Member Info for condor_forever

https://twitter.com/NorthstarCharts/status/1641185204222976002?t=7U1lUkb0Up-IVrwrcKyXRw&s=19

How about some comment on the video slim? My take on it is that they won't let it go for cheap. It's the first time MC has mentioned about the possibility of putting up a small scale plant (for a lower upfront capex of course). If no suitable offers come in, we could start with the higher grade from mestiza. Look at mako, they managed to do it with 500tpd.

Mention of a tsx listed company along with a Chinese gold miner, wonder if that is calibre/mako/first majestic.

Mako have just done a 10 to 1 share consolidation and up listed. They have reorganised their debt to a silver stream so they are effectively debt free. They are cleaning up their balance sheet. It might be so they can focus on increasing their own mill to 1000tpd and spend in exploration. Maybe they are interested in a merger/buying us. More I think, maybe mako will benefit from buying us more than calibre. They have minimal reserves and a small processing plant and only produced 36,000 oz last year.

True cambells, so at this current share price of calibre gives a value of $220m.

https://www.firstmajestic.com/investors/news-releases/first-majestic-temporarily-suspends-mining-activities-at-jerritt-canyon-20230320

Remember, first majestic knows about us. They spent a fair amount of money acquiring the jerritt canyon and now they are suspending operations as it's too expensive to run.

Yeah, tough one around whether we are too expensive for both calibre and mako. Let's not forget, b2gold were considering closing la libertad before they sold to Calibre. Maybe that price tag was too cheap/a steal for calibre. Remember, condor tried to buy those mines as well off b2gold. Mako would have to double their shares and some if they want to buy us. They have no cash. At least calibre have cash. However, I think they have enough organic growth, they've just released another RNS which has found pretty good grades at el limon.

It's promising calibre keep finding gold, shows how undeveloped and underexplored Nicaragua is and we are right in the golden corridoor. Shame we won't be round to reap the rewards of our decent land package.

Someone posted about amur last week. Similar situation. Sold it's assest for $35m and did a special dividend of 1.8p per share which equates to $30.5m. $4.5m left over, maybe covers costs etc.

Seingred, agree with your recent post. You could argue the other way and say calibre are massively undervalued.

I keep referring to mako. Single open pit, £92m market cap with only 36,000oz produced last year and minimal reserves. They have paid back most of their debt, they've got some streaming in place with sailfish and refinanced $6m of debt into a silver stream.

Tester, are you still about? Been a while since I've seen you post on here. Always appreciate your input along with others on here.

https://www.kitco.com/news/2023-03-14/Snowline-Gold-announces-strategic-investment-by-B2Gold.html

B2 have just bought 5% of snowline for a 100% premium of the share price.

Simms, rio is too big for us. Unless they buy calibre as well blwhich is unlikely and more complicated. They pulled out of nic already.

Better news than I expected. So good they released the RNS 3 times lol.

I'm not sure if they will be interested but at least they know about us. Similar size ish to zhaojin mining and have projects in Mexico (although some ongoing debates there, which to be honest, nic seems a more mining friendly jurisdiction).

First majestic bought the jerritt canyon mine for $470m in 2021 which was an already producing mine in nevada. They bought it to 'turn it around' but are still having issues. The mine only produced circa 64,000oz last year due to severe weather conditions in nevada. As a result, their AISC was $2745!

Sometimes goes to show that not all producing mines are profitable and although they already have the infrastructure in place, sometimes starting from scratch might be more beneficial.

H50 your link went to another of his tweets. Here is another if you've not seen it https://twitter.com/PaulHarrisGold/status/1631770047407325186?t=XfM5UaJqrCuKYe1xKlIfUg&s=19

They look like they fit the bill. Market cap of £3bn. On a separate note, mako just gone up 50% on news of refinancing some debt. They are looking to up list to the tsx and do a share consolidation to appeal to different funds. Calibre heading back up as well. Looks positive for the producers in nic.

Ah, so you are saying these filings are from older filings that are just now being processed?

https://ceo.ca/insiders/john-stalker

Ian stalker has just bought $50k at 22p ($0.365 I think cad not usd). MC has bought some more too, around 17p ish average.

Is anyone going to it?

The interesting bit is that sabina's FS had a post tax NPV 5% at $1.1bn CAD at $1600/oz. B2 bought them for $1.1bn CAD! Yes, you can argue the gold price is higher and they are in Canada and have a large resource but buying at that price is very interesting!

https://www.juniorminingnetwork.com/junior-miner-news/press-releases/743-tsx/bto/136043-b2gold-corp-announces-acquisition-of-sabina-gold-silver-corp.html

45% premium.

Mako have a mcap of £77m. They only produced 36,000oz last year with average AISC around $1200usd. They started producing without an FS and minimal reserves. They have a bit of debt left to pay. Simple calculations would say we could be valued at least twice of mako, technically 2.5 times. Our AISC will be lower and we have a much bigger reserve and resource. Mako are a reasonable comparison for once in production as they are single jurisdiction and in nic. They managed to go into production with no prior experience. I don't think debt is that much of an issue in valuing companies. Look at equinox mcap and their debt.