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Up 2.92% at 35.25 p on volume of 227000 in first 10 minutes of trading.
Buying straight from the opening and full ask 35p just paid after several at 34.99p. Looking positive following the rise in Canada yesterday.
Surely news this week................!
I am using the date after the sanction as it is a great base to see how far Calibre and even Mako mining have raced ahead of Condor and really Condor has a lot of catching up to do. Condor is now half price for Calibre on a paper deal that it was when this process started. we have a lot of catching up to do and suspect tomorrow we will make a decent jump towards that correction. whatever date you pick over last few years calibre and Mako are both more than double and its hard to not find a miner that has not. bit like shooting fish in barrels. Time for Condor to start spreading its wings. hope your coping ok as you must be kicking yourself selling Condor last few months and investing in OMI as they have had a pretty torrid time. still time to double down on Condor and make up the difference before the RNS.
Clearly the volumes in Canada are low so we can’t set to much store by the trading there. However it is interesting to note the 3.17% rise in Canada today which converts to 38p. It will be interesting to see if the UK follows Canada’s lead tomorrow.
Be nice to breach £0.40p, Lord knows it’s been a challenge to date! GLA
Indeed around 39.6p would be nice to see 40p breeched this end
Nice little rise in the share price today in Toronto...
Pardon...
Rider, it's a bank holiday in the UK so the market is closed.
Is there any suspensiion today?
Plus the up front capex is likely to be much higher 6 years later after accounting for the huge inflation since then.
I think this is all good for Condor, our project may be smaller but it is arguably far more economical.
Well I suppose it's more profitable to dig up a tonne of rock if there is a decent amount of copper in as well as a bit of gold byproduct.
However I'm still astonished at those estimates given the tiny grade, they must have put it 10s of thousands of metres of drilling to get to a proven level of certainty of 5.5m ozs gold at 0.3g/t grade!! How much drilling have we put in just to get to 800koz @ 3g/t?!
Something going on there that I'm not getting clearly...
Nero, you could also argue that gold has gone up $1000 per Oz from the numbers used in the PEA.
Agree that it's good to see M&A hotting up. How much longer till this RNS drops!
Simms. You can’t offer sanctioned bottom of calibre as an example . I bought calibre at $1.25 a few years ago they are now around $2. In the meantime they have incorporated extra mines increased production and profitability and vastly increased their reserves . Similar with mako. Most producers are way off their 2020 /21 peak.
Constant sexing up of everything won’t make a jot of difference when the fat lady sings.
CF I thought it was positive for us.
However, that link you posted regarding the La Arena II project, the grades are tiny and they have 5.5m oz M&I with $600 AISC?! I'm no expert but they must have spent a fortune to drill up and prove that amount of gold at those grades! And $1.36 billion in up front capital?! Just seems crazy given inflation is only going to increase. Perhaps this is mainly a copper project.
Anyways, all this M&A activity is only good news for us. I think Jim is playing hard ball big time, he wants top dollar. We just have to wait and see if he can get it, but as the gold price remains at these levels and more deals are getting done, it's looking more and more likely!
The question playing on my mind is, How long did it take for them to sow up the deal from putting it up for sale?
I think £1 plus territory is possible but would need a bidding war.
18 months into the sales process...but then again maybe a good thing given the price of gold has surged in that timeframe.
For a start Calibre is 4x from point when Sleepy Joe mentioned some lame sanction on a Ortega associate and Nic caught a cold that day. Mako mining is 3x. Condor is a laggard at just over 2x. harder to not find any miner producing that has not doubled in time period.
Appreciate your thoughts Nero on this deal? Good? Bad?
The operating mine is set to produce approx 83-95,000 Oz gold this year with AISC around $1625.
They are also buying the La Arena II project, this is probably the main reason. NPV over $800m using gold at $1300. See the link.
https://www.newswire.ca/news-releases/tahoe-announces-results-of-la-arena-ii-preliminary-economic-assessment-674641073.html
Https://resourceworld.com/pan-american-sells-peru-gold-mine-for-us245-million-cash-upfront/
"Pan American Silver Corp. [PAAS-TSX, NASDAQ] said it has agreed to sell its 100% interest in La Arena SA, which owns the La Arena gold mine as well as the La Arena 11 project in Peru to Jinteng (Singapore) Mining Pte. Ltd., a subsidiary of Zijin Mining Group Co. Ltd. Pan American is selling the asset for US$245 million cash up front and a US$50 million contingent payment.
The La Arena property is located in the La Libertad province of Peru and is comprised of the La Arena gold mine and the La Arena 11 project. Since acquiring the mine from Tahoe Resources Inc. in 2019, Pan American said it has added 535,521 ounces of gold through exploration, and extended the mine life from 2021 to 2026, with the potential for a further expansion."
Err...!!!
That would feel like a lottery win Condorpilot, however I’m not holding my breath! GLA.
Any advance on £1.30 anyone . Come on slippery u know you want to;).
Simms, can you point me to the miners that you refer to that have doubled?
DDD
I normaly appreciated your comments very much
But your prediction of 55/65 is nonsense atm
We are in the beginning of a gold and silver market
I stay with my prediction of 130p
Gl all of you