Member Info for Re974

*big trade today

My suspicion is the built trade today is fund to fund and related to the below. Shame, as it would have been a nice for a bigger show of confidence from elsewhere. Why this has coincided with a big drop in the share price today i do not know https://portfolio-adviser.com/city-financial-to-jettison-flailing-absolute-return-fund/

I read somewhere that the city financial funds will be transferred and I wonder if this is just a cross trade to transfer the holding to another co. Time will tell. I would rather another investor had bought it off them but it may not be the case

I would feel better if we actually knew that city financial or ifc actively selling

They are in administration but we don’t know for sure they are the seller at the moment is my point

We have no idea that city are selling!

Hi tester, I agree re MC but his stake is worth just £800k at these levels and that is prob about only three-four times what he takes out each year from the company. So not sure whether relatively speaking he does have a hue amount of skin in the game. I don’t wish to negative, but I don’t like the uncertainty of us being diluted away

Hi tester, I agree re MC but his stake is worth just £800k at these levels and that is prob about only three-four times what he takes out each year from the company. So not sure whether relatively speaking he does have a hue amount of skin in the game. I don’t wish to negative, but I don’t like the power they would have to significantly dilute us if they want

Further to my previous post what is to stop them issuing a big stake to Jim Mellon’s for peanuts and diluting the rest of us? Grateful for anyone’s genuine thoughts on why they are seeking this approval in the special resolutions. My interpretation is that it seems underhand, because they get seek shareholder approval at the time of any fundraising rather than us giving them carte balance to do what they want

My concern Seingred is that three special resolutions seem to be sidelining PIs more. Do you agree? It seems they want the authority to do a large placing. We don’t know at what price and in theory they could steal the company this way?

All in here. Increasing the amount of new equity they can issue http://condorgold.com/sites/default/files/190322%20NOM%20final.pdf

https://uk.reuters.com/article/uk-nicaragua-politics/nicaraguan-government-agrees-to-release-prisoners-to-restart-dialogue-idUKKCN1R204P Let’s hope the start of better news to come

Good find goneawol. Are the 2 processing plants he refers to both those of b2 or is the other of another co ? Anyone know?

I thought that but wasn’t that just a quote from the previous interview so not new news

That would be great. We cannot know what his plans are!

Beatty didn’t take part in the latest placing though he hasn’t sold yet so that’s good. In a recent intervirw I watched, I think he is more interested in 200k+oz per annum producers although that was for equinox not him personally. Interestingly his view on political risk is don’t try to be too clever which is in a way reassuring

Absolute equity fund suspended because of lots of redemptions. This is the one that owns all the 3.5m condor. So there won’t be any forced selling due to redemptions in the short term. Longer term I presume the fund will end up being liquidated but don’t know for sure or when.

I doubt city financial have even started selling yet as the administrator won’t be doing this already will they?

I am not one for pinning hopes on takeovers etc because they don’t materialise a lot more often than they are speculated about. However, I seriously wonder what b2gold must think here. If they do not want to exit Nicaragua and we can genuinely help them improve profitability with their assets, plus the potential optionality of the rest of condor’s assets, I would think they must be a potential suitor at levels like this. Everything has a price and surely if there is a way of the 2 mines working together they might think 100% would make sense at this level

I think the share price slide is what has prompted MC to focus on toll refining route. Because they know they need to fund the mine and don’t want the dilution that would come from doing an equity raise when the SP this bad. So I think the co is looking to do something to generate investor interest before then funding at better levels. The selling from IFC and potential sale from city financial puts the co in a difficult position because there is no institutional buying interest at the moment but those 2 big sellers lurking. Only some meaningful news will change that and realistically toll refining seems their only option so I think they have been forced down this route.