Just been reading an article by Dominic Frisby about availability of physical gold, he says that all the gold refineries have shut down, the vast majority are in Switzerland near the north Italian border which between them refine about 1500 tonnes/yr, so even if producers are mining gold and producing the 'raw gold ingots' they cannot get them processed into 'pure gold ingots' anytime soon. Meanwhile, demand is growing which means the price is only going one way and soon.
With regards to what Condor are currently focussing on I would suspect it is mainly office based work which is more controllable and doesn't need material external resource logistics. With regards to Calibre, if they are unable to continue operations for a number of months it will affect their proposed income stream and possibly delay exploration to provide ore and income streams which could open up the argument for Condor to ship ore into the future.
Without any evidence to substantiate, having seen what Condor has provided for La India village previously on the social responsibility front, it wouldn't surprise me if the company is actively helping the village to try to control this epidemic, hopefully with temperature checks and advice on isolation where needed. As I say, this is what I hope Condor has done, we should be looking after what we hope will be our future workforce. Come on MC, prove me right.
I agree EL, big sellers offload 50k and 100k at a time and there is generally some big numbers appear after the close which isn't happening here, more likely 18p-20p buyers taking some profit while it's there which means the stock becomes more stable at these levels as for the new purchasers the profit is not there yet so I believe the sales will dry up but may be replaced by some 20p-25p buyers closing out at around 40p. Just my thoughts as usual.
The volume is only 7000 on TSX sofar but is holding up at C$0.58, I can only assume that, despite not producing yet, the increase in the price of gold and general collapse of all world markets or the news of Rio's interest in Nic has meant that the TSX market has rerated the stock more inline with others, who knows.
Nero, rather you be correct rather than me, he's hoping and looking forward to the next few days, my understanding is that there should be little difference between the two markets as per the rules so hopefully any rise on tsx will be reflected on lse.
MC in recently presentations has stated that toll mining is still an option so I'm sure that if Calibre is a 'no go' then MC will have a 'Plan B' for toll mining. Whilst some on the board don't rate MC very highly I believe that he and his team will guide us through this period successfully, if RothRock knows that Calibre is not for doing a deal then I'm sure MC will know, and yet he still says toll mining is an option, 'Plan B?'
Looks like the recent articles and MC's interview highlighting the timeline to possible income and declaration of trying to keep dilution as small as possible may have tipped the balance with investors. I still believe we are at too low a price to interest the Canadian market, if my memory serves we right MC stated that the main reason for the 20:1 consolidation years ago now was to get the share price above C$1 as only then would TSX investor take us seriously, sadly at the time of consolidation we weren't listed on TSX and when we did list the share price had dropped. Hopefully with upcoming news the share price can get close that level again and with the timeframe to income interest from potential international investors may give us a much needed additional rerating.
It would be interesting to know how many landowners we still have to make agreements with, is it 50 landowners who each own a cricket pitch or is it four or five who own larger areas. If I remember correctly from a previous RNS MC has substantially increased the legal team so hopefully we can make quick progress, it's not as if we are starting from the beginning in the negotiations with the remaining landowners, I'm hoping we are well down the road of agreement at this stage, here's hoping.
Again, Mystic Meg forecasting, but bullish on the gold price would do us no harm whatsoever in possible forward sales to part finance some form of mine, large or small, my preference would be large scale to get the ore out of the ground whilst the bull market in gold holds.
Just to break the monotony, I've just been reading Dominic Frisby, writing in Money Week daily update, giving his 20 market forecasts for the 2020's one of which is that gold will hit $5,000 before the end of the decade. Based on the fact that costs mining La India would not rise anywhere near inline with this prediction it would make a huge difference to our profitability and share price. Here's hoping he's as good as Mystic Meg.
Looks like the bargain hunters are back, some good buys today and the year ended without any large holders off-loading Condor so hopefully we'll start a bit of a recovery, some good news from MC would help though maybe on land purchases or permits. Here's hoping.
Trump imposes sanctions on any country who's name doesn't begin with the letters USA, far too many to mention at present with the list changing daily, either way CNR will just get on with what it is doing.
Tester, just trying to lighten the mood that's been on the board over the last week, I agree it's a good appointment now here's hoping MC gives us all a Christmas present with some real progress that will be recognised in the share price.