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We're effectively only normalising here back to pre sanction levels, which is brilliant if you got in at the Open Offer price, but we should all just consider this as a normalisation. It's a move in the right direction sure, but you ain't seen nothin' yet.
Certain comms are doing the rounds in certain circles; we're beyond "Phase 1".
Condor's day is soon - this is going to pop massively from base. As a point of ref I consider base to be roughly 35p. My average is 46p. Sale price, depending on bidding war, anything between 65 absolute minimum, and £1.10.
Whoever picks this up is sat on a bn dollar company.
We have shaken off a few sells today but moving strongly into the close and setting up another position to push on tomorrow towards 30-40p that looks to be a good holding position while other bidders show their hand as i am sure from the nine 9 NDAs and $1900 gold miners will be bullish and most have enormous piles of cash needing a new home as gold miners have been making record profits last few years.
Simms, quite frankly, interest rates should never been anywhere near zero so **** them, this is their mess. Gold flying is the natural response to bureaucratic corruption and incompetence - something that it appears no western nation has any perceivable shortage of at the moment.
Will we finish the day with another 10%+ increase to make it a hat trick? GLA
Credit Suiss is one under spotlight today but there are probably so many caught with massive losses on bonds from vertigious interest rate rises. It beggars belief central banks honestly think going from 0 to 4% interest rates almost overnight gives business any chance to properly plan. I get they are simpletons and focus only on inflation target of 2% but its totally out of their control anyway as it was energy prices that started all this and no interest rate, within reason would have any bearing on that. They should have just capped energy prices and blocked inflation. surely central banks understand that kneejerk rises in interest rates will clobber a lot of banks, pension funds, businesses as it takes time to adjust to new normal. Anyway Condor should be a clear winner.
Gold is in a win-win situation. If banks go under, gold goes up. Even if they don't, the FED will respond by tapering their rate rises, also good for gold. Only thing is it could bounce back down around 2000 usd, it would need a big bank in trouble to shoot right through that price and stay there.
$1924 and rising as maybe the emperors clothes are not what they seem. You can imagine another bank is under pressure from horrendous bond losses and people taking flight to safety. As gold climbs value of Condor will continue to rise and buyers will probably want to close deal sooner. At what price do other possible buyers try a straight takeover and try to crash the party as if gold hits $2000 i suspect anything could happen.
Ides of March! Yeah but on Friday it's St Patrick's Day and everyone will be overwhelmed with Irish Optimism and the markets will bounce back.....maybe?
Beware the ‘Ides of March’…haha
My thoughts exactly nero120, it’s happened every time all over the years invested here! :-(
Yeah about that, would someone like to explain why whenever Condor seems to find it's wings, some act of God comes down and clips them?!
TBF - given the general carnage elsewhere in the market we seem to be reasonably buoyant so far
The gold price has just made an all time high in sterling, currently at £1588.
Agree. CNR finally seems to be happening now with buyers coming in (both for the assets and the shares)
OMI is not happening until they get the JVA with Newmont/Agnico signed and sealed and work resumes again.
Ideal situation would be sale goes through here before OMI get their JVA done so can put some proceeds from here over there.
On a free ride in both at present so let's see how it plays out through the year.
GL
With all the news available in the public domain confirming multiple bidders there are not so many opportunities where the upside is conservatively to double your money from today in a short space of time as out of all those bidders something will land to suit all parties. We have the cash buyers but i am sure we have plenty of interest in JV and other mixes and some have probably yet to declare their land now this is almost certain to sell. Condor has languished unloved on AIM and like many companies the market will only wake up when you sell it. Gold price over $1900 giving any buyer their payback within 2 years of production and keep the mine for free that has 2.4m ounzes confirmed and easily another 10m so this mine will run for next 20-30 years. There is every chance gold will rise considerably over the next 5 years as central banks struggle and gold comes back to underpin the financial system as i think SVG was just a canary in the mine. For any gold miner this is a project that will keep on paying out and a shame we are probably not going to be the ones mining it but if the right offers comes in, hopefully 60p then that is fair. Given today we are 24p that is nearly a triple bagger.
Just reversed losses and steamed back over the $1900 level
There is bound to be some selling into the rise but with the prospect of a double or triple bagger within the next month or so firmly on the cards on what we know, this should continue to trend strongly upwards.
This share has disappointed too much down the years to consider it a done deal. I wouldn't be surprised to see some selling modulating the SP rises until we get more news.
Fancy seeing you here portfolio. I have missed you over at omi after your prediction of 2-300% in 2-3 weeks lol.
I have added to my 17 p shares here this week. Finally at the business end hopefully.
Sein, as long as the pudding has plenty of self raising flour who cares
Seems to be someone snapping these up in 10k or 15k round numbers.
Indeed slippery. Simms has a habit of over egging the pudding. My question is, why an asset sale, the sp is re rating with news , a clean takeout is much more preferable to this rather unusual asset sale that is not very transparent. Takeover of company would be on a fully diluted basis , all cash to holders on completion of sale. This is still far from transparent but I am happy to wait for 30 plus p to be out with free run to the finish.
Nothining is guaranteed as rns states, but the likely hood is a deal forthcoming but the sp may too and fro yet before all becomes clear.
* sanctions
Simms 32p was before the sanction. From memory 22p ish just before placing announcement
https://www.youtube.com/watch?v=maSteRYRpiU&ab_channel=ProactiveInvestors worth a watch for those wondering what the fuss is about here