Member Info for condor_forever

https://www.juniorminingnetwork.com/junior-miner-news/press-releases/2960-tsx-venture/gmin/124925-g-mining-ventures-announces-us-481-million-financing-package-for-tocantinzinho-gold-project.html

From a quick calculation, only 24% equity at $CAD 0.80 whilst the share price is at 0.73 and trading below this for quite some time. Their market cap is currently CAD 188m and they managed to raise in total around $usd 481 which bodes well for us.

Out Q3.

https://twitter.com/CondorGoldplc/status/1549431628434374657?t=5ge6nHIq00v_0iYx3glsWg&s=19

All this talk about not owning all the land is ridiculous. Do shareholders really think we can't go ahead because of a couple of %. I'm sorry, but why would we spend $10m on a bfs and $6.5m on a sag mill. The last couple of percent will not impact financing the project, we have access to enough gold already to pay back the debt comfortably.

Seingred, unfortunately I can't disclose what he has said. There's obviously only so much he can say.

Just wondering, does anyone else on this BB have direct comms with MC?

I get where you are coming from EL, he obviously doesn't disclose sensitive information, however he does do his best to answer my questions. Often a lot of what he does say is helpful in making me understand certain aspects of the situation, like why the bfs is delayed etc.

EL, have you emailed MC recently? I had some correspondence around May time and without going into too much detail, he does tend to reply promptly and honestly and I applaud that considering that I am just a small PI.

Yeah, this drill program is not new as ICB stated on the RNS dated last year. 3500m was completed last year yet we are still waiting to hear about 1500m of drilling. Are they trying to cherry pick their spots to get the best out of the last 1500m. Did we not have to money? If you plan a 5000m drill program over a year ago, would you expect to have the money to pay for it at the time of signing the contract?

EL, I'm all for getting the best price possible here. Unfortunately with the current market and our sp, I just can't see selling the company now as being a wise choice. Yes, we could have 5m+ oz, but even a 100% from here only gives us 50p. We've not seen a decent sustained rally for over a year now.

What we need is a good debt/equity split, like rio2 of 85/15. 60/40 debt to equity is just not good enough and will destroy us with dilution. We are already at 160m, even at 15% equity gives around £18-20m and at 25p let's say, that adds 80m shares and takes us to 240m ish shares.

We probably need to put a lot more drilling on cacao to get a reasonable reserve. We've only 1500m left of drilling which won't take us far if the resource is 100-200m below ground.

https://twitter.com/CondorGoldplc/status/1544355436714926082?t=875TmAFElbzKfMxv2VyHag&s=19

This is new news. Assume some of the £3m raised has gone into further drilling at Cacao? Would have been nice to have mentioned that in the RNS related to the latest fundraise if this is the case.

https://alexcoresource.com/news/hecla-acquires-alexco-resource/

23% premium. With our sp so depressed, it would be foolish to be looking for a buyer. 23% premium gives up 31p here.

https://www.rio2.com/post/rio2-s-fenix-gold-project-eia-is-not-approved

EIA not approved for rio. Share price dropped another 40%+. So important to have everything in place like Mark has done. Just need the finance arranged and then we are 100% derisked.

Mako's AISC is $1100. I guess this is higher than expected partly due to the need to spread all costs that are involved in AISC across only 36,000oz and general increases in costs due to inflation etc.

Although imo they are overvalued, they are still a good comparison given they have a single asset in nic. Their market cap is £112m. Once we are in production, I would expect our market cap to be higher than this.

https://makominingcorp.com/news/index.php?content_id=290

They produced 36,000oz in their first year, average grade 7.5g/t blending their 16.5g/t with their stockpile.

https://www.lse.co.uk/rns/MKA/mkango-announces-results-of-dfs-for-songwe-hill-3nlbsfhzrnjyjed.html

Market cap similar to us. NPV higher, in Malawi and they have rare earths. Capex around $230m which is just under double of what we need. Their shareprice is up 5% on the release of the dfs today and they say finance will be announced in the coming months. Will be interesting to see what deal they can make in financing. They have had discussion with banks etc in parallel with the dfs.

https://www.atreveteyexplora.com/empresariales/condor-gold-imparte-charlas-sobre-prevencion-de-accidentes-a-mineros-artesanales-del-distrito-minero-la-india/

Nero, last I heard we need to additional metallurgy tests. Not sure why they would take so long.

https://www.calibremining.com/news/calibre-intersects-bonanza-grade-gold-at-the-limon-4395/

This is at Limon, which is close to La India compared to La Libertad.