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When I first bought CNR 4 or 5 years ago, I had watched a very convincing JM say gold going to $5000 and how could I not believe a self made billionaire?
I think everything has a market value based on supply and demand, and if the price gets too high, demand decreases and price falls, unless there really is supply shortage in extreme.Even like this, if its unaffordable for the masses or the market buyers, they look for cheaper alternatives or we have huge recession.
Commodities will rise in price, gold is getting harder to find, finds can be deeper underground and extraction and production costs more.
Oil is interesting, demand should decrease, but new oil will also be more expensive to produce. Copper will be very interesting.
Who knows, certainly not me given my AIM picks. Mining exploration is slow and tough and finding a commercial deposit and becoming a producer is even more difficult, and the hand of the private investor is always much weaker than directors and ceos.
My hope has always been a JV so we keep 50% and Calibre or someone puts up all the development capital. Maybe the Calibre cash might be used with this in mind so keeps some action for hard done pis. The profit now at Condor if it was digging up 100k ounces would be over $1300 an ounce or $130m. thats just 1 year at base case numbers. Everyday gold rises you start to worry we will be sold too cheaply at 2023 prices. Also must motivate buyer as since December we have risen a few hundred dollars in gold prices and that really changes the profits. I am expecting news before mid April.
Gold futures for the next 3 months is at £2295 so it’s warming up
Fair comment. I must admit to having lost a bit of patience in the last 2 - 3 months, and it does look like JM's heels in the ground have set us up for a strong exit price. Having said that, the spike in gold might now start to influence investor sentiment in the gold sector. That project finance that looked so difficult to obtain a year or so ago might now be a lot more achievable.
Could the BoD still swap horses at this late stage and pull out of negotiations to build a mine?
I'm groaning as I type but gold's recent bull does require a re-think.
Exhumed from KWN:
Graddhy out of Sweden: My minimum price targets for the commodities bull are still the same as in 2019:
Gold $10,000-$15,000
Silver $370
Oil $250-$300
(in today’s value)
This commodities bull is the opportunity of a lifetime.
https://kingworldnews.com/look-at-these-shocking-price-targets-for-gold-silver-plus-other-surprises/
In a nutshell, gold in 5 figures by 2036, almost as long as I've been in Condor.
What do people make of this? KWN pumping, or a real chance?
Discuss...
" On paper you might argue 100p, but in the deal world I think we remain a way off.
I don't think Jim has played the hardline over all these months for nothing, he knows what a fair value is taking everything into account, the gold bull run has just added to his exit value in my opinion.
The real losers were the companies taking the mick with unrealistic bids 8 months or so ago, now they need to reach deeper in their pockets to get the deal over the line.
A couple of weeks ago I had my flag pinned at 50p. With no announcement yet on a deal I feel bound to believe that gold's performance over that time is having an influence on the exit price for the assets. Perhaps another 10%, though I suppose value will be heavily influenced by the SP of an acquiring entity if that's the route we are going. If it is Calibre, and deal is primarily in paper, would we reap the benefits of any value increase Calibre might be experiencing due to the spiking PoG?
Meanwhile, as I type, gold is at an all time high of $2277 and still nudging upwards.
Notwithstanding the recent increase in the SP CNR is worth double where we are sitting tonight. I just hope that the deal reflects that. Anything above 100p is a nice thought, but even with the gold spike I just don't see us getting anywhere near. On paper you might argue 100p, but in the deal world I think we remain a way off.
Gold could close at an all time high tonight. Curiosity is getting the better of me.
Yes, I believe it may be. Whilst we’ve seen lots of strange sp moves over the years, this time is different as they say.
… for the £2 party!
Who wants a ticket?
Class395
Similar to a few on here LTH and it’s been a journey and a half. Let’s hope we are close and a deal that lets us all walk away with a few quid profit. I remember the days before consolidation. GLA
And a relatively low AISC will be attractive for buyers
Wow! It’s like the Jedi ghosts appearing. Welcome back
You are right. For the eastern world, sitting in US Treasurys carries not only risks attached to reckless overindebtness, but the risk of being deprived from their investments for political reasons. From the begining of the Russian - Ukraine war, this process (NB-s accumulation of gold) accelerated.
In fact it showed a high of $2276 at one point: https://goldprice.org/spot-gold.html
A half decent push and we could be at $2300.
We saw another spike to $2269 today; now settling around $2260. The market doesn't seem to know where resistance should be, and by my reckoning I don't think $2500 is impossible this year.
I dropped in on KWN earlier, after giving it a pass for the last few years. Not really anything new there. Greyerz is saying the same stuff he was saying 10/20 years ago. Not really untrue, but not really new either:
https://kingworldnews.com/greyerz-worlds-best-kept-investment-secret-is-on-a-tear/
My own view (influenced by a couple of others who appear ' in the know') is that central banks are slowly buying gold to replace their U.S. treasury holdings. With U.S. debt shooting up by a trillion USD every 100 days, I think they are spooked. It wouldn't do to bail quickly lest the markets get into turmoil mode; it's more of a slow exit for them. I think this is as much behind gold's move as any short term trading movements. And gold has got an enormous amount of catching up to do.
Knowing your sense of humour I thought you might have gone for '69'...
Don't get too excited. I was a counterpart to the major part of the shares today and I plainly have no judgment based on past performance in relation to this share
One and the same, they’ve mucked up the security on the old account so this is my old persona with a 99 tagged on 😂
A user name blast from the past. We must be close… jibbo anybody?!
I am actually starting to become a little excited. 15 years is a loooooong time!
Not to say that a deal with them is impossible.
Looking fairly strong here now and cannot see sub 25 p again, unless deal fails to materialise.
Simms, it is not a massive issue. They are constantly increasing their reserves. They already gone from 200 k to 1.1 m. Bringing more on stream and have constantly increased output. That’s exactly what the man said!
"Why 33p?"
Top of the long term descending trend.
Also let's not get too excited - plenty of people here severely underwater due to MC nad JM's lax approach to an acceptable timeframe.
I hope to f___ Hannam has been cut out of any dues whatsoever, here. Geezer is just constantly skiing and watching Hannam Junior run his half marathons. I honestly think he's just...retired!