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I would agree, except that good exploration results stopped moving the SP significantly some time ago. That was at the depths of the gold equity bear market though. Perhaps times are different now.

Regardless of what we think, I rather get the impression that MC is 100% focused on cash-flow at this point in time, so I don't really expect much in the way of further exploratary driling until we have money coming in. There's certainly no hint of that in any of the recent presentations or interviews.

I doubt MC will do it if it will increase dilution. There is plenty already proven up for the current mine plan. Better to do further exploration out of cashflow IMHO.

Again IMHO, having a big resource number is great if you want to sell the company, however we are so close to production now (relatively speaking), that I think selling out would be a shame, unless it was truely a very attractive offer. A big resource number is less important for a producing mine, so long as you've got a few years left in the tank, you can go looking for more any time you need. The largest mines tend to grow organically in this way.

When we do start though, we're going to have a pretty good idea of where to go, due to all the work done to provide evidence for the district-scale deposit - geophysics, rock-chip sampling and so forth.

MC has been making a big deal out of a 5m oz district for some time now, but for a short period before that, he was speculating about 5-10m oz. This was some years ago now. I think 5m oz is virtually nailed on, and considerably more is possible, but we've never had the funds to prove it. That will change in 12-24 months time.

All-time high in USD was in 2011, yes, but gold is already at all-time highs in a number of currencies, including GBP and the Euro.

https://www.bullionbypost.co.uk/gold-price/gold-price-history/

USB has shown strength against those currencies, hence the disparity, but will that continue?

Your guess is as good as mine, and I agree that it is public perception that tends to fuel the latter stages of bull markets, but I'm not sure we are at the latter stages yet. To coin a phrase, I think we may be at the "end of the beginning". Time will tell.

Fantasy for now, certainly, but if the gold price goes nuts, anything is possible.

https://masterinvestor.co.uk/evil-diaries/evil-diaries-real-gold-prices/

Purely for entertainment purposes, I was just calculating whether £28 a share was possible, and the answer is, yes, it is possible, though it would require very strong numbers in every catagory. Here goes... $3000/oz gold price and 200k oz a year production gives £365m profit a year. If the company traded at a P/E ratio of 10, that's a £3.6bn MCap. Divided by 130m shares gives, £28 per share. A best-case scenario to be sure, but makes you think doesn't it. Suffice to say, I'm not selling a single share for a good while yet!

Sorry, my mistake, 4 days, not 6. The weekend doesn't count! Wednesday 29th was day 1, so, if we stay above 30p, day 10 will be Wednesday 13th May, I think. Somewhere around there anyway.

"50% of the [6.7m] Warrants [at 25p] shall be subject to an accelerated exercise period if the closing mid-market price of the ordinary shares on AIM is more than £0.30 for 10 consecutive trading days." From the 8/7/2019 RNS.

I think this means that warrant holders will get a "use it or lose it" ultimatum, once this condition is triggered. It would have been close to triggering in March before Coronavirus hit. I think we're about 6 days in this time around...

MC gets a special bonus if the company is sold for more than £1 per share. That bonus increases if the sale price is more than £1.25, and again if the sale price is more than £1.50. Search for 'Axial Consulting Agreement' in http://www.condorgold.com/sites/default/files/200408%20NOM%20final.pdf

I agree, more or less.

GGP have a lot going for them. In addition to your points, I would add: they are in Australia - one of the safest jurisidictions there is; Newcrest will only earn 70% of Haveiron - GGP have other assets; Newcrest will likely buy the lot at some point (or Rio Tinto will) and if not, then a £300m MCap makes it relatively easy to fund their share of the costs, one way or another.

That said, after a 5-fold increase since December last year, the best of the multi-bagger gains are likely behind them. Their MCap does look quite rich for the time being. I'll be selling my holding in GGP and transferring a good chunk to Condor very soon I think. Should have done it a week ago, but got greedy lol! Listened to too many BB rampers!

Mine tripped at 8.2 and I can now buy back in lower if I wish. Just sayin'

65-70% of the land bought is big news, at least it is to me. I had feared that the land purchase program had ground to a halt for whatever reason. Arguably even more important, is they've bought all the land for the processing plant, which is I guess the crucial part for construction.

We're up, what, 40% in two days? So much for 'not moving' lol. Some people just ain't happy unless they're miserable.

Cheers Seingred. I tend not to mention other shares I'm in, people don't tend to like it, and I can understand that. But yeah, 4-bagger for me now in GGP. Didn't have the confidence to put that much in though. Still, shouldn't be ungrateful! There'll be a top-up here with some of those funds once GGP stalls out. Still keeping the faith with CNR, for my sins. It will surely multi-bag one day, but my it does seem to be taking a while!

There isn't necessarily anyone around who will offer 4x current MCap, even though we all know that would be cheap for the assets we have. Calibre might be interested, but only at fire-sale prices. Rio are clearly watching but they will have their own strategy, and can afford to wait.

Like it or not, this is MC's baby. Moaning on here won't do anything and he has the shares (along with JM and possibly Oracle who are likely to all vote the same way) to hold off any actual challenge. If you don't like it leave. I don't mean that in a mean way, but it's not likely to change any time soon, so if you're not happy with his leadership, best you cut your losses and invest in something else.

Don't think he meant any offence. Neither do I, but if it is simply conjecture that the landholders have agreed to sell and it is just the price that is being haggled over, then that is a very different thing to having some sort of evidence for that option. We're merely wondering which it is.

Most will tell you to avoid stop losses, for fear of MMs dipping the price, just to bring it back up and then missing out on the chance of a lifetime. I would counter that with the risk of the price just continuing to drop. I haven't used them much in the past, but I'm pretty sure they would have saved me money overall. Remember, it's a marathon, not a sprint, and the loss of your capital is the biggest risk there is. That said, they're a tool, not the answer to life the universe and everything. I normally set a stop-loss at somewhere around 8 to 10% down and, raise that as the price rises. You don't have to set the stop for your full holding, perhaps just a portion, if you're fearful of missing out on the big rise.

That's interesting news Slippery, thank you. I am curious though, where did you hear this? Was it an email from MC? If so, anything you can share? TBF, I don't quite understand how one can agree to sell without agreeing a price? A house sale, for example, is only binding once a price has been agreed...

My understanding is that offers have been made for all the land. However the unclear bit to me is how much has actually been acquired - "50%" has been mentioned a few times in the past, though I am not clear on whether that is 50% of the landowners or 50% of the land area. I would assume that there are a few large landowners and several smaller ones, so 50% of one is not the same as 50% of the other. I agree, it is not very clear.

There also has not been an update on this figure for a while. I would hope that it would be increasing, even if slowly, but it is possible that negotiations have stalled for whatever reason which would be evident if that 50% remained constant for months and months at a time.

With the greatest respect to the guys at Primorus, they are absolutely tiny. They are not some huge well-respected hedge-fund. I really don't think their opinion should count for any more than any other PI talking up their own investments and I certainly wouldn't be hanging on their every tweet like they know something we don't.