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I think you are right on that being a sell the buys are at 1.15 and that is what has moved it up 2.3% to 1.125 as the volume reaches 3 million.

Mark when asked about financing in recent interviews states it will take 3 to 4 months. Bearing in mind these discussions have been going on for several months I don’t think the financing would take that long. My speculation would be that Mark is giving that timescale because financing is his least preferred option. He is actually hoping for a bid or a Major to take a stake within the 3 to 4 month window so he doesn’t need to go down the financing route. We know that within the last month a team of 6 experts conducted extensive due diligence on site. There is clearly a lot going on on multiple fronts and news could drop at any time.

We are 7 months on from that 1.15 closing high on 29th March just prior to the last placing (we did see an intra day high of 1.175 in August). We are 7 months closer to the drill , seismic acquisition will have been fully completed later this week and analysis of the Seismic relating to the drill area is underway. So we are in a much more advanced position than we were 7 months ago and that should now justify a higher sp.

It would be nice to break 1.15 today and it certainly looks possible with 5 of the 10 trades so far have been at full offer 1.15 and the largest buy of 1 million was at 1.149.

I am surprised they are not out on the streets demanding Hasina resign. If she had not blocked Phulbari and had given the green light years ago when she should have given it, Bangladesh would have 3 power stations using coal from Phulbari. It is an example of incompetence on a monstrous scale. These blackouts could have largely been avoided and the blame lies 100% with Hasina. Knowing how politics seems to work in Bangladesh, Hasina should be very worried that she will soon find herself in prison as in this part of the world out going leaders are often pursued for corruption.

There have been updates since October 2021. Here is one in April 2022 giving the November spud date:
“ Ruvuma

In this important year for Aminex, on the Ruvuma PSA in Tanzania, with the seismic acquisition programme and the drilling of the Chikumbi-1 ("CH-1") well, the Company can advise that operational activities continue to progress under the direction of the operator, ARA Petroleum Tanzania Limited ("APT"). Whilst seismic operations continue, APT has further advanced the well planning for the CH-1 well with all long lead items contracts now executed. APT reports a target spud date for the CH-1 well in November 2022. Aminex, with a 25% non-operated carried interest, is carried throughout the ongoing work programme to a maximum gross capital expenditure of $140 million ($35 million net to Aminex) and is expected to see the Company through to the commencement of commercial gas production from the Ntorya gas-field, scheduled for the end of 2024, at zero cost to the Company.”

18p has just been paid as the volume exceeds 2 million.

The article reminds us that Total Energies have an oil discovery offshore Namibia so they could be interested in CHAR’s Interests in Namibia. Total are involved in 2 pillars of our business already. They have to be a strong possibility for our Moroccan Gas and we have something of interest for them in Namibia. It would seem that it must occur to Total that buying CHAR would be a great fit or failing that taking a major stake .

A quiet day with just 6 trades all buys for a volume of 51000. The last trade was at full offer 28p. Nothing offered to buy on Barclays but I could sell at 27.875p.

“
The seismic data required to evaluate the drilling location of the Chikumbi-1 ("CH-1") well is expected by mid-September 2022."
They expect the data by mid September but they then have to evaluate the data and they haven’t put a time frame on the evaluation. So there is no missed target.

It is rather pointless to keep referring to AEX’s past problems and delays. The upcoming drill is totally outside the control of AEX and references to previous AEX drills are therefore totally irrelevant. The drill is entirely the responsibility of ARA. We have been told the spud will happen on schedule in November. Any further information AEX can give us is dependent on what ARA decide to tell us.
Currently Up 4.8% at 1.1 on low volume.

This conference is an excellent forum for Chariot to promote the 3 pillars of its business. If you read through the speakers and the topics this is a fantastic networking opportunity. Total Energies are presenting this morning and are hosting a private invitation only lunch today to which one would image our directors have been invited.
There are also some discussions on Oil in Namibia and CHAR still have some interests there, which are potentially very valuable.

Barclays won’t quote for a buy but they would take shares from me at 27.5p( obviously I am not selling!)
Following yesterdays 5.8% rise I think a move to 30p is highly likely as the MM’s will need to raise the price to get trading taking place.

A 100000 Buy at 17.8 bodes well for a close today above 18p.

First Majestic have got to be a strong possibility as they did due diligence before taking shares in part payment for the Sag Mill and remain a shareholder. They are also used to operating in Central America. The fact that a company recentlyhas had a team of 6 experts on site giving the “tyres a very good kicking” suggests a company with large resources is seriously considering getting involved. We know NDA’s are in place but it could be finance, JV or a bid. I think Mark would prefer a bid and is expecting that to be the most usual outcome for a junior miner at this stage post BFS.

Rio would be the obvious one with their investment in Calibre and there was a mention in one of Mark’s interviews that a major was interested in copper on Condors land. Later on Rio was mentioned but not directly linked.

As volume reaches 2.6 million we have just had a 300000 buy at full offer 1.1. Perhaps another tick up before the close.

Quieter here this morning compared to Fridays 19 million volume following the RNS confirming the November spud. But good to see a 2.4% rise on low volume of 1.7 million.

Definitely worth listening to the interview. This guy has interviewed Mark a number of times and he always asks the tough questions to explore why Condors share price is so low in relation to the value of its gold and its progress to FS.
The reason Mark mentioned the asset sale was because as I have said many times on this bb this company will be sold on the basis of the value of its gold which is in no way reflected in its current share price. Mark made it very clear that is his approach.The interviewer stated that CNR was massively undervalued by 8 to 10x compared to companies elsewhere in the world. The interviewer suggested a valuation in excess of US$400 Million against a current market cap of US$50 Million at 25p current share price. So on his numbers he is saying CNR is 8x undervalued which would give a share price of £2.
There is clearly a lot going on at Condor exploring the various options available to Condor. Clearly they need to make decisions quickly in order to get the mine Ito production. My impression from listening to Mark are that his preferences would be
1. Outright sale
2. Strategic Partner
3. Taking the mine to production himself
in that order.

Price paid rising into the close with 16.52p the most recent price paid.