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It certainly won't happen today but I could see it approaching that kind of level by the end of next year. A bid would no doubt accelerate the process but there are too many people who won't wait for the real prize. We all know the type; the ones who make a few quid today and boast about it before losing it on the next one, and naturally keeping quiet.

As for today, it was inevitable that you would see a bit of selling into the news but the TSX open will provide a bit of a lift again later today. The Canadians are more savvy than AIM buyers in that they know the real value of Condor's resource. It stands head and shoulders above the vast majority of undeveloped miners and is way undervalued vs. its peer group. The permits have been holding it back not the politics in Nicaragua which don't seem to bother other gold producers.

I don't think 50p is beyond reach today but you can't expect a sustained rise until the professional investors have taken a good look at a new permitted prospect.

I'm also of the view that when it does produce it could go to 150p. Its NPV forecast might suggest 250p but that could be too much to expect at this stage. A big unknown is also the gold price. If we have reached peak gold and we start to see spot creep back up to the $1500/$1600 level then all bets are off. A significant drop in the USD would also help on that front.

Some reminders from the video:

Current MV in the circa $30m zone.
NPV of project is $195m.
AISC circa $700 and spot currently circa $1215.
Value gold in the ground $12.

The numbers speak for themselves as far as the potential is concerned.

ddd

July 18th interview with Mark Child, for anyone who needs a reminder of where we are.

http://www.condorgold.com/news-media/media-press/blytheweigh-mining-show-interview-mark-child

ddd

With the granting of permits now more likely than not it's time to look a bit further ahead. We are either going to get the mine up and running or will be bought while doing so.

Given the nature of the type of mining proposed we could actually be in production in 2020, assuming the permits are very close. There will still be some fund raising and preparation work but these are operational certainties that will be dealt with as needed. The permits are the game changer as far as major risk is concerned.

What most people are no doubt thinking is whether Condor will get bought during 2018 or 2019, before it gets anywhere near producing an ounce of gold. What we do know is that Condor has been visited on multiple occasions over the past few years so that interest could soon be revived with a bit of news. B2B is certainly a possibility but it's not the only player out there. My own guess is that we will see two or three interested parties emerge during the course of 2018. With Condor's resource being one of the best on the planet it would not surprise me to see even a major come in quickly and make a killer offer. Anything could happen once those mega important permits are in place.

It's impossible to guess at a market price but what is clear is that at 40p Condor is anywhere between a third and a quarter of what it could be if a suitor appears. We will no doubt see some profit taking before a slow but inexorable rise to a realistic valuation starts. I've seen it many times before and have no reason to doubt that Condor will be any different.

Fingers crossed that the permits will come sooner than later and kick-start the Condor heatwave.

ddd

It's been a long long time since I last posted anything on LSE although the ii fiasco looks like it may be more often.

I have been particularly impressed by the hundreds of locals cheering for Condor and waving placards supporting the mine proposal. The video seems to be doing the rounds and is well worth a minute of your time. It would be a brave government agency to sit on the permits for too long. Once you see the clip you will understand what I mean.

Fingers crossed the permits will be in place before the end of summer.

As for value, I would be stunned if MC let this go for much less that 150p/share at current PoG prices and if we get a lift in those later in the year perhaps 200p would be more in order. One thing is certain, at 40p this is a multi-bagger waiting to happen.

ddd