Member Info for poloshirt

May watch online. Can JM plug condor in a sales process? Prob not. He will have to settle on talking about plant burgers for an hour!

Well I got back in this week after the MC update plus a new financial year for my cgt consideration.
Looks like a level has been put under 30p. MC definitely holding back on that interview. A RNS next week would be nice! GLA.
Target 60p over next 2 months.

Could be read lots of ways. Could mean 25p or so is what the SP will be worth with the offer on the table. Could mean MC is going to sell them all into the market next week to protect the downside.
GLA as always but I have to say that Tweet was a bit odd, that kind of information should really be left for the RNS updates, MC maybe trying to get the other bidder to come in with a binding offer.
All too cryptic for me!

Seingred was right - I decided not to hang around for long. Nice trade for Polo, but too many unknowns for a long term holding.
Id say bitcoin would be a great sell from here. And maybe gold - just too high, too long, due a big correction perhaps. GLA

A question for a LTH: what was the reason for the jump in share price in 2012?

A good week for Gold, a very good week for Condor Gold, a mediocre week for Mark of Gold, and a bad week for Goldman Sacks (£200 mill down the drain on bad bond bets - they could have bought Condor with that!).
Good weekend all.

For a new investor, this entry point has lots of upside, potentially more than a triple bagger, more like 4x investment.
The SP is trading between 22p and 24p after Monday morning's news.
In the cold light of day the LTHs have funded an asset which is now being revalued upwards as the price of gold starts to reach extended targets - ATHs earlier this week in a few currencies including the Auzzie dollar. Geopolitics have gone from being negative to arguably positive as China increases itself from the US - also the Chinese central bank has started making big purchases of gold in for the first time in 3 years. FTSE now in bear market territory for the calendar year; the AIM is the place to be!

Wow just checked the spot-price, that is ramping up, markets must be pretty fearful of more bank problems.
Yeah if you were super high net worth, like our very own Chairman JM, would you want to keep your hard-earned lucre in a bank, where it is way over the amount guaranteed by the local regulator's insurance, or would you think, I'd just convert some of it to gold and keep it locked up in various vaults around the world. Surely that's the sleep easy at night option.
The fears over bank runs actually question whether the dash-to-cash/US dollars is the ultimate safe haven play any more; whereas the shiny yellow stuff has a 4,000 track record of signifying value.
Whose to say we may even see local vaults opening up on the high streets where the local suburbinates can keep and check on their Krugs now that the banks can't be bothered to keep a presence there.

As well as all the dosh that has been wasted down the years when the strategic zigzagging at Condor, one also has to factor in that PM Juniors in general have done absolutely nothing over the last 10 years. Many Master Investor attendees have had to have sit down conversations with their better halfs to explain why they can't go to Cuba on their hols and wouldn't it be nice to have a smaller runaround than the big Rangerover? Predictions of 5k Gold have not come to pass and a lot of trades had to unwind after the GFC and bailouts stabilised things...(Jeremy Clarkson voice) Until Now.!
So the retail crowd are very timid in general with PM Juniors but all it would take is a hedgefund to sniff an easy killing and the SP could rocket, but there needs to be a steady flow of info from MC, if we are at the business end of things it can move quite quickly.
Saying that I don't think any scenarios is going to bail out LTHs who bought this in £plus territory; but our Lord did say "The Last shall be First", plus the Condor bird is known as a scavenger.

Seingred, the latest RNS is clear that with 2, maybe more, serious offers, this is the endgame for Condor.
Mellon appointed chairman in October; Hamman appointed in November; five months down the line with 2 non-binding offers, this could be done and dusted in the next 2 months.
That may sound far fetched to the LTHs who've been so burned by this share down the years.

You could well be right Simms and I certainly hope you are. As you say the RNS is pretty clear, and as an official document it should be fairly BS proof.
I wonder to what extent this share is being held down by the flip-flopping on strategy down the years and thus a perception that it's a bit doom laden and that all outgoing comms need to be taken with a pinch of salt. I've just checked a few MC videos on YouTube and it looks like the strategy has changed every year! And spending all that dosh on the mill.
As for Jim M's involvement, he's written off big investments in the past ("it's only money") but he has form in the mining space, as I scored a homerun with Polo Resources some time back, so hoping his luck is in once more and he can work his magic on a sale with a bumper dividend.
GLA

Yes some profit taking today who can blame them if they got in all of 3 days ago. I'm staying put mind, but not adding to my recently acquired shareholding as yet.
Also good to ask the question: what happens if the sale goes nowhere? At the moment the share ownership is made up of Jim M (patient capital); lots of weary, battle-hardened LTHs; and now some late players who fancy doubling their money.
But the point is, that is minimal Hot Money in total for a junior (ahem) gold miner. It's a strong position to be in for a sale as they will not give it away for free.
I wonder if 17p or thereabouts is the floor for the SP in general, with rallies on encouraging news from MC. If we don't hear anything for the next three weeks it's hard to see how the SP can jump above 30p and stay there.

I've met Jim M a couple of times, first was probably 2006 when a group of us went out for dinner and he was promoting his then new book Wake Up! which was very prescient indeed in predicting the financial crisis. Then again the German property thing didn't really go anywhere and I'm not that interested in living to 200 or pumping my body full of alternative vitamins whilst scoffing plant burgers but I do have a long term interest in gold hence why I've returned to condor this week
Who knows what has been going on behind the scenes but JM must be the one setting down the parameters with Hannam about what is an acceptable minimum price, and MC's cheerful disposition on the video the other day suggests the minimum has been breached in the non-binding offers.
I'm playing this as a last minute punt really, but I do hope the LTHs get something out of it; a SP around 55p and/or a nice fat dividend and all assets sold would be my preference. I always liked the company whenever they presented at Master Investor but clearly these kind of junior exploratory miners are nothing more than a punt at the end of the day IMO. No amount of analysis or research can predict what they will do.

I've been reading some of John Cornfield's analysis of the company on the Master Investor website archives.
Very thorough and technical to say the least. He was estimating market values of around £250m down the years, based on what was in the ground. Saying that he doesn't discount the geopolitical risk in his equations, but as others have said on here, neither would the buyers if Chinese, they wouldn't care less. All comes down to getting the deal done and dusted now and a bidding war would be much appreciated too at perhaps the best moment to sell a gold miner in the last 10 years given the gold price spike. I believe an aggrieved Scottish football manager called this "squeeky bum time".

Gold is in a win-win situation. If banks go under, gold goes up. Even if they don't, the FED will respond by tapering their rate rises, also good for gold. Only thing is it could bounce back down around 2000 usd, it would need a big bank in trouble to shoot right through that price and stay there.

This share has disappointed too much down the years to consider it a done deal. I wouldn't be surprised to see some selling modulating the SP rises until we get more news.

Interesting that the prospective Chinese buyer has not been able to leave China for 3 years due to Covid restrictions.
Glad to hear an investment bank is handling the potential sale. The timing is pretty much spot on given what happened in gold and miner stocks since SVB. MC does look happy. But as always with this company: We will see.

I've followed this share since 2006, bought and sold small amounts down the years, then got totally bored of it and the disconnect between the pumping at Master Investor and the lack of positive share price action. So not looked at it for some time and just checked up on it this morning as I've been looking for some exposure to gold again.
I can see why the LTHs are miffed off with it without going back through all the posts. I've met Mark Child and happen to think he is alright. This set up reminds me of Polo Resources back in the day, where Mellon was also involved, and which paid a very nice dividend at the end that paid for a nice holiday. I wonder if something similar will happen with Condor Gold, especially with gold rocketing up with the (on-going?) bank bailouts in the US.
Saying that geopolitics in Nicaragua are concerning, El President has kicked out the Pope, so not sure if Hail Marys will be of use with this share. But it's so low in price, relative to the £ price of olden days, it's worth a punt.