Member Info for condor_forever

Yeah, I'm listening in. Just listening to pure gold.

Sorry for the typo.

We were heavily undervalued, now we're are less undervalued. That's pretty much what has happened. A broker note came out earlier this week telling everyone how undervalued we are.

I remember you meepav, been ages since you posted.

It's funny hearing everyone else's stories about sleepless nights, aggro from the misses 'you better sell once you break even' 'don't put anymore in you fool' 'divorce papers are out if you invest anymore'. It got to a point I kept on buying and telling her afterwards. She's forgiven me now.

It's nice to tell her 'I told you they were a good investment and they'll actually re-rate'.

I was working so couldn't listen in. Ajmj, can you give us an overview. I understand the talk is more on the environmental, social and governance aspect of the mining sector, but I think this is vital, especially with all the previous issues with the village relocation etc.

Condor have put a lot of money and time in to the local community. For those that don't know, there is a Facebook group called mina la India which has lots of posts about the impact condor is having on community projects etc. All looks positive obviously.

They have some recent results of drilling, moderate to strong mineralisation. They are upping their drilling from 47000m to 60000m by the end of the year.

I would like calibre to do well, they were in the same boat and condor before the deal with b2. It's positive their drill results are good, bodes well for us. A lot of our land is under drilled, 'drowning in targets'. I'd rather calibre do well, their share price improves (already doubled recently), then they and rio can come in with a higher offer. A toll mining deal would pretty much pay for their drilling.

On reflection, after reading the detailed broker note, it reminded me how we managed to come about to getting these concessions.

Hats off to Mark. We started with the small cacao concession, then swapped our small concession which was near to b2 gold's la libertad mine for la India.

No wonder b2 gold couldn't do a deal, they made a massive mistake. Look how much gold we have! From my awareness, b2 did nothing with that concession we swapped. B2 gold were likely focussing on our areas of their business in other countries and we did an amazing deal. The company has had to work extremely hard over the last 14 years but our time is coming!

I'd be up for that pat. Being nosey pat, and you don't have to answer but just wondering how many shares you managed to accumulate over the years?

You'll both get there. Look how quick it has pretty much doubled in price from 26p over the past what, 6 or so weeks.

As already noted, raising equity/shares with a higher share price will reduce dilution. There's still time for share price to rise before Mark raises money. Either way, as tester, others and myself have commented, 30% equity of a $40-50m plant is around $12-15m, convert to £ and it's not a massive issue of shares.

Still small volume over on the tsx. Great day here today and good posts. Good to read the broker note this morning.

Great feeling to finally have broken even. I will try and add more as money allows.

Don't worry, you'll get used to the dormant share price.

Yes, I didn't read all of the report but I did wonder why they were releasing these reports. Makes sense to just focus on la India. Sure it's on mark's radar if a toll mining agreement can be arranged.

I assume rio will be focussing on the borosi mining district (mining triangle) in the northeast of the country. This was where calibre had their projects before acquiring b2 gold mines. They have a concession near sinua or suina (can't quite remember the spelling). We have a small concession only 20km squared near that location, the estrella concession. It's hard to see on maps how far away they are from each other. Maybe this could be a bargaining chip to help with toll mining perhaps, similar to our deal with mako. We obviously won't be focussing on the estrella concession.

Just some thoughts.

It's a good club to be in connect 1 :)

Mako mining only has 940k oz total with only 153k oz in the pit at 7.28g/t. We have 2.4m in total, so double. From our starter pits (similar to Mako open pit), we have 225k oz at 4.65g/t. Our land package and potential is massive compared to Mako, think we have over double the land package. Taking that into consideration, that would be looking at £250m + valuation.

As yv00 says, 20% or 30% dilution, not a big issue on the grand scheme of things. Obviously Mark and all current shareholders would like dilution as low as possible, however I think the finance situation is keeping this at such a low price.

I totally agree yv00.

@ olderandwiser

Take Mako mining for example, good to compare to them as they are fully focused in Nicaragua like us. Their share price was roughly 0.11 CAD and they had 313m shares. They raised $27m at 0.10 CAD for 270m new shares, 83% increase in shares!

Roughly 2 months later their share price doubled and then 6 months later it had trebled from the placing price and is now at 0.43 CAD, so 4 times the placing price.

I know this is just one example however, this can move quick.

http://www.condorgold.com/content/technical-videos

Posted earlier, really interesting video about the cacao vein. Barely drilled, currently 58k oz at 3.1g/t. Our geologist mentions around the 9 minute mark about the fact it is 4km in length and had excellent potential to host 1m oz in a contained region. 1m in just cacao! Crazy.

The company said they have bought around 70% of the land. We have the land for the processing plant and already have the land for the 2 newly permitted high grade pits.

From my experience with this share and the CEO, Mark, he is very thorough and does things by the book. He is focused on getting all the boxes ticked (likely for a takeover).

Been a while since I looked at these.

http://www.condorgold.com/content/technical-videos

The bottom video talks about the scale of our land package and talks about the 5m potential. We'll worth a watch to current investors and potential new investors. I watched it a few years ago but will have another watch again when I'm free.