Member Info for nero120

Lets hope 2018 is Condor's year!

Yeah it's a difficult one to call. I think re-ratings are mostly due to investor psychology, and you need a big event to draw the retail investors in. I don't think news alone will do it as we've had so much good news over the past few years but nothing has led to sustained buying volume pushing up the price. MC could be on to something regarding the TSX, if the fact that we are hugely undervalued compared to peers on the index causes some investors to sell existing holdings to buy in here in the hope of capitalising on greater potential gains, even to fair value, then it could lead to a re-rating for us. Ultimately, I think we need a major to take a significant interest in the company (i.e. make a very nice offer or take a sizeable position in a placing, or a commitment to fund the building of the mine), that will certainly turn investors heads and lead to a re-rating. But to get there we need to jump through the immediate hoops: 1. Permits (after public consultation and relocation agreed with community) 2. Resource increased to 3m oz+ 3. Reserves increased to 1m oz+ (BFS) Possibly option 3 may not be required but I think a large reserve increase after being fully permitted would almost guarantee a lot of excitement. Anyways, looking forward to seeing what result the TSX listing has!

BTC broke $19k then crashed back down to $15k, exchanges are breaking on volume apparently. It is indeed crazy, crazy that we ever let our politicians/bankers create the nations money at will without limit, manipulate interest rates to enable unsustainable deficits and a vote-buying monster welfare state, bail out insolvent institutions, unsustainable record private debt, encourage anyone with a modicum of intelligence and drive to invest in rentierism rather than productive uses of capital, and finally, speculative get-rich-quick nonsense like bitcoin - a testament to our morally and literally bankrupt society. These are sad times, and it all feels like a financial and social collapse is either right around the corner or actually in progress...

I think that was pragmatism based on the fact that the government didn't have a good track record in this area (with b2gold). Now that that's no longer an issue, i think MC will be able to avoid forced relocation and will successfully cut a deal with the community. The artisanal miners were a big part of the protests, so i think they are key to preventing any issues. I think the rest of the community are pretty much onside from what the IFC report was saying a few months ago.

NoEasy, just wanted to say that in my opinion it's simply a question of $$$. These are not the last amazonian tribe being driven from their land, they are impoverished people living in a former mining area with no fresh water or particularly fertile land. They only want a fair deal and to be treated with respect and dignity something that MC will ensure as a former Gurkha officer. Now that the government has stepped back and given Condor the green light, in my mind it's not a question of "if", simply "when". Once all the parties are satisfied they will announce the Public Consultation, which will be a formality. Likely Q1 next year if I had to guess. Hopefully a TSX(v) listing and a nice re-rate off the back of that will keep us ticking over until then. Everything's looking good, just a question of patience as always (whilst the rest of the world falls apart around us!!). Have a good weekend all!

If we can finish today above 45 we'll have broken through the 50dma, which would hopefully mean more buying on the back of that strong technical signal.

Could if I had another, I only have the one. What are you seeing?

Struggling to buy any quantity over 1500 shares at less than 40p (through Hargreaves) at the moment, looks like we've hit a floor for the time being.

Great points wondergoals, and also remember that MC was an officer with the Gurkas - he understands very well hearts and minds campaigns and how to work with and benefits local communities. The appointment of Aiser Sarria as General Manager from B2Gold right when the government untied our hands was no accident!! MC had clearly been planning this in advance and had likely been pressuring the government to allow him to take over the negotiations with the locals. I'm not surprised that the protests have ceased, and I expect these negotiations to conclude successfully before long.

Exactly Aguila. It's quite clear that Canadian investors understand gold explorers far better than the UK investors on AIM, hopefully that will result in some decent buying once we're listed on the TSX(v).

They've had some great results from over 20,000m of drilling, but the points still stand. No reserves and a very long way to go, with nearly four times the market cap of Condor. And as I said that's just one example.

Sorry correction, make that: Condor's market cap is currently ~USD$32! That'll teach me for trying to do two things at once!

Regarding the TSX listing point, just one example - Marathon Gold. They currently have a market cap of USD$115m, with NO PEA and do NOT yet have any reserves! Ind/inf drilling results show a resource of just over 2m oz gold @ ~2g/t. Condor's market cap is currently ~USD$21 with a bigger resource, reserves of 675k oz, a mine plan and on the verge of permits granted! Accepting the fact that Canada is seen as a safer jurisdiction (arguably), I think it is very reasonable to expect a significant re-rate once we're on the TSX...

To be fair to Aguila, I think he tries to re-focus the board towards the resource rather than the permits because: 1. Everyone here is pretty much convinced that the sp is languishing because of permits. That might be true, but if it's not and we get permitted and the sp still doesn't re-rate, that could lead to a lot of capitulation here and a bigger drop in the sp. Personally I put the current sp down to cyclical reasons, and I think being primarily on AIM does not help one bit. 2. MC encourages you whenever you speak to him to focus on the resource because (i think) he is as certain as is possible (force majeur notwithstanding) that the permits will be granted, it's now just a case of sorting out the details. That's probably fair enough as it's common knowledge now that the government have approved the EIA and all that's left is to get all parties to agree to the RAP (no mean feat but it's looking better every day). I think Aguila probably agrees with this perspective. I don't really consider it ramping as he's not being ridiculously bullish (remember the 28p party?), just switching focus from de-risking (permits) to resource upside. In fact I do agree with that. The real short-term question in my mind is what a tsx listing and permits granted will do to the sp? Some of my thoughts: - Permits: Huge de-risk of the project once granted, but a re-rate requires new buyers and big volume, do we really think there are lots of potential AIM investors just waiting to pile in here once permits granted? I'm not so sure, as I think AIM investors are momentum chasers, and even if permits are granted this share is still a medium-long play. Remember, gold explorers are still in a bear market. - TSX listing: I think this could re-rate us due to the fact that many new investors who's bread and butter are buying up cheap explorers in down cycles ready for the upswing will become aware of us. MC makes a great point in the Denver presentation that our Price/NAV and EV/resource oz gold US$ are far lower than our TSX equivalents, so it's reasonable to expect some arbitrage there. PLUS we have fricken' Ross Beaty as our largest shareholder!!!! Anyways, we will see!

Nice one Wondergoals, please do share with the board their response!

Wondergoals have you thought about conferring your concerns to Blytheweigh? They are our PR firm after all so we're paying them to spread the Condor message. Would be interesting to see what their take is. Looks like they didn't even tweet the news today...

Thanks Seingred. Yes I've known about Beaty for a while, long before he invested in Condor. Was just wondering if you had found a cheat sheet on the web that listed his current holdings - long shot but worth asking! :) When I found out he'd invested here (and a Sprott affiliate fund) I got very excited indeed, whereas for those investors that are not "goldbugs" it probably didn't have much significance beyond additional institutional investment. The fact those two names are associated with our little explorer is an overwhelming endorsement indeed, I think that simple fact has helped me deal with our share price lingering at such low levels!! I'm quite keen to see TSX investors load up when they see that the latest addition to their exchange has the Beaty and Sprott names associated with it...

Also interesting that Dalradian have a market cap of CAD$360m / �215m, with reserves of 1.44 Moz of gold (5.24 Mt at 8.54 g/t Au), 130,000 oz / year @ AISC of $674/oz (all underground). It's possible Condor could potentially hit similar numbers at the end of this drilling campaign (new PFS would be required to increase our reserves from ~640 Moz) so they're not a million miles away from where we are but with a much higher market cap (10x).

Seingred just out of interest, how did you find out Ross' investment holdings - do you have a link?

Yikes that is not good! Didn't realise El Limon was currently nowhere near economic, and I bet those AISC don't include replacement/exploration costs...