Member Info for nero120

Currently up 8%

Absolutely, congratulations MC and Condor Gold! A fantastic achievement and one they should be proud of! Now, let's see if the market reacts to the news...

Well well. Bezzell I'll save you the time: "I can't believe anybody would actually believe that article. It sounds like it was written by Ortega's press officer!!!"

Personally I don't think this board is the right place to discuss Nicaraguan politics, unless it relates specifically (not generally) to Condor. However, I take umbrage at Bezzell and Seingred because they are seemingly offended when anyone is sceptical of their unbacked claims (and before you respond: "because [insert corrupt western institution] said so!!" is NOT AN ARGUMENT).

I don't have any specific bone to pick on either side, I'm self-admittedly ignorant of the true state of internal politics in Nic, but when I see discredited, corrupt western institutions spouting off about the next "Hitler" or making claims that sound like an excuse for western intervention my skin crawls, as it should any free-thinking individual who is not a sociopath - seriously, how many people have had to die because of these interventions? How many people would still live if it weren't for Iraq, Libya, Afghanistan, Somalia, Yugoslavia, Ukraine, etc, etc?? Of course I empathise with the people of Nic but my contribution to their wellbeing is in my investment in this company and the increased quality of life the company will help to bring to the local community and the tax income for the wider country. It is not my place, Condors, or anyone else's who is not Nicaraguan (IMO) to interfere with the internal politics of Nic, and I am very glad that MC and Condor as a whole have stayed fairly impartial on this subject. The PC was a resounding success and was not affected by the wider troubles, proof that Condor has gained the trust of the local community and the huge number of job applications shows that the relationship between Condor and the community will only grow stronger. If the people of La India are happy, then I as an investor in their community am happy, regardless of whether Ortega or someone else is sitting in Managua.

Anmesty? Free media? BAHAHAHAHAHA. Yes of course, NGOs and the western press are totally free and without political and ideological bias. Now let me get back to watching the BBC.

Haha seingred and bezzell you guys are hilarious: "Anything that isn't anti Ortega is propaganda (and if you believe it you're an idiot)! Probably Russian propaganda, the frickin Russians are coming!!! Isn't it obvious?!?!"

I guess we'll just have to take your word for it.

Her twitter profile says "Feminist & Human Rights Lawyer", Somna are you implying that she might not be Ortega's biggest fan?! :D

I contacted Mark this morning to enquire about the PC, he responded immediately and gave me permission to post his response (he even offered to call me, amazing CEO!):

The PC went well. There were over 250 people who signed the registry to attend, which is a very high turn out given there are only 330 houses in the village and some of the houses are vacant. The feedback is that they want jobs and want the mine.

The correct procedure was carried out for holding a PC. Condor’s management and social team are delighted we have done the correct thing:

- The inter-Institutional Committee of three Ministries was present. MEM, MARENA and INAFOR. Representatives from the two local Alcaldias were present.
- Banners were placed in the village a week before the PC.
- Adverts places in the national newspapers detailing the time and place of the PC
- Adverts made on the local radio announcing the time and date of the PC
- During the week prior to the PC, Condor’s social team visited every house in the village. Leaflets have been handed to every household explaining the re-designed mine plan and the Project.
- Presentations were made to key stakeholder groups. For example a presentation was made to 100 artisanal miners who are very supportive of the Project.

There will be an announcement next week that the company held a PC. I am finalising details.

Regards

Mark

This is excellent news! The ground work has been done by MC et al, we've spent much time and money helping the community and raising awareness of the benefits that the mine will bring, and listened to their concerns and grievances. It's now or never, hopefully the community will see through the anti-mining propaganda, accept the proposal and bring investment and prosperity to the community.

Exactly barnard. Great volume today, lots of buying and we've ploughed through resistance from a month ago. If we can finish above 37.5 today it would be a great signal to the markets.

Seingred what you need to understand is this board is for investors, it is not political. I have no doubt that we all want the violence to end and for the people of Nicaragua to once again be able to live in peace and conduct their affairs as normal. Beyond that, it's not my place to say what is best for the people of Nicaragua, that is for them to decide, they are a sovereign nation.

I personally am sceptical and extremely weary of westerners who cry out for governments to be overthrown and are then nowhere to be seen when the inevitably chaos destroys a once functioning society and brings upon it's people death, misery and in the case of Libyans, slavery. You have clearly decided that you want Ortega to go, as has Bezzell, and that's your opinion, but personally (and with respect) I do not think your political opinion in this matter is relevant to this board.

You mention the original protest about reforms and if it had gone peaceably then this situation could have been avoided? Read this Reuters article from April:

https://www.reuters.com/article/us-nicaragua-protests/nicaraguan-welfare-changes-that-sparked-protests-canceled-president-idUSKBN1HT0V3

It states that "Ortega has been on the defensive since demonstrations began in much of the country on Wednesday against the plan to increase worker contributions to social security and to lower pensions. Ensuing unrest killed at least eight people and sparked looting and panic buying, but protests in Managua died down considerably after Ortega’s announcement, according to Reuters witnesses. At least one protest march was planned for Monday."

So we have a situation where looting and lawlessness is occurring (as a response to government policy, not state sanctioned violence), and people are unfortunately killed when the government steps in, which then escalates the situation and we are where we are now. Who's fault is it? Well from here it looks like both sides have a part to play. Was Ortega too heavy handed trying to stop the looting? Were the "protesters" trying to incite any and all chaos and violence they could to try and bring down the government? Honestly I don't know but in all things the truth is usually somewhere in the middle. The important thing is that negotiations end the violence and restore peace.

As for MC, I'm sure that as he is an experienced and very capable CEO, he is not political and just wants the situation to clam down and peace to return. He will then deal with whomsoever runs the government at that point, banking on the fact that they will need investment and the continuity of one of Nic's biggest industries to cement their rule and enable the country to return to normal. And in the event Ortega wins, I very much doubt he personally cares, or even knows that MC once wrote in an email that it looks like Ortega's regime is ending, he is not being personal he is being pragmatic.

Which part bezzell? And which Nicaraguans should i speak to, the ones that support Ortega or the ones that oppose him? Obviously you have a bias, you want Ortega gone. I want the country stable again where pepper can live in peace and conduct business normally. Does that mean Ortega wins or the opposition does? That is very difficult to tell, but go all a Libyan whether they would go back to living under Gaddafi of they had a choice, or an Iraqi to live under Saddam. I'm not naive enough to think that calling for the end of a dictatorship works out well for the people, so I'm skeptical as we all should be.

And yet the sp stubbornly refuses to drop below 30p, no thanks to your efforts, and none of our major shareholders have sold. Clearly the market disagrees with your outlook...

Give it a rest Seingred, flooding the board with anti-government propaganda is not a contribution. Anyone with half a brain can see that these people are not "protesters", they are organised, funded and they are attempting to seize power from the government. Setting up roadblocks, violently suppressing commerce and threatening locals hardly classifies as harmless protests. Ortega is no saint, but do you really expect him to let these people seize power without a fight, especially when he still has plenty of support from the people? Either you have an agenda or you are extremely naive.

Condor were due to submit replies to 8 technical questions from MARENA by 31st May, but due to the crisis one of the consultants is 3 weeks late (the consultant doing an extra hydrology study for the tailings storage facility). Understandable to expect some delays given the current situation, hopefully the consultant will complete their report soon and Condor can submit their response to MARENA.

I followed up with a question regarding whether we can realistically expect permits to be granted before the election, here is his response (quoted with permission): The Ministries are still working and have made an effort to appear that business is as usual. The State is the employer at the Ministries and state paid employees have been working throughout the crisis. I am en route to Managua and have written formal letter requesting meetings with the Ministers at MEM and MARENA along with several other key people. Assuming a deal is stuck for elections on 29th March 2019, business normalises etc, one imagines the Country wants a massive sign of confidence, e.g. Permitting Mina La India is a solution: $120M investment, 800 jobs, $134M in taxes over 11 years. BUT is it is impossible to predict right now. I am told that mining is a top priority eg La India mine could add 0.5% to GDP and $10M in taxes a year. Logically, whoever is in power should want permits as whoever is in power faces a funding crisis and needs the employment, tax revenues. In many ways, one expects a very pro-business Government. I am doing my best to progress permits. Mark

Good for you Seingred, even though you feel the need to tell us repeatedly. Now, what do you say you give us all a rest for a while?

Halle are you saying that our charman and CEO is lying about the work going on to help improve the lives of the people in the La India community? Considering that £100,000s of share holder money is being spent in this regard and the IFC have verified this work that is quite a bold statement to make. I suggest you present proof of your claims or take your bs someplace else.

Yes very interesting article. To the casual observer, it doesn't make a whole load of sense that a peaceful country for decades suddenly erupts into civil unrest based on an isolated incident, however unfortunate. Social/political change is a process not a moment, and for unrest to just appear takes outside players fuelling the discontent with money, propaganda and violence (see Maidan for a recent example). The trouble with colour revolutions is that the more you use the tactic, the more people become aware that they are being manipulated (especially when the so-called freedom fighters are directly causing more harm than the government) and it loses it's effectiveness at winning over the people to support the cause. Not saying that Ortega is good, but there is no country out there were people don't take issues with their government (just look at what's happened to the UK lately!) but there is no excuse for encouraging violence when arbitration is not only possible but is being offered openly. With the low cost of doing business, low business taxes and the fact it's open for foreign investment I have to admit, I am surprised why they picked Nicaragua to attack. Perhaps it's Ortega's support of Maduro? Allowing Chinese investment to fund the canal project? One wonders...

Despite the gloomy mood there appear to be lots of buying which is supporting the share price: https://i.imgsafe.org/e4/e404a99723.png Far more buys than sells as you can see. The market appears to believe all will come good, I actually expected more selling than there has been...