Firering Strategic Minerals: From explorer to producer. Watch the video here.
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Jt, when permits to construct were issued in summer 2018 they were for construction to commence within 18 months. Gvnt gave extension and then allowed some clearing to constitute start of construction even though we still describe the project as almost construction ready. I think nica gvnt probably have grounds to take action and certainly are devious enough to. Our previous significant holder lost his concession and has a far longer history in nica and with Ortega than mc.
In regards to sanctions, up till now Biden sanctions on the gold industry have not been implemented but can be at any point. Should be noted that trump was the first to initiate sanctions. Trumps selling point is anti immigration and nica has become a free flowing transit point for migrants heading to U.S. a Trump win may well worsen sanction situation.
Maybe they were just avoiding Dominic Frisby's calls and email as they don't like him!
Hey Surrey if you like I can send you an email every day containing the words "Still negotiating..." if it makes you feel better! 😆
Seriously though what's to say? If they're still negotiating then they're still negotiating, and it will take as long as it takes. If you believe that management are trying to get you, the shareholder, the best deal possible then that's fine right? If not, then you don't trust management so you sell out and move on.
There is a time limit on this process though, so it won't go on forever as they won't want to risk the support of the gov/locals. And it's important that no one knows what that time limit is otherwise it would be held against them in negotiations. Really, it's a question of who will break first, Condor on what they're willing to accept, or the other party on what they're willing to offer.
At that point MC/JM need to then decide whether to accept the best offer on the table or change strategy and commit to the build.
It's staggering how committed to a media blackout the company is.
They really are on the brink of definitive sale (woopeee!) or absolutely nothing.
The reasons for them battening down the hatches is literally binary at this stage.
Deal or No Deal.
Which is it?
From a sale!?
Started: Punter64, Today 09:11
Last post: Punter64, Today 09:11
19 months into the Proper Process and still nothing from Onion. You couldn't make this up. Well done Onion 👏👏👏👍
Started: Slimshady69, 18 Jun 2024 21:42
Last post: Slimshady69, 18 Jun 2024 21:42
£1250 traded all day what a disgrace
Barely covers onions money for nothing deal
Last post: condor_forever, 18 Jun 2024 10:44
Vermilion, what do you mean? The company has already released the annual report for the FY 2023.
*update
Condor's plan is to undate the market at the same time as the release of the FY 2023 results if not before.
AGM on the 28th.
Is there a date approaching where they’ll be forced to announce something so might tag on an update about the sale? Accounts or some such? TIA
Started: Slimshady69, 18 Jun 2024 07:39
Last post: BigManResearch, 18 Jun 2024 08:04
Slimshady,
You’re absolutely right Coconut won’t attend he knows the people will be there to talk to him. He is taking liberties with everyone. He’s been doing it for the last 16 years maybe 17 still nothing drawing his wages and drawing his shares complete joke.
Shares will probably end lower more Profit for the bankers, CEO, Honey, melon and friends
I reckon there be a no show at the agm by mark ,there be some other board member with mark on the tv link around the big table like last time Watch this space
Started: Cnutgoestheeasal, 17 Jun 2024 19:04
Last post: Cnutgoestheeasal, 17 Jun 2024 23:38
@Seingred - yes it's curious about that reserve figure. Mind you I dare not feed that back to ChatGPT or it will lower the estimate of the sale price and who knows who might be using it too. Potential buyers?
Haha - only kidding!
Cutn, curious where old ai got their 1.12 m oz gold reserve figure ?? 675 I believe. Think maybe they mixed up silver with gold perhaps. 🤔
In the what.....
IN THE WHAT!!!??
:D
Condor Gold (AIM: CNR, TSX: COG) has indeed been exploring strategic options, including a potential sale of the company. The valuation of Condor Gold in a sale would depend on several factors, including its current market capitalization, the value of its assets, particularly the La India project in Nicaragua, and the prevailing market conditions for gold and gold mining companies.
Factors Influencing Sale Price
Market Capitalization:
As of the latest available data, Condor Gold’s market capitalization is approximately £40 million ($50 million USD).
Asset Valuation:
La India Project: The La India project is the company's flagship asset with substantial gold reserves. The project has a robust feasibility study, showing an economically viable project with significant potential.
Reserves: The project boasts approximately 1.12 million ounces of gold in mineral reserves.
Net Present Value (NPV): According to the latest feasibility study, the NPV at a 5% discount rate and a gold price of $1,500 per ounce is estimated to be around $300 million.
Internal Rate of Return (IRR): The IRR is estimated to be approximately 23%.
Comparable Transactions:
Looking at recent acquisitions of similar gold mining projects and companies can provide a benchmark. Gold mining assets are often sold at a premium to their market capitalization, reflecting the value of the reserves, the potential for future production, and strategic value to the buyer.
Strategic Premium:
Companies up for sale often fetch a premium over their current market value, especially if multiple bidders are interested or if the asset holds strategic significance for the buyer.
Potential Sale Price Range
Given these factors, we can estimate a potential sale price for Condor Gold by considering the market capitalization, the NPV of the La India project, and potential acquisition premiums.
Base Market Capitalization: £40 million ($50 million USD).
NPV of La India Project: Approximately $300 million.
Potential Acquisition Premium: It is common for acquisitions to occur at a 20-50% premium over the current market capitalization for strategic assets.
Estimated Sale Price Calculation
Current Market Cap Plus Premium:
20% Premium: $50 million * 1.2 = $60 million
50% Premium: $50 million * 1.5 = $75 million
Considering NPV:
Given the NPV of the La India project is around $300 million, a buyer might be willing to pay closer to this value if they believe in the project's potential and feasibility.
Estimated Sale Price Range: Between $60 million and $300 million, with a more realistic range being around $100 million to $200 million, balancing the current market cap and the project's NPV.
Conclusion
The actual sale price of Condor Gold will ultimately depend on negotiations, the number of interested buyers, and the strategic value of its assets. Based on current valuations and typical acquisition premiums, a realistic estimate for Condor Gold's sale price could be in the
Given that getting any info out of onion is like getting blood out of a stone I thought I would consult an alternative source of wisdom namely ChatGPT.
The question I put was "I'm interested in condor gold as they are up for sale. What price are they likely to be sold for"
Make of the following answer what you will...
Started: citizenblue, 17 Jun 2024 12:44
Last post: Seingred, 17 Jun 2024 17:25
500k means off to the lighthouse toot sweet.
Lol
567= keep taking the pass out of long term holders a few more weeks
10=1000 Don’t let it run
Started: BobDNero, 17 Jun 2024 08:25
Last post: Simms45, 17 Jun 2024 14:59
Boots are being filled today so hopefully the last time before completion on the sale of La India or whatever else might be cooked up!
We drift down on low volume and down over 10p since we hit around 33p but the journey back up is a lot slower. Gotta be 45-60p of anyones money and could drop any day which is at least a double from todays price. Has 18 months been worth the wait??
Just a wee burst of Monday ‘just in case’ optimism I fear
Leaky, leaky?! Come on Onion, put us out of our misery.
Upps, what's going on?
Last post: Seingred, 17 Jun 2024 14:08
Arigato.
Sein- I think you are repeating yourself. (Not that there is necessarily anything wrong with that
Especially since they spent a similar ammount on a mill a couple of years previously.
Although you say everything points to a deal happening a former 10% holder has gone below the notifiable level. We have gone down to one possible buyer after 18 months and the sp is crashing. Not totally convincing. On the plus side mc has got his tax avoiding status and his opaque reward system clicking in at 60% below previous level is probably the most compelling fact if not overly great for holders with high averages.
Around £8 m has been raised and virtually spent since the sale process started 18 months ago and another raise likely imv this year.
I agree they should have pushed on towards production and been open to a sale . £8 m would have gone a decent way towards funding mine build that was alluded to.
You said it was sure to be in May Simms. I hope your analysis is more accurate this time
Started: Cnutgoestheeasal, 17 Jun 2024 12:21
Last post: Cnutgoestheeasal, 17 Jun 2024 12:21
The price will need to move by at least 15-20% before I sit up and pay attention. Just another shake of the tree as far as I'm concerned...
Started: citizenblue, 17 Jun 2024 11:20
Last post: Seingred, 17 Jun 2024 12:19
How about 10 😜
😂
2=200 I need shares badly but do not take the stock down
4=400 Keep trading it sideways
8=800 Prepare for an increase in trading volume
Started: Geng, 14 Jun 2024 09:21
Last post: Seingred, 15 Jun 2024 21:51
Geng,always best to have an open mind all ways round.
Good luck if you buy more . 20 p would be a good buy price imv.
Bitcoin miners are a v good trading op because of their direct relation to Bitcoin price . If Bitcoin takes a dive you know they are going to follow and the swings are frequent and fairly large. There is going to be consolidation in that sector . Hence terra and bitfarms recent tear.
Good luck
Broomtree : "Not sure I’d pay much heed to charts on this one!"
My charting has been right on this one - months ago(below 20p) I posted a chart with a target of 36p when we were nearly at 36p I said there may be a big breakout but if it doesn't break 36p then sell. Some of my trades were +100% profit as I bought between 15 and 20 so probably better than the sale completion premium on the current SP.
Buy, Add, Hold and pray for an RNS just doesn't work on AIM, it exists just to raise cash for owners and directors lifestyle funding. This makes it volatile and good for trading, so on the contrary this is exactly the type of stock to use charts on.
Is it sexist to call this man ipulation?
20 p Means I could buy 45% more shares for my cash and sell them at 80% profit again at 36 p. Make sense?
Eg sell 1000 at 36p gives £360 . buy back 20 p gives me 1800 shares . If sold at 36 p £648 I reckon? Of course you could just re buy the same ammount and bank the difference. 20 p still a way off yet but could be hit . 35-40 % is still good. And yes again 80% not lost more like 40% so far, poss 80% gain to same price from 20 p which is pretty decent and 100% if mc Brucie kicks in.
Punter, just testing but if I buy shares at 20 p 80% increase give 36 p yes. 100% gives 40 p. Agree the so hasn’t lost 80% but rebuy will gain 80% if reaches my previous sell out price. That’s the maths I like .
Started: Drumnatiny, 14 Jun 2024 17:58
Last post: Simms45, 15 Jun 2024 16:26
Issue is they have provided updates on number of advanced parties in discussion. However there is probably only so much they can divulge. At start process even MC was talking $100-$150m and this was before pog rocketed and miners have found themselves drowning in cash. They were clear on their price expectation early on so any suitor at the very least would have not even bothered investing considerable time and expense in due diligence. However does come a point when board needs to wrapup process and pull the trigger on one option. 18 months is more than enough time, even to have built this mine and ourselves would now be drowning in cash. The board have got to take the left or right fork in the road so everyone can move on. Hopefully monday RNS awaits :)
"To those, who on this chat..." Straw man. Don't think anyone is saying that.
"No Confidence". Maybe. Do some research on how to do it, and then do it. Don't expect anyone else to step up if you won't.
The Chairman, Manging Director, Finance Director and members of a board, which is listed on a Public Stockmarket, have a obligation by the Laws of Public Listed Companies, to update investors in the company. To those, who on this chat say we should not expect, AND not receive regular updates from the Board of the public company we have invested in, you must must be standing as candidates in this general election, as what you are claiming is absolute rubbish.
Is there a case for proposing a "No Confidence" motion at the AGM, because of Chairman and Managing Director's failure to update?
Started: Slimshady69, 15 Jun 2024 15:44
Last post: Slimshady69, 15 Jun 2024 15:44
I will be
At
The agm what’s going on is totally wrong ,,done by summer 15milloin oz nda this and that. Why remove someone’s post and where do you get the power ,if it’s wrong you have nothing to worry about After researching,there maybe some facts there which is concerning
Started: Drumnatiny, 15 Jun 2024 12:39
Last post: condor_forever, 15 Jun 2024 13:11
They have notified shareholders of the AGM. It is in the first paragraph of the RNS dated 17th May.
Should have also said that a group being presnt at AGM and voting against ALL board proposals would, I think, be quite a strong message to them.
"a public company within six months beginning with the day following its accounting reference date (section 336(1), companies act 2006 opens in a new window (ca 2006))."
"the ca 2006 does not specify what business must be transacted at an agm, nor are there any restrictions on business. usually the meeting is used for matters which must be dealt with each financial year, such as approval of share capital authorities, the re-election of directors, fixing the remuneration of auditors and consideration of the annual accounts (as defined in section 471, ca 2006). "
surreynot123, ****goestheeasal - i see that you seem to have some experience regarding last years agm and correspondance with the board just now, or grave lack of it! have you had any email replies from the board in last couple of weeks regarding questions you asked? will board members present at agm or will it be video link like last year?
if we had a repeat of last year, recording the meeting and lodging with the board and companies house (where plc have to follow law) and then calling for an egm at which "no confidence" is proposed? anyone knowledgable about how many shareholders it takes to make a to proposition at agm. from above you can see that there are "no restrictions" on business at the agm so board cannot refuse to hear motion.
i also from my stockbrokers file on condor, there is no announcement/notice of the agm and its date - i heard one of you mention a date and place: may i ask where you saw it?
reason is that they have to give notice of agm, and i can't find it. if i am accurate, another failing and support for "no confidence" motion.
finally can i ask if others would commit themselves to at agm if some above were lodged by shareholders.
looking forward, in hope!, to hearing from you.
Started: Drumnatiny, 15 Jun 2024 12:55
Last post: Drumnatiny, 15 Jun 2024 12:55
Apologies! Also meant to suggest that a motion reversing previous "No looking for Mine building/development", and Board researching Financing and Build, and reporting to Shareholders within 6 months. My reason: yes it we will have to sit with our assets for longer but I do believe we would also see far more fruit!
Started: Drumnatiny, 14 Jun 2024 22:41
Last post: ElectricLion, 15 Jun 2024 06:53
So do you propose to do something, anything, about the situation you find yourself in, or are you just blowing off steam? Eiher is fine by the way, understandable even. But when I have a problem I try to do something about it. I wouldn't describe myself as a man of action, but I like to think I don't sit around on my backside all day moaning about my situation when, with a little emotional, mental or physical effort, I could do something about it instead.
If you're sufficiently aggrieved you could find a way to take it to the company. Once someone starts the ball rolling, others will follow. But few have all the ingredients required (spare time, energy, sufficient motivation, intelluctual capacity, etc) to start something like that.
And that's why selling if you don't like it is such a powerful and elegant solution - it requires expending no further time, effort or money, leaving you free to do something else. If you have a better suggestion, I'm sure we'd be interested in hearing it, but right now it seems to me your just the "old man shouting at clouds" meme.
You stated:
"That does not absolve any of us from the consequences of our own decisions. If you've held out of some emotional attachment and not willing to just take the loss on the chin and move on, that's on you."
As share holders in a PLC we have a right regularly to receive information, especially when actions by Board Members are effecting the company, in the way that they are at Condor - it is the Legal Duty of Chairman, MDs to regularly update.
Last info we had was more than 6 months ago, and that was of little substance! We the shareholders a losing because of the Board Members not meeting duties/obligations within a PLC. They are not meeting legal requirements.
I should NOT have to be "willing to just take the loss on the chin and move on, that's on you" because of Board Members not carrying out duties.
Last post: Punter64, 14 Jun 2024 11:31
FFS get on with it man! When are you going to deign to tell us long suffering shareholders what is going on here?
Started: Bankside, 11 Jun 2024 21:18
Last post: Seingred, 13 Jun 2024 18:42
Punter. I been re-buying in small from 27p down. No not mine but have been adding . Things are a bit whiffy to me so not getting too deep back in but may take a bit of profit elsewhere and have a punt. Hovering near my average atm.
Have exited quite a bit of goldies last week and silver and heavier in crypto miners and American super conductors.
Surrey, there you have it, not interested in multibaggers
Just this offshore retirement fund that will give you a no bagger. 60-90 p let’s see ?
Terra wulf just done 90% in a month
. Don’t quite understand this ostrich method of investing but you are welcome as I am to your strategy. However some here may have benefited from not having such a closed attitude.
23 p is a great top up price if you think this is selling for 60-90 p , fill your boots guys. 20-30 p would be a pretty decent return if a deal transpires.
Seingred, was that 2700 trade you buying back in?!
Tbf seingred, about 20% of that post was value add, the rest fluff.
No-one here gives a toss about crypto.
Yep, with a very good memory you arrogant phoney
You still slithering about here Seingred? What a surprise.
Asking myself will I die of old age or boredom before this gets done? Difficulty is I’ve been here so long I’ve developed Stockholm Syndrome
Started: SurreyNot123, 13 Jun 2024 11:25
Last post: SurreyNot123, 13 Jun 2024 11:25
Weird.
S/he did make valid observations on Jim's leveraging of financial instruments to make sure he gets out with a profit.
Mark's bonus is absolutely abhorrent. How he'll have the stones to walk into a room with any PI after that is beyond me.
Geezer should have been sacked four years ago after he mistakenly bought an effing mill. It annoys me that they keep using is as some sort of USP or contributory factor to the shovel readiness of the project - the thing will have degraded so much by the time actual processing is requited it'll probably be replaced anyway.
Either way - I've emailed again this morning off the back off the 6% drop this morning vocalising my concerns. I've got no doubt I'll not hear a peep back but at this stage, eff them all for creating such an inhospitable environment for this sale to take place.
This is our company, and they done messed up big time.
But don't worry, Mark'll still be rewarded
Last post: ElectricLion, 13 Jun 2024 09:49
And it's gone. Interesting. Nothing to do with me, for the record.
Dry powder awaits another top up........getting cheaper for a great asset by the day. Chinese or ME?
Why?
I don't believe the buyer is Chinese
Yes i think there is only one buyer and that's the Chinese .
in the case of providence recourses they had a farm in from a the chinse
the check was in the post story went on for weeks they pulled out because the chinses government would not sanction the deal.
I think something similar is going on here , politics with Chinese's and the Niguarda government
i geuss we will have to wait and see
Started: Slimshady69, 12 Jun 2024 14:33
Last post: Slimshady69, 12 Jun 2024 14:33
The Chinese will buy us then next door and end up with the daddy of set ups
Last post: Joe75, 11 Jun 2024 19:24
Bert*
I do understand what you are saying Burt, but the darkest light is before the dawn and tomorrow is another day.
Probably lost interest!
Pretty much everything to say about the process has been said time and time again.
Every morning I look for a Rns, every morning there's nothing. I go to work and look again when I get home.
Losing faith that they will ever come up with a good price for share holders now.
Mark and Jim just keep bringing their averages down so they will no doubt walk away with a nice profit. As for the rest of us, I don't hold out much hope of a decent return.
A few weeks ago I was actually showing a profit, today I'm showing down £1300
I just wish they would put me out of my misery now so I can just move on.
Why is it so quiet on here?