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I don’t believe its a case of MC dragging his heels sorting out a toll agreement. We have to remember he was in advanced discussions with regard a toll agreement with B2Gold who had taken 2 samples of our ore to 2 of their laboratories to conduct the metallurgical tests at the laboratories at their processing plants at their El Limon and La Libertad mines and had exceptional recovery rate of 95.4%. Unfortunately B2Gold had a change of direction and have withdrawn from Nicaragua, selling out to Calibre. No doubt it is Calibre who are now dragging their heels, probably concerned that any positive news will cause our market capital to increase drastically, not what they want if they have one eye on a take over bid somewhere down the line. I, like many on here, am frustrated with the perceived lack of traction but am sure there is plenty going on in the background. Never did I think 11 years on from my 1st purchase in Condor Resources that we still would not have 1 ounce of gold out of the ground. We have to be mindful that we have had some tremendous unfortunate events; Having to pull out of El Salvador due to the government placing a stop to all gold mining, Political unrest in Nicaragua and the latest disaster being Covid. Mark was seen to carry on through these challenges, carrying on with his regular trips to the Nicaragua, against the advice of our government, to push on with the project. I think a little bit more patience is required, and have no doubt he and the PI’s will get their just rewards.
Sorry Elise, research HS2 or Heathrow expansion and tell me they don't do compulsory purchase!
https://en.wikipedia.org/wiki/Compulsory_purchase_order
But is that because we have never placed shares on the TSX? Nothing stopping Randy selling them there. You may be right, and he has tried but got no takers. Andrew Cheatle joined the board after we listed on the TSX, with I quote from the RNS 18th Jan 18 - "It is important to have a Canadian based Director to add gravitas and effect introductions in Canada". Would love to hear more on his involvement with the company having been on the board now for over 2.5 years.
If Randy is still selling, I wonder why he doesn't try via the TSX? Current price is listed as $C1.2 which equates to approx. 70p.
sorry, mentioned toll agreement twice. Should have said completion of land purchase. Started on the wine early!
Alwaysone, so you don't think a toll deal, announcement that a mill has been acquired or a toll agreement has been signed are imminent? Good luck.
should read 90 hectares remain.
@ Foreman, 91% of 1000 hectares secured, therefore 9 hectares remain, around 220 acres.
For Ricky, please read Randy, Doh!
On 26th Jul 19 the Nicaragua Milling Company (NMC) took-up a placement of 9,842,520 shares each of which had a one third of one share purchase warrant, as outlined in the RNS on the 8th Jul 19. In the RNS dated 6th Aug 20, the 9,842,520 were split , 5,000,000 to NMC and 4,842,520 to Ricky Martin (R.M). 4,842,520 shares has 1,614,173 share warrants entitlement. The RNS on the 1st Sep announced R.M had sold 540,000 shares and today the RNS announced he has sold a further 1,090,000 shares, a total of 1,630,000. This is a very similar amount to the warrants Ricky will be able to convert to shares at a future date. In my opinion, In my opinion, Ricky has reduced his holdings by a similar number to what he can re-purchase with the warrants, and don’t think it is anything more sinister than that. I am hoping that is all it is and we should see the share price move northwards again.
Yet the SP does nothng? Very strange; there has to be a seller in the background.
You wouldn't get $245 for resources. Only reserves.
Some chunky trades showing up after the bell.
I have no doubt that if the right offer came in, of course it would have to be considered, however the valuation of the company would have gone up considerably since 2015, irrespective of the share price as we stand.
The sale of Condor Gold PLC was an option being considered in Sep 2005 as part of a strategic review because of a falling gold price and the perceived issues raising equity to progress to building the mine. Taken from the RNS on 4th Sep 2015:
“The lack of appetite for equity financing in the junior gold exploration sector. The Board has concluded that the equity required for the construction of a mine at La India Project, given the upfront capital cost of between US$110M and US$169M estimated in the PFS and PEAs would prove significantly dilutive to existing shareholders. Furthermore, there is no guarantee that either equity or debt financing for the construction of the mine and associated infrastructure can be secured on satisfactory terms. The Board's view is that the completion of a Definitive Feasibility Study ("DFS"), while adding value to the Project, would be unlikely to be fully recognised in the share price and in any case, in the event that the strategic review results in an eventual sale of the Company's business or assets or of the Company itself, the DFS would be substantially reviewed by any acquirer. Condor will continue with its strategy of de-risking the La India Project by applying for an EIA Permit and securing the rural land, while continuing to show the upside of the Project through a soil survey programme, a detailed structural geology study and completing an enterprise optimisation study on the reserves and resources in the PFS and PEAs.
One of the options being considered would be a possible offer for the Company. Another option is for a joint venture or sale of one or more of the Company's assets, including the independent mineral resource estimate in El Salvador of 13.1M tonnes at 2.6g/t containing 1.1M oz gold equivalent.”
The formal sale process ended some 4 months later due to a substantial drop in our share price because of a negative market sentiment towards junior gold exploration companies and the natural resource sector in general at that time.
Things have moved on considerably from those days with a gold bull market and the possibilities of a revenue stream from the open pits, to progress to building the mine.
I would class the granting of permits extremely juicy!
Large sell of 196K shares from this morning. Explains why we are down today despite a fair few buys.
Could say the same about you Tester ;)
I guess Norville thinks he should be giving his time for free.