Member Info for Geovanni

Timestamp

20 mins to 21.50 mins

nationalisation OR massively higher taxes

That is a very interesting interview. Interesting what he says about the risk of nationalisation of gold mines occurring in Africa and Latin America if gold keeps rising. Maybe Tester to do a quick calc on where the share price would be in the event of nationalisation of massively high taxes .

https://www.youtube.com/watch?v=7-yHiEIg0Is&t=32s

It is worth having a listen again to what Ryan King said about Condor in an interview on 7 February. At that time the Calibre share price was 88 canadian cents. It is now c$1.81. You only need to listen from 50-53 minutes.

I do not think it would serve the interests of Calibre shareholders to enter in to a Toll Mining agreement with Condor when Condor is such an obvious acquisition target. The continued absence of a Toll Mining agreement is like the canary in the mine.

ISA
You should have immediately phoned your broker to get the deal reversed free of charge. I have done that a few times and always successfully.

Issued today. Calibre shares up 12% today. Market Cap now £294m. How long will it be, and how high does their share price have to go before they push their paper at Condor.

I think land purchase is the big issue. Who is going to bid for them while that isn't sorted out? Nobody.

Once this is sorted there should be no stopping this getting to 80p. I wonder when we will get some news on the recommendation proposed by the financial analyst recently employed to review the financing options. Also news on the DD relating to the second hand plant.

https://www.youtube.com/watch?v=IHOqEzX1Cng

Thankfully this time it was only 17 minutes.

https://www.youtube.com/watch?v=Ubv2796pDpo

https://www.youtube.com/watch?v=eASLNfftJbg

https://www.youtube.com/watch?v=gCMu5_kyBEQ

Good find c_f
The Cardinal Resource project requires a capex of US$390= £315m. Add that to the purchase price of £166m = £481m.
That is a lot for a project with an undiscounted cash flow of US$1bn at $1350 gold price. However if one used a gold price of $1700 it would be US$£2.5bn cash flow. So the price paid is 23.8% of gross undiscounted cash flow using $1700.

So if Condor mines 1.8m oz at $900/oz free cash flow = US$1.62bn. Using a figure of 23.8% buy out price and 150 million shares in issue = £2.08/share. Ahhh but we might have 3-5m ozs

'more time given to Toll Mining than expected'

It is correct that MC spoke quite a bit on this topic in Wednesday's presentation. In the previous presentation he did not mention it at all. So maybe it is now an option that Calibre are now seriously interested in. If so then we should know next month.

I thought it was reasonably positive. Second hand plant his preferred option with due diligence going well. $40-50m capex. Land issues progressing - slowly. Toll mining still on his mind as a possibility. I expect we will have confirmation on the plant contract in less than 2 months time. I don't think the share price will fall below mid 30's now. Someone said yesterday that I'd sold all mine near the recent top and bought them all back around 40p. Unfortunately that isn't correct. I only sold 6% in the high 50's. Since then I've increased my holding by 23% buying between 36-42p including today. I do believe that this is the junior gold explorer with the best leverage for share price growth over the next 2 years.

No Mark will not get a toll mining deal done. Calibre aren't interested in seeing the Condor share price rise in advance of their all paper offer for the company. The gold price is likely to reach a new 8 year high in next few days. $1600+ is the new normal for gold.

Thank you Condorquestion. The gold report you posted yesterday was indeed a very good read.

Thank you Condorquestion. The gold report you posted yesterday was indeed a very good read.

That sounds like yet another positive indicator of an announcement quite soon.