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I believe that in an interview Mark said that they have secured the land for the plant, Mestiza and America pits.
Honestly not sure what your concern is O&W. The plant can be bought and constructed, so there'll be upwards of another 12 months before any of the rest of the land is actually required for starters. Time for more negotiations and if necessary to get legal processes rolling. The first ore to be processed may not even come from the La India open pit. MC will look to high-grade early production as much as possible, and that means feeder pit production may kick things off.
Right, so it's gone from 30% to 50% to 75% now. Moving in the right direction, at any rate. But I don't get get how progress can be made without having full authority to go ahead with an open pit preparation, even if the plant is bought and installed on site. So 98% secured might not be enough.
The key then lies with this "legal avenue" that Book5 is referring to. What we need is Harvey Spectre on our side to sort this out.
munch, you made yourself look rather silly the last time you were posting here with your exuberant and completely wrong predictions. Maybe think twice before doing so again?
O&W, there's a difference between "securing" and "purchasing". I think the root of your confusion lies there.
IIRC MC has said in recent interviews that around 75% of the land has been bought. Not in a presentation or RNS I grant you, but there are rules and regulation which mean he'd get into serious trouble if he started saying things like that which were not true.
He also says that all the land for the plant hus been bought. So what remains is presumably within the open pit, and picking up those last bits and bobs is unlikly to delay the project from moving forward.
book5 on ADVFN has suggested that could be a fair bit higher due to recent purchases. He apparently has local contacts. He has also highlighted legal avenues by which the company could force the sale of any hold-outs.
RSI has gone from an overbought 80 to a more neutral 56 - it is getting back into the buy category.
SP Angel re-iterated on the recent podcast the shares are cheap and their target of £1.02p was heavily discounted.
A run from 35p to 60 in quick time will always attract profit taking, however value at current levels is apparent.
Land owners getting older and any financial benefit to them will become less meaningful, certainly as this has been going on for over 10 years. Discoveries, permits and financing all bring deals closer and people's minds become more focussed when just the last pieces of the jigsaw need fitting...... all imho this will be done soon.
Ok, so Book5 got it wrong. 50% purchased, not 30% . Still leaves half to be bought, presumably from more recalcitrant owners.
Seingred.
It really boggles my mind how MC has been going around doing the presentation after presentation showing the supposedly vast potential of La India when he’s only purchased 50% of the land.
It’s like trying to buy your next door neighbours house but put in planning permission to build 10 houses in his garden because it’s that big. U can argue he needs to know what’s in the ground .... well yes but not maje too much noise about it.
After all the sp has done nothing much and I just get that feeling here that land purchases could possibly get delayed and hopefully not then the market will most certainly correct before Cnr purchase the land before year end. Either way it’s going to be bumpy here and the dizzy heights of 62p reached last week can be forgotten for now as 32p will more likely come in to play at support.
Ps. Those land owners are 100% getting legal advice and I think many of them have options in place to track the gold price higher so they get more fir their land. After all MC can’t argue with them. He’s told them he much gold is there but needs the land to get to it. HUGE mistake and as proven very costly to condor.
Rns march 2020
The key objective for 2020 is to start the site preparation before year end. This will involve completing the purchase of all surface rights within the mine site infrastructure (approximately 50% has been purchased to date) and completing the technical studies required by MARENA ahead of a construction decision. Offers have been made for all the surface rights. Production from the permitted La India open pit is expected to be approximately 600,000 oz gold.
Older,you have misunderstood his post ,which is not too hard .I would have thought they were paid out first though .could be a case of a bit if info being dangerous tbh .
Condor has been working on a land acquisition programme for over 4 years and plans to acquire approximately 600 hectares of rural land for the production scenario in the PFS. ProNicaragua is assisting with a clean up of land titles. During 2017, the Company purchased 150 hectares of rural land. Two independent valuations have been conducted and a strategy is being implemented to secure the rural land by paying 10% of the purchase price of land to landowners, who grant Condor an option to purchase the rural land for a two-year period. Offers to purchase the land have been made to all landowners; at the time of writing 30% have accepted.
Older I think this is probably what he is refering to .This is from rns in march 2018 .
I suspect that if a few landowners are against they will encounter some serious persuasion . But yes careful on the predictions for me .personally I will be pleasantly surprised if we are producing next year . cnr is funded now for a while and hopefully we can have an update of where we are and heading soon.
I don't know what the requirement is for mobile equipment but nobody seems to be mentioning it so maybe easy to source.
First pour in 14 months.
I'm from the cement industry and the Indians erect full grinding systems from scratch in 10 months.
...and the company seems to be swimming in experience and connections to do exactly what is required.
Yes if the processing plant land has been purchased - which as CF notes, we already know to be true - then what's required is 1) Suitable, allowed access for the trucks bringing the equipment and 2) the civil engineering work (office, and then construction) - and for that you don't need the equipment on site. But you do need to know exactly what it is you are buying.
Given the somewhat unexpected jump on putting down a deposit on a mill I'm fully in the camp that things are being accelerated for all the right reasons. There is no way anyone would be unnecessarily delaying at this point. I'm fully thinking commencement civil construction Q4.
Dyor olderandwiser. Mark has stated they have all the land for where the processing plant is going to be positioned. Let's not start twisting words.
Not true. I believe we already have the land in the open pits so can start with them, for toll refining if there's an interested partner. MC has had several people working on land purchase over an extended period and regularly reports positive progress. And of you want to believe things written on other bb's by people with local contacts, look at what Connect1 shared on here a couple of days ago, indicating good progress, support from Nic govt to complete the process and legal levers available if required (presumably as a last resort).
The post you refer says CNR only PAID 30% of the land they secured a few years ago, it continues by saying CNR are now paying the balance.
At no time does the post suggest CNR only SECURED 30% of the land they require.
Still got to secure all the land parcels before any sod of earth can be dug out. A poster on the other BB with local contacts reckons that cnr has only secured 30% of its retired land purchases so far. Production may be further away than you seem to think.
Check this out:
http://demonocracy.info/infographics/usa/us_stimulus_package_10_trillion_2020/us_stimulus_package_10_trillion.html
ddd
Even better (as hoped) - our entire current MCap in revenue per year in profit.
No, I believe the target would still be for at least 50koz pa at 1000tpd with fully diluted head grade of 4.65g/t blended from all mini open pits..
regards
T123
Is that 1000tpd = 35k oz p/a roughly taking the lower band (comparing the 2800 with 100k p/a on slide 3)
So $35m p/a roughly base-case
Sure, np.
Personally, I am interested in whats going on with gold "prices" right now - in particular dealings on the Comex. For every mining share to truly rerate to fair value, we need an end to manipulation of paper gold prices on the LBMA and COMEX which takes down the price of physical metals.
We can talk all we want here about mine production schedules and plant construction timescales but I want to see a realistic valuation and real price discovery of a physical ounce of gold as a true store of value in a world of fiat currency thats being expanded and devalued to infinity.. I just dont want to see the fictitious value of paper gold ounces anymore. I dont think that Russia or China want to see it anymore either.. but not before they have removed as much physical metal from those places as possible..
When that happens, every gold producer or explorer with proven economic gold reserves will get a once in a lifetime move up...
SP Angels broker valuation would still value CNR at 100p a share at $1700 gold, even with the recent share dilution.. and thats at a discount level of 40% to the NPV.. so real value at production should be £2.50 at least.. with actual price discovery on the comex, that figure would look very low..
regards,
T123
Robbo - latest presentation
http://www.condorgold.com/sites/default/files/presentations/Condor%20Gold%20Presentation%20121%20Mining%20Conference%2019-21%20May%202020%20v2%20%20-%20%20Read-Only.pdf
Page 14
* Commercial production of 1,000tpd to 1,500tpd could be achieved in 2021
We are guessing that would mean Q4 2021... for a 12 month build time..
regards
T123