Member Info for nero120

Sent MC a message today asking if there was any non-market sensitive news he could share, he responded within a couple of hours. I won't post his reply without his permission but sufficive to say we'll have to wait until they're ready to update the market in due course.

DDD agreed.

Seingred the entire gold sector has been lifted by the rising gold price, Equinox has it's fair share of problems (not to mention $1600+/oz AISC due to rising inflation), they had a terrible year last year and some analysts are saying at current prices it's overbought. Could go higher based on sentiment and the desire to capture leveraged gains based on a rising gold price, but no guarantees. My point is even the great Equinox suffered as much as we did last year and is only now rising thanks to the gold price. This sector is fraught with risk, we should all remember that before leaping to insult the BOD here (not saying you did Seingred), but criticism is deserved and justified for sure.

I say the entire gold sector has been lifted by the rising gold price, but obv not Condor as we are currently stuck in this sale process with no idea how it will turn out. My only hope is that the rising gold price will increase the chances of a decent sale here and we can all get out and move on. A decent update soon would be most welcome.

As a side point, the asset sale of La India doesn't make much sense to me, as surely any acquirer would want the additional feeder pits for a scenario described in the 2021 PEA (150,000oz/year for 9 years) rather than the cut down FS scenario. And if they take the feeder pits they might as well take the rest for the exploration upside no (I doubt the remaining land package would add that much additional cost to the deal)?

Inflation is starting to hurt producers and really the gold price should be much higher. The 6 monthly gold price hit $1900 in 2020, adjusted for (official) inflation that would be $2130 today. Given everything happening in the world gold should be $2500+ but it seems the US still has it's thumb on the commodity scales, at least for now. But for how much longer, that is the real question...

Thanks Simms.

DDD having not been through this process before I really don't know what to expect, so unfortunately not in a position to offer any experience-based insights. I guess if nothing else it will be a learning experience!

Your posts relating to intra-company debt are interesting, though have to admit also confusing! The £45m debt you mention, is this basically an accounting "trick" so that it won't actually affect shareholder value? For example, if the asset is sold for £145m , will the shareholders realise £145m in value or £100m?

Punter I'm not arguing that MC has "done a great job", clearly whatever else he has failed to unlock market value for whatever reason (whether his competence, wider market sentiment, etc). What I'm arguing is constantly ****ging of the leadership whilst remaining invested has to be the dumbest thing I've ever seen. So to answer your question "Why would anyone sell now at near rock bottom?", well if you think the BOD are a bunch of crooks then what makes you think you'll ever see a penny more? Sell out whilst you can no?!

Punter out of interest, would you have been happy with 50% dilution to secure mine finance? Would you have accepted the construction risks and possibility of time and cost overruns? And at the end of it, what if the market STILL did not value the Condor appropriately - what if we were still sitting at 30p whilst in production given the amount of dilution required to secure funding?

Obviously I am disappointed with where we are, but I'm hoping that MC/JM had a good reason to believe they could sell the asset for $100-$200m dollars as MC stated. Not the ending I'd hoped for but it is what it is. I'd take that over watch more years pass by and seeing the (current) value of my investment here halved just to start construction.

Get it sold, issue a divi and let's all move on.

You're right of course EL, done. Apologies for giving these fools some undeserved attention.

But seriously, I'm flabbergasted that there are people here that are so angry MC (and JM) didn't make them rich that all they can do is spend their time insulting them on this board! And the best part is, they are still invested!! Surely if you felt that way about the management team you would sell your holding and never look back? Unbelievable.

You talking to me? Never been to the Dorchester so do us all a favour and p1ss off hey?

And you love whining like a little girl. Why are you even here?

Good posts EL, agree wholeheartedly.

Re gold, very interesting volume in COMEX Jan spot contract recently. Someone is buying the spot contract and taking immediate delivery of 100,000s of ozs, something that basically never happens (futures are for hedging/speculating, not for purchasing physical!). Not surprised to see the paper price bounce, could this finally be the time the gold price takes off?

MCs answer was that we should receive updates throughout Q1. We're under three weeks in.

CCC 6th December: "Can we expect to get RNS notifications throughout the sales process (during the rounds) or just at the end?"

PDP what did you ask? Mark always answers my emails promptly.

Squeaky why don't you email Mark and ask him about progress? If you're a shareholder he'll be happy to converse with you and is usually prompt and informative.

Exactly EL. It is amazing isn't it, that DDD takes the time to post a calculated valuation and then it gets pushed to the bottom of the page within hours by various typical posters posting their lazy, dumb "everything is s***" messages.

One wonders why they spend so much time posting on this board when all they have to say about Condor is negative?!

cegamer are you suggesting that La India is worthless because "the market" doesn't price the value into our share price? I would suggest that if the BOD sells the asset for $100-$200m dollars and issues a special dividend as Mark has stated then that certainly would make a difference.

lol wtf was that incoherent mess?!

Wow, in that case I'd hate to see you disappointed. You complain more than my wife does.

Slim I'm wondering if you b**** this much about the rest of your life's disappointments? Do you have a youtube channel where you whine non-stop about crypto? Back on to the ignore list you go.

Good info, thanks DDD.