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Who names their kid Onion Head? Seems cruel. What is Onion Head's real identity please and what do they fly. WTF is a hobby/commercial pilot bangin' on about gold for anyways?
Is Onion Head a weirdly named mining consultancy?
Bit behind the curve
Johnny, it need not be 'death'. They should have raised the funds to become a producer IMO in the first place rather than trying to sell for peanuts. Perhaps if no bids are forthcoming they will have to go down that route anyway. If this is so good (14 million oz according to Onion Head with low aisc) why the hell would you sell it for tuppence ha'penny? He bleats on about not being miners - how about hiring someone who is? Pathetic cop out.
Onion was the old pilot
Kinda lost interest with this but drop in occasionally to see how if this has sunk without trace yet.
Who is Mr Onion?
Anyway, no point crystallising such a loss: Death or buy out hnuh?
Unfortunately onion ass has never kept what he has promised....
Agreed, Onion Head should do as he promised and provide a progress report asap. It is hard to believe how his actions have destroyed the sp over the last few months. This was over 30p in Q2 last year ffs.
Simms, all that is clear is , no news is no news! Radio silence from bod is more often than not not good news in my experience.
Agree slim, if there are serious negotiations we should be kept informed and the sp would react which would be good for negotiations. With a sp of 16 p we look like a bombed out aim explorer with not too many options. Nda does not preclude keeping us informed of the progress. such an rns may be close hopefully and then anybody punting now should be quids in. Good luck peeps.
Its clear the lack of news is good news but it still is a case the company owes it to shareholders to share updates on progress as clearly some shareholders are disconcerted and selling and with such a liquidity it could damage the share price and the sales process as any suitor considering $100m+ will be taking a double take when they see market cap is only £28m. The difference is vast and therefore the company needs to keep the gap to a minimum as it will not help final negotiations regardless of how Condor spin this. Any buyer will say why should we pay $100m when investors value you are $32m so why dont we make an offer of $60m for the company instead, which would be 100% premium to today but $40m less for buyer. Really Condor need to stabilse the company valuation or it could create complications. I am confident but the lack of news is not helpful to the sales process itself.
Just remind me again. How did Mellon make all his money?Everything he touches seems to turn to dust and its not gold
I agree that any offer here is going to have to have the 'blessing' of the Nic government, and is likely to be an offer from a non-western player. But I think ( or is that hope) that the lack of an RNS is good news. They can't give an RNS if they are haggling with parties, but if they had received no offers, or indeed no offers at a level the BOD consider to be a reasonable level during the last 3 months, I think that they would have had to have RNS'd that. So my take is that they must still be in 'the process' with parties at a reasonable level.
Conbore are pencilled for a road show next week and i cannot see onion going he knows it’s all coming to a end and it’s diss poor ending Jim’s pulling all strings to try and get he’s money back and onions just a puppet
Why not rns with potential parties who are going to stage two NDA what a load of pony
Seems like Nic gov will call the shots here and unless their palms are greased they'll be an obstacle. Its likely they and JM are looking for a sale now to put this to an end. All this talk of JM being a shrewd investor is probably true but not everything he touches can turn to gold. I mean the man could finance it himself outright if he really see's the bargain we are seeing. Lets hope the chinese come in and take it all lock stock at a reasonable price so we can all walk away with something
https://www.kitco.com/news/2022-12-21/Dealmakers-brace-for-slow-2023-recovery-after-global-M-A-sinks.html
Simms, the possible danger I see is that if they carry on giving no update we may find that sale disclosure is accompanied with a suspension of the shares. I dont find that a particularly desieable situation, I would prefer that we have announcements at the relevamnt stages and the market has a chance to value our shares. It could be that there is no real news just tyre kickers and due dilligence, and no negotiations, who knows.lets hope for some news this month .
You would hope that after over 3 months that some RNS would be forthcoming because i understand that activity that has material impact on the company should be released. I appreciate a sales process can require an NDA to be in place but there must be a timetable that Condor are working towards and would expect some update at pertinent points along the journey to announce offers, similar to Shanta, if simply to close the gap in the company valuation. What happens if we get no update until we get one that asset is sold for $120m? The share price would likely triple or more. Surely it is wiser to build momentum and at the same time be open to looking at financing the mine as if the share price recovers back to 30p we are closer to where we were before the sale process was announced. Now the US and Nic seem to be dancing together a little more you might expect more potential to find the $100m. Certainly the market seems a lot better than back in December. If the share price recovers back to 30p then that would be not a bad place to look at financing the mine with a mix of debt, gold loans and equity or JV that seems the far more favourable way forward so Condor keeps a stake while letting another miner forwards.
If you can sell down the share price prior to Monday it would be much appreciated
Not looking like buys to me.
I never saw the ask at 18p either
Yesterday
It was yey
200k shares traded already
The excitement here is unbelievable onions done a top job the Easter rabbit got eaten years ago
I'm not sure if they will be interested but at least they know about us. Similar size ish to zhaojin mining and have projects in Mexico (although some ongoing debates there, which to be honest, nic seems a more mining friendly jurisdiction).
First majestic bought the jerritt canyon mine for $470m in 2021 which was an already producing mine in nevada. They bought it to 'turn it around' but are still having issues. The mine only produced circa 64,000oz last year due to severe weather conditions in nevada. As a result, their AISC was $2745!
Sometimes goes to show that not all producing mines are profitable and although they already have the infrastructure in place, sometimes starting from scratch might be more beneficial.
E l, I dont believe it pointless, I believe it is part of the regulatory process to declare price sensitive news. I have seen them numerous times. There is always caveat that there is no guarantee of finalising etc. Shg had two chinese suitors but failed progress a deal . Personally, I believe that the lack so far of a similar rns means that the process is somewhat slower than many were predicting which doesnt surprise me at all. Hence the ceiling of £5 m for the open offer to cover an extended period if needed. Hopefully we will get a rns stating the state of play before we enter q2.
Yes e l, I would certainly like the option to sell my shares. What I do not fancy is having a process that gives no progress rns and ends with completion, suspension and waiting for a payout of which nobody has a clue how it will be configured. Hopefully that will not be the case
Thats my view obvs you will have a different one.
Good luck.
H50 your link went to another of his tweets. Here is another if you've not seen it https://twitter.com/PaulHarrisGold/status/1631770047407325186?t=XfM5UaJqrCuKYe1xKlIfUg&s=19