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Tester123, I agree absolutely with this. Its been far too long for Jim to sell out now as he has supported every share issue to build a large share holding. £200million free cash per year would give Jim some £30million per year; very tasty even for him.
Tester123, I like your optimism but lets be realistic here. Jim Mellon and Ross Beaty were investing in CNR when the share price was £1.50. They clearly saw the upside then and must have been looking at doubling/trebling their investment. This would point to at least £3 share price before selling on. I am sticking with them on this and can wait a while longer.
Very close to a deal on the mill, probably can get on site within six months.
Next year will be mine construction.
24 months from today to first pour.
Toll milling still possible
High grading a 1000tpd mill first off (upgradable to 4000tpd) would require around £30-40m cap ex rather than the PFS £120m.
Register here:
https://www.northernminer.com/2020-canadian-mining-symposium/
According to Forbes CBs will be doubling down on gold this year in fear of a financial crisis.
https://www.forbes.com/sites/simonconstable/2020/06/12/central-banks-set-for-gold-rush--over-financial-crisis-fears/#1cfe2204eebc
For what its worth I think we are going into production, why else would Randy Martin be on board? There is £2billion in free cash flow for CNR over the next seven years through this route, any other option pales in comparison. For example a £2 per share buy out is only worth a seventh of this amount. I for one can wait for my dividends thank you very much.
nero120, I have met Mark several times including an AGM where I was the only shareholder. I have found him to be most honorable. He has always given an honest opinion when asked and what I like most is that he has never tried to over sell the assets. He has worked damned hard for our company and I have nothing but respect for what he has achieved. If reading this, a really big thanks Mark.
After 10years invested ???? I have finally broken even. If anyone thinks I am selling now after all this angst they are going to be very disappointed. I remember the days of Jim Mellon investing millions at £1.50 and I suspect he wont be selling either.
Thanks for that tester123 a very good summary.
Could I also point people towards some of the exciting upsides to land CNR have. Here you will find the technical video of the partially drilled Cacao vein which a little to the east of the permitted open pits. The geologist states that he believes this alone probably contains another 1million ounces and recommends further drilling.
http://condorgold.com/content/technical-videos