Member Info for nero120

Right right. Well if id lost faith in the CEO of a company I was invested in, I would sell since there is no guarantee I would get any money back if I stay invested. Sounds to me like you're just another moaning hypocrite, you have plenty of company it seems.

AF I take it you're no longer invested here then? After all, what does it say about you if you continue to invest in a company run by someone who you consider to be "naive, stupid or devious"...

Andrew none of us have any reason or knowledge as to why it hasn't happened, it's just pure speculation. You say MC can't see the wood for the trees, I would disagree and say he's a very pragmatic CEO and has been pushing for a toll milling deal for the longest time. Why it hasn't happened yet - who knows!

EL if Condor have made it through the last ten years then they aren't going bankrupt, Calibre would know this. MC and JM are majour share holders that will not sell Condor on the cheap, and frankly I don't think Calibre are even in a position right now to acquire us or able to sell it to their own share holders, especially when Condor do not have cash flow at this time.

Many ducks need to line up to make an acquisition viable, the fact that we haven't even got a toll milling deal is telling - I would love to know the real reason for Calibre not to have moved forward with this as yet (given the above). What we know is that MC has had many meetings with Calibre senior management, a toll milling deal was presented by MC in December but what happened after that I do not know. If the deal was accepted then MC would announce it, if the deal would not be accepted then why would MC offer it? Surely this would have been evident from the meetings. Perhaps it's just internal Calibre process/delays/issues or maybe they are deliberately playing games - but then how would that benefit them? Condor are not going bankrupt and will build the mine, and in the process Condor may pull the offer of toll milling. So many questions, so few answers!

Agree with EL. If Calibre want to grow production then they will have to invest in plant and equipment wherever they go, unless they can materially expand current resources in and around their existing mines in Nic. I don't think that would hold them back from purchasing Condor, and besides providing jobs is a big part of having a (social) license to operate. The questions for them are:
- what is the cost of acquisition and what are the total number of ozs that they are buying
- what is the AISC for production
- what are the risks

Given the above and balancing it against other potential targets, if it makes sense to purchase Condor then they will.

What are the bets, will MC drop the BFS next week?

Seingred that's also a concern I share, but I'm not as down about issuing equity as many others here seem to be if it actually get's us to production - that's how the junior mining business works. Of course I want dilution to be minimised but without issuing equity we probably won't ever get to production!

The good news is that it does appear that we are very close and so if we do need to do one more raise to get there then fair enough, it is what it is.

EL once you have an FS you are able to borrow against future production, so the question then is why would you then choose to issue equity to fund operation rather than debt? I would expect that once funding has been secured it will include enough additional working capital to get us to production, and that dilution will no longer by a concern.

The big question is how much dilution we suffer as a result of funding the mine build. I know that Mark is doing everything to ensure that dilution is minimised but we'll have to see what he comes up with. Right now there's not much point in speculating until we get the FS, then I hope there will be a slew of positive news.

As an aside, the metals prices are flying with gold at all time highs in all currencies, but investment in the mining equities is still **** poor. Majors are no where near the all time highs from 2011, mining equities are still hated and Condor is held back by the sentiment as much as the rest. We need a good old recession to crack the major indices and break the back of the bulls, only then will investment captial look seriously at mining equities again.

Good news for us is that Condor has far more upside that downside from here, hopefully the FS will trigger some volume and get us back over 50p in the short term.

Seingred as amazing as it may seem gold equities doing well is not about gold - in this environment of central bank liquidity, negative interest rates and momentum chasing fundamentals simply do not matter. The gold price could go to £3000 and as long as the factors I stated are still in place you would see only marginal capital flowing into gold equities.

For gold equities to do well those factors I stated have to end or be severely reduced, only then would global capital seek to get out of the current investment trends and look to alternatives. Faith in central bankers must collapse, inflation will see to that in due course. Fear must literally run greed out of town. When that happens, then we'll see gold equities fly like cryptos. It may seem extremely unlikely, but I think it could happen quicker than many expect. With Russia invading Ukraine and the west doubling down, we are in a new paradigm. All bets are off. I wouldn't be surprised if a year from now, the world will look very different to how it does today.

If we are honest with ourselves we knew this funny money era couldn't last forever, it was just waiting for the right catalyst. I would say a war between major powers fits that bill.

...until FS deadline! A key time for Condor, in normal markets this would be game changing but these days who the heck knows! Looking forward to reading it regardless. I also want to see funding secured shortly after. Toll milling is out there, all it needs is for Calibre to say yes, not sure why they're holding fire.

With the imminent end of the post-war liberal order and globalism definitely dead as a duck, inflation is exploding and supply chains are cracking. How much longer can the zombie western financial system survive by pumping more and more debt? Not to mention the Russians have finally called time on western (US) imperialism and the bear has woken up and is showing it's claws. Whether you hate Russia/Putin is irrelevent, it's here and the imasculated west can do nothing except talk about sanctions (whilst allowing Russian energy/food/metal exports to continue unhampered).

We are in a different world now, but a world where gold should do well.

DD, the gold price showing strength is definitely good (about ruddy time), but the real cheese will come if/when the hot money rotates out of tech and into commodity stocks. The amount of money invested in commodities is a rounding error right now, if even 10% of available captial rotated then you could bet good explorers like Condor would go sky high.

Fundamentals are so off right now that we are playing with crumbs off the main table. If we want to do well here we really need that capital rotation to occur and a commodity super cycle to get rolling, and soon.

Here here CCC. Honestly, I cannot wait for the FS to be published (next month) and funding announced (soon after hopefully) because finally the project will be completely derisked and we'll know for sure the project economics along with debt and dilution. No more BS, no more land issues, no more derampers. If calibre agree to toll milling then great, but if they don't that's more future cashflow for us.

After 10+ long years here all longterm holders will finally have a degree of certainty about what we've invested in.

Simms add to that funding secured for mine build which should hopefully follow shortly after the FS is published. Next month will be pivotal. Gold also looks like its itching for a huge run now that inflation has finally started it's run for this credit cycle ("to the moon" they said, only they didn't realise it would be inflation!).

Yawn.

Fantastic response EL!

Webinar replay link: https://event.webinarjam.com/replay/446/pyr8gu20i89i18fm7y

Down nearly a penny on less than 30k volume. Condor gets walked down by MMs on low volume, for whatever reason. However, what we've always known (and what was demonstrated on Monday) is that Condor absolutely rockets on decent volume. We were 20% up on just one day of decent volume, on no news. What kind of volume could we expect if a toll deal is announced, or when BFS/mine financing is announced - and what would that do to the share price?

I think most of us LTH have held and resisted trading mainly because of this reason. When the game changing news (finally) comes even you're in or you're not. It feels like we are very close now, despite the horrendous appetite for mining shares. The last few days have just been red across the board! You'd have thought that with raging inflation investors would be a bit more likely to sell risk assets to move into commodities, especially precious metals! I can only think that risk investors will resist as long as possible until finally inflation is out of control and then there will be an almighty rush into PMs/PM equities and then the fun really begins.

Condor Gold changing it's name to "Crypto Gold"? :D

Indeed Scotty, 28.5 was the low but the technicals suggested that wasn't particularly strong support so I feel so for those who were waiting for a lower buy in price. Don't you just hate that feeling when the price is running away but you're not sure whether to chase it higher or wait for it to run out of steam?! Decisions, decisions.

So then news definitely coming - what could it be?

So Noel, I'm guessing one of those buys at 28.5 was yours yeah?

https://www.youtube.com/watch?v=Gp5bua7sIJg

Not often we see interviews with other Condor managers, well done Silvia!