RE: Interesting thought here3 Dec 2021 15:54
Hi Patryk, good to see you still here.
I don't want to be a jerk about it (there's way too much of that on here already), but I would respectfully suggest you go back to some of the basics about share prices. Forgive me if I've read your post wrong, but it sounds like you're attributing some significance to different companies share prices being around about a pound, which is not valid. Comparisons based on MCap, resource size, production quantitites, jurisdiction, etc are what you want to look at. I'm afraid it's not as easy as looking at SPs solely.
Going to the core of your question though, a big part of the investment case for Condor is also the investment case for just about the whole sector, which in general is beaten down beyond what would appear to be reasonable. A rising tide floats all boats and if Condor's peers, both producers and explorers, were to double or treble, say, in a broad secter recovery, probably led by a bullish gold price, then a higher valuation for Condor could be justified even if the relative valuations stay the same. In particular, I would say that Calibre are quite undervalued.
Regarding Condor specifically, as Seingred (constantly) reminds us, it mostly comes down to dilution. I think it's fair to say that most LTHs hoped would be in production (or taken over) by now. The company doesn't run on fresh air, so the longer we go without income, the more dilution there is.
117k oz is the production number I'm going by at the moment, once we get rolling. That's with the upgraded motor for the mill, which I imagine we'll do ASAP, but without any other increases. At current gold price that's over a hundred million dollars gross profit. At $2500 gold, it's heading towards two hundred million. Lots of ways that gets whittled down of course, but still, we're currently valued at $56m...
If you haven't seen my recent posts, you'll want to look up the 'Lassonde Curve'. Once the project is sufficiently derisked and finance is obtained, patient but risk-averse IIs will begin to move in and replace/displace impatient and risk-tolerent PIs. The sooner the better in my view. PIs are a pain! lol
I think what you and any LTH frustrated with the SP and/or progress on the ground needs is a plan TBH. A simple question - when will you sell? I'm not going to tell you there's a right or wrong answer to that question, though plenty will. But if you don't know the answer to that question, then I think you should think about it.
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