Member Info for AndrewFfoulkes

"What the miners say, based on their experience:.
Both at El chorriado and Mestiza we have gold from just below the 1m, no lots of gold, but enough gold to extract it.
Chorriado Vein is around 800mm wide and starts from 2 to 3 m of depth
At the Mestiza vein is almost 2m wide, and from between 5 to 6 m depth.
Gold strong
Keep the faith, we should go up soon."

"They are cleaning el Chorriado. Imho this means they expect to do a toll mining deal soon."

This would be part and parcel of Calibre due diligence. To be honest if we are talking 5m oz, there is no way they would truck it all, they'd build anyway.

Apparently there was a rumour some time ago that Calibre approached Regent Pacific Group in Hong Kong to attempt to go for a takeover, this was rebuffed by Mellon et al. No idea where this came from or if true but could add to reason why a toll deal hasn’t been done as yet as it may not be in Calibre interests (or at least that how they may see it short term).

pdp, I'm erring on the side of caution of course and assuming it's the translation, but if deals have been verbally agreed but still need the final nod and nothing has been signed off, it's not yet material. The market does not need to be told about every conversation or email that takes place in a negotiation, we already know finance is required and being discussed in the background.

mb54, funny I took almost the opposite view, when he stuttered his way through it I thought he almost said how we will do it rather than if we do it, corrected himself suddenly because that would have given the game away.

Lost in translation.....or not

"so far they have $50m for the construction"

So has it been agreed but not signed off yet? Very interesting (possibly).

https://www.laprensa.com.ni/2020/12/16/economia/2760762-nicaragua-se-encamina-a-concretar-la-segunda-minera-mas-grande-con-una-inversion-de-us50-millones-en-2021

An excellent and very detailed progress report from Mark.
It's crystal clear again in terms of production, decision made, smaller plant at 1500t/day, smiles again when talking about toll milling.

Guys, I'd sell now if you are concerned about further short term falls, it's highly unlikely we get a major strategic RNS before Xmas, possible but unlikely. If you feel that way and can't stomach the price moving down, sell out and come back later - if you dare :-)

I wonder what the chances are now of a strategic RNS before Xmas, I would say it is slim at best. On the plus side that would be a good start to 2021, on the minus side, some gains we've made in the last week or so may be lost to the exiting traders.

I have to say that Jibbo was at best disingenuous and at worst dishonest. He selectively ramped and deramped as it suited his strategy to invest and divest. I don't blame him he was evidently a trader and using others to assist his position. In some ways he was right to trade this share as it has gone nowhere for years albeit 'this time is different' :-)

That said, it really is old news, we should move on.

Still don't agree mb, I think sentiment would switch from those in the gold sector that can't make a profit, to those that can. We would also be of interest to buyers because we would add profitability in an M&A situation.

I echo that sentiment in regard to Gold price not being much more than an inconvenience to CNR, we are after all bottom quartiles of global AISC when in production. Whilst we may be affected very short term, in the big scheme of things it is almost an irrelevance as we'd still be on a huge profit. From recollection all our present numbers are worked on a $1250 price, so until we go below that, it matters not.

Your guess is as good as anyone else's but I'd say it is certainly one possibility.

A signed contract to toll would be material and require an RNS, if it's not signed but agreed that is sufficiently not material to hold off on an RNS.

"Update condor site developments:

1st- Information regarding Explotec (source: my main contact’s relatives).
Explotec has very recently rented a good house in Santa Cruz de La India for his employees. At the moment they have started doing some maintenance in the house, painting the inside, and putting some electrical cables.
Also, during the weekend Explotec has been visiting la India Pit to check where they will start with their work (controlled explosions to break the rock). They are planning to fence some land for their tools and maintenance activities.
Explotec machines are practically ready at El Limon. One of the machines has been receiving some maintenance. The explosive are distributed from el Limon to the different mines where they work.
They are not sure when they will start moving machines to La India, the believe it will be in January.

2nd-I have also asked if cnr is cleaning land above the vein. My contact answered an excavator appears to be cleaning some land in the Chorriado (I believe this is the end of the vein in our main pit), but due the presence of obstructions he does have details.

This week my main contact is in Managua doing some rotten timber replacement emergency work in his zinc house, his relative will keep us on the loop.

GLA
Book"

They’ve been unable to acquire shares by increasing the price, unable to do so by a wider spread so the next tactic is to frighten sellers with a drop.

nm

I've done something I don't generally do and mentioned CNR over at GGP. Hopefully wont be vilified for it, but perhaps it will raise awareness of the risk/reward opportunity presented by CNR to GGP investors who have interest.

I don't generally do this!

This is a purely self interested post and probably to be considered a ramp. Much debate has been had over at CNR about the relative merits of the two shares. I'm not going to do that, but for those wanting to add a little more risk/reward to their investment portfolio. Do take a look at CNR.

CNR plug over, sorry for the invasion.