Member Info for condor_forever

Dyor olderandwiser. Mark has stated they have all the land for where the processing plant is going to be positioned. Let's not start twisting words.

Yes, and shows confidence that they were taken up. I wonder who has gobbled up the rest of the recent placing.

Let's just hope AIM starts to realise the true value of junior producers. Or as you say erdles, some nice dividends further down the line. I'm more than happy with going dpw the route of production, it might take some time to see real value but I think we'll steadily climb. I'd be surprised to see £1 this year to be honest. I'd love to be proven wrong though.

Yes Nero, that's what I meant. Cheers for clarifying.

Yv00 there is mako who are pretty much about to start producing in Q4 this year. They are fully funded for their mine but have further potential to increase their annual production in the next few years.

Hemco run the bonanza mine in the North-East of the country. Calibre have some JVs with IAMGOLD and I think hemco but can't remember off the top of my head. Will have to check. Other than that, I don't know of any.

We are far less undervalued than mako so it would make sense for rio to target us but that's only my thoughts.

You could say pure gold are in a safer jurisdiction than condor but at the same time you could say it can't be that bad in rio tinto are getting involved with calibre and the govt are pro mining.

I'm probably way off, but I've been thinking about this recent raise. Maybe it was needed this soon for the land purchases as Mark has mentioned he's been buying more land and maybe we were low on cash.

My other thought is that maybe a deal is being done for calibre/rio to buy us out and as part of that deal, we need to get everything in place regarding accelerating land purchases etc. It wouldn't be a good move for another company to come in part way through negotiating land purchases considering all the work we've done in the local communities.

With the talks with calibre about a toll deal, we must be strongly on their radar, surely they know that we've got and how profitable we'll be.

Or, Mark is saying to calibre, look, we've got cash now, we can go this alone, we can get our own processing plant etc. Put an offer in before it's too late.

Equinox have just raised $145m as well. I'm not sure if we are on their radar but surely with Ross beaty, that could be another outside shot?

Yes, the tax is on profits only.

Hi ajmj,
My understanding is that it is just a 3% royalty and nothing to the nic government. The nic government let you own 100% of the concession, it's just the usual 30% corporation tax. I can't remember for the life of me whether that corporation tax is on profit only.

Does anyone else know?

Tester123 - my take on it was more to do with the financing of the processing plant in regards to dilution etc rather than the mining studies. My assumption is that the mining studies won't tell us anything we don't already know regarding how much production we are aiming for.

What are your thoughts?

Let's not forget, Mark has had to reduce his % of share capital from 4.4% to 3.7% post placing. He wouldn't have done this off a whim, he would have thought long and hard about it. Let's hope things are accelerated with this cash raise. Box off those final land purchases and I'd love to hear the size of plant/cost of plant Mark is eyeing up!

Welcome back sakura. I remember you from all those years ago. Good purchase today!

Good luck all holders.

Wish I held off buying yesterday lol.

This doesn't mean toll mining is off the cards. As mentioned, we need cash for the land and engineering studies. The toll mining would not have been quick enough to get that cash. The toll mining would have gone towards reducing the equity for the purchase of the processing plant. It could still happen.

At least the share price rallied prior to the placing. We knew Mark needed more cash for the rest of this year. Great money is available for a deposit on a mine.

Imagine if Mark put the placing out when we were sat i the 20's, there would have been a lot more dilution.

I don't think it's a bad raise tbh at 36.5p.

A post on there today was suggesting good progress is being made in the land purchases from a local source.

Good post DDD. Totally agree. I'm an investor, not a trader. I know how undervalued we are. I've struggled to sell on highs and buy back lower. I bought a lot around to 20-26p range to average down and happy with that. I'll continue to put more in when I have funds over the next 6 months+.

https://www.bloomberg.com/press-releases/2020-05-27/infill-drilling-at-san-albino-complete-highlighted-by-intercepts-of-69-99-g-t-gold-over-1-8-meters-and-47-89-g-t-gold-over-2-6

Some further amazing drill results and infill drilling over at mako. Makes you just realise that Nicaragua is highly underexplored, this is evident with how confident calibre are with expanding their concessions/drilling around el Limon, pavon and la libertad and how rio are keen to get involved with there borosi concessions.

Let's not forget that condor are drowning in targets. We have a massive 580km squared district which is in one location!

I've learnt that condor can drop back as quick as it goes up. Personally I think there will be a little more time to stock up on shares. Mark talked about the financing being finalised later this year. This is quite important. Yes, a toll deal could be struck, yes, a cheeky offer can be made. I am not selling any and never have other than to transfer into an ISA. I've just bought another 10k at 51.5p, made from my profit from avct. I still have a free float over there which I am debating on what to do with.

@Lastchance - in regards to Calibre, they quickly moved from being an explorer to being a producer by purchasing B2Golds mines for $100m. This allows them to produce roughly 160,000oz per annum (minus covid situation). Yes, they reported 2019 AISC around $1524-1617 USD, however this has dropped to $1030 AISC due to better grades.

They produced 42,000oz in Q1 2020. Personally, I think B2gold were focusing a lot of their time and effort on their better producing mines in other countries that they were happy to pass this onto Calibre to fully focus on whilst maintaining a roughly 30-35% interest in the Calibre. This shows in the great work Calibre have done in putting a part of their mill and idle, this saves them a lot of wasted money which they say will fund an aggressive drill program. They also have the pavon project which is awaiting permits which is a shallow high grade open pit of ~5g/t.

Prior to the deal with B2, Calibre were just like condor. They had and still have a large concession in the borosi district, a previous mining district and classed as a mining triangle. The deal with Rio is to focus on 2 of their 100% concessions in the following:

cerro aeropuerto skarn - 707,750oz @ 3.64g/t
primavera - a gold-copper porphyry deposit 782,000 at 0.84g/t AuEq (gold equivalent)

All this info is readily available on Calibre's website, pretty easy to find.

James