Member Info for nero120

Bottomzup, and for the benefit of all shareholders, we absolutely move with gold, and here is the proof:

https://www.tradingview.com/x/HjEIydEF/

That's a daily chart of CNR overlaid with the HUI gold BUGS index going back to 2011. The correlation is unmistakable. Just to take one example, look at early 2016 when gold popped from $1060 to $1360, and all gold equities moved strongly upwards including Condor. Also, we see movements on the back of gold price in early 2017, late 2017, etc. What this shows is that Condor does move with the gold equity market, and that moves with gold. They don't track it, correlation is not one to one, and depends on market appetite for exposure to gold equities.

We have since diverged with the market around late 2018 which was a few months before City Financial and the IFC announced they had sold their positions, so it seems reasonable that they are the cause of the divergence, as no other news came out around that time to cause investors to sell.

If the above is true then at some point we should catch up with the market and move back above 40p once the overhang of shares has found a home and the correlation should resume again. A strong gold price will help to make this happen sooner rather than later.

Being angry with management for a falling share price when the entire market has been falling is short sighted, especially when they've made good progress in developing the resource without undue dilution, no mean feat in a bear market. We can be dissappointed that management have not been able to beat the market and increase the share price (look at SOLG for a good example around mid-2016), but if big money doesn't want a piece of our resource then there's not much management can do to court their interest, aside from offering to give the resource away for a pittance which no shareholder would benefit from.

Ok thanks for clarifying RothRock. Either way, it was a great vote of confidence that the Sprott name was associated with Condor, if the KCR fund (Katusa/Casey/Rule) hold our shares then that's even better, with Beaty added to such a famous list of names in the mining business.

I really do appreciate (and share) any frustration with the share price here, but anyone blaming management for the market's lack of interest despite obvious progress needs to look at that list of names again, and if you don't know who they are you probably shouldn't have invested in the gold business to begin with.

Bah! :/

The starred word should read "**************".

Thanks RothRock, great info and absolutely agree with much of what you've said. I've held with Condor through the bear market in gold to capitalise on the huge upside when gold is in a bull market once more and gold equities are bought up by large institutions, who have all but abandoned the market entirely. From that perspective I'd be more than happy with a ************** with a well known gold company rather than cash.

Just wanted to pick you up on one thing, I knew a fund managed by Sprott Inc had taken part in the placing when Beaty bought in, but I didn't know this fund was Rick Rule's KCR fund (the original RNS never mentioned this). Do you have a link that you can share that can confirm this?

Actually re-reading that, they are buying an immediate 100,000+ oz of production for at least the next few years, so I suppose that *might* make sense. But those mines are under capacity and they will need to continue exploration and permitting to get more ore processed, otherwise they will need to look to permitted companies like Condor to increase their annual production.

Yes interesting news, and very good that B2 have invested in Nic rather than leave - that should reassure any investors that were worrying about how the past political troubles would affect business.

What I don't fully understand though is why Calibre have bought El Limon and La Libertad when from what I can tell they only have a fairly low grade resource (no PFS/reserves), and both mines are currently operating under capacity. They are many, many years away from getting their ore to these mines, so why merge now? If anyone can add some clarity for me I'd appreciate it.

Also, not sure exactly how the news affects us, however if what I've stated above is true surely they would very much appreciate permitted ore to process from day one...

Seriously you need to learn to read, I said it moves with gold, not it tracks gold. I really don't think you know the difference.

You said:

"Well don`t forget I am still holding here, and have been for more than two years, with nothing but a falling share price.
So if I want to vent my feelings about what a disaster it has been, and is, then I will. After all, the reason you don`t like hearing what I`m saying is because its the truth.
This has dragged on and on and on with nothing but hope that one day `something` will be announced to move this project forward.
I was hoping for a small bounce with todays RNS, but alas not a bean...nobody`s interested. If it had bounced I would have sold and left the discussion, but as it stands this bag`o`shyte failure is still eroding my hard earned funds, so as it stands I`m entitled to make my comments."

That reads very much to me that you're whining about the share price, and nothing to do with "alluding to particular delays coming from the horses mouth (RNS)", sounds to me like you were "alluding" to the time you've been here which is two years as you stated literally right beforehand.

Oh look on the bright side, you got your "small bounce" today (5.8%) up, weird though cos apparently "no one's interested". You know I remember a well known gold fund manager say a similar thing a few years ago about gold, not sure why it just came to mind, probably not related to this at all...

Bottomzup are you seriously trying to say that there has not been progress despite a huge desrisking by being granted the environment permit after years of work and effort?! JHC, you are a piece of work.

Sorry Condor employees, all that work you've been doing for the last few years has all been pointless, a huge waste of time because Bottomzup says so...

Chart for CEY doesn't look great over the last 9 months mate, and would have looked a lot worse were it not for the big rise in the gold price. Not sure why you'd want to mention that?

Wow. Why do I even bother...

Bottomzup:

"This has dragged on and on and on with nothing but hope that one day `something` will be announced to move this project forward."

I guess being granted an Environmental permit to develop, build and operate a 2800t per day plant and associated mine site infrastructure is not material to moving the project forward?!

Frustration regarding share price is understandable byt lying about the lack of progress by the company is not welcome and I suggest you refraine from posting such in future.

Tester. Condor moves with the gold price, as do all mining shares. If gold goes up and investment moves into the sector, we will go up and down with it, as we have always done. Yes, cash flow would be a wonderful thing and I'm sure MC is working hard to get this going, he has stated multiple times in recent presentations that this is his top priority.

Condor's share price has dropped recently due to two large IIs liquidating their holdings due to reasons not related to Condor. I get that everyone is frustrated, but let's not start talking utter nonsense hey?

Sad to see frustrated LTHs selling up, totally understand but considering gold is finally breaking out after a long bear market to sell up now after holding all of that time, and right after those IIs sold up dropping the price is more than puzzling to me... Anyhoo, each to their own and good luck with your future investments.

Not sure what the issue is? The RNS confirms that progress continues in permitting the feeder pits, we already know that EIAs are large detailed docs that take time to produce. No surprise there.

Regarding the mine build, we were granted the Environment permits to construct and operate the mine on the condition that mine build started within 18 months of being granted the permit. The RNS says that due to delays out of Condor's control this is unlikely to occur (due to incomplete land aquisition and engineering designs not finalised) and therefore they will be requesting an extension. I suppose the drop is because the market doesn't like the delay or thinks we won't get the extension?

In any case, if we get an extension then it takes the pressure off to rush into a deal to finance the mine build. Stuff like this is usually subject to delays, really not surprising.

24-Jun-19 16:09:38 20.50 250,000 Sell*
24-Jun-19 16:13:08 20.00 250,000 Sell*

Another sell of 250k @ 20.50p has appeared from yesterday afternoon. Suspect there are orders being filled using the shares sold by IFC/City Financial, MMs must still have more to shift and are making a tidy profit by selling at 20p.

Until the float clears we'll be stuck in this slow upward trend, however I suspect a major correction will occur once the MMs have sold those shares and if the gold price continues to gain. We were pretty unlucky to see two IIs seel their holdings at the same time, right when the gold price started to turn off it's lows. Bet MC is livid.

Odd how we've dropped so much on tiny volume.

I can also say that discussions between Condor and B2 continue on a whole range of options/possibilities, so clearly not just toll mining...

Simms, I asked MC about permitting the feeder pits in my last communication with him a week ago, he said that "the technical studies to permit the feeder pits are ongoing" so apparently the permits for the feeder pits have not yet been submitted.

Seingred is happy with 80p a share? Well then let's sell up, as long as you're happy. Better get comfortable because no one is selling to B2 in the foreseeable future. Key investors know the potential of our concessions, no one is giving this away in a bear market.

Sell the company for £1 a share?! Haha sure I bet MC, JM and RB are itching to do that deal and take a cheque for $4m, $8m and $5m respectively! Oooh big bucks! What a great reward for decades of hard work! Honestly I really can't tell if you lot are being serious...