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OOTW!
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Fill in the blanks he he
Chat gpt reply:
As an AI language model, I do not have access to real-time financial data and cannot provide you with the latest information on Condor Gold's proven ounces. However, as of Condor Gold's latest public release in September 2021, the company reported a total mineral resource estimate of 2.33 million ounces of gold at a grade of 4.0 grams per tonne in Nicaragua, including 1.27 million ounces of gold at a grade of 4.4 grams per tonne in the Proven and Probable category. It's important to note that mineral resource estimates are subject to change as further exploration and evaluation work is carried out.
Much more useful if you are coding but better than google search :)
Hey Siengred, where did you get the proven figure from? I only see indicated and inferred on the pdf on the website. Cheers!
Indicate is fairly high confidence I guess, whereas inferred could become more/less after further drilling
Slimbo, the only definite is proven and probable. Ie reserves. 650 k oz. Thats why inferred and indicated are priced much lower.
Hi All
Latest communication from the company is very positive. Gold is going the right way and inflation is going to be sticky which suits gold as central banks pause interest rate rises after the last meeting. I do think we will get between 50p-60p in asset sales but could get more if it becomes an auction. I did also notice in the video MC mention a buyer may buy the equity instead of the assets. All to play for . Good luck all and all my opinion
Plus saying that they have received follow up questions from a recent site visit. All progressing well IMO
Would 007 care to substantiate his remark about the Chinese seeming to be not interested as no such mention of this has been made by the company. Quite the contrary with the Company specifically mentioning the Chinese interest and the 8 day due diligence site visit.
The update from MC was very positive today, politics has thawed with recent deal with the US for political prisoners, and importantly all bidders were confirmed as being in the process so far and probably more will be added towards a sale that will be in excess of $100m. Plenty of upside for with 2-3x subject to binding offers that could come as soon as a few weeks.
Looks like this will go below 15p as it seems the Chinese are not interested but I hope not.
Wow we now have 3 non binding offers. This is incredible news as should get greater scope for bidding war. We have a total of 9 NDAs and another site visit just happened with a questions today. So we could be knocking at 4 offers so far. Seems that the sale process is going very well. Current market cap today is a £40m and sale is likely to be £100m+ so looking very positive.
Knocking on that $2000 door again. If it can settle above that level for a few weeks that would certainly boost this sale process.
There could be 15 maybe more 10 possibly 5 definitely 2.4
MC has always claimed that he drowns in targets.
So he must have plan A B C and D
know not no!!
It is important that CNR works on a plan B should no sale happen. Making sure that buyers no that such a plan exists is also important so that it lessens the chance of low ball offers if they think they have CNR over a barrel. The video was an encouraging update.
A further point to add to your list is that as I suggested on Wednesday there is always the possibility of a bid. Mark in the interview said that it was possible that this process could end in a share sale rather than an asset sale. I would be in favour of that and it would stop the comments regarding how will the value of an asset sale be fully reflected in the share price.
Well said ‘triple C’, perhaps it’s time that frustrations are put aside, as we are all looking for a positive outcome. Goodnight and GLA to us all!
Getting bloody bored of cheap snipes at such an important time.
For me it was a good update of progress on the ground.
1 Serious interest in Condors assets.
2 Potential buyer requesting 6 further questions.
3 Valuation must include upside of all assets.
4 Other plans if Condor don't get a satisfactory sale valuation.
5 MC would love to continue drilling on targets he believes is rich in gold.
6 Political situation maybe over the worse.
7 Oh and just to mention the boring statement, no many projects global that is all ready to go such as Condors excellent assets.
Good post and video CF. GLA.
How about some comment on the video slim? My take on it is that they won't let it go for cheap. It's the first time MC has mentioned about the possibility of putting up a small scale plant (for a lower upfront capex of course). If no suitable offers come in, we could start with the higher grade from mestiza. Look at mako, they managed to do it with 500tpd.
Mention of a tsx listed company along with a Chinese gold miner, wonder if that is calibre/mako/first majestic.
Mako have just done a 10 to 1 share consolidation and up listed. They have reorganised their debt to a silver stream so they are effectively debt free. They are cleaning up their balance sheet. It might be so they can focus on increasing their own mill to 1000tpd and spend in exploration. Maybe they are interested in a merger/buying us. More I think, maybe mako will benefit from buying us more than calibre. They have minimal reserves and a small processing plant and only produced 36,000 oz last year.
Noticed someone sneakily buying 71,581 shares at end of day taking advantage of the lull. Would be great if we get an RNs next week that we have additional offers as i presume MC must be moving those who made offers to now complete binding offers. If we get one binding offer i presume it will be immediately announced and then it will speed up any other players to make binding offers and see who proposes the best deal. Still does not preclude someone simply tabling an offer for the company, although premium of 200%+ is unlikely so really share price needs to rise to 30p+ for that to be a possibility.
It was illustrative, albeit I am now more optimistic about the eventual asset sale price than I was 3 months ago. MC will not give anything away for obvious reasons, but he is pretty clear about where in the the ball park the board's expectations lie. And it's not at the low end of the scale. We should all be thinking about where previously published NPVs are rather than off the cuff statements from MC. We will not of course reach those valuations but given the interest I now think we will not be a million miles away from them.
My own base case expectation is that the subsidiaries will be sold but, as suggested, a bid for the company could always happen; perhaps from a new player.
I was too optimistic in timelines. If anything, there might now be more interest (and more delays) than before. All being well this should bring a better price outcome. My earlier optimism was largely influenced by CT changes in April, but if we get a far better price the additional tax should (hopefully) be worth it.
Ddd, I told you you were being hopeful to have cash by april. Imv we will be lucky to see cash before q3. What I dont want to see is to wake up one morning with cnr in suspension and having to wait for eventual payout. Hopefully this doesnt happen as I would like the opportunity to sell on the open market. I think equating a deal to share price is difficult as you mention warrants and options but how do you factor in to working out 75p??.
Even if you allow 200 m shares you are reckoning on £150m and 230 m shares gives £175 m .
I realise you dont mean this to be a definitive figure but Personally I think it is a bit hopeful but we will see.