Member Info for Aguila

MARENA is the Ministry that grants the environmental permit to construct and operate the mine. MARENA must have passed the technical aspects of the ESIA including the amendments and instructed Company to hold a Public Consultation today. The Company probably doesn't get a choice on the date. You can be absolutely sure the correct procedure under Nicaraguan law was followed as MC is meticulous on in this regard. Local press releases, technical studies filed in the alcaldias, due notice etc. The fact that is a PC at all means there is a green light from the Top. The scuffle looks minor by a group that protest against B2Gold and all mining

Agreed, political risk is not comparable. Note neither company has permits to construct and operate a mine. Gold sells at the same price regardless of the political risk. The investment question is: "Does Condor deserve to trade at a 75% discount to Dalradian?". Using the total measured, indicated and inferred resources:

Dalradian has 6.1M oz gold MI&I resource oz gold vs Condor's 2.5M oz gold

Dalradian trades at $50 per resource oz gold in the ground vs $12.6 per resource oz gold for Condor or 1% of today's gold price

Condor has raised US$45M in the last 7 to 8 years compared to market cap of US$30M.

The share price has already discount a significant amount of bad news. Contrarian investors should buy.

Dalradian's Indicated only resource is 3.06M oz gold or US$100 per oz gold in the ground based on acquisition price. this excludes any value for the Inferred resource

Condor's Indicated only resource is 1.08M oz gold or US$27 per oz gold in the ground based at current market cap. This excludes the 1.3M oz gold Inferred resource and 5M oz gold district potential and 3 other concessions

typo X2:
1) should read:"i think all the bad news is in the share price EXCEPT an expropriation of the asset"
2) Dalradian doesn't have an EXPLOITATION permit

On 12st July, I posted the valuation matrix for the takeover of Dalradian Resources. Only one other comment from Seingred who observed Ross Beaty is a shareholder of both Dalradian and Condor. Mr Beaty is the most successful mining entrepreneur and investor in Canada and only invests after extensive due diligence. Dr Warren Pratt who accessed La India Project for Mr Beaty is the senior geological consultant for Condor and has unlocked the 5M oz Gold District potential in the last 2 years. As a Condor shareholder, i think all the bad news is in the share price expect an expropriation of the asset. Dalradian was bought for US$308M EV, net of cash. Dalradian doesn't have an exploration permit. It has submitted a planning permit. An example of an exploration company being take over before a mining permit is granted.

Dalradian economic reserves 1.44M oz vs Condor's 675k oz gold. Dalradian reserve $214 per oz gold vs Condor $47per oz. Condor is valued at a 5th of Dalradian's take-over price on economic reserves only, excluding other indicated oz gold and all Inferred oz gold. Excluding all upside potential of La India Project as a major Gold District, Rio Luna and other concessions.

When the takeover goes through, some of the US$400M cash proceeds will be recycled by investors into the other exploration companies, the only high grade, UK incorporated, dual listed exploration company with 2.5M oz gold with a 5M oz potential is Condor Gold. it is dirt cheap and we know a final site visit has been conducted and the resettlement concern removed

see announcement. The key comment from B2Gold is that production in Nicaragua is likely to be down 5-10% in 2018 due to the political turmoil and importantly B2 supports constructive dialogue for a peaceful resolution and directly and indirectly employ 3,000 people. B2 is looking to expand El Limon mine due to a 800k oz gold resource announced in Feb 18:

"As a Canadian company, B2Gold believes in, and promotes, constructive dialogue for a peaceful resolution of the current political situation in Nicaragua. The Company's focus is to support its 3,000 direct and indirect employees, and their families, who have confirmed their desire to continue to work and maintain stability within their communities as much as possible.

B2Gold has been operating in Nicaragua since 2009 and, as a responsible mining company, continues to add value to the local communities and environment by generating sustainable socio-economic and environmental benefits.

Broker Comment: Dalradian Resources has been bid for by private equity group Orion Mine Finance. The C$1.47 per share offer is a 62% premium to the closing price and values the company at C$541m, with an EV of C$415 after cash that they hold. It seems that Orion was waiting for the latest resource update to make its move as the company upgraded in May to 3moz in M&I and another 3moz in Inferred with a decent bump in grades as well. The Curraghinalt deposit is a narrow-vein high grade deposit in Northern Ireland. Not the easiest place to build a gold mine, but the prospectivity looks fantastic and if it is mineable at anywhere near the new resource grade of 15g/t then Orion may have picked up a bargain. A feasibility study is looking at a 130koz mine @ $674/oz AISC and I suspect that the grade increase will mean that this could improve. The top of the shareholder register is packed with gold and resource funds, and the offer price is less than the share price was in 2017, so I wouldn’t be surprised if the bid is declined.

Two important developments, which point to a way forward for new elections in 12 months: Roberto Rivas resigns as president of the Nicaraguan Electoral Council: The president of the Supreme Electoral Council (CSE), Roberto Rivas Reyes, resigned to his position. The information was spread by a joint statement from the Nicaraguan Government and the Organization of American States (OAS), a continental organization "which continues to work to strengthen the institutionality, in the country, "according to the statement.https://www.elnuevodiario.com.ni/nacionales/466059-roberto-rivas-renuncia-poder-electoral/ Following the November 2017 Presidential Elections the OAS recommended electoral reforms, Friday the Government agreed to implement the reforms staring today, Monday with delivery in January 2019. This paves the way for new, free and fair elections overseen by the OAS (read the USA) http://www.oas.org/en/media_center/press_release.asp?sCodigo=E-034/18

M&A to increase Gold Production On The Cusp Of Peaking 05/29/2018 Authored by Tom Lewis via GoldTelegraph.com, Gold is valuable because it is a finite resource. What happens when all available gold is mined and processed? There is still abundant gold deep within the earth, but it has not yet been found. Mining companies are unable, to dig deep enough. It is difficult for them to know where to locate this deep gold. All known locations have been depleting for years. That is the reason mining gold has become more difficult and output is expected to begin decreasing steadily. The precious metal is becoming harder to find. Most of the world�s gold was mined before the 1848 Gold Rush era. Since 1950, 125,000 tons of gold has been processed, which is approximately two-thirds of all gold ever mined. All of the gold that could be accessed easily has been mined. Gold cannot be manufactured or created. It can only be mined from the earth�s crust. If we want more gold, companies, and investors will need to begin allocating more capital to exploration companies. According Eugene King of Goldman Sachs, known mineable gold reserve may be gone in 20 years. The definitive word here is �known.� Gold mining companies are gearing up for a new era of exploration deeper below the surface than ever before. This means these companies will be incurring new costs at the same time their profits are decreasing. That is the reason why so few new mines are being excavated and few new projects are being started. The earth�s easy-to-find gold has already been found and mined. There will not be another California Gold Rush. The search for new gold becomes increasingly challenging and expensive each year. Outdated equipment and technology need to be replaced. To add to the problem, the lead time between discovery and production of a new gold deposit is 20 years. Much of this is due to jurisdictional, local policies. Global reforms could remove many of the current obstructions. Mining companies are looking for new sources while using new technology, but many are folding due to the expense involved. If this trend continues, the finite nature of gold will ensure its price skyrockets. Ian Telfer,Chairman of Goldcorp., indicates we have reached �peak gold� as he states, �We�ve found it all.� He anticipates future gold production to be lower than in the past. He sees all future gold mining as going as a downhill venture. Mr. Telfer believes there is a good possibility that all major sources of gold have already been found and mined. New grades being extracted are declining in value. He predicts this situation could drive the price of gold up to $1,600 by the end of the year from its current price of around $1,300. In 2015, Goldcorp. produced 3.4 million ounces of gold. In 2016, the amount fell to 2.8 million. In 2017, its gold production fell to 2.5 million ounces.

Bezzell, as mentioned before you should contact Mark Child, mchild@condorgold.com to check your facts before posting. You always slam the Company, which in turn hurts sentiment and confidence, which in turn damages my and others shareholdings. I have checked your comments with MC. His reply: Given the social unrest in Nicaragua, it is prudent for the Company to conserve cash. 21 people were laid off last week (not over 30 staff), mainly in the geology/field staff and admin department. There remain 43 on the pay roll plus security. Carlos Pullinger is retained as a consultant on reduced days, he has not been fired. Dr Warren Pratt, currently in Nicaragua, has been the brilliant geologist who has unlocked the District Scale potential, remains on 100 days a year. Armando, the senior Nicaraguan geologist remains plus 4 fiscals and senior field staff. There are sufficient geology personnel to keep rock chip sampling an geological mapping. The social team of 15 people, which has been strengthen by people hiring from B2 in the last 3 months, remains in place....Condor is a permitting company in the short term, the focus is permits and that requires a social licence. Mr Market isn't interested in drill results and hasn't been for months e.g ignoring the excellent drill assay on Tatiana. Permits. you've ignore the RNS this week. Final site inspection 13th March by 3 Ministries: MARENA, MEM, INAFOR. After the shootings MC met with MEM and MARENA on 2nd May. Why would the Government take a meeting after the shootings it it doesn't want progress? Additional questions following the site visit to be submitted to MARENA by 31st May 2018. Once all questions are satisfied, there should be a technical sign off.

B2Gold's 1st quarter results last week were silent on the civil unrest, mass demonstrations and around 50 dead 3 weeks ago. Miners and explorers can't become political commentators. They must remain politically neutral. Of course they are committed. No one knows which way this will go. Ortega has lost the confidence of the people, business and most sections of society. There will be a political price of the deaths. Let's hope they manage a smooth transition of power. Gold producers operate in many countries round the world with political risk

Itsaduster, for some reason you are completely against the Company, i have re-read your posts they are entirely negative. What is your agenda? anti mining NGO, annoyed you didn't get a consultancy contract? The shares are up 20% since you *****ed about the placement, the Company is funded for 12 months, final site inspection taken place by MEM, MARENA. Like many shareholders, i contact the Company if i have a concern and buy and large get a reasonable response. MC says you haven't contacted him. if you are serious, send an email to mchild@condorgold.com. Otherwise, you have zero credibility making untrue and false comments, continually moaning. Get a life

Looks like tax losses crystallised in the last tax year to offset gains elsewhere. Should mark the bottom of the share price. Master Investor interview: https://youtu.be/fAJnUUfu4RI 1) Met the Minister and President's son....only happens is they are going to permit!! 2) British Ambassador met the Minister. okay now it is Government to Government 3) World Bank/IFC arrange meeting with Minister of Finance, get will get the maths of a US$120M investment, 500 jobs 4) Redesigned mine plan for no resettlement. removes political risk in granting permits 5) Final site inspection by 3 Ministries ......only happens if they are going to permit 6) Take core area for 3M oz gold with 20,000m drilling. this will happen in parallel with 12 months of technical studies to take from PFS to FS 7) scoping study reveals 2m oz recovered gold if 3M oz gold target reach. 200k oz production pa for 10 years? production to double...major catalyst. 7) 5M oz Gold District, much closer. He says: soil geochemistry, structural model, helicopter geophysics, geological mapping 8) quarter of the valuation of TSX peer group 9) �2.5M placement, means funded for 12 months

NoEasy, are you in touch with the Company to ask a question rather than jump to conclusions and create negative sentiment for your shareholding? Several posters here are in touch, myself included. Regarding the question you have asked yourself. A �600,000 investment is hardly going to be from an "altruistic friend", even Jim Mellon only put in �250,000, surely the �600,000 is an institutional investor? some funds can't take unquoted warrants, the articles of some funds prevent investments in anything unquoted/unlisted. The institutional investor sells the unquoted warrant in order to make it possible for them to invest the �600,000. MC makes zero, until the shares are up 50% or above 65pence, and then he has to pay up around �450,000, which goes into the Company for work working capital. This is a sign a confidence

itsaduster, what possess you to write inaccurate information? what is your agenda? everyone is fed up with a delay in permits, but at least keep your information accurate. Try sticking to the facts. See recent announcements and interviews. Company is on record as saying: 1) it is an amendment to the EIA, a 20% to 25% smaller pit to avoid resettlement 2) the company has worked with the Minstries to make the amendments. There was a series of meetings with the technicians at the Ministries before the amendments to the EIA were formally submitted. That is totally normal in any permitting process. It isn't submitted blind. 3) the Company has meet the Minister of Energy and Mines recently and has had very productive meetings with the Government who want a mine. 4) 500 jobs in the mine. average wage is $700 verses the national average of $200. 5) the poverty level according to a United Nations index is 40%. A mine can reduce this by 75%. Pretty obvious why they want the mine. in my view: 1) The technical changes in the EIA have already been approved, otherwise the Company wouldn't even announce the changes, why bother if a new plan isn't going to work? 2) it is now a matter of political will, for the Presidency to approve the Project

A new financial PR firm, Blytheweigh Communications, specialise in mining https://www.blytheweigh.com/ was appointed last year. No doubt paid a healthy monthly retainer to get financial PR and there should be a rolling PR campaign. There has been a noticeable improvement with interviews on Vox Markets, Blytheweigh Show, Commodity TV, Mining weekly etc. The problem is the market is feed up of waiting for permits. it is not interested in drill results as others have pointed out. It is saying: "show me the permits and then i'll buy." even when the pit has been redesign to avoid resettlement and the Company is meeting Ministers.

The presentation at the Master Investor Conference was positive. There was a clear message that the amended EIA, announced only a month ago, was pre-approved by the Government. Don't forget the EIA was submitted 2 years ago, there appears to have been constant dialogue between the company and ministries. Can't see Condor submitted an amendment without having a series of meetings with the Ministries to pre-agree the amendments. I agree with others, permits are weeks away not months. The red flag on resettlement has been removed. the Country needs a US$120M investment, the US$60M of economic value added the mine gives the Country every year (see PDAC presentation). it's embarrassing for the Government to have these delays when the World bank is a shareholder and they tell everyone they are "mining friendly" at PDAC. the whingers on this BB should realise they are creating negative sentiment and deterring other investors and hurting their own shareholdings.

Goneawol, the key point here is that the 85 artisanal miners working on Mestiza sign an agreement and pay no access charge as the land is held by Condor. This is really appreciated as it is more money into the pockets of the artisanal miners. "freehold land" owned by other people charge artisanal miners an access fee to extract ore. Condor also provides free equipment, pick axes and health and safety equipment etc.

non-financing long form prospectus for TSX must have 12 months working capital

The 130 page amended EIA was worked on for months in conjunction with the technicians at each Ministry before being submitted. This means MARENA and MEM should have no further questions as they pre-approved the final submission. It is therefore simply up to the Presidency to approve the Project. Could happen in weeks, but its a political decision. (another piece of Bezzel mis-information saying discussions will MEM and MARENA will take months and months to approve the technical side.)