Member Info for nero120

No ICB, I do not think those large round numbered trades we keep seeing appear within seconds of each other are bed and isas, they are block trades being executed by MMs as part of a larger order. Were they bed and isas then I would expect the trades not to be round numbers, with a larger spread between the sell and the buy, and more time between them (a few minutes at least).

As I keep saying, I think there is a very large order (in the millions), or bunch of orders that an MM (or multiple MMs) have been trying to fill for the last few weeks. These orders are buys since the price has been rising strongly, but the MMs are naturally trying to execute at the lowest possible price.

This makes sense, since a sale is all but done and likely to be multiples higher from the current price.

Also liked how Mark emphasised the value of the entire district and that the FS had recent higher inflation priced in to costs.

Going back to the question and answer session from yesterday, someone ( :) ) asked Mark to clarify whether or not Condor owns all the land, as that someone is probably sick of book5 on advfn constantly complaining that Condor does not own all the land and accusing management of misleading investors. I for one am glad to hear that land ownership will not be an issue for the sale process.

Connect look at the trades, so many block trades being executed so clearly there is a very large order or multiple orders that MMs are trying to fill at or under 30p. Until these orders are cleared I doubt the MMs will let the price run much higher.

Still there, MMs trying to execute the trades at or under 30p it looks like.

Seingred I'm confused, if you're not holding until after the sale then how do you expect to "be wrong and get scooby doos £1.50"? Obv that was said in jest but the point is, if you don't trust JM then you're not sticking around until the sale goes through, so at what price are you selling? You have said that you think 60p is the max you think possible for the sale, so I doubt that's your target. So what is it, 40p?

Doubt that is a bed and isa trade ICB, the bid/ask would not be the same to sell and buy within 10 secs or so. Looks more like a block trade to me, our big order is still there in the background trying to get filled...

How are MMs making a market if they simply limit any buy to small amounts rather than raising the bid?!

ICB that's a delayed trade from earlier (10:25). Still seems like there are shenanigans going on here.

CF see here:

https://seekingalpha.com/article/4322432-condor-spreads-wings-to-fly-again

More block trades coming in at 28p this morning, big order not filled yet.

Agreed Punters that is my bet also.

Judging by the trades, I think this is being held under 28p until a large order has been filled.

Definitely an order being filled, look at all the 25k (and 2x12.5k seconds apart) trades today, these trades started appearing last Monday at the recent bottom of 22.3p, then continued last week and into this week and we currently sit at 28.40p.

Once the first binding offer comes in then I think the volume will really pick up and drive the share price quickly up to at least match the offer, though it could go higher in anticipation of subsequent higher offers. I think the first binding offer will be much higher than LTIs here suspect, as a binding offer will need to be realistic such that the board will accept it, I'm talking at least $200M (~90p).

The geo-political movements currently happening are causing other countries to diversify away from dollars, driving the gold price higher, and inflation is pushing up producers costs and making some larger, lower grade projects uneconomical. It is looking like the proverbial stars have aligned and I think that will be reflected in the amounts offered. Also Mark has been looking very pleased in recent interviews and I very much doubt he would be happy with anything less than £1.50 a share...

*can

Sakura please cannot you direct me to this planet you have found where most women are rational?! I want to go to there!!

I follow you Punter, the original RNS which announced the sell talks about selling "the assets", and does indeed list each of the resources. Clearly the other resources can be expanded with some additional drilling so I have no doubt Mark will seek to get a fair price for them that takes this into account. I do not believe any of that is included in the NPV estimations currently. We could all be pleasantly surprised!

EL exactly why they'll buy the lot IMO.

Punter La India is only one of many concessions that Condor owns (100% of might I add) that have a defined resource, also Mestiza, America, Central Breccia, Cacao, San Lucas and Cristalito Tatescame. Plus all the other concessions that do not have defined resources but for which airborne geophysics and possibly some of which have had soil sampling done.

Only LA India itself was included in the FS, but the previous PFS also included the Mestiza and America open pits. So you see the potential here, why would anyone buy just La India by itself? That would not make sense to me.

Also what good is La India without the rest of the land package? 2m oz (inferred) doesn't provide for any exploration upside and all the indications are la India is sitting on a high grade gold district. I can't believe that a large gold producer would look at saving $50-100m by leaving the rest of condor's assets on the table. Full company takeover is the most likely outcome in my mind.

Punter CEOs do not "award themselves" shares, their remuneration is approved by the board.