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Good interview with Adonis who confirms everything is progressing well on all fronts to deliver FID. He also gives very positive recaps on the other pillars of the business. CHAR are clearly responding to the call for news from the market and have given strong reassurance. I imagine that the various work streams at Anchois are interconnected which would make it difficult to give individual updates on each work stream. We will probably get a mega RNS in due course formally updating all the work streams at the same time. Looking very promising and very difficult to understand why we are below 20p.
The shorting mentioned last week seems the most likely explanation and the sooner the shorters get burned the better.

A late reported buy from 9am. 340000 at 20.40. That’s a serious vote of confidence.
Currently Up 4.6% at 20p as the volume reaches 2.1 million which after 3 hours trading already exceeds Friday’s 1.76 million.

The 52 week high of 22.75p was set in December 2021. sCLP has made major progress on several fronts since then as evidenced by the recent flow of RNS. One would expect 22.75p to be exceeded this week if not today.

Now Up 5.9% at 20.25p on volume of 650000.

3x 20p just paid.

Up 3.3% to 19.75 on volume of 151000. 19.90p has been paid so one would expect to be in the 20’s today.

Calibre was Up 8.8% yesterday.

There she goes Up 29% on volume of 820000.

7.295p paid for 50000 which is above full offer of 7p which has been paid for the last 5 trades. This is ready to move up again.

We are still 6% down on where we were 1 year ago so with all the recent news we should push through 20p and continue heading north.

Currently Up 13.6% on volume of 190000. Looking as if a good day is underway.

Good news this morning not least because it keeps strengthening CHAR’s ties to Morocco in the Energy sector. CHAR will have all 3 of its businesses operating in Morocco.

It has always been stated that if CNR takes this to production equity will form a proportion of the finance. It was always going to be a smaller proportion of the finance and just how small would depend upon the other forms of finance used including gold loans for example. Mark dis cussed that in the Crux interview. There was also discussion of a small top up raise prior to the main equity raise but no timing given. This is no surprise to anyone as it is how Condor has operated through its existence because that’s how virtually all Pre production Companies have to operate as you well know. Clearly if they achieve a quick sale or a Farm In with a large cash payment the requirement for further a further equity raise could be greatly reduced or disappear entirely. If we have a small raise in the next few months one would hope it is after news on the debt financing as with that sorted the sp should be substantially higher
Let’s hope Jim and Mark can pull off a sale thereby removing the need for further funds and any dilution.

The shorters create fear that a share is going to fall simply by the act of shorting it. They can then benefit from the fall but then at a certain point when the share has bottomed they will buy back in to close their short at a profit . They then make another profit from the rapid rise and it is often rapid as every shorter rushes to close his short before it gets back to the point at which he shorted. Personally I think shorting is a practise that should be banned as it is open to market manipulation and causes excessive volatility. However the market makers love volatility as they make most of their money on volume.

Redeyemines
In your post when you are essentially saying investors have a lot of time to re enter you are failing to mention some possible events that could cause this to rise very quickly on an RNS one morning. It should be remembered that at the stage CHAR are at currently it is quite common for small oil and gas companies to be acquired by a much larger player (Total is an obvious candidate given its involvement in CHAR’s Renewables and Hydrogen businesses). Clearly any acquisition would be many multiples of todays sp and if you aren’t invested you will miss that. The next option is receiving a large payment for a Farm In which would move CHAR to a permanent much higher level.
News cannot be too far away now so just bear that in mind if you are selling now or indeed have already sold.

Seingred, they are not my figures but those of Crux whose views I set a lot more store by than your constant agenda driven negativity. It is highly likely that if one of the sources of finance CNR are considering was from a US based institution, then that will not now be an option. Although just the other day Mako stated they were still shipping gold to the US so what does that say about the application of the sanctions. There are many sources of finance other than US based ones. Canada is a major source of finance for mining hence CNR’s listing in Canada. China is an obvious source and ****ing off Biden would be an added bonus for them!
Mark makes it clear in the interview that he has always been aware that there is a discount to be applied for Nicaragua compared to the most stable jurisdictions but also makes the point that a number of gold miners operate in some really dreadful countries citing one of the largest Gold Miners that operates in the DRC.
I feel sure Crux can back up their comments but if you don’t believe them why don’t you ask them for it.

Now 5.1% at 18.125p

Currently Up 3.6% at 17.875 on volume of 1.5 million. The last 9 trades have been above 18p upto 18.4p.

No need for a fund raise as CHAR has plenty of cash as per the latest Results RNS in September:
“ Well capitalised business - further reinforced following a successful fundraise in June 2022.

· Cash position as at 30 June 2022 - $23.4million with no debt with minimal licence commitments.”

I rewatched the last interview Mark did with Crux: https://youtu.be/Zgs5cnEogZQ.
It is well worth revisiting and I will repost my comments when I first watched it 1 month ago:
“ 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.”
Mark made it very clear he will pitch Condor on the value of its assets,not on the basis of a premium to its current share price. It is the interviewer who makes the point tha Condors current sp should be 8 to 10 times higher if it is valued in relation to its global peers.