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Flip of a coin!
MC tight lipped and increased buying surely means a deal is is being finalised and news is imminent
If I may be so bold as to quote a small section of Dominic's article (do sign up for a week's trial and read the whole thing!):
"The acquisition of Condor has been on the cards for a long time, but, as I say, Mark is always quick to respond to texts, as all good promoters should be, if he senses potential coverage. He has been nudging me to write about Condor ever since we first met. But I messaged him a couple of days ago to see how things were progressing and, instead of the usual response, got a very curt, “I can’t comment on anything at the moment.” I emailed Jim asking if he had 10 minutes to chat about Condor and got a similar two-word reply, “Can’t Dominic”."
I would only say that it is indeed very uncharacteristic of MC to be completely "uncommunicative" (if that's the right word), so it does seem that "something" is happening! What that something is, and whether it will result in a binding offer, and if so how much that offer will be, are all up for debate.
I'm not sure how much weight I would put on Mr Frisby's advice. I like his articles but following his previous tips has got me into Andrada Mining (formerly Afritin, underwater) and Moneta Gold (deep underwater). Hope he's right this time, but not holding my breath.
Simms, don't forget the debt and further cost for the valentine project for calibre. Calibre have $84m USD end of 2023. $141m USD has already been spent on the valentine project so calibre have taken on that debt. There is another $236m USD to spend over the next 18 months. There was a financing deal with sprott but I think calibre want to pay some of this with their cash.
Https://ceo.ca/@akibaleisman dated 15th November.
Mako are not interested. Their CEO said it on another forum a few months back.
Simms. Personally think mako makes more sense than calibre but still expecting this to be steered china wards personally . That’s what the ministry is likely to want. Mc stated sale not jv but if needs must. Let’s see.
Steady buying all day today so pressure building nicely so surprised share price has not ticked up. Mako mining is digging up and finding more gold than it knows what to do with so even Mako could be a logical JV as they are generating good cash. Goes to show that Nicaragua is a very favourable gold mining juristiction as the cash generation of Calibre and Mako show foreign investors the way forward. https://www.streetinsider.com/Accesswire/Mako+Mining+Announces+Record+Q4+2023+Production+Results/22630135.html
Mario Massaging the sp me thinks
If i were Calibre i would toll this like crazy to pay the cost of building the mine and do it slowly. District is massive and Calibre have well over $100m in cash and probably $200m by eoy looking for a home. However i think Chinese will buy as strategically might suit Nic and china better. However someone from middle east might also have interest. I really hope we find out soon
I'm still torn as to whether calibre will buy us out. On one hand it makes total sense but then I can't see them building a processing plant onsite.
It would be a massive U-turn given the amount of work that has been done to win over the local community and the investment in building a processing plant.
One possibility is that if calibre also think there could be 5m + Oz and they are finding new resources, then there could come a time when they max out capacity at la libertad and they need more processing capacity, then a 3rd processing plant would be worthwhile. Or maybe they could just expand their current plants.
I am highly skeptical that someone brush off phone call and has come up with this scenario, however i will under severe frustration listen to anything plausible currently.
If it is Calibre, then just maybe the move will prompt 1 or 2 other companies lurking and thinking CNR will crack and accept a lowball offer.
Ha ha Nero 🤣. I was selling at 21 p for a small profit . Just reducing risk. Thankfully I don’t need 40s to break even. You never did let on what your average is 😜. Still holding just wanted to move a but somewhere else . Might be a mistake, who knows but not selling at a loss so not worried.
The fact that calibre is turning up great finds and has spare capacity doesn’t read they want to buy a project and spend $100 m building another mine. Oh well let’s see . Happy for some movement whatever prompts it to sell into though.
Thanks cf.
El, I just saw a post over on advfn stating his name and found his article by searching his name on twitter.
Nero, I'm not a subscriber to his stuff so can't post the full article.
Frisky is suggesting that the buyer could be Calibre and says it’s free to move as the Marathon deal has completed. Calibre has always been the most obvious bidder for CNR. It’s the next door mine so big economies of scale as it’s already got the management in place nearby and they could start moving material to their underutilise mill almost immediately. Calibre being so close know full well that Mark’s suggestion of a 10 million oz gold district is highly likely.
Look at this announcement from Calibre a couple of days ago:
“ Calibre Continues to Intercept Bonanza Grade Drill Results Along the Multi-Kilometre Panteon VTEM Gold Corridor at the Limon Mine Complex; Drilling Intersects Include 111.92 g/t Gold over 4.1 metres and 33.60 g/t Gold over 2.6 metres”
It would be crazy for Calibre not to buy Condor imho.
Good find @cf ..... very interesting
Oh wow I had no idea Dominic Frisby was a shareholder!! I listen to his Money, Markets and More podcast all the time! Can you post the whole article please CF?
Yea that's a deep cut! If it's any consolation, I have received similar feedback, and as such, am just being completely patient. As our late, significant investor would have said "current MCAP is completely irrelevant. Daily fluctuations are meaningless - everyone just needs to be patient".
This isn't a traditional value growth organisation any longer - it's the opportunity to get in on an asset sale, cheap. Therefore logically speaking if the sale price exceeds mcap - guess what happens to the price of your shares!
It's impossibly simple, the muddied by frustration.
I'm excited- as you should be.
Oh and by the way, my average is way above these levels. Big Investor's is much less, but he was and is still underwater at these levels, though in a much better position than I as he could average down at JM's 15p special price point.
Annoyingly for me, to the tune of about 5million shares.
How do you find these commentators cf? Any particular places you look or do you just read a lot?! Just curious.
Https://www.theflyingfrisby.com/p/decoding-a-cryptic-no-comment-is
Most likely the reason of some extra buys today. Just like when undervalued shares pumped us.
Well £100k of buys flooded in today so far. who knows but classically share price has hardly moved. I suspect tomorrow someone will sell £10 and we go down .75p or more based on past experience. Lets hope February is our month to see some benefit from the last 13 months of watching paint dry.
Nah just seingred buying back in after selling at a lower price! :D
We may have leak