Member Info for Re974

going by memory WG from the Q&A. He seemed to be giving a disclaimer that nothing is guaranteed (for obvious reasons) so not casting doubt on permits being granted but certainly when pressed he said it will take months.

in the latest presentation he did that someone posted, he suggested in the Q&A that permits won't come for a few months. Ministry will have questions, he said. And when pressed he said a few months if they do come.

Statement today saying surface instability issues (they’re playing it down so may or may not be a big deal) mean la libertad production lower end of guidance.

It does have the feel of a company which is plagued by one issue after another and the project is just never quite happening. We thought permits were the be all and end all, then they came and we are in a far worse position now in terms of share price. One thing is clear and that is that the land acquisitions have been dragging on for too long and clearly there are issues. We hope they can be resolved but what do we really know. Also I note from the recent MD&A, there are substantial costs before we even get to the line build. Don’t have the figures to hand but I think there is $15-20m first and certainly feels like any income for the company is far away. I’m not negative per se but I do feel that there is no clear easy fix to our problems and it doesn’t seem we will be getting what we all want to see I.e. plan for the minds build and definitive timescales to production. I just hope I’m wrong here.

Either that or preparing us for the worst!

We need a credible plan of getting to production for this to get any traction. Otherwise, it just seems jam for tomorrow all the time. I am surprised that we have never really heard what the plan is for getting the $130m for the mine build. There is talk of toll refining but this would be very small scale according to what we have heard and what is the plan after that? Great, we would have some cash flow but nowhere near enough and the mine needs to be built within a certain timeframe doesn't it. So effectively this would be a substitute for 10-15% equity issuance at best. And that's if toll refining happens. I for one would like to know what the bigger mine build plan is - how and when it is going to be funded. Since getting the permit we haven't really heard much about the main capital investment for the mine. Or if the plan is to sell the company instead.

https://www.ft.com/content/28ad6390-d552-11e9-a0bd-ab8ec6435630

Friday 915am their time

Someone may correct me but this is what I have for the overall position in terms of warrants and options, if helpful:

Warrants
# Price Expiry
2,906,975 65 28/03/2020
2,083,331 31 31/01/2021
1,562,500 31 21/02/2021
6,730,835 25 15/07/2022
13,283,641 TOTAL

Options
# Price Valid from Expiry
1,223,000 67 06/07/2020
1,606,000 80 25/06/2021
1,833,000 62 05/07/2022
50,000 62 31/10/2022
50,000 50 13/12/2022
200,000 65 24/01/2023
20,000 50 31/05/2023
30,000 50 14/07/2023
1,755,000 42 23/09/2023
1,662,500 22 14/07/2020 14/07/2024
1,662,500 22 14/07/2021 14/07/2024
8,429,500 TOTAL

For once we have rallied with it. As I suspect that is the reason today. Rest of sector v buoyant today and gold now 1543.

Not complaining but it does make you wonder why JM bothers buying this amount of shares.

The price of gold having risen as it has, the share price so far is disappointing. But the rise in gold is real and it genuinely improves the NPV of the project in a big way, so this does not make sense. The market appears to be saying that this project will not go ahead. Either that or there will be a delayed reaction.

*more attractive buyout proposition

Hi all, haven’t posted for a while. With gold breaking new highs this IS a positive for Condor irrespective of our views on mgmt and in spite of the dilution which was disappointing. Let’s hope XAU carries on up and this makes us a moe attractive buyout proportion as this seems to me to be the best outcome for us at the right time.

Anyone have access to share prophets’ winnifreth’s bearcast? CNR appears to have featured today. I know he hasn’t liked it for a long time but it would be interesting to know what he is saying.

Gold looks ok although not sure how it will do this week given the optimism on trade. Wait and see. That aside, the outlook for condor has to look less good after the latest delay. I don’t understand what it means for the company now, hopefully we get some clarity soon

Down 7.5% with gold smashing the 5-year high!

You seem to be talking up your own book here

IFC seems the obvious seller here, can’t imagine who else?

I wonder if thy are going to announce a placing. Hope it’s nothing worse