Member Info for condor_forever

If you were to take the 5% post tax NPV of our PEA on the bigger option of including the underground resource etc, 0.33 NPV would give a shareprice of 74p. However, their jurisdiction is much better and they have a much bigger resource which would attract more investors.

Firstly, I've been invested here for over 10 years and I've never sold or traded (to my stupidity). I'm all for a higher shareprice don't get me wrong, but we have to be realistic.

Skeena resources recently published their FS on the 8th September. They are based in Canada. Slightly bigger resource, low AISC. 5% Post tax NPV CAD$1.4bn. They have a current market cap of CAD$470m, so they are trading at 0.33 NPV. They haven't announced any financial package yet and have a bigger capex to raise.

Slim, MC probably cancelled because he heard you were going lol.

Here is a recent company who have just completed financing. 24% equity, the rest gold stream/debt/cash on hand. Total cost around $461m and equity was $116m. They had a fairly big chunk of cash on hand as well.

https://www.juniorminingnetwork.com/junior-miner-news/press-releases/2960-tsx-venture/gmin/127505-g-mining-ventures-closes-us-116-million-private-placement-financing.html

Taken from the recent MD&A:

Subject to availability of funding, the Company has the option to resume additional exploration drill programmes with two principal objectives:

A Mineral Resource expansion drilling programme of approximately 30,000 metres and focusing on the Mestiza, America and La India vein sets and Cacao. The target of this drilling is to expand and upgrade the Mineral Resource on these four vein sets. The cost of this programme, including incremental Company operating costs would amount to approximately
US$7 million. The Company completed 15 diamond core drill holes for 3,504m of resource expansion drilling at Cacao during 2021.

An in-fill drilling programme of approximately 20,000 meters to be conducted on two to three potential feeder pits (e.g. America, Cacao and Central Breccia) with the intention of adding feeder pits into a mine plan early on in the mine life. The cost of this programme, including incremental Company operating costs would amount to approximately US$5 million.

Personally I feel we are too small for the likes of rio. I know every project is different but they just took out a company worth $6bn CAD.

https://www.juniorminingnetwork.com/junior-miner-news/press-releases/564-tsx/trq/127298-turquoise-hill-enters-into-definitive-agreements-with-rio-tinto.html

We are too small fry for them. First majestic on the other hand are an option, they are already invested in us for part payment of the SAG mill. If rio were interested, they would probably want to buy out calibre and us together.

Pretty sure there was a mention of $5m for the next 'round' of expansion drilling. Can't remember off the top of my head whether this would just be on cacao/America/mestiza. It is in the most recent managers discussion and analysis of you want to look it up.

FS delayed due to additional metallurgy tests that were required.

https://m.youtube.com/watch?v=7PGsgq_UoA8&feature=youtu.be

Not had chance to listen to it all but Mark mentions the BFS will be out in the next 10 days.

I've been reading a lot of rubbish over on advfn about the 0.4% remaining but of the land. Here is a recent tweet from Condor about this and how this 0.4% will not impact the next steps.

https://twitter.com/CondorGoldplc/status/1562123889806909441?t=7DAxrzD68kThkszczbQxQg&s=19

Agree seingred, just trying to find companies at a similar stage to us. Calibre look cheap.

Awax, yeah, I'm not comparing cnr to ggp, just saying we are massively undervalued. They only have 30% of the 6.5m though.

CCC, it's the market valuing the company based on the current shareprice. I would love it to rerate back to 50p post FS.

Agree that we are nearly 100% derisked which should see improved investor confidence. Sad thing is, daily trading has been rubbish for a long time now. Less than 20 trades a day. Look at wishbone yesterday, something like 200 daily trades.

On another note, GGP are valued at circa £500m and own 30% of 6.5m gold equivalent ounces which gives 1.95m oz. Ridiculously overpriced at present. If we are talking 7m oz here, I want MC to do his upmost to keep this project and get max debt and little equity.

Which option does he go for?

1) Sell once the FS study comes out but likely the sale price will not fully reflect the potential for the district.
2) Raise finance and risk further dilution.

Pros and cons to each. A buyer is unlikely to pay more than a 40% premium to the share price. I would hope the sp would move up as more interest is gained once the FS is released but recent experience of other FS studies being released suggests not. With such a detailed FS and strong gold price, maybe lenders would lend more for a better debt:equity split.

Some decent sized trades, interim results out tomorrow.

500 shares bought in one day, I'm sorry but that is not worth a mention. We already know liquidity is very low over there so there are big jumps up and down. It never relates to the price over here in the UK.

Cheers. Short and sweet. Let's hope all this extra work will appease the lenders for this project and therefore allow us to have a better debt:equity split.

https://www.juniorminingnetwork.com/junior-miner-news/press-releases/352-tsx/tv/125743-trevali-secures-credit-approval-for-110-million-senior-debt-facility-for-rosh-pinah-expansion-rp2-0.html

Market cap similar to ours. They have some producing zinc mines. They managed to agree 100% debt of $110m to fund the expansion of one of their zinc mines.

Come on Mark, get us a good deal. 60/40 is just not going to benefit us at all.

https://m.youtube.com/watch?v=P8MEKGKS4c4

YouTube financial fox TV and it's on her channel.