The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
My thoughts on timing are:
100% land - by late Sept/ early Oct
Toll Agreement late Oct/early Nov
Plant deposit announcement late Oct/early Nov
Commence ground clearing - Dec
Maybe I am being hopeful for all of this to hit in the next 4 months
Article in master investor: https://masterinvestor.co.uk/equities/time-to-look-at-the-miners/
AFf I hope you are right. I think this is key before things move forward.
Why would MC announce anything major such as toll milling deal or even any update on our own mill until we have the land deals sown up - if he did we could be held over a flame for the last plots of land and have to pay over the top..... so I think next major announcement will be 100% land owned.....that will be a massive RNS.
Just watched this interview. Everything is lining up beautifully and obviously JM can see it.
I should know the answers to these questions but can I ask people like T123 a couple of dumb questions:
1. If we go for the 2nd hand 50k plant and construction starts in 2021 - how long would the build be. I am assuming we would be in production at some point in late 2021.
2. MC has talked a lot about minimisng equity dilution when putting the plant funding in place. Again assuming the 2nd hand 50k plant anyone got any thoughts on % of the funding would be equity (although I think even with dilution the share price would go up with this announcement).
Thanks in advance
I have been rereading the RNS and saw this:
"the Company can also demonstrate physical possession for approximately 18 years on the land covering the Mestiza open pit, has purchased the majority of this land and has claimed ownership over 303 hectares in this area."
My reading of this is we own all the land to start drilling Mestiza if we were to sign a toll mining agreement - even if we have not yet got all the land for La India yet.
What do other people think?
Condor Significantly De-Risks La India Project: Purchases 85% of the Land Within the Permitted Mine Site Infrastructure and Advances Engineering Studies.
Condor Gold (AIM: CNR; TSX: COG) is pleased to announce that it has made significant progress meeting the terms of the Company's Environmental Permit for the development and exploitation of gold from the La India open pit, the associated mine site infrastructure and the construction and operation of a processing plant with capacity of up to 2,800 tonnes per day ("tpd") for a new gold mine at its La India Project. Condor has 1.12M oz gold open pit Mineral Resources (8,583Kt at 3.3g/t gold for 903,000 oz gold in the Indicated category and 1,901Kt at 3.6g/t gold for 220,000 oz gold in the Inferred category) permitted for extraction inclusive of a Mineral Reserve of 6.9Mt at 3.0g/t gold for 675,000 oz gold. As further explained below, key elements in advancing the Project, namely acquiring the land and completing engineering studies are now well advanced.
Highlights:
· Acquired 85% of the land within the permitted La India open pit mine site infrastructure, including the key areas of the location of the processing plant, tailings storage facility, open pit, waste dump area, explosive magazine.
· Tailings Storage Facility and 2 water retention ponds are being fully designed by Tierra Group Inc. 40% of the engineering designs are completed.
· The design of the site wide water balance including a surface water management plan is underway and has been awarded to SRK Consulting (UK) Ltd.
· Preliminary designs for the layout of the mine site infrastructure including, in some detail, the designs for the location of the processing plant have been completed.
· Mine and waste dump schedules for a number of mining scenarios have been completed
· The power studies have been progressed and several meetings held with the Ministry of Energy and Mines
Very interesting spot T123.
In the Practive article the only reference to imminent is "and a decision to mine increasingly imminent".
In the tweet from the company they reference the Practive article but then go on to say "to the point of imminent production".
I think this week could be a game changer for all holders that "locked and loaded". GLA
I am not a fan of Simon Cawkwell, AKA Evil Knievil but interesting comment about gold (https://masterinvestor.co.uk/evil-diaries/evil-knievil-stay-longa-for-wonga/?mc_cid=9218e07213&mc_eid=dd26a726ec):
"Gold is starting to develop a frenzy. But we are not there yet. Thus although there may be profit-taking I am not selling. Every now and then one gets a real ride and it looks to me as if we are going to get one here."
Also Master Investor replied to a question with this answer:
"We’re running a follow up Q&A session with Jim Mellon next month so we’ll add this to the list of questions ??"
We know JM loves gold and is always pushing us in Master Investor....lets see what he says.
I am guessing they can't as in a closed period and one of the directors bought shares just beforehand - but I maybe worng.
Of course we could also be getting half year results on 11th as well .... not sure what to think.
Re Calibre and Condor both having PR on 11th.... not sure what to think
This is on Calibre's website: Calibre are announcing Q2 2020 financial results and Libertad Complex Preliminary Economic Assessment (Multi-Year Outlook) on Monday, August 10, 2020, after close.
If you look at https://www.calibremining.com/producing-gold-mines/la-libertad/#map gives a good overview of La Libertad.