As I understand it, 100% of La India land is only a requirement for the 120k oz+ plant. Toll mining or possibly even a small plant of our own could be supported from the feeder pits and/or a smaller part of the La India land package. I would not be suprised to see mining of some sort start before all the La India land was purchased.
Toll mining deal is far from certain. Yes, it seems to us to make sense to all parties, but until the RNS lands we'd be better off assuming there is no toll deal IMHO. I'd rather be suprised to the upside than the downside.
Once (if) a deal is agreed, I imagine it would still take a few months before we would actually be trucking ore, so may not be affected by current Calibre shutdown (unless it goes on for 6 months or more).
Indeed, theres a lot of BS and conspiracy theories talked about MMs but the vast majority of it is nonsense by PIs who frankly don't understand what they do. This is a good article that explains how it works: http://shockertrades.blogspot.com/2011/05/market-maker-speaks-out-ways-of-market.html
I agree. Capitulation on a wide scale today. Is it possible that this could be the last great stock market shake out before things stabilise? I guess it's too soon to say. As far as Condor goes, while it's incredibly irritating to see all the positivity and momentum we were building be slapped down by coronavirus, in the long run, I wasn't planning on selling yet anyway. The trades don't seem large, no indication of a significant change in the wind direction, despite what the SP may say. Still don't understand why gold is down, but maybe when people are panicking, they'd rather just sit in cash for a bit.
I'm not convinced there is a big seller. A 50% rise is not the sort of behaviour you'd expect if there was lots of shares being sold into the market, even against the increasingly optimistic backdrop. If there is, then the SP has done very well to defy that selling. Stale holders selling up and being replaced with new blood is healthy for the SP in the long term anyway, so I'm pretty philosophical about it even if there is a seller. Just my 2p.
The so-called 'boiling-zone' south of La India could potentially be a copper/gold porphry system. I think that's what Condor geologists suspect, but it will take time and money that we don't have at the moment to drill it and prove it.
With a breakthrough on just about anything - land purchases, toll mining, finance, we could be at a £50m MCap overnight. IMO, MC wouldn't sell for £50m, unless he thinks we're dead in the water. Nor will JM. A hostile takeover would struggle to get enough votes without the big holders on board. At £100m, they may start considering it, but doubt anyone would offer that big a premium to current SP. To maximise any takeover offer, we have to do exactly the same as if there never will be an offer, and that is to simply keep going, and one day, build a mine.
Calibre Mining Corp. (TSX: CXB; OTCQX: CXBMF) (“Calibre” or the “Company”) is pleased to announce that the Company and Rio Tinto Exploration (“Rio Tinto”) have entered into an option earn-in agreement dated February 23, 2020 (the “Earn-in Agreement”), pursuant to which Rio Tinto can earn up to a 75% interest in Calibre’s 100%-owned Borosi Projects in Northeast Nicaragua. The Borosi Projects host both gold-silver and copper-gold resources in two areas as well as multiple lesser explored copper-gold skarns, low-sulphidation epithermal gold-silver vein systems and bulk tonnage copper-gold porphyry targets.
Furthermore, the Company and Rio Tinto have entered into a strategic exploration alliance agreement (the “Alliance Agreement”) under which we will work together to identify and acquire exploration concessions in Nicaragua, with a focus on copper-gold porphyry, skarn and epithermal precious metal systems.
Punter, I'm not familiar with HUM, but surely something doesn't add up with those numbers? You say they're making $96m profit? Their MCap is only £95m according to LSE. Which puts them on a P/E ratio of under 1.3 if I've done my sums right. Which is the sort of P/E ratio usually reserved for companies that are expected to go bust. So either those numbers aren't quite right, or they have very serious problems, debt perhaps, or they're just stonkingly good value! Any clarification would be appreciated. Whatever the reason, if the numbers are as you say they are, then it may not be representative of the value that Condor could attain in any sort of production scenario.
3 times even! Interesting video though. Nice to see what it really looks like. PR seems to be improving. Whether Condor's driving that or just reaching a stage of development that's independently generating interest, I'm not sure, but good either way.
Johhny: Tell me what makes you think there is manipulation? It's not just the reporting of buys and sells thing, is it? Because, that reporting is simply inaccurate and should be removed. But we all know that, right? Doesn't really amount to manipulation, so unless you have something more, I'm afraid. I kjnow people like a good conspriracy theory, but it doesn't make it true.
Not an endorsement it's fair to say, but it's not all bad. "The project is still good". The negatives are the ones we know about already - social issues at both national and local level and an unproven CEO. IMO if he really wanted to sell up, he would have done so already. His last words are probably key: "I'm gonna reserve judgment on that one." So I think he'll stick around and see how it goes. Maybe he'll sell if the price and/or liquidity improve, but that would imply positive progress for the share anyway. Condor is tiny for him, both in terms of the size of his investment, and also the minutes-per-day that the share will occupy in his thoughts. Plus, he's a very successful guy and he knows what he's talking about, but he's not the messiah. He says himself that many investments he has gotten out of have turned out to be "very happy stories". Condor has survived large shareholders moving on before. At the end of the day, whether the company wil be a success or not depends on how well it executes, not on individual shareholders.
Geovanni effectively summarises the bear case for a toll mining deal with Calibre. Aguila does likewise for the bull case. Each post has 4 upvotes at the time of writing. What to think?
My view is that a toll deal is not in the current share price. The market's view is more closely aligned with the bear case. So if no deal, then it shouldn't hit the SP too hard, I hope. Whereas if there is a toll deal, then the market should respond quite positively. The possibility of that upside, with not much downside, is still worthwhile from an investment point of view IMHO.
And then of course, there's all the rest of it. Toll deal or no toll deal, MC is looking towards cash-flow ASAP. Opinions may differ regarding when that may actually be and at what scale, but we're moving in the right direction. I'd be buying if I wasn't overweight already.
The only part directly of relevance to Condor I heard was at 50 minutes, was very short and the conversation seemed to be M&A oriented, which understandably Calibre are cool on until they figure out what they've already got. I cannot find any reference that would justify your comment RR - "If they dont find anymore gold and exhaust all resource at Pavon & LaLibertad then maybe they might consider toll mining few years down the road". Please direct me to a timestamp. If this is just your interpretation, please say so, as it is very misleading and disengenuous if those comments are not actually to be found in the video.