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E l, yes many miners have such presentations . These are standard practice softening up tactics in order for mr nero, lion and red to extract as much as possible from their village . When the gold becomes uneconomic the jobs will be gone and it is debateable how their village will be returned . The presentation states that gold is the top export ,but mining actually employs a very small part of the population of Nicaragua . Obviously this is better than the practices of the huge ammount of criminal illegal mine operations around the world but the gold business is still a very destructive business just so people can lock up most of it in vaults . How is this so morally superior to crypto and blockchain ?
As I previously pointed out our largest shareholder ,vulture capitalist isnt here for nothing . Mr martin we have had an insight into his past and our latest investor is facing demands from the socialist mexican gvnt for tax evasion .
The world is screwed E L unfortunately and investing in cnr or any other miner definitely isnt turning that tide . I am in park mode now too .
Nero , you are an extremely condescending poster . I dont imagine you mean these residents .
Ceo states cnr price was hit by Nicaraguan unrest nero says no mr red and our ceo were uninformed . Mr nero says the reason is gold bear market .well early April 2018 I sold cnr shares in mid 50s ,the gold price is somewhat higher now and been to record levels and I can sell my cnr shares for 47 p .
Seingred. Look at slides 24 and 25 of http://www.condorgold.com/sites/default/files/presentations/Condor%20World%20Gold%20Forum%2013-15%20April%202021.pdf
Every gold miner on the planet now will have similar slides on their presentations.
Times change, slowly, but they change. They need to. The entire human race is screwed if we collectively continue to chase profit no matter the cost. That's all I'll say on the matter.
Is Bob upsetting more locals I ask myself
Seingred, perhaps you can take your uninformed opinions on gold and gold mining to the community of La India. Though I expect they'll give you about as much interest as the people on this board. Do us all a favour.
We all want to try and make profit with our investments, whether be it in Gold, Oil, Crypto, etc etc, however keep this BB on topic, i have no interest in Coin, the debate should be on a coin site where it belongs.
Seingred I hate to correct you but the age of Capitalism is now long gone, we are now a good way down the road into the age of Creditism.
I have no shame in investing in shares, cryptos, bricks and mortar or gold coins etc. with the view to doing so to realise a profit. I also am not shamed to admit I wouldn't do so if I thought I wouldn't make a profit!!
It is rather odd to hear such sanctimonious views from investors of gold mining shares . Known the world over for poisoning land , water sources ,driving slave labour just so people can can polish it or store it in a vault to use as store for the rich .
Do we assume that if a gold bubble appears and cnr rockets that you will become disillusioned and sell up before you get too rich .
Bubbles are a facet of capitalism . Everything goes in cycles. If you have a problem with capitalism I get that but trying to write off crypto and play moral high ground and holding shares in miners is pushing it .
"as always best to have a spread of assets but ten years of diminishing returns here, seriously how can peeps trash huge profits in crypto ? It is just nonsensicle"
For the same reasons people write books about speculative bubbles, and other extraordinary popular delusions and the madness of crowds. Because they end up destroying a whole bunch of people's lives, not to mention the financial damage done and impact on society. Those who do not learn the lessons of history are doomed to repeat them.
Crypto... there's more to the debate than just profit. If that's all you care about then fine, but there are real concerns about the whole concept. Just ask Charlie Munger.
Real, eth is where I have most and it is reeling in bitcoin now . tester posted march last year about bitcoin crashing to around $4 k . eth was $200 . I posted it was a buying op . Crypto is still at the start . There will definitely be large corrections ,all of which will give further opportunities imv but bitcoin will dwarf the gold market in years to come .
as always best to have a spread of assets but ten years of diminishing returns here, seriously how can peeps trash huge profits in crypto ? It is just nonsensicle .
El , £1-1.50 has been my prediction for short /medium term . Lets see how it pans out . I am more than happy to be overly cautious and pleasantly surprised than perrenially under estimate timescales and disapointed with the sp .
Tester, I made a similar post a few years ago when the gold price broke out and I think it holds true now also. I have less funds available than many here so in order to buy, often I have to switch rather than sink ever more cash ,so I tend to switch some out to invest elsewhere which has worked very well these past few years and buy back out of profits .
I recently re bought aaz ,and added at cey and shg . Looking to add a few more . I dont hold pur but considering it after their large drop .
Good luck guys .
EL - as everyone knows I already have a large holding here, so Im not saying that Condor is not a good medium/long term prospect, far from it. All I am saying is that with timescales till first production being continually pushed out, other than the potential for a cheeky bid coming in, i think the upside is limited here for a while. Also, the elections in November represent a risk that I cant ignore. Toll milling seems to be stalling as well, and even if a deal could be done with Mako, its likely to mean less free cashflow than a bigger deal with Calibre.
But I still believe that inflation in other commodities will transfer to gold in the 2nd half of this year, and when it gets started, we could see a return to 70's style inflation before interest rates rise to try to curb it (see Janet Yellens announcement yesterday about just that in USA) - so in the meantime, for any further funds I wish to invest, I will be concentrating on gold producers like POLY, CEY, AAZ and possibly silver producers like FRES as well - along with near term producers on AIM like PUR. I also like RIO and BHP etc for exposure to base metals..
Doesnt mean I dont think CNR will be a great success story, but I think its going to take a while (18 months - 2 years) to come to fruition.. Of course, I could be wrong and the market takes off with CNR as it produces excellent Cacao results etc, but after 10 years of waiting for that, I have to try to diversify a bit more.. And if it does take off, I will still have my stock here to take advantage, so its fine! If I didnt already have so much invested here, would I be initially buying at these levels, even with the risks / further dilution on the horizon? Yes, probably!
I agree long term who knows what will happen with Crypto, I genuinely hope it doesn't steal away from the precious metals market.
However there is still plenty time to get on the gravy train with Ethereum still seen as significantly undervalued! Talk of 10k - 20k value this year, sounds ridiculous right? But crypto appeal and global growth is still growing a crazy pace with no sign of slowing down just yet. I've taken out 100% profit form investing end of Jan when others were saying bubble about to burst.
As Seingred rightly says, PUR were upwards of 170p a share in December 2020. If you take that fact, and combine it with your view tester that they're worth buying now, then the read-across for CNR is rather more positive than either of you are making out.
Any asset other than crypto that went from $200 to $3500 in a year, you'd be thinking, humm, maybe this is a bubble, might be a good idea to cash in some of my gainz. Maybe crypto is different, time will tell.
Tester , another reasonable comparison although should be noted pur sp has taken a pumelling the last few months . Again cnr will have at least 200 m shares when we get to production. Deduct some for Canada being a much better jurisdiction and we are back to £1-1.50 I reckon for cnr .
I would imagine pur moving much faster than cnr over the next couple of years when they sort out any production issues so concur with your theory .
Cnr is one for 3 or 4 years time as long as there are no problems and the gold price hasnt reversed Vacuous crypto for me. Eth closing in on $3500 from $200 a year ago .
Just noticed that Pure gold was mentioned over the weekend, I have been looking at them recently as a near term producer who should get over the initial production setbacks... To recap, their phase 1 plan is as follows:
•Throughput: 800 tpd
• 12 year mine life
• 80 koz avg. annual production
• Peak at 125 koz/yr (13.7 g/t Au) while mining 8-Zone
•Costs projected are $787 per ounce.
•Current market cap is $500MCAD or around £300M.
In comparison, CNR phase 1 (in 2.5 years) will be:
•Throughput 2300 tpd
•100k oz pa Year 1
•Increasing to 120koz pa with upgraded SAG motor
• MCAP ???
Mind you Canada vs Nicaragua as a jurisdiction to operate in is a major consideration! I think PUR are accurately priced by the market at the moment and I dont see a lot of downsides from here on assuming they execute their plan now.. 70p buy in looks good there for me and possibly a better place for funds to grow over the next two years than here while CNR waits for production to happen..
E l , Cnr stated aim is to use high grade ore at the begining for faster payback which absolutely makes sense . However the start up year I don't believe will be below $700 because they will for sure be starting up slow and encounter teething problems along the way .
There is a clear difference in the way they present their projected aisc by year and Cnr . you are guessing at the make up of the spread of Cnr aisc because Cnr have no breakdown. Bit reminiscent of the fact that after spend millions on studies ,mc cannot tell an interviewer the projected price of a vital piece of equipement .not sure if it was priced individually .jeez come on.
Cf, like calibre ,this is a new outfit which have an agressive drilling campaign so you would expect resources to be raised considerably . Halfway through 35 k drilling . Costs for Colombia appear to be $110 m and they have drawn down the first tranche . IT is estimated as a 7 m oz project .
They are also looking at more aquisitions . This was not my example for comparison and as always it is never perfect however I think in the market Cnr have it all to prove ,especially with their long winded route to production whereas this is an outfit that has more kudos in the all important Canadian market . The proof of the pudding will obviously be the sp .you are realistic with expectations of short /medium term which is sensible imv .40-100 p is not a bad return as far as I am concerned . I have had a very good run with other punts over the last couple of years but I am not expecting to go backwards here so am happy to keep some in here and run for the longer term whether for a takeout or possible production. I cannot pretend to be able to predict the possible gold price in three or four years and do not believe anybody else can . Could go ballistic , could halve, so have to assess as we go but I wouldnt want to have most of my eggs in this basket
No amount of experience will conjure gold from a rock if it isn't there to begin with. Condor has high-grades, near surface. To quote from the recent RNS:
· 22.05 m (21.6 m true width) at 6.48 g/t gold from 24.75 m drill depth including 15.35 m (15.0 m true width) at 8.68 g/t gold from 24.75 m drilled depth (drill hole LIDC413).
· 16.00 m (15.7 m true width) at 5.30 g/t gold from 18.35 m drill depth, including 5.90 m (5.8 m true width) at 12.35 g/t gold from 22.10 m drilled depth (drill hole LIDC416).
I'd wager that'll get you better than $690/oz to begin with. Grade will reduce and costs will rise for the bulk of the open pit, but I'd guess that the AISC for CNR will start off low and then rise (assuming more high-grade ares are not located, which seems unlikely).
We are different to pur though. We have very good high grade near surface, within 35m. Not looked at pure for a while but believe their initial grade hasn't been as good and other issues (which any new producer could have). Once we drilled on mestiza, our grade will be even better. That along with the northern and southern mini starter pits will be going through the mill first.
I would be glad to be somewhere between £1-£1.30 at start of production.
E l , the market value is the only thing that counts . Some of us were youngish when we invested .However as you get older to some of us the bird in the hand is definitely worth two in the bush .
The fact is ,it is not that I don't believe in the share but I don't believe many posters have been realistic in the past and most likely the near future .
As I say I am happy to look to £1 as a feasable share price .to me that is not negative . If you want to believe that is too low that's your perogative and feel free to point out my folly in the future ,however presently the sp is 47 p and was higher during the bear market .
Re presentation . Firstly lom aisc stated $880 . Have you ever seen a breakdown of year to year production costs for cnr .most likely lom figures . Do you think that somehow Cnr have a magic wand that will somehow produce at $690 aisc from day one but experienced mine developers cannot ? Do you think that Cnr will not have similar ramp up issues like at pur?
The conversation becomes boring. I haven't looked into this other company in detail, nor am I inclined to merely to counter every single piece of misery you put forth on this board. Suprised you spend so much time here TBH. I'm more inclined to post on the boards where I have investments I believe in, but each to their own.
Do actually look at that slide though, with an open mind, not one merely trying to find the negatives for Condor. Year 1 - 50k oz, circa $1200/oz AISC. Year 2 - 55k oz or so, $1050/oz or so. The graph isn't meant for reading precise numbers off of, so my numbers are rough as well, but you get the idea. Year 3 - 75k oz, but AISC jumping to nearly $1400/oz. You get my drift? It takes a while before the lower (still higher than Condor) AISC numbers kick in.
Regarding Condor's valuation, I have set out my logic on the board several times. Feel free to dispte my numbers or logic if you like. As far as the elapsed time goes, everyone has their own take on that, but not everyone is as obsessed with time as you are. Some of us are still young! lol
E lion, yes you are correct the majority take the glass half full aproach . I have leaned the other way for a number of years . I stated at the end of 2018 that the timelines were slow and that we wouldn't be producing gold by the elections. I wasn't bearish enough as we won't be near starting construction. I also drew attention to the slow progress on land purchases. As for the glass three quarters full view , not really the best way to assess an investment imv .
Their presentation particularly board members is pretty impressive and obviously a company that will attract the Canadian gold investors .
$880 aisc ,not that bad . Perhaps you can explain how this example shows a huge potential for our sp ?
Cf , they will have more debt but also larger production figures . No comparison will be perfect for this purpose but This example doesn't infer to me that a sp over £1 is likely any time soon .more than happy to be wrong but at the same I am reasonably happy with £1 from 40p .
does he take into account strip ratio ....mine grade...very important perrameters
Obviously the majority of those currently invested may be inclined to take a glass half-full view when it comes to our prospects here. That being said, Seingred, I think you're starting to lean too far the other way. You consistently ignore the bottom line - it's not oz's per year that count. It's profit.
I won't argue every point, but take a look at the AISC predictions throughout the life of the Columbia mine on page 7 of Aris' corporate presentation here: https://s27.q4cdn.com/150190369/files/doc_presentation/2021/Aris-Gold-corporate-presentation-19-April-2021.pdf
You make some valid points seingred.
However, they have jused raised $300m usd. We need a third of that. They will therefore have more debt. They are valued at that prior to production. Although in Canada, their project there looks small with only 700,000oz and very low grade at around 1g/t. How economical will that be?
Agree, it would be best to be bought out.
When you look at other companies that are at our stage, so many have their financing in place and secured. Are we stalling for someone to buy us out once we have completed all the studies and bought the land? Or have we still got time as all our studies are not completed yet and we haven't concrete numbers?