Member Info for nero120

In fact, SOLG was also down YTD until the large jump last month. You really need to get some better arguments.

Seingred, whether aaz, solg or other gold equities have gone up or not is not the issue, the FACT is that the entire gold equity complex is down significantly for the year due to the large drop in the gold price. There are always exceptions, but the exceptions simply do not make the rule. I don't understand why you are unable to grasp this simple fact?

Seingred if you've sold then what are you doing here? Why are you so OBSESSED with trying to make existing shareholders sell up? Obviously you have a self serving agenda and everyone on this board knows it, pretty pathetic. Do you take pleasure in being a low life you spends their time trying to manipulate other people for their own personal gain? You must be a landlord as well I imagine, a boomer as well? Tell me I'm wrong.

Since you and shareminator seem unable to do even basic analysis, I'll oblige you. As I've already pointed out, 90%+ of the gold equity space are down significantly year to date, the reason for which is really not that hard to determine, yet the pair of you seem to lack the wit to see it. In April, the gold price peaked at ~$1355 and then headed downwards to lows of ~$1180, a massive drop. That's clearly what's hammered the gold equity complex yet the pair of you are unwilling or unable to even mention it.

If the drops in CNR were down to the situation in Nic then you would expect every other Nic gold equity would have also dropped heavily on news of the unrest, but that is NOT TRUE. I even mentioned before that golden reign ROSE after the news, which directly contradicts your claims. B2Gold has spiked back up recently since the gold price jumped back above $1200, again, refuting your argument that the political situation in Nic would dampen investment.

The market obviously doesn't care about the political situation, and our key investors haven't sold either. The question at the moment for us is what MC has planned to raise money next year for the build. He's already mentioned that he would prefer a gold producer to purchase a stake but that remains to be seen. Any claims that no investor would touch Nic right now due to political unrest is purely speculation. Much of the world where gold mining is done is politically uncertain yet investment continues as the potential rewards are huge (look at what's going on in south africa for crying out loud!).

For now, give us all a rest and go back to watching your BTL portfolio decline.

Shareminator do us all a favour, go and look at a chart of Gold futures, GDX, GDXJ, or pretty much any other gold equity, and what do you notice about their year to date performance? Yep, they're all down significantly! But of course, that must be due to the unrest in Nic, right Sherlock? Move along....

Strange then how Golden Reign Resources (TSXV:GRR), a junior explorer based in Nic of similar mcap to ours, don't seem to have suffered either under the political situation. In fact, their sp spiked up in May (yes, it actually ROSE months after the unrest started).

Again, our sp has far more to do with the lack of interest in gold equities than the political situation in Nic, and comparing it to Syria or Yemen is just downright idiotic.

Anyone able to watch the stream?

What do you mean awax, a market cap over £0.5 billion is completely justified!!! Crazy stuff, but that's what you get when the momentum chasers pile in.

What is funnier is that we're clearly on the brink of a global recession which will tank copper prices, what will hold up the price when the world is forced to deleverage and credit becomes scarce? Gold has a far better fundamental picture in my opinion.

"BHP Billiton has taken a minority stake in London-listed SolGold as it steps up the hunt for a new source of copper.

The FTSE 100 giant has bought a 6.1pc holding in SolGold from Guyana Goldfields for a total sum of £27m, paying 26.6p a share - a 20pc premium to its closing price. SolGold is exploring the Cascabel copper-gold project in northwest Ecuador, which is thought to be a highly prospective deposit."

SOLGs share price is now above 38p up over 12% today. If Mark can successfully arrange future funding via a major taking a stake could we see similar rises here? All it takes is a little volume...

Seingred, the price of gold was over $1350 in April and was subsequently smashed down to $1180 which also brought down the miners (i.e. the GDX), and thus B2Gold. The move had everything to do with the price of gold (more specifically the US dollar) and NOTHING to do with any situation in Nicaragua.

Understand something, from this basic analysis it is clear that the market doesn't give a crap about the situation in Nic, yet you seem fixated on this! Honestly, just get over it, because the market clearly has (if it ever cared in the first place).

You probably already know my view but I don't think MC or anyone else could have done anything to improve our share price marketable in this bear market. In point of fact, their efforts in keeping Condor solvent and progressing have prevented further drops.

M&A activity whilst not completely dead is barely ticking, which is amazing considering the majors are depleting their reserves constantly and rely on acquisitions to replace lost resource ozs. You'd think they'd be hoovering up juniors whilst the gold price is low and explorer market caps are in the toilet, but I suppose historically majors are not particularly astute and tend to pay top dollar for their acquisitions rather than buying when cheap.

This is actually better for us in the long term, but we just need this damn bear market to end first! With the Fed raising rates and reducing their balance sheet, they are no longer a buyer of bonds which is causing bond yields to increase and leading to blow ups in emerging markets and currencies. Once the other central banks inevitably follow suit (if they don't want their currencies to be trashed) we will start to see some major blow ups which should absolutely push money back into gold. It's tried a few times over the past few years but the rallies stalled, times are different now so the wind is actually in our favour, just need to be patient.

The only real risk factor for me is the trouble in Nic, I'm not entirely sure how the possible outcomes will affect Condor and that is disconcerting. Though admittedly, this is a constant risk for any resource explorer in developing nations, we are no different to many others in this regard. Also the fact that B2Golds sp has not tanked since the trouble started (it's sp basically tracks the GDX) leads me to believe that the market doesn't see too much investment risk despite the political issues.

Exactly Jibbo, it's general sentiment that determines sp for the most part now not individual fundamentals (as I've constantly tried to reiterate here).

However, money does turn heads and if MC manages to secure funding within the next 6 months for the build via a JV/partnership with a medium/major producer then I would be shocked if our sp didn't react positively to it. As ElectricLion states, one would expect CNRs sp to increase to factor in build/production, but in HUMs case I would imagine the income from the producing mine was already factored in, and has subsequently stagnated along with the rest of the market.

At least you didn't sell out to buy altcoins... ouch!

Key takeaways for me:

- Condor are funded through this year and "some of" next year to carry out BFS *AND* add another million oz to the resource.
- Will need to raise money after that but Mark's preference is to get a major producer buy a stake in the company *at a premium* to provide funding rather than a straight placement...

https://www.youtube.com/watch?v=gb7MDBDg_AY

If GDXJ represents the junior gold mining space then in percentage terms we are not - on average. I'm sure there are exceptions (like SOLG), but that would not be a fair comparison.

Was just doing a comparison of CNR against the GDXJ (LSE) share price since 2016 and it's quite telling how aligned both are in percentage terms, take a look:

https://ibb.co/jhFH2p

I've mentioned this multiple times before and other LTHs have dismissed this, but I think this demonstrates that our share price is currently determined by the general state of the junior gold equities market, not by the specific news we've been putting out, or even by the political turmoil in Nicaragua. That may be hard to accept (for some), but it is not an irrational proposition, given the chart above.

What does it mean going forward? It means that unless something amazing happens to bring in volume outside of ordinary junior gold equity investors/traders (such as news of a merger/buyout), our share price will continue to track the wider junior gold equity market. Also worth bearing in mind is that there is currently a major trend (especially for retail) in investing in ETFs over individual companies, which could also dampen investor demand for companies that are not part of a popular ETF.

However I think that if we are patient, money will return to the gold market and when it does we can expect a re-rating. Condor is a well run company and we have weathered the worst bear market in decades thanks to great leadership. Of course, there are always lessons learned and things that could be done better (such as marketing the company), but I maintain our largest issue is that the market simply does not want to place capital in junior mining companies at present. It presents a great opportunity for those that want to lower their average or increase their holding. As it has been for a painful few years, we just need to hold our nerve and be patient, because once big money starts flowing back into junior goldies...

ddd if we can be producing by 2020 and paying a divi then investors will pile in. I'd buy that for a dollar!

I shouldn't need to point out that there's a huge difference between Venezuela and Nicaragua seingred. Besides, I don't think our current share price issues are really due to the abating political situation in Nicaragua, but more due to the extremely strong dollar and gold equities bear market. Said it a million times in the past but until we see big money coming back into the sector we won't see volume return to push the share price back up to previous highs. All we can do in the meantime is press on in exactly the strategy that MC has been pursuing: de-risk through permitting and prove up a 3m oz resource, demonstrating a 5m oz gold district.

It's called a bear market Girdz, and you've held your investment all the way through it, like the rest of us. Until the big mainstream money wants to invest in gold equities again expect the low volume and muted response to good news to continue.

Many have been calling the bottom in this bear for a while, and it seems that finally the globally available, free money is starting to dry up which is causing stock markets, property and bonds (especially junk) to peak. As this process continues more and more institutions will look to reduce their exposure to overvalued and risky assets and look to alternative investments. It may still take some time, but the current macro trends are positive for precious metals and pm equities.

The best thing to do is continue to de-risk the project and develop the asset, and wait for the big money to start moving back into the sector before looking to sell. If we sell before this then the last 7+ years would have been a waste of time (as far as shareholders are concerned).

Seconded patryk, glad to see you're still in the fight!