Member Info for nero120

£5 away from all time highs in sterling.

Regarding the share price, I think it's more helpful to view it in terms of market cap to remove dilution from the picture. Condor's market cap has ranged between about £60m in 2012 (post stock split) to a low of £8m in Jan 2016, then to a high of £70m in May 2021. We are currently sitting at £30m, with an FS completed showing a highly economic resource, permits received, land bought, mill purchased, etc.

No one is purchasing this company/asset for £30m. I would guess £100m/$120USD would be a minimum but the market has never given Condor's share price a reasonable premium for it's achievements. We actually started a re-rate in 2020 leading to a market cap high of £70m in May 2021, but then as the price of gold dropped it took us down with it and then the sanctions in Oct 22 kicked us whilst we were down. Anyway, 60p+ a share I think is a reasonable base line valuation, then just need to account for warrants/options.

The market hasn't yet woken up to the possibility of a buy out at multiples of current share price (easy 3 bag?), we do need some news regarding progress to wake things up a bit.

EL I would expect that the trades shown on GF should match those appearing on the London Stock Exchange:

https://www.londonstockexchange.com/stock/CNR/condor-gold-plc/trade-recap

So my guess is Google Finance is wrong.

Forget what I said, apologies. Google Finance is terrible!! It reckons there was a 70k buy at 0901!

Some 50k buys above 18p this morning, MMs spreading out a big order?

Some nice buys above 18p, let's see if we can end the day above 18. If we can, then maybe we can challenge 20p by the end of the week!

Next resistance level is 20.5p. A bit of good news would easily push us through that and then it's clear skies up to 30p.

Interesting re Calednonia, an all-share acquisition.

"Now that the transaction has completed, Caledonia will commission its own feasibility study to identify the most appropriate way to commercialise this asset having regard to the availability of funding with the objective of maximising Caledonia's net present value per share. I anticipate the feasibility study will take 12 to 14 months to complete."

So they need to do their own feasibility study, and what about permits? Also:

"The project has NI43-101-compliant proven and probable mineral reserves of 1.96 million ounces of gold in 26.64 million tonnes at a grade of 2.29 grams per ton (g/t) and measured and indicated mineral resources of 2.56 million ounces of gold in 35.18 million tonnes at a grade of 2.26 g/t and inferred mineral resources of 577,000 ounces of gold in 9.48 million tonnes at a grade of 1.89 g/t. The project has produced approximately 288,000 ounces of gold since 1989."

Slightly lower grade than La India but more proven ounces, I'd expect the AISC when they finally complete their FS to be higher than ours.

Still, positive news that acquisitions are occurring in the gold space right now and $65m is a decent price for this deposit. I would still expect La India to fetch more as it has an complete FS and is permitted, among other things. I wouldn't complain if we got an all-share purchase and received Calibre/First Majestic/Rio shares - at least we can sell those into very liquid markets (or hold if preferred) and don't need to worry about the sale proceeds being locked up out of our reach.

JFC people. Stablecoins are not "ponzi schemes" as they are designed to track the price of an underlying asset, they do not pay anything out to old holders as new holders buy in. Therefore, Tether is not a ponzi scheme, but it is a FRAUD. Tether claim to have 1 to 1 backing of USD for each USDT token, but no one knows what the hell they actually have as THEY'VE NEVER ONCE SUBMITTED TO AN INDEPENDENT, VERIFIABLE AUDIT. If that doesn't scream SCAM to you then I've got a bunch of FTT tokens to sell you.

As for Tether Gold (XAUT), just have a look at their site https://gold.tether.to/ and you tell me if it seems legit. And again, NO INDEPENDENT AUDIT. Who knows how much gold they have in reserve, if any. Why in god's (or should that be gold's?) name would I own a (probably fraudulent) digital token gold substitute when I can own ACTUAL GOLD?! Sometimes living in clown world really gets under my skin, but only in clown world would people not understand that the entire point of gold as a safe haven asset is that it has NO COUNTER PARTY, so when you accept a gold substitute (such as XAUT) you are foregoing the entire reason for holding gold in the first place! And also, the entire point of crypto coins were that using cryptographically signed transactions and distributed ledgers would do away with the requirement to trust centralised institutions. And then some bright spark came up with stable coins (backed by the assets of a fricking CENTRALISED INSTITUTION!!) and the idiots, not seeing the complete contradiction, flocked to buy it.

As for MC's comments, he said cryptos were a speculative asset, and he's absolutely right. If tether gold wanted to fund the mine and get paid in gold then at the very least it proves that Condor's assets have real value that will hopefully be realised during the sales process. Regardless, many have tried to "digitise" gold (goldmoney, glint, kinesis, etc) so XAUT is not new, but utilising a blockchain is pointless since you are necessarily trusting a centralised institution, so you're just incurring additional transaction cost for no benefit. Russia and China are committed to developing an alternative digital reserve currency to rival the dollar that will be "backed" by commodities and/or other physical assets, but note that a digital currency is not the same thing as a crypto currency, and their currency will be for trade settlements between nations only. I see no benefit to holding digital gold if you're looking to preserve your wealth.

Most crypto proponents fail to understand crypto, money and it seems, gold as well. They are simply speculators looking to get rich quick off the latest thing. Maybe they will, but more likely they will not.

Awax perhaps if we'd not been delayed with the resettlement issues then this would have been feasible, but in this market I'm starting to think selling is the safer play. The world is coming unglued (as well as the markets) and I'm not sure I want to be in a risky, illiquid stock such as Condor over the coming years. There is no guarantee the market would even reward us us if we made it to production (it hasn't yet for all the progress made, so it's not certain that would change), and it would be a long while before we'd see any dividends.

Personally I think JM has read the tea leaves and has called time. Mark got Condor to a point where we have an economic, derisked asset with lots of upside. It took longer than hoped but he did it, all credit to him. I think Jim weighed up committing more years to going into production in very risky and unstable markets verses selling now for a decent profit, and chose the latter. If they manage to sell for 50p+ then I'd accept that, put the rest down to experience, and hunker down for the approaching storm...

DD I think even good blue chip divi stocks will get hammered as markets continue to tank. I think taking a year out on the sidelines then looking to accumulate said strong divi stocks from next year onwards is a decent strategy. I don't think the dev will pivot like MSM keep telling us, inflation hasn't peaked IMO.

Honestly DD, I have no idea, there are just so many variables. I'd be "happy" if I could sell my holding for anything over an average of 50p - which is such a shame given the potential that we had here. Even if the asset is sold, how much of the cash will be distributed as a dividend? Will there be enough liquidity to sell any remaining shares for a decent price? In fact, if a company buys the asset for cash + shares that might actually be better assuming the company's shares have a more liquid market than Condor's.

Again, just so many unknowns at the moment. I'm also starting to worry about the markets in general this year, things look like they're going south pretty rapidly. I'll be in no hurry to re-invest if I can successfully offload my Condor shares.

My thoughts exactly ICB. One wonders why he wastes so much time posting here?!

AAZ closing price on 4th Jan 2022 was 107
AAZ closing price on 30th Dec 2022 was 97.6

But whatever, personally I don't give a **** about your trading account and have no idea why you come on here to talk about it. In fact, with all these gains you (supposedly) make, why do you waste time with a dog of a share like Condor when you could be lying on a beach somewhere given all your mad gainz?

Seingred AAZ is actually down -6.54% on the year, but well done on the others which should help to lessen your crypto, equinox and other losses.

Sorry I forgot to include in the crypto list (and after namechecking SBF!):

FTT: -98%!!

Condor is down 47% on the year, having suffered due to incredibly badly timed sanctions and the resulting fallout, despite finally getting the BFS out (with environmental permits all granted so basically derisked). Disappointing that we are where we are, but you're calling MC a charlatan?!

Well tbh I would say SBF is a charlatan so you must be implying that MC is another SBF? I suppose you could have sold out of Condor in early 2022 at around 30p and bought into cryptos (as certain posters on here were constantly pushing cough SEINGRED), and you'd now be down even more than if you'd just kept your money here. So do we really think MC and JM will do an SBF after encouraging long term investors to put money directly into the company so they can screw us and walk away with whatever funds they raise from an asset sale?! Personally I don't think so.

2022 was a crap year for most PM equity investments, here's a selection:

Condor: -47%
Calibre: -25%
Equinox: -46%
B2Gold: +4%
Newmont: -15%
Barrick: +1%
GDX: -5%
GDXJ: -9%

Oh what look at that - Equinox Gold down the same as Condor, whose top shareholders include Ross Beaty, Eric Sprott, Van Eck, ect. Are the Equinox management team charlatans also? I guess they must be according to the whining girls on this board. Let's look at the main indices:

FTSE100: -1% (largely thanks to GBP weakness)
Dow: -9%
S&P: -18%
Nasdaq: -30%

What about seingred's precious cryptos:

Bitcoin: -57%
Ethereum: -58%

Shocking. And good old PMs (which I hope you all own a decent amount of):

Gold: +1%
Silver: +2%

So for the rational people (still) here, let's hope we get some good luck and MC and JM manage to sell the company for $120-240m, and we get a nice dividend to walk away with. Condor was a high risk bet, we all knew this. It clearly didn't pay off in the way we'd all hoped for various reasons, though personally I don't include "fraud" as one of those reasons.

Good luck and good fortune to all in 2023.

EL actually they will take their gold price predictions from mainstream investment bank analysts.

https://capex.com/en/overview/gold-price-prediction

But in general, a falling dollar and stubbornly high inflation are strong tailwinds for the gold price. Expect it to challenge $2k again during the year.

Sorry to hear that H50, I received my full requested excess of 25,000 shares (allocated and funds taken). No idea why some got them but others didnt. Hope I don't come to regret it!!

JAllis, out of interest, how do you know MC didn't take any new shares in the placing?

And Biden don't even THINK about any more sanctions!!