Member Info for Geovanni

Just read what Tester123 has to say and visit the Condor website. A realistic price target over the next in six months is something that you would have to figure out for yourself. You can start by making comparisons to companies to MKO and PUR.

Caisa of the Ministry said just the other day that the Government was working on the Concession issues. This statement was uploaded to Avanza.

I would like to think that Baylan is getting close to announcing a positive decision.

Baylan knows he is finished if he gets this wrong today

Well done Kurt. A great letter and timed to perfection.

Condor still needs to raise money through debt/ equity to pay for the plant and construction work. They gained approval at the last AGM to issue £25m of shares. So far they have issued £6.6m . If they need another £40m that is £12m of shares to be issued. At 40p/share it would be another 30 million shares. This potential dilution could to serve as a drag on the share price appreciating over the next 2 months. I've still got a hell of a lot of them and even bought more last week after the big drop.

I should think Rio would rather pay a bit extra for a fully de-risked project. What is an extra £100 million when the profit could run in to billions of dollars.

You only need to check the market cap of Pure Gold Mining (£260m and not producing until December) to see that £1.20 is not attractive to long term holders. £2.4 is more like. It takes just two weeks for Rio Tinto to earn that amount.

Andy

What do you think Baylan will say on Wednesday? Is this our moment?

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

I think the second hand plant must have been very good value and with the capability to operate at the future maximum throughput rate. This is something the CEO mentioned around 3 weeks ago.

Wednesday is the day Baylan says something. In the past he has had no problem declining the permit approval pending the Government continuing to 'work' on the topic. Something has changed. The fear of missing out is why we can expect a gradual increase until he speaks.

Hello Sakura
Welcome to this chatboard. We believe that the plant being bought is second hand. It doesn't say this in the RNS but those of us that have been around a while know that this is one of the preferred options that seems to excite the CEO the most. If a deposit was required for a brand new plant then the placing would need to be a lot higher.

I wonder if they will announce a toll mining deal.

Under the RNS section on Canadian Securities Law Matters

Condor has to report within 21 days regarding a material change. This suggests something signifcant is going to be announced within 21 days affecting the value of the business, beyond the mere fund raise. Or am I mistaken?

https://ca.practicallaw.thomsonreuters.com/8-574-9428?transitionType=Default&contextData=(sc.Default)&firstPage=true&bhcp=1

9 months at least. If you look at PUR we are massively undervalued. To equalise for the dilution the share should fall around 3p.

The comparison to PUR is even more relevant. They are 6 months from production with a market value 5 times higher.

It sounds like we could be in production in 9 months. I don't expect the share price to fall more than 3p from here.

Good. That is toll mining kicked into touch.

We have previously been notified that any market sensitive announcement will only be made when stock exchanges are closed. So the statement of a delay raises the possibility of something being announced after 4.30pm UK time. There will be no need to suspend the shares.

It is up 11% in Sweden in the last 30 minutes