Member Info for condor_forever

Video from this morning on YouTube:

https://m.youtube.com/watch?v=en8ZJ3NeRac&pp=ygUSbWV0YWxzIGV4cGxvcmF0aW9u

Cheers. Appreciate it. 👍

Hi all,

I won't be able to attend the talk tomorrow as I'll be working. Does anyone know if a recording will be available? A quick look on the platform suggests previous videos have been posted on the website. I've signed up just incase I get a link to the recording afterwards.

Appreciate any feedback from those attending. Thanks in advance.

The only reason to sell the SAG mill is if it isn't big enough for the run rate for 120,000oz per year that's been mentioned recently.

It was mentioned in the RNS about the loan as easy collateral against the loan or if calibre put an offer on the table that trumps MTL which is looking less likely at this present moment in time.

Https://ceo.ca/COG

Try this link and click on the link at the bottom dated 6th Dec 21:45.

Https://ceo.ca/content/sedar/COG-2024-12-06-news-release-english-74cf.pdf

I can't see a re-rate anytime soon.

Just trying to be realistic, take Mako mining for instance. In Nic, debt free, producing 40,000oz, has a 2nd asset in Guyana that will be up and running similar time to la India and that will produce 66,000oz with similar capex to la India. So around end 2026/2027 they will be producing the same amount as MTL with 2 assets in 2 jurisdictions. They will use their FCF from operations to fund their eagle mountain project in Guyana, like MTL will do for la India with their FCF from runruno.

I would say it is hard to a value on the earlier stage exploration targets that MTL have at this moment in time, it will take time to see that value. I'm happy to wait but just saying we need to be realistic.

Hi All,

Another lth of condor here, happy to see a competent company and BOD from the looks of it and hope for the best.

leehardcastle, you talk about MTL being cheap already. Not entirely sure about that given their situation with runruno running out Q1 2027, literally just over 2 years time. I hope adding mina la india sees an uplift in the sp but not overly convinced as we'll be literally producing a similar amount, well hopefully 100,000 to 120,000 once up and running.

Can you or anyone else here list any other small cap junior gold miners producing around 80-120,000 Oz for comparison given you think we (MTL) are undervalued?

Looks a done deal. Mark fails on the video to explain that our share price was much higher earlier in the year and it was basically their fault that our sp drifted so low.

I'm 99.9% sure calibre won't put a bid in now. If you look at their total capacity, they could fill that themselves. They have a 100,000m drill program in Nic and they have massive land concessions, absolutely massive which they'll be drilling on.

Question is, is it worth investing more whilst there is a current disconnect to the offer price. I think the 5.5p upside will happen on first gold pour. That would basically take me to break even.

Most likely Slim and to be honest, I've come to terms with the offer/conditions. I'm down a bit but I'll happily hold onto MTL shares. I'm in no rush for the funds.

What are your plans? Apart from the manhunt 😜.

Most recent video from calibre.

https://m.youtube.com/watch?v=VpwTmpmHyMo&pp=ygUOY2FsaWJyZSBtaW5pbmc%3D

Already fully funded for valentine, end Q3 has $100m Canadian ontop of being fully funded. Will aim to produce 70-80,000 Oz in Q4 with around $1000 per Oz profit.

Maybe I'm reading into it too much, but listen to around 22:40, Ryan talks about getting closer and closer to finding a multi million Oz deposit in Nic. Ok, could be their own drilling, but could imply our project.

So, calibre has spent £550m to acquire marathon gold and build the valentine project to produce 195,000oz a year and similar AISC as our project. That's right, £550m pounds!

They currently truck 3,000 tpd to their la libertad mine. From memory, our SAG mill was able to to 2,850 tpd and we were aiming around 100,000oz.

Calibre still have 1Mtpa spare capacity which would be 100% utilised by using our ore.

Totally different project. Their project is called the condor gold project. Our company is called condor gold. Totally seperate.

I disagree kkk. Calibre are currently fully funded to complete the rest of the costs. They could just use their current cash flow from now until fully constructed to pay the remaining costs of the build or simply issue equity which would only dilute them around 10-15%.

We are still under a confidentiality agreement with calibre.

Kkk, it'll be too late then. Calibre do not need to build a processing plant on site, so once the new company start breaking ground, it'll be pointless for calibre to buy it then and it'll cost them a hell of a lot more as we won't be a distressed seller anymore.

Surrey, where did you hear about the calibre offer being less than 35m?

Https://m.youtube.com/watch?v=-O5UOVAtpYw&pp=ygUSbWV0YWxzIGV4cGxvcmF0aW9u

I listened to this last night, a crux investor interview with metals exploration. It was 9 months ago but Darren comes across very well and has good experience in actual mining and running mining companies. Pretty sure he said he worked for Glencore in the past.

Barnard, I guess the price is only important once you actually sell those 4 shares.

Hindsight is a wonderful thing, but given this outcome, it would have been more sensible to do a toll deal ASAP, bring in actual COO with mine building experience and forward sell as much gold as possible.

One consolation is that MTL are relatively small so there could be room for a re-rate compared to a bigger company where our ounces would have been a smaller contribution to their profits/production etc.

My average is 38p. I think I'm going to stick it out with MTL.