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There is a late reported trade just after 6pm of 1000 shares at 32p. I hope that is an indication of where it’s going to open tomorrow !
I hope you are right but I doubt above 65 is realistic- unless it is a paper Calibre deal that was negotiated at an earlier time
Closing @ 30
65 to 90.
Watch this space
Really hope not. Rather hoping to focus on 40p but psychologically breaking 30p would put us into a good place but bid might well come before that and push to takeout price that could be low end 45p and high end 65p but we might know very shortly.
I think you’ve unwittingly put a curse on £0.30p Simmo! ;-)
Thought this would pop through 30p this morning but Condor share price has only so far tracked comparable rises to other gold stocks so really nothing yet priced in for impending take over price. Still plenty of upwards movement imho.
Bed the ISA
Yes low volumes point to a lack of leaked news, however interesting that the MMs are still pushing up the bid.
Fingers crossed this Calibre theory pans out soon...
Agreed Sakura7, I’m still incredulous about the lack of big buys, BWTFDIKA!
Volumes still very low
Hannam claimed to have had a really tough few months.
Wonder if that's because he's been working on concouding a deal with or for us?
This is going to pop, it seems people are taking some.pretty serious positions now (which also gets me thinking is there a small leak in the boat?).
Dome very systematic buys have gone through today.
So far this morning
it seems as if we are on the home stretch
Big week ahead I reckon
Up 2.7% at 28.5p. I can sell at that price but can’t get a live quote to buy on II at present.
We also need to think how much cash Calibre now have $60m gold forward sale, $100m placing, $160m cash in bank. They have access to debt so frankly Calibre are in a rude cash position. Valentine, as ryan said, is on budget and gold rally is going to increase that cash balance even faster. They could have $400m+ in a short time frame. Calibre will have only done all this if there was a plan as Valentine is on track and they had budgeted already for Valentine. gla
I mean they have 2.1m ounzes of gold resource and with 25k of drilling can take up to 3m. Obviously the resource across all land packages will easily surpasse 10m ounzes but whose counting but for Calibre looking to hit 500k ounzes a year asap to take full advantage of gold price explosion a canny buyer will pounce now while Condor are massively undervalued. Calibre run at 2 x cashflow, comparable in Canada is 8. Ryan believes part of that massive discount is Nicaragua and their under utilised mine and lack of resource to prove to market thet do not have future drain on growth. Adding Condor will completely change their Nic operation and as they have 15 quarters of growth market might push valuation of Calibre towards a bigger cashflow multiple. They will see a big rise in market cap over next 6 months if they can fully value their Nic assets and i think its pretty obvious how they might do it. Will they do it is a question of price. Calibre was always keen to buy Condor but at a very low price. This is why it is only a price matter and nothing else. Can Calibre meet Jim on an acceptable deal. Now Calibre paper is exploding its really now quite easy and Jim can save face by taking paper and some cash. who knows but what we do know is gold miners are back in vogue globally and have a long long way to go to get to a fair valuation.
DDD, don't forget the $60m USD gold prepayment they have agreed.
https://calibremining.com/news/calibre-enters-pre-commissioning-and-commissioning-8155/
They have already received $40m USD and the remaining $20m USD arrives 15th April. Is it just coincidence the timing of the prepayment and financing are both within a few days of each other?
Time will tell!
Speaking of gold, I heard hints of $2500 in spring and $3000 by the end of THIS year. Now that would be one for the history books if it happened. Even more interesting was the talk of $50 silver. Again, the drivers are FED actions on reducing interest rates and increasing geopolitical tensions - I've just read a Mail article on the effects of a 500kt nuclear weapon dropped on London. Not exactly reassuring when this sort of stuff is being rolled out: https://www.dailymail.co.uk/news/article-13271529/What-happens-nukes-start-fall-Interactive-graphic-shows-parts-London-instantly-vaporised-engulfed-deadly-radiation-survive-unscathed.html
Just be aware, for anyone who hasn't seen it, that the ($100m) '...Offering is expected to close on or about April 16, 2024 and is subject to Calibre receiving all necessary regulatory approvals.'
https://calibremining.com/news/calibre-mining-announces-c-100-million-bought-deal-8143/
IF it is Calibre in the frame they will wait until after April 16th to make any CNR announcement, hence my 17th - 26th guess. I also doubt they will use all the cash, given it will be needed for working capital. I could see $20 - $40m thrown in the pot with the rest being paper. At least that's what I would do if I were Calibre.
Of course it could still be someone entirely unexpected, the Chinese, or even a player no one has even guessed. Gold is on a roll and that will likely bring all sorts out of the woodwork.
Simms. Cnr have 600 k reserves not 2 m . Calibre have increased from 200k to 1.1 m oz in the time they have been there as well as what has been mined during that time. I imagine in the 2 years they would spend constructing la India they will likely add a whole heap more without the need to finance and build a mine. He states timescale for permits etc. also adding concessions. Holding calibre I would be happy to see it happen but am still sceptical and don’t see anything in this vid to change my mind on that one. Only a few weeks to see I guess. Meanwhile the market is working for goldies In general.
Wow. Just listen from 26mins. Ryan says investors want bigger reserves and he almost says they want a big jump in reserves in Nic that sounds it is undervalued because of the low reserves. They are investing $25m a year in drilling and will take $100m+ to add reserves. Why bother when you have 2m ready to roll and reading between the lines Ryan is basically saying they want to buy and speed up that process. We are well within 400km so it makes complete sense, always has been. Question from day 1 is price. Now Calibre are booming they can afford to pay the price Jim wants. Ryan also says Valentine is on budget so again this $100m could be just Calibre taking advantage of market timing but i am betting it is there to smooth over a possible deal with Condor. We will find out. If anything happens it should be this month and regardless Condor need to update from its December update that was last real update on sale. Very exciting and 30p seems almost trivial on monday.
The interviewer asks Ryan King as to how much more capital they will need to finish the project. RK answers by talking about various figures relating to the history of Valentine, etc. but doesn't actually give an answer to the question. Maybe he is hiding the fact that they have cash waiting for an acquisition.
The interviewer (maybe by prior agreement) doesn't ask about any possible acquisitions even though RK states that the mill in Nicaragua has spare capacity.
Recent video. Hard to say but looks like valentine is costing a bit and they are in discussions in the financing of the sprott debt of valentine. Nothing about M&A.
https://youtu.be/Ti1IPb8MaMY?si=jlPORqIhqg3hOlVh