Member Info for condor_forever

No mention of toll milling. I wonder whether it is becoming less likely.

Nothing different about toll milling. I would only expect concrete news through an RNS. I understand we are still in negotiations regarding a toll, but when do we say enough is enough and pull out if a deal can't be done?

I was hoping for more clarity to be honest. Personally, I think the issue is mark hasn't had confirmation of the processing plant so he can't comment any further. What if the plant we are in talks with falls through and we then go for a bigger plant etc.

Cambells, there is nothing that much different compared to his previous presentations other than an update on 'what we are doing now'. He's mentioned both a 3500 or 1500tpd processing plant for a while. Nothing different.

Seingred, Mark has stated in the recent RNS's that they are going for the high grade option which will be a smaller output. I doubt they'll be buying a really big and expensive processing plant and only using half it's capacity. Yes, I agree nothing has been set in stone in regards to the initial annual production but that is probably because mark hasn't secured a processing plant yet imo.

Berenberg used an EV/reserve to come to their valuation. They used the average on mid tier Australian miners. It's a very basic way of trying to value a company without any concrete numbers that a feasibility study would produce.

I do think too many people are taking this broker note as a gold standard. I've seen so many broker notes suggesting such and such valuations that may never be achieved.

https://corporatefinanceinstitute.com/resources/knowledge/valuation/mining-asset-valuation-techniques/

Only around 92,000 warrants left to be exercised at 31p by the 7th Feb. All good money coming into the company.

Cambells, what do you mean about final environmental permits being announced? We've got the permits.

Mercedes, where did you pluck these random numbers from with your share price valuations?

It's embarrassing.

For example, berenberg have suggested 33p a share with an MRE of 12.5m oz. You're suggesting ggp should already be valued at that with their just over 4m oz at the moment.

Please stop the ramping.

@ petejh - I am not missing the point. A question you need to ask yourself is whether this point you are making is actually valid or not? I personally don't think it is.

From my understanding, the NSR takes account revenue factors, metallurgical recovery assumptions, transport costs and refining charges and royalty.

Now, read that link I sent and then look at what constitutes to 'AISC'. If you look at table 2 on the link I provided on page 13, the above appears to cover sections stated 'operating costs'. It doesn't cover the section stated AISC which includes the following:

Corporate General & Administrative costs
Reclamation & remediation
Exploration & study costs
Capital exploration
Capitalised stripping & underground mine development
Capital expenditure.

It's probably best to wait until the feasibility study is produced before suggesting numbers.

It's far too cheap. Underground and grade at 2.5g/t would not give such a low AISC. Please show me another miner who is reporting and AISC that low at these levels.

That's not how you calculate AISC unfortunately.

Here is a detailed read explaining it all https://www.google.com/url?sa=t&source=web&rct=j&url=https://core.ac.uk/download/pdf/48315821.pdf&ved=2ahUKEwiwyY7Nj7XuAhVzs3EKHULUB3gQFjAMegQIBhAB&usg=AOvVaw0O10HUCd6afUANhtEQlD13

Hope the link works.

https://www.orezone.com/site/assets/files/5516/orezone_metals_investor_forum_jan_2021.pdf

This is from the same company cambells has mentioned have just confirmed their financing, something condor will be doing this year. If you go to slide 11, they compare 4 junior mining companies from initiation of financing all the way to first production. These 4 comparisons have been over the past 3-4 years and there are many more examples out there. They state how these companies share price have risen on average 125% from initiation of their financing of production.

Nice find cambells. So their deal is 30% equity at around 7-8% discount of their current share price.

As Mark has briefly discussed in the past, I think 30% equity is achievable. Let's say we need $70m to get to production, 30% would be £21m. At present, a 7-8% discount would be 50p and would add 42m shares. This is all without a toll deal.

I know nothing has been announced to the market yet about the processing plant and it's cost etc. Does anyone roughly know how much it costs to actually construct the plant and everything else involved? With construction taking 12 months, we would need money to cover G&A and then whether they will be doing a further drill plan or wait for cash flow.

No offence Sam, but you do remind me of the boy who cried wolf. Checking the BB this am and thought 'oh, wondering what good rumours have been said by book5'. Go to check advfn and nothing special.

Same when you posted gold price is on the up, go to check and it's gone up 1 us Dollar!

https://www.calibremining.com/news/pavon-norte-open-pit-mine-delivers-initial-mill-fe-2123/

They've already started trucking ore from pavon and will ramp up to 1000 tpd by the end of the year. Still massive amounts of spare capacity at la libertad

Don't quote me, but pretty sure second hand plants don't come that cheap. Maybe 25-30% from a new build. Not sure whether it'll be any quicker to re-build. Surely they'll need to dissemble it all and rebuild it onsite.

Other than the link with randy, not sure what the relevance is with that post cambells? That plant is far too small. It is just for artisanal miners to use as far as I'm aware.

This was a very embarrassing thread to read.

Have you read the rns? Not much gold found. Very poor start. This share has been massively pumped over the last year.

People have to their own proper research.