of others in more pain than us and if it goes up, then yes, maybe we'll all be rich, but I guess my point is we *don't need* gold to go crazy to have a very profitable company, once in production.
I just listened to JM at Masterinvestor interview. The key thing to take away is not his comments on Condor where he did say to check the detailed dates with Mark. The key thing was his view on gold which he is very bullish on. He said he wasn’t holding it for $2000 which it reached fairly recently but for $5000 which he believes it will reach in the next 5 years.
So I take from that we are going to see great returns from Condor as it goes into production at a time of rising gold prices. If you plug $3500 into the current projections based on $1700 the profit will be mind blowing.
A little harsh IMO. I want to see us in production as much as anyone, and it *could* be sooner than we think, but I'm not sure how much store we can really put into JM's musings at this point. There's nothing very concrete to back that thought up, yet. Fortunately, I'm not overly bothered about exactly when we start producing, so long as we continue to make progress towards that goal.
“ but I am only a builder not a cnr director .”
The most sensible words you have ever uttered in the course of your tiresome deramping.
Just stick to your day job and leave CNR’s Directors to do their jobs.
Real, with a projected cost of $150 m it is naive to think the$6m sag mill will be the only long lead item required . I think its reasonable to think that we are waiting for, engineering studies,bfs and finance before ordering big ticket items . We can also see that we are entering a period where everything is subject to increasing inflation and unreliable deliveries ,particularly containers. Add to that the fact that generally cnr rarely comes near to their or many posters timelines (guestimates) . I will be amazed if we are up and running with either scenario in mellons suggested timeframe but I am only a builder not a cnr director .
Simms, I would be looking at 1 year min from funding . When are the designs finished ,when is the bfs complete and when is funding complete . My view is it would be 1 year min from finance . We do have one long lead item . Do we assume there are no other long lead items and as we see in uk presently, deliveries atm are hard to nail down . we were extremely lucky to come across a brand new completed ball mill but may well find that other items may not be so easy to source and as most note we are in a high inflation era. Particularly in respect to shipping . 1 years time for production,I dont believe it and definitely dont believe 18 months for underground .
I would like to see mc state clearly on one of his presentions production q 3 2022 .
Do we know if the rest of the components required to support the SAG mill have been identified and ordered? Or are we still waiting on the engineering drawings? this is key as these leadtimes are the ones we should be focused on now.
I am only listening to what JM said but we have for last 3-4 months been doing all groundworks and clearance and we have power closeby. lead times are the killer potentially and any 3rd party delays but the actual putting together of a mudular system once in country is not very long and a key bit of kit that apparently can have 40 weeks lead time is already sitting ready to be installed. I have seen mine kit installed within a year. We will see back back end of 2022 seems perfectly reasonable and my hope is that we bring in online sooner. key is to crack on and do everything possible now to make sure the actual build is not held up and mitigate all those risks.
hi simms, 12 months from now or from financing? I got from that interview he is saying 18 months till the underground.I dont see either of those timescales being the case ,would certainly be good but I dont believe it to be realistic personally .
I think the plans are quite far advanced already in terms of full design and plenty of construction work has already started with regards to clearance, power, roads and delivery of some of the key and long lead kit. Therefore we have already started construction. This will continue so that when we raise the additional finance, perhaps in early 2022 we can continue the construction and potentially have the mine operational in just over 12 months for the 100k plant. i watch quite a few miners and 12 months is often enough time to construct a mine in potentially more trickier situations. With key equipment on site already MC will be wanting to maximise that advantage. I think the reference to 18 months was presumably related to once cashflow is coming in they would have everything ready to increase the production by whatever is the shortest and cheapest scenario to do so. we will see but we are in construction mode today and very shortly we will have all the designs ready to start building and i am sure there is plenty that can be started on.
Simms , just listened to just beyond the condor piece. Do you think he means the start of construction is one year away or production. he surely isnt so uninformed that he thinks production is a year away but then again if he thinks underground is 18 months away he must. That would be absolutely great, unfortunately I think that is very optimistic or not keeping his eyes on the ball,or a good old fashioned ramp before the next placing.
Interesting what he had to say about crypto sensible ,start taking profits off the table ,which is what anybody sensible would do .Hell you can even put some into cnr if thats not deemed dirty money lol.
Reckon the next placing isnt too far away . Personally expecting around 15-20 m shares at around 35-40 p .
A cheeky 5460 top up to show my support for today's positive RNS. 1st buy 25th Nov 2010 - not long to wait now !!!
ATB
Great listen. Thanks. I enjoyed his moderate pretense to not be 100% sure on things but that the 100k gold scenario was about a year or so away and 150k more like 18 months. If correct that would be a perfect scenario for investors as we know the smaller production plan is quick and highly profitable and a lot less expensive than the 150k PEA scenario. Therefore a lot easier to fund and considerably less dilutive, maybe 30% at todays market cap so almost a non issue. Its so obvious that Condor need go get some cashflow asap, see its shares balloon 2-3x and then dilute a bit more if necessary at much higher value. Must keep dilution to an absolute minimum or MC will be not seeing his £1.50 bonus anytime soon so we are all aligned. We cant just rely on a rising gold price although everything is in place for some reasonsbly rampant inflation next 12-18 months especially if the government ever bring in full customs and border checks on goods from Europe that they continue to kick that can down the road. They know as soon as they do thats another massive supply issue and prices will jump and plenty of Europeans will simply stop shipping to UK. I have alreadt found its nigh on impossible to find UK furniture companies dhipping to Europe anymore. Its just too much paperwork and no money in it. Total mess. Dont listen to BOE telling you this inflation is transitory as they are desperately trying to lower inflationary expectations but we will have 5%+ inflation by next year and still <1% interest rates leading to real losses for saver but of course great for the government who is drowning in debt and funny how some uncontrolled inflation might bring that down. Anyway everything looking very good and once some nervousness about Nicaraguan politics out of the way, that i think is a little overblown i would like to see some dates being exceeded and hear some action before christmas.
Worth a listen from 22 minutes with a section about Condor: https://masterinvestor.us10.list-manage.com/track/click?u=597c650ff860407c54959f336&id=b7e2d58b73&e=dd26a726ec