Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
".. ....it has been decided to initiate mine production with high grade starter pits within the permitted main La India open pit and ......."
A big decision has been taken. This will lead nicely onto choosing a mill size, and then financing.
"Book5 heard rumours, toll mining material will be processed at El Limon facilities, only 1h15 mins by car from la India, which is much closer than La Libertad (more than 4 h)
That makes no sense as the Limon plant is at capacity and Calibre are already shipping 1000 TPD of ore to Libertard.
https://off-guardian.org/2020/09/30/nicaragua-the-country-that-didnt-swallow-the-covid-blue-pill/
The $50m was also discussed in the last presentation where Mark said that it would cost that to pour the first gold from Mestiza. So its an all inclusive capex as far as I can see for a 1000-1200tpd operation.
I have listed to the webinar a few times now and from Mark's words, tone and body language my take is:
1/ By year end we will enter into a contract for a second hand mill, finish studies and complete land purchases.
2/ The mill will be 1000-1200tpd
3/ We will high grade the ore from three small pits not just Mestiza
4/ We will be producing 50,000 oz per year.
5/ Capex will be $50m, split between bank debt, gold loans and equity (the latter being the balance and least favoured).
6/ Site will be cleared this year.
7/ Toll milling will (if at all) be just an add on to our own production.
For those who missed it:
https://www.bigmarker.com/share-talk/Share-Talk-Presents-and-Investor-Webinar-and-Q-A-with-Condor-Gold-PLC?bmid=5af6d7b954a6
Reposted to this thread.
Folks remember you still have to remove a lot of overburden to get to the gold but then you don't have to buy and build the mill and associated infrastructure. I calculate the cost of shipping ore to Calibre to be about $300/oz AISC leaving CNR and Calibre to split $1700 for each of the 90,000 Mestiza ounces (£115m). A 50:50 split would net CNR our market cap in cash over 2 years.
Folks remember you still have to remove a lot of overburden to get to the gold but then you don't have to buy and build the mill and associated infrastructure. I calculate the cost of shipping ore to Calibre to be about $300/oz AISC leaving CNR and Calibre to split $1700 for each of the 90,000 Mestiza ounces (£115m). A 50:50 split would net CNR our market cap in cash over 2 years.
I am aghast today at the rise and still there is no coverage anywhere. Oliver Kann in the Times at the weekend thought there was no reason at all for holding gold in a portfolio because "it cant be valued as it is only worth what someone is prepared to pay". Just wait until just a few people wake up to the value (what else has given your portfolio a 100 times £ value increase in the last 50 years). There is nothing on earth like a gold rush, people just can't help themselves because it's in their DNA.