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Would you want to be out of this stock for the next few months and try and buy in closer to shovels in the ground....share price then????
https://www.proactiveinvestors.co.uk/companies/news/926006/condor-gold-looks-to-finance-la-india-early-next-year-and-may-by-then-be-supported-by-cash-flow-from-toll-treated-ore-926006.html
Precisely what the economics of this operation would look like remain unclear at the moment, but what is known is that there is a plant nearby that was recently sold by B2Gold because the associated mine was running out of ore and a 2,200 tonnes per day ball mill is on idle. If Child could construct some sort of deal with Condor’s near-neighbour by the end of the year, then it could be that even while the financing is being put in place for the main La India project and construction is getting underway, cash could be coming in.
That would be a welcome sign for a market that has waited patiently through the permitting and economic modelling processes, and would represent a real statement of intent for the company in the years ahead.
Because as chief executive of Condor, Child isn’t just planning a quick and dirty operation here. Rather, La India has been given a complete environmental overhaul, it’s managing to avoid any resettlement, and because the district play could end up producing as much as five million ounces the company could be around for a long time.
With US$2,000 gold in Condor’s sails, there’ll certainly be plenty of incentive to keep the exploration programmes going after the production starts rolling in, although shareholders may well decide that in due course a nice chunky dividend ought to be forthcoming too.
In the meantime, the company is sitting pretty, following the injection of £7.6mln in new cash in June via a placement and the exercise of warrants, so there’s unlikely to be any dilution any time soon.
It’ll be an interesting few months, and Condor could look very different by the end of the year.
Cf , the story hasn't changed for ages . Lets at least have one definitive decision . First or second quarter next year so Inwill call that second quarter (1 year ) . No mention of land purchases .still 65 per cent ? What happened to starting year end . What is everybodys prediction for production date now ? Deffo not 2021 .
https://www.google.ae/amp/s/www.proactiveinvestors.co.uk/companies/amp/news/926006
Class395
I think we need the land purchase sorting before a decision will be made on mill size and finance.
I fully understand what you mean seingred about the wishy washy of our options. However, at least we have options. I'd rather have multiple scenario's to be able to pick the most economical/best for shareholders rather than only one option. I think this decision must surely be getting close to a final decision.
Mc has until recently used the 80-120 oz scenario in presentations etc .it is only the last year or so that the small mine scenario has appeared .probably since Nicaragua milling bought in . I suspect that was one of the things to irk Beaty . Why talk about 120 k oz scenario when gold is at 1200 and now be talking 40-50 when gold is through 2000 . This company needs some clarity on this and funding then perhaps our sp will hit a level that makes equity raise much less painful .
This wishy washy maybe this or maybe that scenario has gone on long enough imo it doesnt infer a clear strategy .
Correct me if i am wrong but didn’t the second hand mine offer have ability to ramp up to 4000 tpd quickly? my understanding we could get a $40m second hand mine built quickly as its already in the country that would get us up running, then with a combination of this and toll mining entirely fund the equity on the mine expansion when we can? to me this sounded minimum dilution but i might be wrong ln understanding. I felt the china option would cost 3x more, take longer to build and clearly mines take time to get up to speed so reaching 4000tpd is operationally a hard ask. Condor is ridiculously undervalued so really to minimise dilution we need to be north of £1 at least. Final option is doing a deal with Calibre and combine the whole lot into nugget printing machine as La Libertad has a mill idling and realistically quite a way from permitting new resource.
Yes of course we all want to see big production numbers as soon as possible, but we don't want to see big dilution do we. It's not a forgone conclusion by any means. A bigger mine will probably also take longer to build. Could there be a way to complete a starter plant and start production as soon as humanly possible, while finishing expanding the full-size plant in parallel?
Financing terms must be looking better than ever with gold North of $2000/oz and increasingly-widely forecast to go higher and our SP picked up a bit from low twenties which was the case really not so very long ago. If the market is in a good mood, it might even forgive a bit of extra dilution if it means going bigger, sooner.
Either way, I reckon I trust MC to make the right call. He's got us this far.
Yep I appreciate that pdp and of course none of us want to see huge dilution here..
But when you have been playing cards for the past ten years and losing and then you are suddenly dealt a Royal Flush.. thats the hand you bet everything on.. This is a once in a generation (40 years+) gold bull market that CNR have been working towards for the past 15 years.. its simply not the time to be cautious and play it safe..
regards,
T123
T123, fully agree with you.
However, I don't envy the board - going large is the best idea but they still need to make that decision and then what is the funding mix with the gold price moving as rapidly as it has done in the last few months...what percentage debt, gold financed and what percentage dilution.
Of course the option is to go to our billionaires and get it self financed - but I am not sure they would want to take the debt....they would want equity.
WG - I completely agree - the SP just needs the slightest hint of good news and it will be akin to lighting the blue touch paper and standing back..
In this market, if MC / CNR cant see that going for the bigger mine build from the get go is a no brainer then I might start to lose a bit of faith here tbh - he needs to announce the 4000tpd plant (expandable to 4500tpd to cope with 170koz pa for underground when permitted). Forget a 1000tpd, 50koz pa smaller operation first.. with gold forecasts at 3000-3500 per oz by the end of next year, thats when a 4000tpd plant would reap massive rewards.. go for gold at 120koz with all the permits now in place to do so..
This is the kind of market when its time to go out all guns blazing - 20,000m drill campaigns etc.. The days of hiding in your gold bear market bunker are officially over..
With the main stream media now finally cottoning onto the gold price increase and the reasons behind it.. gold fever is going to set in among retail investors very very soon.. would be nice to advertise CNR with some of the news we know is well overdue here..
regards,
T123
That was my initial thought too - winni a toxic tester historically
wonder why MC is doing the webinar with zak mir. he's big chums with winnifrith isn't he? winnifrith has been very anti and mighty unpleasant about cnr (and mc) in the past. really hoping mc has something new to say. the boom in gold is nowhere near being reflected in cnr value ... yet ... gla
Webinar next week with Share Talk
https://www.bigmarker.com/share-talk/Share-Talk-Presents-and-Investor-Webinar-and-Q-A-with-Condor-Gold-PLC