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TSX placing maybe cost to CNR was the reason, double the admin costs and there was no way he could have raised that amount on TSX alone.
Added 5,000 more today as I had enough float in the account.
Hi Tester, Mark did allude to perhaps placing shares on the TSX as we move into the construction phase. I still feel we missed a trick on the last placing when we could have placed then. He has his reasons and I'm happy to except that. He mentioned having a presence on the TSX is enough for the time being.
AF - I actually think that the best chance MC has of increasing the SP this year is by releasing excellent drill results to coincide with the rising gold price.. We may see some of your RNS's come true right enough but the average PI obviously doesnt understand the significance of them anyway. I dont expect to hear of mine finance / capital raising by the end of the year though? MC has just said Q1/Q2 next year for that?
Ive come to realise that retail investors here are not looking at the big picture - they are not looking 12,18 months in advance. Canada/North America is different as they look longer term for their 401ks etc.. thats why I would like to see increased liquidity on TSX. Retail investors on AIM just like to see high grades - see GGP etc. And they are looking for short term SP increases to make £50 here and there.
regards
T123
BKY - It's a punt on one final and THE most important permit. Sorry fo O/T.
Looked Andrew, a good rise this year already....Urananium! Does look interesting but a tough one to evaluate...might have a punt!
Good shot at predicting RNSs AF...... guesses at the sp more difficult as we will be effected by gold price and general market sentiment coming which imo will be negative. Against this our undervaluation continues to baffle.
Nothing is certain in this life, but an Interims RNS is due this week and I cannot for the life of me imagine we will not be updated on land acquisitions :-)
May as well be ambitious :-)
thanks AFf. that is a very encouraging short term agenda!
Alwaysone, if you have huge cahonies try BKY.
T123 - interesting and honest comments as always
Where would you put your funds if you move some of your holding here, a gold stock?
Oh and an RNS to say 100% of land acquired at some point soonish.
RNS 1
Interims on Friday with generic updates like land acquisition....this one is a dead cert!
RNS 2
I believe there will be a toll deal with Calibre (provided Calibre are not over greedy).
RNS 2.5
SIte clearance works commence at Mestiza.
RNS 3
Contract signed for purchase of s/h mill probably coming from out of country.
RNS 4
Capital raise (my guess would be mainly the TSX despite his comments about AIM liquidity).
TImeframe - before y/e.
It'll be interesting to see how accurate my guesswork is.
Great summary: I hadn't picked up on:
Interesting comment was that CNR is currently valued at 1.5% of the gold price in the ground, whereas a more usual valuation is between 3 and 8% of gold - i.e the market cap value should be (at the very least) double what it is now. i.e 50p SP should be £1 even as it stands right now with no further progress.
Tester I am sure the Board and other large investors have taken these factors into account. They also have much better awareness of situation and prospects in Nic e.g. through political and other links, than most of us PIs.
So buck up, get back to your usual bullish self. We're still a £58m company sitting on $billions of highly profitable gold, with newsflow re land purchases, mill purchase, timeline to production etc due any time.
GLA
To confirm also, I havent sold a single share here. Just been trying to process everything thats happened (or not happened!). But I am disappointed not to see anything from Calibre about a tie up with CNR.
Need to keep reminding ourselves that we are still in the very early stages of a massive bull market in gold. So volatility is to be expected, and retraces/consolidations will happen regularly. Both in the gold price and the SP here.
Some comments on last nights interview.. First of all, Zak Mir was the worst presenter I have ever seen. Utterly pathetic effort. Try to show a bit of enthusiasm for a UK company trying to develop a very lucrative project in a sector thats on fire right now - we are talking about a 5 MILLION oz gold district (worth $10 Billion) . Just awful - should not be in that position.
Yet again, Mark came across as being very open, honest and enthusiastic about the project. I did like the part when he showed the photo of the hill in La India and said "you are looking at $2.5 Billion worth of gold in that photograph"..
Interesting comment was that CNR is currently valued at 1.5% of the gold price in the ground, whereas a more usual valuation is between 3 and 8% of gold - i.e the market cap value should be (at the very least) double what it is now. i.e 50p SP should be £1 even as it stands right now with no further progress.
MC/Condor are clearly taking their time to do the right thing / make the correct long term decisions - my worry becomes that the time its taking could run into political issues in Nicaragua RE elections next November etc. Thats why, in all honesty, I am quite disappointed by the timelines here. It feels to me like we wont get any news that can increase the SP significantly until next year, probably May/June. Thats why I was quiet over the past few days. Trying to decide whether to risk selling some CNR and invest elsewhere before transferring it back in here in 9-10 months.
MC made an interesting comment in that CNR could have spent $2M preparing for toll milling, only to see revenue shut down when Calibre closed the mill. They have only just reopened. The question is whether they will go on to spend the $2M to see early cashflow, or just keep the cash and use it for drilling / deposit on 2nd hand mill etc. It shows the scale / potential here when just a single tiny open pit of about 10% of the permitted reserves could pay $200M cashflow for a $50M upfront capex.
MC not looking to sell the project or do a joint venture. They are going it alone. While this will maximise the profits in the long term (and I mean 2-3yrs+) I think its also risky given their jurisdiction in Nicaragua. The country will need to hold itself together through the elections next year or CNR becomes a one trick pony with no backing from others.
Just my thoughts so far..
regards
T123
Nope, got them all still and will have until sale day
Where are the locked and loaded lot during the sp downturn? Sold part of their massive holdings perhaps?