Member Info for ElectricLion

Nothing concrete, just a feeling, along with a few snippets that MC has shared. I may well be putting 2 and 2 together and getting 5. I know MC has some form for missing (often self-imposed) deadlines, but he seemed (to me) to be pretty confident of hitting that date until quite late in the day. To be nearing a month and a half since that date, with no further explnation or details forthcoming, indicates (to me) that *something* changed to cause that delay. What that something may be, I couldn't say.

Rising on good volume is usually a good sign, particularly in the face of tough market conditions generally and gold inching lower as well (I'm inclined to think it'll start heading North again shortly, perhaps after tagging the $1800 area, but WTFDIK).

I had thought that once the end March due date for the BFS had slipped by that there was probably just some fairly minor delay (quite possibly due to a contracted 3rd party and out of MC's control) and accordingly that the BFS would none-the-less be here "soon" (I mooted April at the time, sue me) and that would be that, until financing. But now, with the passage of more time, I'm starting to think that the delay is indicating some more substantial news (hopefully positive!) is brewing.

For the time being though, it's nice just to see blue! Sun is shining too! Beer o'clock!

I saw something similar. https://twitter.com/NorthstarCharts

I'm not a tech anal (as you put it!), at all, but I do have some respect for the guy above. I also think the larger and the more liquid the market, the more likely such predictions could be self-fulfilling - if enough believe it, and trade accordingly, it'll *make* it come true!

300% *of* 0.8 is 2.4. A 300% *rise* from 0.8 is 3.2. The context wasn't really clear from the OP, so some confusion is understandable. No need for anyone to get hot under the collar.

Showing your true colours NML. Filtered.

I wonder what TW will make of this one. For me, I think I'm out. Fool me once, shame on you, fool me twice, shame on me. I don't plan on sticking around to be fooled a 3rd time. What a ******. Over and out.

FFS. Starting to think the "derampers" were right...

They're not meaningless at all, but you do need to understand how to interpret them. They are NOT a valuation (directly), or a prediction. It is normal to use a *discounted* NPV to value a company at this stage, to account for the time and risk between now and full value being extracted (which may take many years). As such, the SP will rarely actually reach the value implied by the NPV. Also note the 'P' - *present* - it may change in the future based on new discoveries, changing asset prices and costs. It's a guide, no more, no less, and you are of course welcome to use any other valuation metric you prefer, but that doesn't make the NPV meaningless, you just need to know what it actually means.

The only change we know about is that toll milling looks doubtful now. If that information has come to light quite recently, and MC had pencilled that into the BFS in some way (not sure how that would be relevent to the BFS though?), then that could explain a last-minute change requring some extra time.

Unfortunate that Calibre aren't interested in toll mining, only so much MC can do if they won't come to the table. I had hoped that the proposal submitted late last year implied that an informal agreement had already been made and it just needed to be formalised. Cest la vie. It may indicate an increased possibility of Calibre trying to acquire us at some point. They certainly don't seem interested in collaborating at the moment.

Usually, the answer to these sort of things is rather mundane. Most likely a 3rd party slipping their own schedule IMV. It's not all directly under MC's control. He likely gave a deadline in good faith assuming that all other parties would meet their deadlines.

"never get held to account"... pull the other one Seingred! You do little else! lol

I appreciate where you're coming from AF. No hard feelings.

I don't think MC is intentionally misleading us, though he does have a habit of speaking when perhaps he might be better off not doing so! I think the reality is he's pretty frustrated and disappointed himself.

He's collecting a pay-cheque of course, but it's not that high for someone in his position, and many of us are also collecting our own pay cheques while we wait for someone else to make us a lot of money.

We are close to the BFS which should lead fairly quickly to funding and construction. We are, or should be, at the nadir of the orphan period, with gold looking pretty robust and predicted by some to go much higher over the next few years (what's new I hear you ask, but I would say it does feel different this time). Against the jurisdictional risk we can set the possiblity of toll mining or a takeover. The SP right now seems stable, certainly there seems a reluctance to dip too far into the twenties, which bodes well for a stronger, more sustainable rise once there is some positive catalyst.

As opulentia has reminded us (or me anyway), a newcomer's view of the current investment case is rather more positive than some of the LTHs. We should be careful not to miss the wood for the trees. As frustrated as we all are, this seems the right time to buy or hold to me.

I see that stating a desire for constructive, relevent content has been reframed by those who seek to post unconstructive, irrelevent content, as an attempt at authoritarian censorship. Disappointing, but predictable I suppose. It's the way of things these days isn't it - attempt to discredit the opposition by spreading fake news. I suppose it doesn't matter that I am not an LSE moderator, nor have reported any posts on this board other than Noel's (and one of ISA's IIRC, when he blew his top).

Still, at least there are filters. I find it is not easy to decide what to do with those posters who post constructive, relevent content AND unconstructive, irrelevent content (or perhaps the filters are not flexible enough), however it is quite easy to decide what to do with posters who ONLY seem to post unconstructive, irrelevent content. With that in mind, I have added Willowman to my list (to keep SS and Noel company), but not Seingred and AF (yet).

https://mobile.twitter.com/NorthstarCharts/status/1510383499299233792

https://thenib.com/silenced/

You have a lot to say, considering it doesn't bother you too much...

Alternatively, CNR could have stopped issuing shares 3 years ago... and then gone bust. Can't have your cake and eat it.

"all technical studies are complete save the final analysis"
"The FS level mine and waste dump schedules are underway"
"A FS Study is due in the first half of 2022"

Considering those caveats, seems unlikely that EOD 31/03/2022 will be hit (still 2 working days to go though), however it doesn't seem like there's much left to do either. I'm gonna go with April.

MC is gonna want it out before the AGM, precisely to avoid having to answer some of the awkward questions from those such as yourself! Unlike some others, I'm reasonably content with the job MC is doing, however he does need to try to stop shooting himself in the foot by setting self-imposed deadlines which end up being missed.

Liquidity is a bit better than normal. I can sell 110K shares at 30.35 before going to NT.

Regardless of what the future may bring, it seems to me that the reaction to today's news has been overdone. I think some need to zoom out a bit and look at the bigger picture sometimes, and today's RNS, while containing little new news, is far from bearish.

I agree a placing is a possibility at some point, though I would expect it to be fairly small - large costs over the last year have been the BFS and land purchases, both now nearly complete.

I also expect many of today's sellers to buy back soon.

MC will release it when it's ready. Companies rarely, if ever, have the opportunity to choose when to release price-sensitive news. Well, a bit of wiggle room, maybe a day or two at the outside, but not much more than that, due to stock market rules designed to limit insider trading. It is also perhaps one of, if not the most, significant documents CNR has ever produced, and has content from multiple 3rd parties, as well as Condor itself.

IMHO, MC shouldn't have mentioned a deadline for it at all TBF, but he did, and that's his choice, and so to an extent his fault if he misses it, since it's his deadline in the first place. Makes very little difference in the grand scheme of things whether it's this week, or next or the week after though.

The £160k trade is in the SP now either way. If it was a buy, then there must have been matching sellers. If a sell, there must have been matching buyers. The SP itself is the best overall indicator, and that has risen modestly over the last couple of weeks.

You would think that we'd have all learnt a bit of patience by now!