RE: Calibre Share Holder Agreement11 Oct 2019 09:04
Prior to the takeover by Calibre a heads of term agreement had been reached with the B2Gold team in country.
Hopefully this is what MC discussed with Calibre CEO CFO in Denver. It will be interesting to see if this now flies. Can see the benefits to both parties in the short term . Eg next 2 years whilst both businesses move towards their end games, let’s hope egos do not get in the way of potentially a good deal
Condor has continued its exploration strategy on its permitted 2.4M oz gold resource at La India Project, Nicaragua. Condor’s geologists believe they have identified the next La India Vein that can add 1M oz gold to the global resource. Please see link below to a technical video and report on the Cacao vein. Note that in several presentations on our website, i have highlighted the drill programs to expand the current mineral resources in the 3 main vein sets by 900,000 oz gold, by drilling along strike and down dip. There is a clear route to increase the La India gold deposit to over 4M oz gold
Think there is a willingness on both cnr and B2gold part to process our ore through their mills. Think it is just logistics and commercials that need to be agreed. Hopefully there should be an RNS soon.
Not sure how long it will be before we see cash from the process.
Think the comparison by the US is unfair give the numbers and scale of the oppression and like most things out of the US the statement is political motivated however the potential impact on future investment and condor price can’t be underestimated by such positioning by the US. Will sanctions follow?
I would like to bet that MC 10% reference is B2gold taking a stake in us once permits have been granted, linked to cash for us to complete the drilling / BFS and then taking some ore for processing in their plant.
Giving them something to process and condor cash to stop further dilution.
Just a thought are the producers waiting in the wings to make an offer, buy a stake because any disruption to the ownership of the company would / could impact the permits. However once the permits are approved, will we a major producer take a position ?
Presidential and General elections called for 29th March 2019 guaranteed by Organisation of American States (OAS). Not confirmed. UN and EU arrived in Nicaraguan at the weekend. Ortega is negotiating his exit.
Potential excellent news as it paves a way forward. End of national strike, barricades agreed by all parties etc.
"After an 8 hour lunch, Nicaragua's National Dialogue reconvened Friday night with several important announcements. Sometime between the second course and dessert, all sides apparently agreed to a 6-point accord that commits the government to invite the OAS' Inter-American Commission on Human Rights back to Nicaragua; to accelerate the formation of an international and independent expert Truth Commission; to invite the UN High Commissioner on Human Rights to Nicaragua; to invite the Secretary General of the OAS to Nicaragua; to call for an end to all forms of violence from all sides; and to implement a plan as soon as possible with oversight from the Commission on Truth and Security to dismantle all the barricades in the country. Issues up for discussion in tomorrow's National Dialogue: Democratization of Nicaragua, including a proposal to hold early general elections on March 29, 2019 to elect a new congress and president. Ortega would not be allowed to run for reelection. The current CSE would be disbanded this month, so new electoral authorities would be charged with overseeing the poll. Repeat: this is only a proposal at the moment — it will be discussed tomorrow at National Dialogue. Stay tuned. Good night-"
Normally I attend AGM, have done last few years but could not yesterday because of work. So had a call with MC in the afternoon. Unlike most CEO MC usually has time to discuss things with shareholders obviously subject to travel,
Yes. He was at the AGM flew back to the U.K. arrived yesterday, he is clocking up the air miles. This last trip was at the request of 2 ministries to answer some final technical questions. Condor has committed to providing written responses by the end of the month. Then the technical part of the resubmitted EIA will have been passed and the door open for the PC, but I presume the timing of that will be dependent on the political situation
The government wants the additional income for the investment / mine, so we willl have to see how this plays out. That I am afraided is our gamble as shareholders but for the potential reward of a 5 million Oz district is worth the risk