Member Info for Cnutgoestheeasal

Finally sold out bar £500 which will enable me to attend the final AGM prior to liquidation/administration/delisting.

Can't say it's been fun but certainly I've learned lessons.

I had hoped that given the excellent grades at Kouroussa they could literally dig themselves out of the financial hole they got themselves. But it's clear they've really got themselves out of their depth (sorry at the metaphors) and I've seen how this plays out many times before with other companies.

If you're still holding then be prepared to either (a) a miracle (b) a sudden transition to mining competence (which really amounts to (a)) or (c) a near zero share price.

Can't say you haven't been warned

Yes and now future success is in their hands and they are masters of their own destiny and history shows that they've been rather good at what they do. Long may it continue

Yes got a load of AAZ on my wife's a/c from year's back at prices between 15-35 and recently bought a load more at 52p. Despite what has been said below this share is for holding and not trading. You only have to look at the average spread to see that.

Market frontrunning an official announcement of operations being recommenced methinks...

Let's see if MC can hold himself to his duties...

4. Shareholder Engagement

Communication: Engage with shareholders, addressing their questions and concerns during the AGM.

Transparency: Ensure transparency in reporting and discussing the company's performance and strategic plans.

What are the duties of directors of aim companies when holding the company's agm?

Was at another AGM today when Twin Hills mentioned. The company owning the project Osino Resources was been sold to chinese entity Yintai Gold for USD272m. The project had a mine life of 13+ years with annual production of 169,000 ozs. The average grades were lower but the resources higher than for CNR.

Anyway a deal was done and puts CNRs stuttering sales process in perspective.

Nothing new. Obviously written by a bot.

Put themselves up for sale today.

I wonder whether they'll still be in limbo in 18 months time with shareholders being continually treated to mushroom propagation methods.

I doubt it and no doubt corks will be popping there long before anything happens with the catatonic state of the CNR sales process.

I'm not even sure whether the Board are really conducting a meaningful sales process. What hard evidence have they produced that a real sales process is even taking place?

@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!

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...

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...

Looks like a positive move. Ghana is where the money is at at the moment and interesting to see they can finance the investment out of their own cash flow.

Hopefully, it won't impact the increasing willingness of other W African countries to allow material to be sent to Ghana.

I must say I am surprised at the muted response of the share price. After yesterday's 10% fall it's only up marginally. Basically permission granted now puts the company right back on track. Yes the company has bled cash but against that gold, copper and silver prices have substantially increased so in terms of future cash flow (greater cash flows from not digging the stuff out of the ground minus extra interest payments due) may be neutral or even net positive. Added to that the company have been developing the new mines apace and you have a solid argument for a 25-50% hike in the price.

It's clearly not happened so why? Perhaps I'm being to optimistic that the minor administrative tasks remaining are more substantial than the RNS is letting on or, that Mr Market, battered by underwhelming performance of junior miners is refusing to get out of bed.

Which is it? We'll see....

If a new government was set of nationalising assets you can probably forget about getting anything like the market rate or indeed anything at all.

What is in GDPs favour is that the facilities are really very small in SA in the grand scheme of things. Governments would go after the big P6, Cr and Fe mines. And even if they did it might do us a favour. The SA operating subsidiary hasn't exactly been mega profitable compared with Ghana and seems to take up much more management time

Everybody vote NO to every resolution on the AGM agenda. Once a year chance. Take it!

Slim - assuming they don't play silly :uggers by changing date/time/venue at the last minute like they did last year I'll be going too. Btw - I was the 3rd person at the Dec AGM meeting.

The AGMs coming up soon hopefully we'll get a little bit more detail on whether shortly in taking the biscuit (geddit?)