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I've followed this share since 2006, bought and sold small amounts down the years, then got totally bored of it and the disconnect between the pumping at Master Investor and the lack of positive share price action. So not looked at it for some time and just checked up on it this morning as I've been looking for some exposure to gold again.
I can see why the LTHs are miffed off with it without going back through all the posts. I've met Mark Child and happen to think he is alright. This set up reminds me of Polo Resources back in the day, where Mellon was also involved, and which paid a very nice dividend at the end that paid for a nice holiday. I wonder if something similar will happen with Condor Gold, especially with gold rocketing up with the (on-going?) bank bailouts in the US.
Saying that geopolitics in Nicaragua are concerning, El President has kicked out the Pope, so not sure if Hail Marys will be of use with this share. But it's so low in price, relative to the £ price of olden days, it's worth a punt.
Well that says a lot more about you Punter than Mark!
Simms, you are forgetting that anybody buying first of allhas 18 months of time and investment before even first pour, then 6 months ramp up period. Also in one of mc interview with jochen he confirmed 2 years to recoup costs, which is not at all bad . So it would take anyone around 4 years in reality to recoup costs notwithstanding any possible interest costs.
As regards the 10 m oz why not say 50 m or 60 m . We have 2.4 m proved . Obviously there is more but until drilled and proven its just possibles.yes it is desireable to have further prospectivity but not going to add much to the $$$ imv. we are at the business end now , lets see where we end up. Personally disapointed with the sp today .
nero so IRL you honestly believe that that your amazing CEO (email buddy) is beyond reproach and had absolutely nothing to do with the current 17.5p share valuation? Someone continues to wear the blinkers. He has led all of us up the garden path. If he scrambles a sale price that gets some peeps their money back after 13 years this will still be a massive wasted opportunity for all concerned.
Frenchie I wouldn't waste your breath. The fact these posters feel the need to constantly insult the CEO of a company they are invested in says more about their lack of character and inability to take responsibility for their own investment choices than anything else. They need to blame others for their "misfortunes" because their "mummies" clearly didn't raise them well enough. Feel sorry for the people that have to put up with them IRL quite frankly.
frenchie lets see whether he delivers a result here first. Looking at the current 17.5p bid I reckon Onion Head is a well deserved handle.
Don't you think it's time to stop referring Mark as onion head? It's extremely childish and very discourteous to someone who has got the company to the verge of a buyout. Mark has always responded to my emails and if you have a problem with him then be grown up and speak to him. It's playground humour for gods sake.
He’s gone to Nic
Onion should definitely be locked up in London to not mess everything up again
Seems to be heading back over $1900 - should all help Onion to realise a decent sale price!
Also a 250k sell from the morning finally got filled so looking a lot more perky on the upside. gla
Condors numbers were very compelling in that in a average case scenario presented just for La India the debt Condor would have taken on to build mine would have been paid back within 12 months of production. When you add in Mestiza and America even quicker. Therefore any miner looking for quick return of investment and ability to invest £100m for asset and £100m for capex would see that all returned in 2 years from production and keep the mine for free. Need to remember we have over 2m ounzes of gold and so many targets we easily have a 10m ounze district so even lowball offers of £100m will be massively repaid and very quickly. Its almost a free mine for an investor and why i always wanted Condor to go all the way as the numbers are so attractive and dividends would have been rewarding. Need to remember Shanta see themselves massively undervalued and management were not interested but had to go through motions if just to tell market to better value the business. For the interested parties they had little chance and largely walked away as the buy price was multiples of the current market cap. With Condor its a golden one off as if price is right its a deal with a ready to roll project in a very gold mining friendly territory. I wonder if binding offers will be announced as they arrive or if Condor will wait for best binding offers before deciding who to sell to? if the former binding offers might even start to come in as a early bidder might warn off other bidders with a early knockout price.
Punter, lets see the confirmed offers first .
Simms, you keep stating this vote winning biden sanctions rubbish . And now us and nicaragua are dancing together. Today nicaragua has cut of ambassadors with vatican in his war with the catholic church, has stripped many prominent opponents of their citizenship. President lula of Brazil recently criticised ortega at alba meeting . Neither gustavo petro of colombia or boric of chile also leftists support him . Geo politicals are still degrading imv . Trump brought in sanctions and the only yanks that have any real interest in latin america live in florida that will probably be won by de santis who may become president . He will likely make biden look like a teddy bear.
Cnr will not fund this . There will not be any kicking on or your mellon financing out of petty cash etc. Sale is the only realistic option and it is really a buyers market imv.
Best to be realistic as always.
Yeah fair enough. A shell may be useful for us shareholders further down the line. Take the divi and then see what Mellon comes up with.
Punter, you need to use the fully diluted number . You seriously think mellon gave himself 16.66 m warrants for no reason?? The real number is around 235 m shares. Personally will be amazed if an offer much over £100 m is agreed. You are not allowing also for costs ??? Pf which nobody here has a scooby about ! And looks like mellon probably intends to keep a shell going .
JT it certainly does. Can't say that I am happy with how things have panned out for the long-termers but I think today's news provides an opportunity to make a bit of money if you have some spare cash to invest. I put in another £8k this morning in the hope that Onion can be taken at his word regarding his confidence that he deal will be struck. Its all a gamble but this looks a good one now IMO
Somerset, mellon predicted 100 k oz production for last year and 150 k oz production a couple of years ago to his followers. Mellon has also paid £1.60 per share . Maybe that means we should get over £1.50 . Just like 888 predicted . Mellon helped crash the sp to 15 p and loaded himself with 15 p warrants . Blind faith in the granny robber is folly imv. .
However there is good risk reward for anyone entering sub 18 p imv . Burying more cash in here if your average is much higher is a more risky scenario. Shg had 3 offers. Cnr have 2 non binding offers so far and are still in the first phase. Shg offers came to nothing, and are a far more attractive target than cnr imv . Their m cap around £110 m spiked to £130 m on bid speculation. Some overoptimistic targets on here imv.
Management were confident of raising cash and progressing to production not so long ago.
Simms ,n10 ndas does not mean there will be 10 offers or a bidding war. There is still due dilligence to carry out yet and legals. This will roll into summer easily .
Good luck all
I reckon it is. I've been trawling through DDD's January posts to get up to speed on things and have decided to buy back in! (Feeling quite apprehensive about it...) At one stage back in the day I had 1.5% of the company, and with friends and family more than that. I used to regularly go and chat to MC in St James'. Good luck to other holders and respect to the long termers who have showed astounding patience.
I also wonder how much drag from the general FTSE downturn is having an effect?
Thanks for that Punter - saves me trawling through the RNS history
90p is 4.5 p in old money pre consolidation.
Makes you think no?
Thanks for that Punter - saves me trawling through the RNS history
90p is 4.5 p in old money pre consolidation.
Makes you think no?
45p to 90p per share I should have said
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."