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Tester,I dont believe this is two years from 120 k oz production.I stated ages ago .I dont see a massive upside for the sp either.cnr has been running through circa £200 k per month over the last few years.it should be a lot heavier if the land sales ,permits and pfs etc are to be gained before production begins.I expect another fundraising by the end of 2020 v unless a toll deal arrives.I dont write off that possibility or possible jv with calibre.
Hum is in line to produce 130 oz this year and has a m cap less than £80 m ,not without their problems but shows even when you get to production there are no guarantees. Dividend payment seems to be the point where goldies start really appreciating.cnr are at least 6 years from that point and as you point out a lot can happen in that time.I have said it before and been lambasted,this wont be producing before next elections.
As regards the poster on advfn,some things do ring true to me although the poster may well be linked to monafmi etc. I was of the opinion that land negotiations started years ago.one of the main reasons stated for permit extension is that cnr were obviously behind schedule on land aquisition.It would not surprise me if there are problems with some sellers.probably sortable with some gvnt intimidation . Best to remember that the original protests that convinced mc eventually to drop re settlement were the same protestors that made it to the pc and also that news of the original protest wernt disclosed to us by cnr so best to have an open mind.
Personally I have reduced here but may buy some sub 20 p with a view to sell in mid to late twenties.the days of £1 plus are long gone imo.
Mr beaties holding in galantas has taken a severe beating recently proving that even the big boys dont always get it right.
Cnr need to prove a clear route to production before this will go anywhere .
So its likely another recession will hit just as we begin production then...grrrrr!
This share drives me mad, but after nearly 10 years i just cant convince myself to sell up and miss out on a monster.
MC Presentation says
120koz pa target
AISC = $700 or under
2 years till production
If gold was to remain at 1500, that would be $800 profit x 120k = $96M a year in 2-3 years to allow for mine ramp up. So yes the project is worth a lot of money to someone. I guess however that the unknowns at this points are:
1) Complete Purchase of surface rights - currently purchased 350 ha out of 1000ha required
2) Requires grant of America and Mestiza Permits
3) Capex spend of say $50-60M for 2nd hand plant or $100M for new.. where is that coming from?
4) Nicaragua as a country has to hold it together post next elections etc (other SA countries are becoming basket cases, e.g Chile, Bolivia, Venezuela etc)
After 10 years here I would say new investors have a 2 year punt to see how this pans out by getting in at a cheap price now while all these unknowns are still baked into the SP.. i think a construction decision will take place within 6 months, post completion of new PFS/BFS, hopefully along with capex financing confirmation.. I would like to see a royalty stream agreement from someone like Wheaton or RoyalGold to provide the cash to purchase plant.. thereby avoiding dilution.. If anyone can make it happen, its MC with JM/RB as backers..
Just some thoughts from me.. as ever DYOR etc
regards
T123
SS deliberately missing big picture which is, as presentation demonstrates, an increasingly solid proposition which will be hugely profitable to someone. Work continues to de-risk, move elements in cnr control forward, with eye also on demonstrating 5m oz district.
We'd all like it to happen faster, but work being done all looks reasonable and sensible to me.
What's a tonge?
One was reporting period end, one was 2 days ago, latter stated as 'about $4m cash in the bank today'.
No miscounting. Using your figure, Condor had 4.6mUSD on 30 September, six weeks later the company had 4mUSD. The 4mUSD quoted by Mark is not an exact figure, it may be 4.2mUSD.
Get yr tonge out of mc tea towel holder ffs
3.6 m pounds equals 4.6 m dollars
So what ever way you look at it he’s miscounted by over half a million follow and the one month cash burn