Member Info for ElectricLion

I don't bother with ADVFN any more, but yes, book5's affiliations has been fairly obvious for a while. I wonder how the likes of Rio Tinto (for example) would deal with the artisanal miners. It may turn out that they will end up wishing they had cooperated with Condor a little more. Thems the breaks.

I'm not sure why, but there's some sort of 'base value' for a share, which doesn't mean a whole lot most of the time, except that it's some sort of lower limit for fundraising. Condor's 'base value' started at 1p, which is pretty standard I think, but following the 20:1 consolidation, that became 20p. So to raise funds at a price lower than 20p, they have to perform this jiggery-pokery. No doubt others can explain far better than I, but that's the gist of it!

Google seems to show multiple 100k+ trades yesterday that aren't showing on LSE. Anyone know why?

There are options and warrants as well GoldmanBaby - see http://www.condorgold.com/investors/share-info

Somewhere between all and none of them will be taken up before sale.

Plus the upcoming equity raise of course.

Any particular expert gold bulls?

https://twitter.com/NorthstarCharts is good if you're into the technical side of things. I'm not naturally inclined that way, but he's slowly winning me over! lol

It's not long until Q1. The SP could easily double on anticipation alone as we get closer. Buy when it's quiet IMO.

A little odd on the face of it, without further context, but I suspect that the debt and equity packages were, to all intents and purposes, part of the same deal. The funding was never likely to be 100% debt. Once the equity element was withdrawn, there probably wouldn't have been much point chasing the debt as that would still have left the company 10s of millions of dollars short. Better to step back at that point and reevaluate their options, which is what they've done.

To give Seingred his dues, I think it may have been the sanctions that threw the spanner in the works. Quoting from the RNS: "The equity markets have been difficult of late and the impact of US Sanctions as notified on 27 October 2022 has delayed financing. A prior offer of equity financing was subsequently withdrawn whilst the Company rejected a secured debt facility."

I'm sure these issues would only have represented a temporary setback, rather than kiboshing the whole project forever, but it seems to me to have tipped the balance in favour of selling up, which was always MC and JM's preferred outcome in any case. Albeit perhaps not precisely at this moment or under these circumstances, but even they have to play the hand they're dealt.

A buyer will buy an asset for 50p even though the market price is 18 because that buyer can't actually buy the entire asset for 18p a share. What percentage do you think they'd be able to get on the open market without sending the SP into orbit? Single digits probably. Certainly not even close to JM's holding. So 18p is a "fake" price in that regard. The buyer will never get the asset for that price, so if they want the asset, and they should, because it's fundamentally a good asset, they will have to pay what it takes to actually acquire the asset.

If I'm reading it right, the 17% is for the loan, which will cease to exist if the £1m trigger from the open offer is hit and the loan is converted into shares and warrants. So it's *either* 17% on the loan, or the shares and warrants, not *both* (Apart from a small percentage for the loan during now and when it's converted).

Assuming the loan gets converted, it's still an awful lot of warrants, no two ways about it. But then you can easily make a credible case that the company wouldn't still be afloat at all without his backing over the years. So cest la vie. He's not a charity.

I'm not sure it says it the RNS, if it does, I must have missed, but I wonder if the warrants have any restrictions that prevent them from being exercised for some time after being issued? Since the RNS doesn't specifically mention anything, there probably isn't?

Yes, you could sell now and buy back in the open offer at a substantial discount, but it seems to me that the cynical way to play this for all it's worth would be to buy as many as possible before the open offer record date on Thursday. That secures your maximum allocation for the open offer. Then you can sell as many as you like, before maxing-out your open-offer allocation. Only snag would be if the open offer was oversubscribed, then you wouldn't get quite as many shares in the offer as you'd asked for.

Fair point slowly. Although it can only be guesswork how long the sale process will take. I suppose they don't want to be desperate for cash either way.

... so maybe I'll be eating these words soon, but the SP is recovering nicely from the initial drop. It does seem that the end-game is finally here, and those with an eye for a bargain are buying up the shares of stale bulls. I have noticed a few new names on the board the last few weeks, which is always nice. Makes a change from all us old lags arguing amongst ourselves! With JM now taking a leading role, I can't see that the company won't get sold. At what price, who knows, but surely some way above the current price, so, as the saying goes - "buy when there's blood in the streets" - and the rest of the phrase, which is sometimes forgotten - "even if some of the blood is your own".

*grab

Not how I'd read it slowlyx2 TBH. I don't think they will have taken that risk. JM's loan will be all we'll actually need IMO. The open offer is TBF, a way of making it a bit more palatable to everyone else. This may, after all, be the last fund raise the company ever does. From that, my conclusion was then the opposite of yours - the way to minimise dilution, not just from the open offer, but also from JM's loan conversion into shares and warrants, is for the open offer to not make the £1m trigger point, which we can, in our own small way, make more likely by not taking up our share. On the other hand, and bearing in mind we have no idea what the other large holders will do, maybe it's best just to garb as much as we can for ourselves, much as JM is doing! lol

Strategically, if enough don't, JM's loan doesn't get converted into shares and warrants...

Oh, you mean, put a positive spin on this RNS? Sure, if that's what you want - JM wants as many shares as possible. Follow the money.

What are you talking about ISA? Quote what I'm supposed to have said?

It may well be moot for Condor, but worth checking out regardless...
https://www.youtube.com/watch?v=Jk09CehIxe4

https://www.youtube.com/watch?v=Jk09CehIxe4

Oh ISA. So the MMs have some stock from all the nervy PIs. So what? No, it doesn't mean that "something is happening". If you want to sell, then by all means sell, but I find it hard to see how this obsession with the minute-by-minute liquidity situation, in what is a thinly-traded stock at the best of times, is helpful to whatever your trading strategy may be, or your emotional state, to be completely frank. There are much better stocks for day-trading, if that's what you're into!