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seingred - honestly im with you.. i know there are still too many questions than answers.. toll milling yes or no, are we talking 1000,2800,3500 tpd for 50k oz, 75koz or 120koz per year for initial plant sizing etc.. I want those questions answered too - I guess the big thing is , do we all trust MC to answer them in the best way possible for the good of shareholders, given that he and of course JM are among the largest.. Personally, I do trust him.. he will get the best deal he can at the time to move the company quickly towards cashflow and undoubtedly with the least dilutive option he can for existing share holders.. i think he could easily already have raised $100million here to build the plant and diluted everyone by 200 million shares in the process.. along with saddling the company with a huge debt and interest obligation that could have resulted in the asset being seized if there were any problems with initial cashflow form production to repay it.. so... patience, patience and more patience Im afraid! The announcements during the rest of this year should set the scene for the next 5-10 years of growth/progress with this company.. (or at least until its sold..)
When you accept that, all the outstanding questions become less important.. i think this is part of the game that all mining companies have to play, but once technical studies are complete, the plant is bought, financing has been done... at that point, its a countdown to first pour.. My best guess is Q1 2023 for gold pour.. barring any political issues / election snafu's
regards
T123
Tester , toll milling , possibly .
The begining of the presentation gives the 120 k oz scenario . Then further down we have the 1000 tpd scenario . Same old same old . Gold production in 24 months .I think I may revise my expectations now to 2024 for production .
presentation looks like drills completed gone from9 to 24 ...engineering gone from 64 to 70 per cent completed since last presentation ...coming along nicely
You mentioned Ross Beatty and the reduction in his holding. I am not saying US taxation is the reason but apparently it’s a nightmare. In another company Jim Mellon is involved with FFWD a large shareholder Lorne Abony had to transfer his 8.5% holding to his mother for estate tax reasons because their is a limited to what you can pass down apparently!
https://condorgold.com/sites/default/files/presentations/Condor%20PDAC%208-12%20March%202021.pdf
PDAC Presentation - toll milling still mentioned, i think if it was off the table it would have been taken out - but it still takes two to tango ;-)
regards,
T123
looks like toll mining back on the agenda...new presentation on condor page
i understand your thinking on cacoa but surely jim would of said.. hi ross i am putting 2million into condor so we can drill cacoa do you want to put 2million in as well at 42p
Sorry for duplication, don't know why or how that happened. Anyway my other wee niggle I forgot about was the likes of rb offloading, however feel that the change of tact to prove up cocoa as per Ross Beattys own geologists suggestion is a positive sign that they are trying to keep him on board.
Agreed, I like you from reading your posts would feel much more secure in the knowledge the last wee land issue is finally sorted, then it's all positives for me. Its still the one negative niggle I have regards to condor - don't doubt it won't happen but when! Proving up the resource to 5mill+ with the land sorted and a plant deposit placed would send this rocketing and all could happen this year. Throw in toll milling and that's belt and braces. Can't see 2021 going by with these key changes in place without a decent offer coming in.
Agreed, I like you from reading your posts would feel much more secure in the knowledge the last wee land issue is finally sorted, then it's all positives for me. Its still the one negative niggle I have regards to condor - don't doubt it won't happen but when! Proving up the resource to 5mill+ with the land sorted and a plant deposit placed would send this rocketing and all could happen this year. Throw in toll milling and that's belt and braces. Can't see 2021 going by with these key changes in place without a decent offer coming in.
the drift to placement continues gold drifting also..i think mark needs to get to nicaragua and stay there till this land situation is sorted out