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Totally agree could be little more jazzed up though I.e. my sparking gold bar chart idea.
However no way we will see one at present as MC and JM are clearly acitively pushing very hard to sell. If we do start to see such a graph then its my opinion the game has changed and plan B is on the cards and they are in for the long haul.
Either way money to be made but FFS and hurry up adding it while the POG is still favourable for extra £note profits.
BigDog,
I came across this slide on another gold explorer companies website I was researching and I thought of you :-D haha - I was just thinking that this is EXACTLY what MC needs to produce for Condor.. I mean how hard would it be to produce this?
https://marathon-gold.com/site/uploads/2020/06/marathon-gold-timeline-june-2020-v4.jpg
regards,
T123
PS Nice to see the SP holding up well here despite the fall in gold.. lets see what Monday brings with the issue of the new shares at 42p.. will we see a short term drop down to the placing price? I do hope so.. as I will be backing up the truck.. :-)
That should probably read "stop the mine build from being completed and starting operations" - what I would give for an edit button!
Tester the answer to your question is straightforward but is another question, i.e. does not having 100% of the land stop the mine from being built? If the answer is yes then I doubt anyone would provide funding for the mine build to go ahead due to the risk that the remaining land cannot be acquired for whatever reason, even if the changes are high that the remaining land *can* be acquired. I just don't see anyone handing over the cash wothout guarantees in place, but that's really just me using logic as opposed to actual knowledge/experience.
I know a lot has been made of the remaining 5% land purchases, but I think we need to apply some basic reasoning here..
The company already own 100% of the land where the plant will be situated. So they could go ahead and buy a plant and start construction (they have already commenced the ground clearance and site preparation as we have seen).
So while, of course, they WILL need 100% of the land in the longer term, I don't think they actually need it RIGHT NOW. I expect that if that situation was to change, for example, if Calibre signed a 40koz pa toll deal tomorrow, in which case CNR then really needed the land to be bought "tout suite", they would go ahead and pay the asking price - simple economics, pay $1M to make $10M a year profit. But until that happens (when/if) why pay through the nose? And they wont give away land on Mestiza, as thats a prime target for ore for either toll milling or initial production.. I think MC has said there is around $200M from 35m depths, i.e a shallow, cheap to extract, permitted open pit.
The processing plant will take at least 12 months to construct from the point it arrives in the country, and there may be a lead time on that to get through import bureaucracy (2nd hand plant from Guatemala less so, I think a new plant from China has a much longer lead time).
So lets say a toll deal doesn't materialise from Calibre or Mako, then the company probably doesn't actually NEED to own 100% of the land for another 12 months or so. Plenty of time to conduct negotiations, get a better price, clear up land titles, reduce fraudulent claims etc. (Plus maybe find replacement land for the artisanal miners to work - again not absolutely necessary unless a toll deal is struck, or until its needed for extracting ore - the miners can continue to work there until thats the case).
MC has said he is running the company as if they own 100% of the land, and I believe him. They are pushing on with getting the project shovel ready for construction. And of course, they now have the money to drill Cacao to add to their resources,, hopefully past 3Moz this year and on towards 5Moz..
I think our only remaining question therefore is, can the company borrow the money to go ahead and buy / construct the plant without 100% of all the project land (i.e including all the open pit areas at La India, Mestiza and America) being fully owned? Or is that a blocker?
regards,
T123
Looks like support found as can’t see selling below 47p and now buys at 47.4p
Mean while, back in the real world.. I found this interesting commentary on the SP from back in August 2020.. I dont remember it being highlighted at the time..
https://ukinvestormagazine.co.uk/wp-content/uploads/2020/08/Junior-Gold-Miners.pdf
CONDOR GOLD (CNR)
Condor Gold PLC is a gold exploration company. The Company operates projects in Nicaragua and El
Salvador. The Company's interests include approximately 10 concessions in the La India Mining District in
Nicaragua, and over four licenses in approximately two project areas in El Salvador.
Fundamentals
Condor recently updated the market stating they have made ‘significant progress’ in meeting the terms of
its environment permit for development and exploration in Nicaragua. Condor has 1.12 million ounces of
gold open pit mineral resources permitted for extraction, inclusive of a mineral reserve of 6.9 million
tonnes at three grams of gold per tonne for 675,000 ounces of gold. With Gold prices around $2000 there
will be appetite to continue exploration even when production begins. The fresh round of funding in June
means the company is well positioned in the near term.
Market Capitalisation: £60.42 million
Sector: Mining
12 Month Price Range: 18.50 – 61p
Technical Analysis
Shares in Condor Gold soared at the end of May 2020, far outstripping the gains seen the physical price of
gold. The pullback was quite aggressive and would have forced out some nervy investors. Those that are in
for the long haul have seen since a recovery back towards those 52-week highs around 62p. Overall, the
trend remains bullish and the gains continue to outperform the physical price. Expect dips to be bought
and for a continuation of the trend over the medium term.
Verdict: BUY
Buy between 42 – 50p
Stop: 33p
Target: 100p
NS - yeah. me too. (actually I put loadsamunny into another company last week which has absolutely rocketed since I invested.) great being clever and rich isn't it ... not like all these other losers ... you and me should stick together ...
It must be great being you ‘NoelShempsky’, I wish I was as clever as you, coz I’m still stuck here on a loss!
Guess who was right about the direction for the sp. When I can find time, I'll analyse the chart so that I can tell what the long term trend is.
I sold a load last Monday and the other company that I bought into has gone up. Being nimble makes money. While you sit and wait you are missing out on opportunities ISAPENSION.
Hi CCC
I have said I am bullish and fully loaded. If you look through my posts over last few months I keep mentioning trading ranges (without news)
It seems to be a rinse repeat where we get down to about 45p and rise to 53p ish. It’s roughly a 20% range and it has happened repeatedly!
I see this as a positive as it proves we have a clear bottom where value is seen.
Unfortunately POG does influence us hence me saying it could drop. Being honest CCC I am not too bothered in short term drops as repeatedly it goes up and if it does drop under 45p again I will buy (win win)
I am really confident in our resource and on news it will fly and I certainly don’t want to take the risk of being out of it!
Hope the above explains CC, if you look at my posts I have been very consistent.
Ps unfortunately I was semi right as MMS will now only buy at 46.2, however as a positive the buy price is still holding above 47.4
ISA.
You do seem to have a trend of saying the share price ( in your opinion ) can go lower, often with price targets.
I am not sure of the message your sending or reasoning.
Think today may be tough Real, as always we need to be confident in the bigger picture and value we have.
Honestly can’t see much downside (and not below 40p) however upside is huge!
Think we may touch 45p today but hope not!
Stay safe and keep the faith ??
Lets hope the demand for buys at present are still going strong whenever it's the sells stops this will give the price a boost.
Evening Real
Haven’t bought anymore since I bought last week at 44.5 on the day of placing!
Certainly interesting times with buys soaking up sells (or is it vice versa)
If the trading range stays true we could touch 44p then rise up again, however you could sell at 47.16 late this aft with buying at 47.80 so MM’s still happy to take our shares above 47p
Shame POG dropped but hey ho it could give another buying opportunity!
All the best to all Condorians!
ISA is that you on another buying spree??
Book5 has some good local info about groundwork over on ADVFN
so what about the 131k shares bought defo someone buying and someone selling share price holding firm gla
42K worth dumped
25-Feb-21 12:33:43 47.125 89,177 Sell* 47.00 48.00 42.02k
perhaps they can see the direction for the sp
volume quiet today..
I understand the frustration of the delays here as well as anyone. Delays with permitting the resource, buying the land etc. Here are my thoughts for this year..
1) Buy the remaining land - this remains a priority. Its understandable that the locals (and some non-locals) want as much money as possible. The working miners in the co-operative still need to earn money by producing gold to sell (although I would argue that the company ultimately want to stop the rastras from polluting the environment locally and process their ore at the main plant instead).
2) Owning the remaining land could then allow them to extract the ore for toll milling to La Libertad with Calibre or to San Albino with Mako. In my opinion, they want to execute their plans on this first to begin cashflow, prior to raising any finance for the plant build (doing so at a higher SP price will reduce equity dilution). Perhaps Calibre dont necessarily want this to happen as it would increase the Condor share price, should they ever want to buy La India.
3) Buying a plant and getting it into the country is a priority this year. They will also need to announce an EPCM contract award to build it - likely to be Lycopodium.
4) In parallel, the company will do 10,000m of drilling this year to add resources from Cacao and possibly other sites. Good assay grade results should help to generate interest in the project and at least maintain the SP while the other big ticket items happen.
5) In 18 months (12 months from plant financing), the company could begin producing 80-120koz of gold from the three open pits of La India, Mestiza and America. These will be super low cost as they are all very shallow. Probably $600-$700 an ounce AISC max.
6) For a possible valuation of the company at that point, see the latest Calibre results here: https://www.calibremining.com/news/calibre-exceeds-high-end-of-2020-production-guidan-2153/
Calibre produced 136,000oz last year at $1000AISC. Their market cap is £324M. But it went as high as £550M when gold was at $2100. With 150M shares in issue, CNR would be worth £2.50-4.00..
7) I think that any equity raise for financing will happen on the Canadian market and shares will be placed on the TSX to generate liquidity there. Why is this so important? As alluded to in the interview yesterday, London does not understand or appreciate mining shares, particularly junior explorers. Canadian investors are also more comfortable with South America as a jurisdiction.
8) Underground at La India and potentially other satellite open pits at Cacao will be added to the mine plan (much quicker/easier to permit as they are just satellite pits to feed an existing plant). This could increase the mill output to 200koz+.
To balance the comments above, yes there are still risks from the political situation in Nicaragua.. but plenty of gold mines operate in much worse jurisdictions that are prone to civil conflicts - think Africa as an example.
regard
Just to balance the view a little EL, I can understand frustrations with the performance of a company but it's how you deal with those frustrations. Every share I'm currently in ( other than GGP ) has a level of frustration, but I'm confident that each and every one of them will come good to different degrees. I'm a little frustrated with my current covid testers as news is well overdue and more importantly the funds will be coming directly in here, certainly if we are still under 50p. I have an oil company that struck with loads of oil 7 years ago and still can't get it out! You will always find in genuine investors this frustration as they feel their shares are worth much more. Impatience often leads to a sell out at the wrong time, which is what some non-genuine posters you will find on some boards, want you to do.
We will breach 60-70p by the Summer I'm in no doubt, but feel that uncertainty will follow if movement is not achieved here by late Spring. MC is I'm sure doing his utmost to get things moving and there will have been obstacles we don't know about. One thing for sure, I'm aware that he still has his 'magic hat' and we will see evidence of this soon enough. atb!
I am of the opinion we don't have a balanced view on this board any more. Too many frustrated LTHs TBF. I've lost count of the number of posts telling us to be "realistic", to "keep our feet on the ground" and those who are merely "telling it like it is". Quite a few suggesting we'd be better with another CEO (be careful what you wish for IMHO), and quite a large number of plain and simple whinging, but without providing any constructive suggestions, much less ever engaging with the company to communicate those concerns, properly and respectfully.
Buy, hold, sell, trade, I care not, but all this complaining gets on my nerves. If you don't like it, sell. If you find an investment you prefer, go. No-one's stopping you. If you stay, be honest with yourself why - either you have a psychological attachment preventing you from letting go (it happens, I'm not judging, but it's not helpful to successful investing) or you understand that despite the conerns you may have, you never-the-less must logically believe that there is the potential for making decent money here, one way or another.
There are likely to be few companies that are significantly under-valued without there being some reason for them being so. If you want a company with no problems and no risks, you are also very likely to find it is valued pretty highly, with little opportunity for further increases.
The stock is illiquid, we know that. A handful of trades in either direction have an outsize impact on the SP. To acquire millions of shares as a new buyer on the open market is all but impossible without sending the SP into orbit. So the only way any large new invester can get a decent chunk is through a placing. That's how RB got in, how Nic Milling got in and how JM continues to build his already large holding. But we know MC doesn't like dilution any more than we do, so there are limited opportunities to participate in placings, and the last one was swallowed up by JM and other, unnamed I believe, existing large shareholders.
There is no current evidence that any large shareholders are selling right now. I find large round-number trades reported after market close are often the best way to identify such action, and I haven't seen any recently. RB may, or may not reduce further, but we don't know that, nor do we know his reasons for selling in the first place, though it seems reasonable to suppose that it's linked with other actions he has taken recently that seem oriented towards his retirement. ie. not Condor-specific.
Spot on RR. We need a balanced look at this. No point in lording JM whilst ignoring big sellers on posts. As has been said before, we need to set milestones and hit targets to get noticed IMO.