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I think they have until the end of June to publish the 2023 Annual report, 6 months from the year end.
PoG is down $50 from its high today, an inevitable correction. It remains to be seen if it's the end of it but I'm keeping my gold ETF powder dry for the time being, until it's clear.
Https://m.youtube.com/watch?v=qobUwba0uIQ
Good listen around M&A action in the mining sector. I do wonder whether the sudden rise in POG will put more pressure on the buyer to do a deal quicker before the value of our asset gets more and more profitable.
Needs some actual news to stay above 30p. Otherwise it will bounce back down. Sentiment can only go so far.
Boredom has set in again....
Yahoo have reverted to 'Earnings in three days' today. Whatever the case the Annual Reports need to be released by the end of April. I don't think they will wait that long. I'm not particularly interested in last year's financials, other than the fact that something will have to be said about the sale\negotiation process. It's kind of the only thing anyone is interested in.
The mind boggles when thinking about how much the value of Condor's gold in the ground has increased. I've got to believe the the NPV of the proven stuff has to be close to a billion by now. This rapid increase in PoG may well be causing some negotiating issues, especially if the asset exit formula is tied in to PoG.
Meanwhile, we'll see how the U.S. market deals with $2400 gold this afternoon. $2500 anyone?
Therese those random single digit trades again. Not that i believe if any of that voodoo.
The cynic in me says an artificial SP pump would do give us a good baseline for a takeover at X premium.
Agreed frenchie, high time Onion gave us an update now. When I joked a while back that he was waiting for April fool's day I never imagined that we'd still be waiting. Thank Christ gold has been going up in the meantime!
Slippery - lost me completely with that one 😂 if we don’t have news of some sort by months end I think it will drift down, sense a lot of expectation
If 3 is 300 and 6 is 600....
1. 100 - I need Shares.
2. 200 - I need Shares badly but do not take the stock down.
3. 300 - Take (or I am taking) the stock down at least 30% so I can load shares.
4. 400 - Keep trading it sideways.
5. 500 - Gap the stock. Gap can be up or down, depending on direction of 500 signal.
6. 505 - I am short on shares
7. 600 - Apply resistance at the ASK to keep the price from increasing.
8. 700 - Move the price up.
9. 777 - Also recognized as a signal to move the price up.
10. 800 - Prepare for an increase in trading volume.
11. 900 - Allow the stock to float and trade freely.
12. 911 - Pending News/Press Release On The Way
13. 1000 - Don't let it run
14. 2100 - Let it run
Sorry guys it means diddly squat if we haven’t got a buyer. I believe we are well overdue an update on the sales process . I.e how many NDA’s are still in place, how many non binding offers have we had to date and when we can expect an end to the sales process. We have been left in the dark for too long.
CF not only that but the FS used recent inflation-adjusted costs so recent cost increases are basically "priced in". Makes a big difference as some gold operators are seeing costs rising faster than the gold price.
Even better are the numbers from the PEA in 2021 based on 150,000 Oz per annum including the feeder pits. At $2,200 gold, the NPV is USD$769m and 87% IRR.
As Gold reaches another All Time High let’s just revisit the value of Condors Gold as set out in this summary of the BFS in September 2022 and is the basis for the current sale process:
“ The Company's strategy has been to develop the fully permitted La India Project in 2 stages using the new SAG Mill that has already been purchased. The delivery of a Feasibility Study on La India open pit with an average of 81,524 oz gold per annum for the initial 6 years for a relatively low total upfront capital cost of US$106 Million is a landmark and further de-risks the Project. At US$1,600 oz gold, the La India open pit Mineral Reserve produces total revenues of US$888 Million, the total operating costs of mining, process and G&A are US$480M, leading to an operating profit of US$408 Million or a 46% operating margin. After government and other royalties, but before sustaining capital, the operating profit is US$355M, which in Condor's opinion is ample to repay any project debt on the relatively low upfront capex. At US$2,000 oz gold after paying royalties, but before sustaining capital the operating profit is US$563 Million. In reality, two permitted high grade feeder pits will be added during the early years of production thus increasing production ounces of gold. Early production is targeted at 100,000 oz gold p.a..”
The highest Gold price used was 2000 and gold is now in touching distance of 2400 and the futures moved above 2400. That additional $400 per oz is all profit which must make CNR a very attractive prospect at an ever increasing price.
Gold price is a factor I'm sure, but the main reason for a higher market price for Condor is by having a bidding war between 2 or 3 bidders. I've no idea if that is happening.
Gold also looks overbought if interest rates are staying higher for longer. But then again if Iran and Israel end up in a war, it will go higher regardless.
I think 50p to 65p is realistic without a bidding war.
Connect. We hit the 30p target and expect to move towards 40p, if we are not bought later this month. I expect Calibre investors to start paying attention as if they have any inkling we get an all paper deal it would make sense to some to switch from Calibre into Condor as they might well end up raising their stake in Calibre. Gold is flying and Condor is barely keeping up. Something has got to give.
Gold futures at $2390.
Not an effing chance after 14+ years. With gold on a roll (I now reckon JM is watching it as closely as we are) it would be snatching defeat from the jaws of victory. I still think there is 20p in it, possibly more if gold maintains its current momentum, and we end up with 2/3rds Calibre paper.
Testing who’s happy to sell at Milestone 30?
You can always rely on KWN to fan the flames. However, in this case they are only repeating what other gold watchers are starting to say. Some perch themselves at 10% above $2350 ($2575), while others (including Sprott) think 25% might be attainable ($2938). As ever the timeframe for achieving these levels is murky, albeit one or two have stuck their neck out by suggesting 2025.
Always entertaining though often repetitive:
https://kingworldnews.com/sprott-how-high-will-the-gold-price-soar-after-historic-breakout/
Yahoo still clung on to 'Earnings Today' despite evidence to the contrary. As per usual no one has a clue when the next piece of news will drop.
Didn't fancy $2350 - bigger fish to fry.
I'm quite shocked at how fast this is moving. At this rate we could see an assault on $2400 this week. That $3000 (within a year) I saw suggested last week no longer looks as unattainable as as it might have seemed a month ago.
Today we had all sells and no movement in shareprice. For this volume If you did that 3 months ago the shareprice would have tanked. Today its almost the opposite. Looking very strong.
Bless Simms45, his prediction history is rather horrendous to be fair! ;-)