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The suggestion from Onion was a sale at between $100m and $200m, so £83m to £166m. With 181m shares in issue that comes to anywhere between 45p to 90p sale price. Most of that should be returned to shareholders via special dividend.
I suspect absolute minimum asset sale would be £100m and that barely covers investment Condor have made over last 12 years and for most investors here today a loss when the hope was £1-£1.50. The best option is to average down as multiple parties already made non binding offers and and confidence from board to say a deal is likely says it all really. Wording of RNS is quite clear and i think we should see 50p+ outcome but £100m would be closer to 60p+ so at 18p upside for limited risk as if sale does not proceed for whatever reason market is strong for gold and Nicaragua looking to be softening so i suspect it opens field.
Seingred - 'far from a done deal'? Yes, to a point but the RNS suggests it is a lot closer than you are suggesting - "The Board is confident that a binding agreement will be reached. Investors will be updated in due course."
Nm, good luck with that . Sounds bit crazy to me . Why would you even think about buying at 40 p when you can buy at 18 p. Done my buying after the raise and slightly in profit today finally. This is still far from a done deal. good luck.
£0.65p would be a miracle to be honest! Out of curiosity how do you come to that price, as a few experienced investors have alluded t/o prices are nowhere that figure?
Hello, back with 15 k shares. Only 1/10 of my holding three years ago. Glad I got out by time with a very good profit. Now I want to see how this pans out. GLTA
Another tick up to 17.5/18p Looks like 20p+ close today which still represents a steal based on today's news
Have been in and out here for years .
Was currently out , but at 17.5p , also happy to come back in now .
Its been a long journey for LTH's I'm sure . I held for a couple of years , but like many got bored with the story , despite advances being made .
But now it looks like it really may come to fruition .
Happy to buy up to 40p.
Expecting this to be 65p by July
With Jim Mellon being a big player here and him having taken a lot of stock at 28p and 35p in previous fundraisings, i am hoping we at least get offers in above those levels. I think its fair to have confidence that there is relatively good upside to be made here by getting in to Condor at this share price.
Punter I live in the vain/deranged hope that a decade plus investment gives me, at the very least a return equal to inflation at the very least!
Fair enough Connect1. Obviously you have to have some spare cash in order to average down. For those that do today's RNS suggests it is the right move. I hope you manage to get out ok. If Onion's prediction of £100m to £200m comes off you should be fine. GL
Punter, that’s easy to say when you’re not down six figures and are at best looking to average down! The fear for me is throwing good money after bad and as we all know there are no guarantees. Potentially a great buy in price for newbies or people with your enviable average SP. I have made my bed and decision to stick in the vain hope I recover my investment, for which I require early fifties!!!! GLA especially the LTH club members.
18p paid. I will be surprised if we don't end the day above 20p. Peeps should be piling in here on the back of today's news. The fact they haven't as yet shows just how far Onion's credibility has fallen. Despite that this looks a no brainer from here
The key in the RNS is what Punter64 as highlighted and that is the board is “confident” of a deal. The board know the offers and we know approximately the minimum takeout price. For a board to say they are confident at this stage gives you an indication that we are talking serious offers. Looks to be a minimum 2x from today and possibly 3 or 4 in a month or so. Happy to keep on buying as its largely on a plate for investors to make a quick return. Gla.
Slim, I don't really care where Onion is as long as he brings home the bacon! Today's news suggests that he may finally deliver! We shall see though...............
Onions work it well going to nic that’s the roadshow appearance out the window
"The Board is confident that a binding agreement will be reached. Investors will be updated in due course." Very positive statement which suggests that an acceptable bid is in the offing.
Let's be frank, before the weekend it all was all negativity, in that we have no interest and the company will go bust as we cant get funding for production.
Like or hate Mark, the RNS states there is interest, I for one am more than happy to hold at these levels, surely a great opportunity. At 35p sale its a Bag.............................
I think the market is asleep but i have added more this morning. Seems a no brainer if you have spare cash.
No, but Onion seems to be keeping a tight grip on news here. I am surprised the sp dropped on Friday given today's news and I was not expecting to see the RNS this morning. Hopefully the details of bids haven't leaked out yet?
Well, I sincerely hope you are correct . Not exactly stratospheric gains today (yet)
Hard to believe this was trading at 37p last May and 53p in May 2021, it now lingers around 17p, quite incredible, todays news has to be welcome, so will the price start to recover, there are more interested parties than I thought there might be.
I cannot see them selling this under $100m at that level it would equate to 44p a share at current FX rates.
There we go e l, an rns somewhat similar to Shg that you think is not needed. One less offer so far but plenty of interest. Two non binding offers subject to due dill . As I expected peeps idea of timetable over optimistic as usual. Getting to end of first phase now. This has many months to run with no guarantees but now we have something to back the sad so anyone wanting to de risk may have an opportunity. Personally I like that scenario.
Possibly JT but they may be decent offers - who knows? Fact is Onion isn't going to opt for an offer until the whole process is finalised and all possible offers are on the table. With so many potential bidders in the race still there is good reason to expect an acceptable offer at least.