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.
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.
My understanding from what MC states is that Condor has the mineral rites to the land in question i.e. if Condor decided to sink a mine under the land then they could extract any gold there, what they now want to do is utilise the surface land as part of the process plant which means a new negotiation with the owners, obviously this takes a little time but with a third already purchased and the other s having offers on the table I expect movement in the coming weeks.
Presentation has been updated to state that they are still looking at early cash flow via toll mining with Calibre mining as they have spare capacity, based on this statement MC must still be in talks with Calibre re. toll mining and we will hear something soon hopefully.
Patience? We'll get Brexit before this re-rates, come on MC what happened to our 'game changing year'? Still a few weeks left I suppose. When I started with this share my grandson wanted me to buy him a Superman outfit, now he wants a car, at this rate if I have to wait for this to deliver I'll be buying my 'great' grandson a car.
There's one thing, Jim isn't looking at just doubling his money from here or averaging down, he obviously sees this as a big return on his investment and I don't think the way he has started to acquire more shares recently, on top of his already substantial holding, he thinks he will need to wait many years to see his return.
So that's why the share price didn't move beyond 23p last week despite all the buys, Jim had obviously struck a price for the full purchases. Hopefully the mm's let this go now. Another strong declaration by our main subscribers.
Whilst I, along with everyone else is, looking at the shareprice with a look of amazement based on the assets we have, I am amazed at what appears to be a belief that no small company has financed exploration through to production before and been successful for the shareholders. Yes we may see further dilution, yes we might see funds raised at prices we don't like but to get to the end game, full production , for new small companies, this is necessary. But in the long run, irrespective of the number of shares in circulation, it's what each share is worth is the measure. The way people are talking implies that it is impossible to move from exploration to production for a small company, it isn't, if you have the right supporters, which I believe we have, it may take time but if we do go to production then the rewards will be greater than a sale now, if an offer comes before then all well and good but ten years down the line when results are published by whoever own the company, I'll bet allot on here would wish they still held shares in this poorly performing company we call Condor Gold, sorry, five glass of wine rant and shareprice frustration.
Frenchie, my thoughts exactly, these merger agreements take time to develop and conclude, just think how long we have been in an NDA with B2 with no conclusion and the cost associated with providing data rooms etc. which I'm sure we wouldn't have agreed to if we new there was no prospect of a successful conclusion. As shareholders we don't know why we entered an NDA with B2, we do not know what we are potentially selling/buying/discussing, when will discussions will be concluded and many more company confidential questions because we are not allowed to know. That said, why, if B2 had the agreement with Calibre on the table, did they entered into a NDA with us, any sign-off of an agreement would need to with Calibre not B2, why not wait to see how the Calibre negotiations developed before negotiating a potential agreement with Condor. Unless we get a confirmation RNS within the next couple of days stating that our involvement with B2/ Calibre is now terminated due to recent developments then I would suggest we are 'in play' in some form or other, speculation as to what that means is for everyone to speculate. Again, this is just my opinion having watches the Lionesses fall short bravely as most English teams tend to do, no doubt others will have other views on the company developments, not the Lionesses that is, well done ladies.
The NDA with B2 is still in place so progress must be being made there, if I'm not mistaken MC has stated previously that he has had quotes from other companies to ship and process ore so to continue with the NDA and B2 must imply that something bigger than shipping ore is possibly on the cards..... the extension may be as a result of the discussions with B2, if they are seriously looking at purchasing the mine the build timeframe may not suit them as they are now in profit processing their low grade ore based on the price of gold today, it may be that MC doesn't want to build the mine and was hoping a sale would have been concluded by now, now that would be the 'game changing year' promised, altogether now...........'always look on the bright side of life da da, da da, da da da da da da'.
Interesting to see that the share price held up whilst the mms disposed of their overhang of the key investors sell-off last week and early this week whilst making a tidy profit only to drop the price over 8% on 100k worth of sales yesterday. I take it that the mms have cleared their books now before sweeping up more at rock bottom prices before going through the same process again.