Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Since the PFS was published gold has risen by $500/oz and permitted resources increased to 1.11million. That an extra £450million pounds or an extra £4.50 additional (not total) profit per share. Not bad for a share trading at 40-45p.
Yes its been so long now that I have forgotten how much potential there is. There are areas of faults that have not even been looked at yet like the one which runs parallel to and could be just as big as La India.
Tester 123. In the retail market you can't actually buy gold for delivery in the UK. Price discovery for single coins therefore seems to be determined by eBay where people happily pay £300 above spot (£1700/oz). Once lockdown ends and the gold stores reopen we may then only see the real value of gold.
And the last time the share was at 40p gold was $1300/oz and its now $400/oz more.
So what's the additional $400 multiplied by the now 1.12million permitted ounces worth?
Well in simple terms its £3.90 additional profit per share and spread over the 8 year mine life that's an additional dividend of 49p per share per annum (less tax of course).
Willowman, beat me to that. 'Tentative bids for a secondhand processing plant'. Wow, what amazingly great news, this will be the spark that ignites this share. Shows just how we will progress, that will be Randy Martin's purpose I guess.
tester123; I notice you did not mention Randy Martin's purchase of 10% of CNR in July last year. It was never really explained why he came on board, although obviously he has a lot of experience with building toll milling operations in Nic. Do you have a view? Is there some way that he could facilitate toll milling in the short term and get us some early cash flow? I feel that even a small amount would set this share alight.
From the July RNS:
I take this opportunity to welcome Nicaragua Milling Company Limited as a 10.4% shareholder post placement. Nicaragua Milling Company Limited is controlled by Randy Martin, a mining engineer with a long history of operating in Nicaragua, Central and South America. Mr Martin was founder and CEO of RNC Gold Limited until its merger with Yamana Gold Inc in 2006. He developed Hemco Nicaragua, which operates the 1,200 tpd underground and open pit mine at Bonanza, of which 90% was sold to Mineros SA. Mr Martin is the COO of Para Resources Inc, a TSXv-listed, in-production gold mining company with projects in Arizona, Columbia and Brazil. Mr Martin has extensive experience of operating toll milling plants for artisanal miners and currently owns and operates the 200tpd Plantel Los Angelos toll milling operation in Nicaragua."
Re RNS statements below. Could someone please be kind enough to explain what diluted tonnage (second statement) means as opposed to the numbers in the first statement.
- The permitted Mestiza open pit hosts 92Kt at a grade of 12.1 g/t gold (36,000 oz contained gold) in the Indicated Mineral Resource category and 341Kt at a grade of 7.7 g/t gold (85,000 oz contained gold) in the Inferred Mineral Resource category
- Mestiza open pit permitted to deliver robust diluted tonnage of 600Kt at 5.76 g/t gold for 111,100 oz gold
Should of course be costs per oz, bit early in the morning.
IMO this is an excellent plan for toll milling.
Lets assume capex of $10M, a generous $100/oz trucking cost (20-30T trucks to Calibre's idle plant), $250/oz tolling fee to Calibre. At the current gold price of $1650/oz that leaves Condor with £25M cash per year (our market cap) for 5 years.
IMO this is an excellent plan for toll milling.
Lets assume capex of $10M, a generous $100/T trucking cost (20-30T trucks to Calibre's idle plant), $250/T tolling fee to Calibre. At the current gold price of $1650/oz that leaves Condor with £25M cash per year (our market cap) for 5 years.