Member Info for nero120

RR I didn't call you thick, let's just leave it as I think there's more to investing than simple financial gain. Apologies for any offendse caused.

realranger:

- Charity: so just deligate to someone else to "make things better"? Well actually I think organised charity is big business and has to be one of the worst "returns om investment" in terms of getting money (captial) where it needs to be, let alone the absurd western virtue-signaling attitude that all one has to do is throw money at someone and it "makes the world better". No thanks.

- "Nothing to show for it". Again, you're not listening (or don't understand). Doing things in the "real world" doesn't necessarily mean you become a gazillionaire overnight, it involves time and risk and there's not guarantee of financial reward, but to say we have nothing to show for it says to me that all you care about is getting paid. No need to for to invest here then, go buy cryptos or some other equally vacuous enterprise.

- Mining is one of the worst examples?! Geez. I hate to tell you this but pretty much anything you do in the modern world involves digging elements out of the ground. So rather than investing in comapnies that do this activity as well as possible and with as little environmental impact as is possible (and not to mention with the buy-in of the local communities), you're suggesting we all completely stop investing in mining companies because it's "the worst"? Well bye bye utopian dreams of electric cars/renewable energy/living on mars/etc oh yeah and anything requiring base metals. So back to caves and foraging then yeah? Do you work for the world economic forum or something? With opinions like this you could do well there. And I'm not even going to bother getting into why gold is essential to civil society as the only sound money (not including silver) we have, or it's valuable role as conductor for industrial usage....
- Why not prove these up years ago: Because no one was willing to invest during a deep bear market, and to raise the captial to do all that drilling would have resulted in massive dilution. MC ran the company for the benefit of all of us shareholders, minimising the dilution of our investments and waiting to opportunities to raise capital that would materially improve the fundamentals of the company at the right price.

When I first invested in Condor I knew nothing about gold, mining or macro economics so I'm willing to give you the benefit of the doubt. But over the past ten years, through curiosity and a new awareness thanks to my investment here, I have learned so much about all of these complex subjects so if nothing else, I have grown as a person and that is far more valuable than any monetary gain (or loss). I would kindly suggest that you take the same opportunity I did...

Has Condor underperformed against similar mcaps in the sector then?

Also tester, frankly the fundamentals here never mattered to the share price, it was always about wider sentiment in the gold market. That's why the share price dived in 2011. It also means that as you say, drilling results don't matter, nor much other news about derisking, it probably won't result in a material gain for the share price.

However, if the gold bull market starts then Condor being an explorer on the cusp of production and incredibly undervalued with not many shares in free float will rocket like you;'ve never seen, and none of it will be for fundamental reasons, purely due to the momentum in the wider sector. Considering all the talk of imminent inflation and the end of the risk-off cycle and start of the commodity bull market, are you sure that the Condor share price has no chance of moving up until we actually enter production...?

"Ten years to prepare for the next gold bull market"

I think that's incredibly unfair tester, and undermines the incredible work MC and co have done to survive the harshest gold bear market in decades. We could have gone bust, been diluted to hell, made no material progress, etc. But no, we have issued a reasonable amount of shares (as any well run explorer should) whilst maximising our ability to progress given those financial constraints. We have navigated political risk (both national and local) and come out of the other side intact and stronger and much closer to the end goal. I don't think anyone expects an explorer to have to go to production to reap the rewards of effort but sadly that is the modern gold market - no one is willing to pay what's fair for the time, risk and capital required to prove up a world class gold resource, especially on AIM. Thankfully our board are not willing to settle for peanuts and are going all in, and all i can say is hell yeah bring it on.

I'm very sorry that all of us long term holders had to endure this bear market with lackluster gains in share price, but that's on us, not MC. We had a choice and could have sold out and bought bitcoin or tesla or some crack house in dagenham at any time and captialised on the madgainz from those bubbles, but we didn't. We made our choices.

Frankly I'm excited that in our own small way, we are contributing to the effort to build a real gold mine that will materially and fundamentally improve the lives of the community of La India. What do the crypto people have to show for their efforts? Or the BTLers? Or the other bubble chasers? They are merely contributing to the problem and as long as they get rich for doing nothing they couldn't care less about the consequences of their actions. Whilst we are all ultimately in this for reasons of self interest, at the very least we here are contributing to a worthwile cause that actually creates wealth and prosperity in the real world, not prancing around in the clown world that seems to be consuming everyone and everything around us in the west. To be quite honest, that thought helps me sleep at night and when my kid asks me why the world is so messed up i can look at him with a straight face and tell him I didn't contribute to that madness and tried to be a part of something real that would improve lives. Whether that results in financial gain for myself I guess we will still see, but whatever happens, I made my choice and I can live with it.

We know that MC is not one to overstate or mislead, if he says that land is not an issue then he must be 100% confident that the land is as good as ours. What the specifics are regarding that position well we don't know. It's one of those situations where either we trust him and believe what he says or we don't.

For those of you who haven't heard of him, have a listen to the CEO of our newest institutional investor and the guys who sold us our SAG mill:

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

If you cant see how ridiculous that statement it then im not sure what to say. Cryptos are probably the biggest speculative bubble the world has ever seen, fueled by the coordinated hyperinflation of western fiat currencies. How many people in history came out of bubbles with their shirts intact? You seriously think this time its different, or maybe you're smarter than people like Isaac Newton? Perhaps you are, good luck, but personally I think you're all delusional. Then again, maybe you're all sane and I'm the one whose insane. Time will tell I guess...

Cryptos at $2T in plentiful supply whilst gold and silver prices tread water whilst becoming unavailable tells me one thing - fiat currencies are effectively dead and worthless.

Cryptos are doing a great job hoovering up liquidity to slow down consumer price inflation, but there will soon come a day when gold and silver can no longer be purchased at all in fiat, and your Cryptos though priced in the trillions will not buy you anything.

You guys reckon you can call the top and nail the timing of that trade? Maybe you will...

But surely market forces apply to refiners as well, there is no law that says that they have to sell only to bullion banks - why don't they just sell to the highest bidder, like in a real market?!

Tbh I'm over it tester, the gold "price" is the price of a criminal's promise to deliver metal in a land of lies. Honestly I don't know why it's not lower. It bears no reflection to the price of physical.

One thing I would be interested to know is the process by which gold miners sell dore - do they sell to refiners or are they forced to deal with bullion banks? Is the price of dore set by the futures market or do they negotiate a market price with the purchaser? Despite all the years of following this market I've never heard anyone ask these questions or offer answers. Personally I think that's more relevant than when people talk about premiums of retail products. Maybe Mark can tell us after first pour!

Yep, but in my opinion they won't allow a system crisis like this to occur. Central banks have committed (with gov blessing) to sacirificing their currencies in order to save asset prices. Now that the precident has been set they will print and print and print to throw currency at any looming emergency. There will be no raising of interest rates at the first sign of inflation, in fact they will print even more. All the while the futures prices of all commodities (especially gold and silver) will barely reflect the astronomical inflation of global money supplies, yet the commodities themselves will become scarcer and scarcer.

We are in clown world now, but in the coming weeks and months things will get even crazier.

Indeed, sitting on your hands can cost, but trading can cost even more... At least here we have a well run company with a great chance of huge income in a year or so. That may not matter in the bitcoin/tsla/NFT/etc clown world market we have today but oh well, I'll just have to cry into my dividends once we're pouring gold.

Agreed Simms. Also the thing is the actual share price makes near as no difference, Jim is effectively bank rolling the project to production and the cheaper the share price the bigger the share of the company he owns when it comes time for the next private placement. Jim (and say MC) can name his price to Calibre because there is simply no way they can buy the comany without him being on board, again, the share price makes no difference because Jim is clearly not selling (for now).

Calibre do not benefit in any way by playing games here. Either they want the toll milling deal or not, and if so the rest is down to negotiation of the details (their cut of the profit, etc). All of this "they don't want to do a deal to keep Condor's share price down so they can buy them cheap!!!!" simply doesn't stack up.

Remember occam's razor, the simplest explanation is usually correct, that being that Condor and Calibre have not yet come to an agreement regarding negotiation of the toll milling deal.

Somna is just letting us know that Nicaraguans are passionate about "equality" clearly reflected by the amount of women who are artisinal miners, risking life and limb alongside their male counterparts. Stunning and brave!

Tester, Calibre have to know that if they want to buy Condor they will need the blessing of the largest shareholder and personal bankroller to Condor, Jim Mellon! The float isn't large enough to buy enough shares (without driving up thge price substantially) to work an aggressive take over, and there's no way Jim or Mark will sell the company on the cheap. They must also know that Jim is close friends with Mark and given his history with the company will put enough money into Condor to prevent it failing, so I'm not sure your scenario fits. If they cannot win over Jim for a buyout then there is nothing to discuss, in that case why not just agree toll milling since both parties win?

I suspect the reason is more mundane and to do with technical issues/profit sharing/capacity/priorities/etc.

On that (divi), that's what I'm focussing on. I just don't trust the "market" to price anything correctly (60k for a bitcoin?! JHC), and probably hasn't for well over ten years now. Will our share price rise, yes probably, but I see two possibilities:

1. Our share price will rise but nowhere near as much as is justified by fundamentals
or
2. Our share price will rise astronomically well in excess of what is justified by fundamentals

I'd love for 2 but I would err on 1. Gold mining equities have in general undefperformed vs the metals so until that trend changes we cannot realistically expect the market to price us fairly. However, what we can more confidently predict though is profit, and if when we start production our share price is under what is should be then we can expect dividends to make up the difference.

The caveat here of course is that the market is so unstable that anything could change at any moment. All this talk of inflation could bring back the bond vigiltanties and kick off an equity bear market and commodity bull market - but you can bet your ass the central banks will do everything to prevent the cycle ending. If/when it does change though, I bet it will be very quick and no one will have the chance to reposition.

That aint the half of it ISA, do a bit of research on Keith Neumeyers other gold company, First Mining Gold. Could bode well for a future acquisition/jv now that we are on the radar.

Regarding the "inflate to deal with debt" theory, well that only works when at the same time you stop the debt pile growing any larger, which essentially means massively reducing public spending!! If you don't do that then it's a short road to hyperinflation. If we don't see governments reigning in spending and deficit neutral within the next few years then we'll know the outcome. Either way, eventually prices of commodities and especially precious metals must be let loose in accordance with that baked in inflation.

Looks to me like someone is desperate to cover shorts with as little loss as possible before inflation kicks in and metals rip higher. Financial markets are now beyond a joke, there is no price discovery and no one has any real idea of the scarcity of commodities. We may as well drop the facade and set prices by committee since we're so desperate to become the soviet union. All it means is that gold and silver will become unavailable since no one will sell them at the official price. Welcome to clown world.