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So is it those pesky MMs again do you think ISA?
Not good I can Buy 6ok shares at 24.49p going into the bell, and can't sell a share.................an RNS Monday will change things otherwise we may see another drop!
On a positive note its Friday night, so have a great weekend everyone!
Connect... Slim!!! How very dare you
Can't sell at 24p now, and buy is 24.44p..............not sure it was a Pump and Dump but it does show it can go up quickly with positive trades and equally go down at the same pace with negative trades...............currently on the negative cycle but this can change quickly
Lol it’s red Friday ffs😂😂😂
Price has moved up to 24.5p to sell but still can’t sell any if I wanted to….looks like the worm has turned!
Up the Kyber pass Slim, all these predictions are like balderdash!
?
August is generally a slow one for M&A but you never know but early September would be optimum to announce something so we have completion or some way forward before christmas. Increasing cash balances at gold miners are ballooning so they need to deploy so i think a deal is very likely given the upside for the acquirer as they will be looking at a mine with probably 60 years of gold to dig up from the district. buyers understand the potential.
Looks like the balloon has burst again albeit temporarily/hopefully!
The wider market and price of gold looks to have pulled us down and I now cannot sell a single CNR share on II but can buy at 24.75…..come on Mark!!
Wish I had traded up and sold, looks like it is rinse repeat!
I actually found myself feeling sorry for MC, he must be boring himself to death telling the old Condor story to anyone who will listen…. I just live in hope of that RNS that will set me free ha ha
I echo your last sentiment CCC, but would be mightily ****ed off if I lost out after all this time here!!!!
Good evening.
I have been for a while trying to make sense of the company tweets, they seem to have increased recently.
Here are the last 3 over the past 7 days.
11th Aug.... Cacao Deposit video....Don't miss out, click here to watch it now.
15th Aug....Feasibility study on La India Project, Revisit and explore the details:
17th Aug....Our story starts back in 2010...Check out our YouTube channel to catch up and keep up!
Let's start with tweet 17 Aug, why say " don't miss out " any investor already knows the Cacao potential, so what is the messaging? who for?, is it targeting existing investors or new.....or any buyers?, i am trying to understand the point being made, If it is existing investors and by chance i have not seen the video, why would i be missing out?
15 Aug,the same can be applied to the feasibility study, why are we being asked to " revisit and explore the details ",nothing has changed since the release, so what is the importance in doing so again?.
17th Aug, todays tweet, " .Our story starts back in 2010 ", i don't get going down memory lane! let's be honest there is a lot to forget, or is this a hint that the end is nigh? and the Youtube video emphasising " catch up and keep up " is intrigin as at present there is nothing to catch up on or keep up on!.
So at a guess and if these tweets have any value to be released, i would say it's all done and dusted and news is about to drop, if not they are totally meaningless.
Lets see...... 40p, 50p, £1 i care not, just want it done so to move on either breakeven, slightly in profit or come out with some reward after all these years.
Good luck. CCC
Yes good luck to us all, I would very much like to draw a line under this investment journey soon!
Likely offer in q3 sometime . As Jhongle says, then we see the fat bird .
Good luck all . Better to be pleasantly surprised than badly disappointed.
Nero, I certainly hope we have a binding offer this year. Hopefully by end of sept. Personally I don’t find the lack of further visits overly positive. Ur we only need 1 buyer. However Shg had 3 offers2 being Chinese and no deal transpired . They spiked to around £130 m on news of offers. I do not consider Cnr as good a prospect as Shg or as valuable . I don’t see more than £120 m attainable personally which will fail to give an sp above 50 p and that’s without knowing exactly how many expenses will come out. If a 15% tax applies which appears likely that brings 120 down to near £100 less other expenses and it is still not clear how cash will be returned to us or how much.
What we do know is Mellon has vastly reduced his average so one would assume reduced the sale price requirements.
I expect a li ease
Seingred one step at a time, we need that first binding offer. No idea how long that will take, only that MC seems far more confident that we'll have one well before end of year if the sales process will be finalised by then (take that for whatever you think it's worth). I would also expect more warrants to be converted before the end of the process.
I would certainly expect some LTHs to offload a chunk on news of a binding offer if we get a re-rate and some decent volume, and keep some in play in case of competitive bidding.
Nero, I think if sale process completed means cash in our banks then highly unlikely. As I said calibre deal took just over 3 months from anounced agreement to completion so unless an agreed deal is finalised by end of sept it is highly unlikely. Since most here expect a “bidding war” after first binding bid for me conclusion this year is unlikely but it will take as long as it takes. Expect more 15 p warrant conversion before then. For me the first news of binding bid will be my the green light to exit rather than completion.
The initial process is already longer than initially forecasted which doesn’t surprise me . Completion of bfs was way late etc not to mention production.
The MM’s will only sell 25k shares on II AT 26.75 but will buy 25k at 25.10p and take as many as I want to sell above 24.6p… they are happy to buy but reluctant to sell, with a few buys this will bounce up nicely 😄
Jhongle, I want as much as possible for my 22 p shares but have always found being cautious and factoring the downsides best for calculation. Clearly the constant blue sky posting has led many down the garden path. More so than mc . Work out a sensible likely sale price, then factor in all the possible outgoings as best you can and likely no of shares. All basic investing principles that many here have continually disregarded. Then factor in mellons massive help yourself at 15 p . 40-50 p seems most likely imv.
If I am too cautious that’s fine but historically that’s not the case!
Good luck
Jhongle cont, with 200 m shares 70 p gives you £140 m plus costs . However there will be more than 200 m shares.
Here’s something to peruse from the rns history.
Condor S.A. has signed an irrevocable undertaking that, subject to the approval of the Nicaraguan Ministry of Mines and Energy ("MEM") by end-May 2020, it shall transfer (the "Transfer") to Nicoz S.A. the Potrerillos concession. Transfer documents have been filed with MEM.
Within five days of the Transfer being approved by MEM, taxes amounting of up to $90,000 shall become due to the fiscal authorities in Nicaragua, being 15% of the agreed consideration value of US$600,000 and which the Parties have agreed to bear equally. To this extent US$600,000 in cash has been paid by Nicoz S.A. to Condor S.A. and US$45,000 has been placed by each of the Parties into an escrow account with a third party agent, to be released and paid out upon approval of the Transfer. The net consideration to Condor S.A. from the sale of the Potrerillos Concession after deduction of taxes is approximately US$555,000.
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You may well be right Seingred, but I probably think that this asset is worth more than you do. Fat lady will hopefully sing soon
It wouldn't say "worrying" pdp, I would say "annoying". If the three site visits occurred from March, then it's been five months since the first. How much time for legal due diligence and negotiations for a $100-200M asset purchase? I'm no expert but I know how long £5M deals take to agree for the company I work for and 5 months is not that long!
MC has reiterated recently that he expects the sales process to be concluded this year and he is involved directly in negotiations so if it was looking like there was no binding offer in sight I doubt very much he'd be so confident. Though some investors may have lost trust with his judgement, but in that case look at the facts: £400M+ NAV, 5 non-binding offers, 3 site visits so far, 8 companies currently under NDA, etc.
It is highly likely the assets will be sold, the only questions are for what price and how much gets returned to share holders. None of us really know what's happening behind the scenes, we just have to wait and see.
I have to believe 40p is achievable but the amount of time it is taking is certainly worrying
Jhongle, I don’t believe there is much chance of 70p. There is almost 200m shares with many options and warrants to convert yet . That would make around 0