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Report well received by the market AEX Up 13.2% on volume of 4.4 million, which will see it sitting towards the top of the Leaderboard.

If you include the 100000 buys on AQSE there was virtually no difference between buys and sells which makes the 16% drop look very odd.

Excellent podcast following up on his RNS statement. Very clear where he intends to take this focusing on Dynasty and Satoshipay. I get the impression he has reasonable expectations for Guild but he will exit I would expect once it has recovered and we can bank a decent profit. BLU are not going to raise any new capital and the proposed share options for Directors will not kick in until 0.35 compared to current sp of 0.15 and current NAV of 0.24. The intention is to cash out what he sees as very profitable investments in Dynasty and Satoshipay over the next 2to 3 years and then to ask shareholders what they want to do with the cash.
Personally I think this is a great strategy to allow shareholders to realise the full value of their investment.
Welcome back Tony.

The deal announced by CNE this morning shows there is considerable interest in MiddleEastern and North African gas. CHAR is in the right place at the right time and there is great interest to do financing and takeovers. CHAR should have some very attractive offers to sort through.

Good to see the non executive Director buying in at the current share price.

You are correct in your observations condor-forever but my point was that Condor have already been having discussions with financiers from at least the beginning of this year, probably longer. I would suggest that the six month period you mention has already happened along side the BFS. Assuming the BFS was essentially in line with what they were expecting, a few minor tweaks should not take 3 to 4 months. It may of course take some time to sort the best one as there is apparently a long queue of eager financiers .

You are of course entitled to your opinion but the very concerted effort that Mark is currently making to bring Condor to the attention of bidders, suggest he doesn’t share your opinion. The disconnect between the value of the gold in the ground and the ridiculously low share price is precisely why Condor will be sold based on the value of its gold in the ground and it’s potential to become a 12 million oz gold district . It has a good chance of becoming a world class mine not just with gold but also silver and copper.

It is a little surprising that Mark is saying financing is 3 to 4 months away as he has been talking to financiers for several months in tandem with the preparation of the BFS. It is of course prudent to give some extra time and come in early rather than have to announce a delay. I am inclined to think he is really saying 3 to 4 months because he is expecting to attract bids and or a big player to farm in. Mark is clearly setting his stall out with his enthusiastic presentations of the BFS at major industry gatherings in the US. Mentioning upto an extra 12 million ozs is clearly intended to attract the attention of the big players. Now is when you would expect bids post BFS and pre financing. So those not expecting anything much to happen for the next 3 to 4 months May find an RNS drops one morning that makes them wish they had been fully loaded. But obviously each to their own investing style , always remembering that history shows Condor can move very quickly at times.

He has been trying to sell LEAP for 3 years. It’s certainly true now as he has basically told us a transaction regarding LEAP is imminent. He has also greatly disappointed us with his current valuation of Leap and the value that is likely to be realised. Personally I think we should continue to hold LEAP until IPO market improves again as it will. He has said he will hold the other investments until the market improves but seems to think it’s a good idea to sell LEAP at a low point.
If he does proceed with his plan to give away our largest asset which he had lead us to believe was worth 10x what he is now proposing to sell it for, he would then presumably be free to buy shares in SEED.

Tester, thank you for your very enlightening summary of Mark at Master Investor . Do you know if a recording of this is available?

If I was being Machiavellian I could suggest that there was a plan behind Mark White selling now. If it is the case that Derek Lew intends to sell or is selling he will only get a low price for his shares as a result of Mark’s sale taking the sp down. Mark White and anyone else who cares to can then buy very cheap shares. Remember Mark White still owns over 8% of BLU.
If you weren’t intending to sell in advance of the next news this makes no difference to you, but you have an opportunity to average down. I am sure this is not lost on the derampers who are happy to make mischief with a view to the sp falling further.

Further thoughts regarding the first part of that article:
“ The government is highly considering various measures to extract coal from several fields in Bangladesh to boost power generation to limit the energy crisis, load-shedding and additional import costs.

According to Petrobangla officials, open-pit mining of the new deposit on the northern side of the Barapukuria coal mine in Dinajpur is being considered at first.

They said all preparations are complete to begin the mining process in that new deposit at the only coal-producing mine in the country.

Then, Petrobangla is looking into mining coal from four other fields, including the highly discussed one in Dinajpur’s Phulbari amid strong opposition from environmental activists, mining experts and economists.

They say the coal mining in that densely populated region will have a severe impact on agriculture and the environment while the economic loss will be several times higher than the profit.”
They are talking about open pit mining at Barapukuria the only operational coal mine in Bangladesh. It is important to understand that Barapukuria is just 10 miles that’s right TEN MILES from PHULBARI and it’s part of the same coal seam. So if you approve open pit mining at Barapukuria it seems inconceivable that you could refuse open pit at Phulbari.
This is looking more promising every day as we know GCM are talking to the Government and the Goverment is discussing open pit 10 miles away.

The share was marked up at the close from 7.1 to 7.3 so this morning it has opened where it actually was on Friday’s close.
This mornings apparent drop is therefore an illusion.

Flagging the 4% on GCM yesterday was in response to the derampers and was pointing the direction of travel remained North. It seems quite pertinent with todays 12.5% rise.
I would like to reciprocate and call you out as one of the most irritating posters on this bb. Far too much noise with little substance.

Where are you getting your 80-100 million shares from? We know Mark wants to minimise dilution and he has talked in today’s interview about a number of financing methods including gold loans and bank finance. If it looks like too much dilution Mark will go down the sale route, which I think has always been his preference.

I agree Jochen is the best interviewer and is a great enthusiast for Condor. It is a big vote of confidence that he is a shareholder and is going to buy more. A good summary of the main points and a must watch for investors interested in Condor.
There is a lot going on in Beaver Creek and elsewhere on all fronts to finance the project. It’s very encouraging.

A 400000 Buy at 1.122p has reversed the small drop on opening and is the highest price paid so far today as the volume passes 3 million.

The Calibre and Mako presentations are well worth watching as they show how quickly they have got areas into production and producing high quality gold. They also demonstrate the quick pay back of borrowing and using cash flow to fund ongoing exploration. Gold mining in Nicaragua seems very straight forward and one wouldn’t imagine any problems with Mark achieving a 16 month build time. What’s going on at Mako and Calibre should be a great help in promoting Condor to finance guys and/or bidders.
Well worth watching both presentations.

The “near term inflection point” is Simon Thompson’s opinion so I will use his words to answer your question:
“ In the short-term, news flow from the group’s Moroccan flagship project will be the key share price driver given that Chariot’s 75 per cent working interest in Anchois’ 2C resources accounts for 44p a share of Cenkos Securities target price of 63p (using a 50 per cent risk weighting and based on a risked value of $507mn). Bearing this in mind, the turmoil in the European gas market has materially improved the odds of the prospect being commercialised.

The shares have delivered a 535 per cent return in my 2017 Bargain Shares Portfolio, but the price has moved sideways since my last update, offering a decent opportunity to buy in ahead of likely positive news flow. Buy.”
He also states earlier in the article the following which also seems pertinent:
“ With investment bank Societe Generale leading the project financing, a tie-in agreement signed earlier this month to provide access to the major Maghreb Europe Gas pipeline, offtake and strategic partnering discussions ongoing, and Environmental and Social Impact Assessments underway, Chariot’s board are looking to reach Final Investment Decision as soon as possible and start generating material cash flows thereafter. An oversubscribed placing and open offer raised $29.5mn at the end of the first half, so with net funds of $23.4mnn Chariot is well capitalised to extract the best deal possible.”

The problem with the volume is that there are very few sellers and why would they at this low price and many are long term holders. There will come a point where the MM’s have to move the sp up quite sharply to encourage sellers. Let’s see if Mark’s roadshow encourages some buying from the US and Canada and/or a bid.