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The gold price is $500 higher than when the company first announced the plan to sell the assets in Nov 22. The NPV of the upside scenario was originally stated in the sale teaser doc as $418m @ $1700/oz gold price.

So what is the NPV at $2200/oz, given the total LOM profit is now $1.6 BILLION vs $930 MILLION?

The longer they drag this out the more they're going to have to cough up! $100m? Don't make me laugh!!

Surrey, potential acquirers might make the argument that the avg share price for Condor over the past year is around 20p, why should they pay much more than this? Two points stand out to me:

1. The NPV of the assets (depending on scenario) considering the avg gold price over the past year is in the many hundreds of millions of dollars. Even accounting for cost of mine build, the net value is many times higher than the current share price.

2. If the acquirer were to attempt to buy enough shares on the open market to attempt a hostile take over, what would the resultant share price look like (I would suspect it would be far closer to that of option 1 above).

I think the reason that negotiations have taken so long is due to the simple fact that these potential acquirers thought they could purchase Condor's assets at bottom dollar, and it's taken some time to get to the point where they have accepted they are going to have to pay "fair value". Now, what exactly fair value looks like we will have to see...

Slippery you're right of course, I apologies. That was a moment of weakness on my part!

Ah the Seingred self-congratulating, human money-making machine is never far away! If only we could all be so amazing, one can dream.

Were you at the exchange sakura? If not it's just yet another thing someone said on the internet, regardless it changes nothing. We continue to wait for news of a deal.

Hang on sakura, so out of two people that you do not know:

You are sure that the first has no reason to not be telling the truth despite non stop complaints and negative posts for the last god knows how many years.

The other you're more sceptical of despite the fact he has single handedly kept you investment alive and is currently working hard to get a decent price for the company's assets?!

Posts on this board never cease to amaze me.

Sorry Punter, just so I'm clear, which mining explorer CEO are you comparing MC to? Unless you've been following a different sector to me the entire gold sector has been crap since 2011. But don't let facts get in the way of a good moan.

However I agree, I am looking forward to this journey being over very soon hopefully.

The thing is, Jim is a *billionaire*! We, and everyone else knows that he could fund the mine build out of his own pocket if he wanted to. And that is the fundamental factor in these negotiations, he simply says to any producer that is seriously interested in the assets:

"Make it worth my while or I'll build the bloody thing myself. I did not invest and tie up tens of millions of pounds just to give these assets away to you people!"

So I think the negotiations have taken longer than expected due to finding the price at which both Jim and the buyer are content.

For the record I think this would be 60p MINIMUM, but of course I could be wrong. I just don't see Jim giving away billions in expected NPV for peanuts.

$2183! Look out above!

Both in USD and GBP, as well as plenty of other currencies. Condor's market cap spiked to £60M+ back in April/May 2023 when gold rose above $2000, yet here we sit at a £40M market cap with gold flying.

Come on JM/MC, get these assets sold!!

Simms re Calibre, I wonder how happy they would be to see Condor's assets sold to the Chinese for a relatively cheap price? If only we could get a binding offer agreed and announced then the other players would be forced to show their hands.

To be fair to Jim, gold is now at all time highs in dollars and less than £10 away from an all time high in sterling. I'd say his call on gold was correct, and I imagine he's very much using this news to hammer the point that the NPV of the project is flying higher and higher as the gold price rises whilst inflation falls.

Shame that the equity markets are an utter clown show, but a company's share price/market cap bears zero relationship to it's fundamental value as is more than apparent right now.

Hopefully Jim can close the deal soon and get a good price for us all.

Sakura I have no earthly idea. I just want to see a binding offer announced publicly at whatever price asap.

I think they should just green light the current highest (binding) offer and then announce it. Let market do it's thing. If the price is too low for the value of the assets then they will see higher offers come in up to the going market value of the assets (which is far more than £60m).

I think Simms has a point that JM might be holding things up here expecting a much higher price. I can accept that if the current highest offer has gone from 20p to 50p, but not if it's gone from 20p to 25p (for example). This process cannot go on for too much longer surely, if JM is holding things up he will have to accept an offer soon otherwise one would expect the local community and government to be getting very impatient with Condor and that is something they will not risk.

Ronwoking in fact I asked MC about this exact issue just the other day, it's something management are very aware of and they are taking all necessary steps to manage that risk.

IMO this is exactly what will put a time limit on the sales process. The government won't let Condor delay indefinitely but they won't nationalise the company's assets (that is quite frankly ridiculous), they will simply say "time's up, take the best offer you have" and Condor will do so. Remember, MC has said that they have offers that they could accept right now if they were willing to compromise on their expected price, but who knows what the current highest offer is. We'll just have to wait and see.

Mark is definitely keeping his cards close to his chest, though he always answers promptly the most he's willing to say is that Jim is leading the advanced discussions with 2 gold producers and that the entire board are working on the best price for all shareholders. When a deal is signed they are required to announce it and it will require shareholder approval.

So it sounds to me like they are close to inking a deal, perhaps the reason for going dark is to prevent leaks? I've no idea, but it doesn't make sense to go dark if either nothing is happening or if things have changed in a material way (negatively). Mark always said they could have sold the assets much sooner if they were willing to accept less. I also think it's ok to reveal that Mark said he's "operating under legal advice" - make of that what you will.

Nice jump up in the sp this afternoon! What prompted that I wonder? Though volume not large enough to signify any kind of leaked news of a deal.

Nice start to the week. Fingers crossed we see some significant progress regarding the sale this month.

If I may be so bold as to quote a small section of Dominic's article (do sign up for a week's trial and read the whole thing!):

"The acquisition of Condor has been on the cards for a long time, but, as I say, Mark is always quick to respond to texts, as all good promoters should be, if he senses potential coverage. He has been nudging me to write about Condor ever since we first met. But I messaged him a couple of days ago to see how things were progressing and, instead of the usual response, got a very curt, “I can’t comment on anything at the moment.” I emailed Jim asking if he had 10 minutes to chat about Condor and got a similar two-word reply, “Can’t Dominic”."

I would only say that it is indeed very uncharacteristic of MC to be completely "uncommunicative" (if that's the right word), so it does seem that "something" is happening! What that something is, and whether it will result in a binding offer, and if so how much that offer will be, are all up for debate.

Oh wow I had no idea Dominic Frisby was a shareholder!! I listen to his Money, Markets and More podcast all the time! Can you post the whole article please CF?