The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
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At least Onion has bothered to update us. All I can say is that Big Jim is easily impressed!
Its clear the price aiming for is double of triple todays price. It sounds this all could be wrapped up by the start of New Year and we have cash runway for next 6 months and Jim will keep backing Condor until he gets the price he wants. Sounds we are in the final stretch, longer than expected but maybe with gold close to all time high and gold companies sitting on billions of profits looking for a new home Condor might get its timing right, although JV 12 months ago was the best outcome but we stand at doors of a sale.
I dont think it was intentional to raise another £1 Million, Just that there are outstanding options at 15p,
but it does send out a signal to potential "BUYERS" that if the Company needs cash for corporate functions etc,
Big Jim is our banker!!!!
Perhaps they want to buy a new set of xmas lights and some posh crackers for the staff xmas party celebrations?????
It is Jim taking £1million at 15p, when he knows the non binding 5 offers! So he is going to take as many as the board will allow him. The board then said, we are missing out, we want some at that price! That is how I see it. They know the value, and we just have to follow money!
Is it a given that we need more than £1m to keep us ticking over and does that indicate the potential length of the delay?
I just can’t believe the share price hasn’t rocketed, the MM’s have ignored the RNS. There is enough evidence that the values talked about are well above 15p. I like the fact that two of the suitors are two gold producers, would not mind an equity swap to capitalise on higher gold prices. Why put it in lights otherwise? With news early in the new year, this is a low risk investment at this level.
It’s good to see the race to buy more shares on the unbelievable news
At least Jim can get his average down, he knows what the two bidders are prepared to pay at the moment, so it must be a No-Brainer to chuck another £1.0 Million into the pot , Just got to hang on till 2024 now , let the two front runners fight it out??
Positive news except for unknown amount of further dilution?
They know that the current price to buy at 14.5 will not be available for long, IMHO.
Why the need for another small raise on par with Jim of you can buy on the open market for roughly the same price? Just buy on the open market and help yourself out.
What a great update, in hindsight the slowness of the process will give us a higher price, with gold increasing by $100’s. Potentially we are a gold district with over 5 million ounces. There is another $500 million, and we are valued at £23m. It is not surprising the other directors want to get in on a small raise at 15P! They know the value of the 5 non binding offers. Happy to be patient, the share price should respond from being ultra bearish today, to something that hopefully will be more logical given the assets and gold price strength. MC is trying to give us enough hints!
Very nice update, gives us all a nice post xmas event !!!
Well we have to assume these advanced talks will be the one we are waiting for to complete the sale
“ the Company is in advanced discussions with 2 gold producers. There are currently eight companies under Non-Disclosure Agreements”
Not quite over yet.
Condor Gold Plc
("Condor" or the "Company")
Condor Gold Provides an Update on the Sale of Assets
On 22 November 2022, Condor Gold (AIM: CNR; TSX: COG) announced that following a robust and economically attractive Bankable Feasibility Study, also known as a Feasibility Study, on the La India open pit, it appointed H&P Advisory Limited (Hannam and Partners) to seek a buyer for the assets of the Company. The last update on the sale of the Company's assets was via an RNS on 31 July 2023 and in the interims accounts on 7 September 2023. The current status is that the Company remains in receipt of five non-binding offers, with three site visits having been completed. Although none of the non-binding offers have progressed to firm proposals to date, the Company is in advanced discussions with 2 gold producers. There are currently eight companies under Non-Disclosure Agreements (NDAs).
£1M Raise Via The Exercise of Warrants
The Company also announces that Galloway Limited, a company wholly owned by Burnbrae Group Limited which is, in turn, wholly owned by Jim Mellon, Condor's Chairman, has sent the Company a signed notice for the exercise of warrants which will result in the issue of 6,666,667 New Ordinary Shares at an issue price of £0.15 per new ordinary share, for a total consideration of £1M, which has now been received.
Application has been made for the New Ordinary Shares to be admitted to trading on AIM. Admission of the New Ordinary Shares is expected to take place on 15 December 2023. The Company has prior approval for the Shares to be listed on the Toronto Stock Exchange ("TSX").
The Company is in discussions with other shareholders who have expressed interest in investing alongside the Chariman and largest shareholder on the same terms, notably, via a small placement of new ordinary shares at £0.15 per new ordinary share. An update will be provided shortly.
That's your opinion Seingred. I have already stated mine. I think I've been pretty clear. We shall have to agree to disagree once more.
E l, I think when your largest shareholder director and soon to be chairman states production of 120 k oz in around 2 years time ie this year it is pretty poor to say the least and should make you question anything else he comes out with! It isn’t happening at all is it and never was. If you don’t expect anything that ceo or chairman says to come true then how do you invest in a company. Personally I knew it was bunkum but posters were quoting it as if fact. Do you think anyone that watched mellons podcast and bought on the strength of that statement and mc £1 aims are too stupid to be investing?
Agree nobody should invest more than they can afford but if you can’t expect your bod to give you fair guidance then what’s the point?
Anyhow, eyes down
Good luck
Good evening, whilst it is quiet i thought i would look into NS.
I had thought he was just an irritant dick, however looking at his posting history, just about every other post has the same theme, examples below on different companies boards.
I post realistic forecasts, which turned out to be correct, and I get attacked.
If you lot weren't attacking me I wouldn't need to post so much.
So why do I still get abuse on here.
Here is the real reason why they (the gang of 8) attack me.
Look at the posts over the last two days to see the insults and abuse against me.
He told me to shut up, stop posting. I didn't stop and so he turned very nasty posting insults and abuse.
Keep up with your mockery and abuse against me.
But I have had the last laugh at most of the arrogant bigots who attacked me.
He was one of the most insulting and abusive contributors on this board. I know, I was one of his victims.
My conclusion is this feller needs help, it come across he has a mental condition and i don't think investing or using these platforms is in his best interest, as he has not got the capacity to mentally deal with rejection or unwanted attention.
Noel, you are still a dick, but a dick who needs help and support, go find another hobby, perhaps gardening or knitting once recovered.
Good call NS. I can only dream of 49p now. You are a smart cookie
Noel you're a bitter little tyke aren'tcha! I get the impression you were teased in your youth and never quite got over it. There are channels for support, you know, that don't include roping everyone else into your insufferable drivel on a BB, for a share which you're supposedly not invested in (beyond the emotionally, obviously).
On 6th Sept 2023, ISAPENSION wrote - "I am not into playground name calling" - what a liar. By the way, this post was made long after I left the board so he wasn't talking to me.
He also wrote - "You could learn and grow up" - what a hypocrite. He obviously never did. He must have got into countless arguments after I left the board.
There was no one worse than him for name calling and dishing out insults and abuse.
Just look at all the so-called analysis on here. It's all specious drivel, worthless tripe from those who pretend to be knowledgeable and well informed.
I bailed out of CNR at about 49p. There was an opinion worth heeding, and all I got was abuse for telling you what was going to happen.
Whenever I need a laugh, I think of ISAPENSION.