Member Info for Re974

It looks like there is still technical pressure on the shares due to IFC selling and perhaps concern over the city financial holding maybe. This does not appear to be related to the fundamentals, frustrating though it is. Would be great if one of the other investors could clear out both these shareholders through a placing and then we can move on.

Hi guys, something I am unclear on the more I think about it is what the plan is with the toll refining. MC explained recently that pursuing the toll refining was a 'change in strategy'. What is the strategy. $110m is needed for the mine and I am just wondering what does the toll refining income (which will be considerably less than that) do for us. I don't think I have heard clearly from MC what the plan is after this and maybe we have to wait, but it is tricky to value this company because we don't know how much new equity is going to be needed to fund the mine which is what gives the company its value. Short-term, getting some cash flow is useful but in itself it doesn't really help us because the cash won't go back to shareholders so ultimately all it does is maybe reduces the capex from $110m to $100m, let's say. Does anyone know what the plan is i.e. how much we are targeting to earn from this and then where we go from there? I suppose all I can think is that it will slightly reduce the overall amount that needs to be raised through debt/equity issuance or forward gold sales, but difficult to see how it can help us out in a big way?

% is same as it was in the latest rns

Yes, this is odd. It would make sense that the ifc be the seller. I wouldn’t be surprised if they have decided to exit entirely.

https://uk.reuters.com/article/uk-city-financial-review/city-financial-files-intention-to-appoint-administrator-as-reviews-options-idUKKCN1QG21A

I'm not sure but think this may be the co with just under 5% of CNR?

Ortega has released prisoners ahead of the talks. To be seen what the talks produce!

This is just confirmation of the recent placing btw, in case anyone thought more money gone in. The only news is that condor has the cash from him as for some reason his payment was delayed. So no game changer here. need IFC out the way but Beatty has had long enough so can’t see him increasing his stake at this point, hope I’m wrong though

I agree, although I get the impression the mgmt is committed to the early cash flow idea. Maybe they think it will then allow them to finance without suc heavy dilution. Obviously it needs the agreement if the other party, but I think MC has made it clear trios is what he wants so hopefully as you say it will happen soon

In fairness, the shares very well offered at the moment... you can buy much more than you can sell inside the spread. It would make sense that the IFC be the seller because hold is rising and fundamentals appear to be improving... which is wha makes it frustrating the shares are going down. Would be nice for one of the other long term holders to buy their stake off them

Does seem to be drifting lower to me! Need some news to stop it. With gold where it is the economics of the project are looking a lot better but we need a clear funding plan to move forward and obviously the presence of a shareholder who may not be committed is not helping in the absence of news

If the IFC were selling they may be doing so for investment policy reasons. We need someone to take their stake off them.

Seems like there is an ongoing seller and no buying interest at this point until any news comes so price being weighed down. Frustrating given the gold price holding where it is ...

http://www.travelweekly.co.uk/articles/323792/all-but-essential-travel-restriction-lifted-on-nicaragua

Nice bullish language in this update. No bid to speak of in any decent size so just hope the stock carries on up

2.45m shares today

The seller appears to have backed away judging by what’s in offer. For how long, we will see!

That’s an old vid?!

Quite mad really

There is a seller which is offering just above bid but off book. I think it may be Canaccord

There has been a large seller for a few weeks offering just above the bid price