Member Info for nero120

Absolutely Joe. The thing I find incredible is, he actually thinks anyone here gives a stuff about what he posts?! A sad and desperate individual.

Don't mind him Joe, he's just angry his crypto losses are mounting.

Glad to hear you are doing better BMR and I wish you well.

I absolutely share everyone's frustration here, I never imagined that we'd still be here waiting for a binding offer after nearly two years with the gold price at record highs!!

However I do believe that the delay is simply down to the fact that, despite the record gold price, gold equities are completely out of favour which is causing a huge disparity between NPV calculations of reserves vs what acquirers are willing to pay. I expect many juniors are in similar positions to Condor, but maybe feel differently about self-building their mines or waiting for the market to change. In Condor's case, (I believe) the board want a sale but basically want a higher price that potential acquirers want to pay, and there is a stand off. That will have to be resolved at some point (soon?) and one or both parties will need to compromise on their demands.

Whatever happens, I would like this to be resolved quickly but am resigned to accepting that it will take as long as it takes. Good luck all.

Another day, another ATH for the gold price.

Unbelievable that the mining sector is basically printing money yet mining equity values are in the toilet, every idiot momentum investor is still chasing crypto or fake tech (AI, etc). GDX is now at 37, but was at 60 in 2011 when the gold price was half what it is now. Juniors are languishing. Who would have imagined such a situation?!

And gold is like "what happened yesterday?!" 😂😂😂

A very calm and boring weekend for the markets! :D

Gold and silver holding up very well, risk assets getting absolutely schwacked inc the miners with Condor holding up very well also. And crypto... lol, no! One minute BTC is $65k, the next it's $50k! Digital gold, not so much.

Should be an interesting week!

Tomamara, they obviously could have already sold it for a lower price, but then the whiners here would be wailing all the same (the blessing being we wouldn't have had to have listened to them anymore).

Management are trying to get the BEST PRICE despite the constant whining from short-sighted PIs.

Front-month gold futures contract at $2508, another new ATH.

Despite all the whining, I don't hear any credit being given to JM and MC that they have timed the sale to perfection. Funny that.

No

Indeed Sakura, they ceased negotiations with one producer - I think we can all guess the reason why that was. That says to me that the board believes there is no shortage of other potential acquirers willing to pay more.

Also we're now into miners earnings reporting season, so the higher gold price will make miners earnings much more attractive to investors. Newmont reported on the 25th and despite higher costs, the higher gold price helped them massively. Other miners that have a better control of costs will likely soar on the back of these results, and hopefully attract more investment capital into the sector, which will definitely help Condor in it's plan to sell the assets for as much as possible.

Sorry, just to clarify, Mark hasn't taken a pay cut exactly (as I said a few posts earlier). At the AGM, JM said the non-exec directors had suspended salaries until a sale - MC has done the same. Now does that seem like the actions of management who are not expecting a sale to be agreed in the near future?

Seingred everyone involved in the sales process is barred from buying or selling until the sales process is concluded (one way or another).

BMR that makes no sense.

If Mark has taken a pay cut then it's only because he expects a deal to be concluded shortly. His options/shares are basically worthless currently, there is not the volume to sustain any amount of large selling for PIs let alone majority shareholders!! The only way his or Jim's shares are worth anything is if a deal is concluded. They are massively incentivised to get a deal done, why is it that PIs find this so hard to understand and prefer to make unsubstantiated claims or conspiracy theories when the truth is in plain sight?

...unless you're attempting to shake nervous PIs into selling.

Greygoose how do we know what's happening with the sales process? We've been over this so many times, (if) negotiations are occurring then we aren't going to get RNS' telling us the minutes of the last negotiation meeting are we?! We will not know anything until either:

a.) A deal is done and a binding offer is submitted, or

b.) Management decide an acceptable deal is not possible so change strategy

JM/MC will not benefit by dragging this out to the point where the gov/locals get sick of waiting and force some kind of outcome. In my opinion, given that the process has taken so long is a sign that they believe an acceptable offer is possible and that's what they are working towards. Do we really think Jim, having only seen offers for $X million, is just sitting on his hands waiting (and praying) for $X million x 2 or 3? That is just not realistic. If offers were not forthcoming, or if the offers were waaaay lower than expectations then they would have either capitulated and accepted a lower offer of changed strategy already.

The fact that we are hearing nothing means that things ARE happening behind the scenes. Who knows, maybe it's the gov holding things up as the potential acquirer wants a better tax incentive or something.

We will see when we see.

Everything red across the board and Condor is up 4%!! 😵‍💫

ICB my opinion is just that calibre would buy condor's assets but simply that they think they can get a better deal by waiting JM out (MC has made comments that interested parties think they can pick up condor's assets on the cheap, no doubt he would be referring to calibre). They are in no rush. They must have weighed up the risk of losing out to a competitor vs paying a higher price, though I obviously do not know what the outcome was.

We will find out in due course.

Q2 earnings reports for the miners next month so we should see some more attention on the sector as the high gold price will have pushed earnings higher. Wonder whether that will spur on some increased M&A activity

*and that especially applies to

The learner we did drill for years and the sp went nowhere. Everyone is so critical and think they have the answer to this riddle, but the truth is they have no real idea. The gold equities (especially juniors) has been in the toilet since 2011. Read that again and get it into your heads. MC and JM are trying to find a way to unlock liquidity at a higher share price, they decided a sale was the best way and quite frankly I'm finding it hard to disagree. If they can pull off a sale then it means we can all exit at a higher share price, rather than us all trying to sell millions of shares into a thinly traded market and absolutely tanking the price.

After years of being here it still seems like investors (like Surreynot123) don't appear to grasp this simple fact. Anyone with a large holding needs a significant liquidity event to exit, and not especially applies to JM and MC. If you didn't understand this when you entered your position then it's not MC and JMs fault, it's your own so stop blaming them for your own stupidity. Or you can do like seingred does and trade the share, helped by constantly posting negative comments to shake said idiots out of their positions to buy at a lower price.

Nothing has changed here, except as the gold price rises the fundamentals get better and better. The question is whether JM and MC can capitalise on that in the negotiations. Obviously then cannot report on these negotiations and we will only find out when a binding offer is made or if they change strategy.

Frustrations are completely understandable, but let's try and stay rational no? This process cannot continue indefinitely so we will find out soon one way or the other.