We would love to hear your thoughts about our site and services, please take our survey here.
For me it is all in the way he expressed that in the webinar and when he talked about buying resource and then stopped, almost thinking he had said too much. Yes you could read otherwise but thats fine. He also suggested and reason for Marathon deal is they are not happy with 2x cashflow. He thinks exposure go canada will change that. Nic is a cashflow monster we know that but its also fairly obvious that running mill at less than half capacity for last 5 years is not what investors want to see. Calibre want to hot 500k a year asap so if you consider they are hoping to double their shareprice to $2.4bn or so if they can do a fast fix in Nic with mininal expense they will. Yes ortega might prefer chinese and chinese will want the mine but Calibre will also be keen for many reasons. We know its 2 horse race and time of delay is probably down to price etc. It could be either way but do we care as long as a deal is announced asap or they crack on with a JV with Calibre and keep status quo.
If we were not in latter stages of a sale we would have probably had an annual report last month but as sale is close i guess they will not release until concluded or they need to do by LSE requirments. Its probably 6 months still some time. Almost no news since December and complete blackout on any comms from board. Obviously something is about to drop but when is the question. Maybe next week?
Quelle surprise. Extended to 16th May. I am dissappointed Eqtec did not cut them off and move on. We have revenue and £2m of a lending facility so plenty to cover next 12 months. As soon as they cut Verde out shares will rise as it just loads more pressure on poor management execution and just hangs over company when in all fairness we do mot need it, especially if Logik sell land.
I would add that in the last webinar Ryan did not answer what they wanted $115m given they already have close to $200m in cash after gold forward sale and currently printing vast quantities of cash at almost $2400 gold. Ryan equally said, and cut short as i think he might have let on more than he should, about acquring resource as their aim is to boost Calibre shareprice by sorting its Nic project that has suffered from one of its operations to be barely operating and investors have a 2x cashflow valuation on Calibre compared go 6x for Canadian operators. They have now bought the Marathan mine to try and change the shareprice dynamic but until Calibre fully fix the Nic issue of under utilisation and low reserves they continue to be under rated by a large factor. They could keep on as they are investing $25m a year in exploration and in maybe 3-5 years reach 5m ounces that Ryan also spoke about as a key target l, presumably to sell to a major, or cut short 3 years and buy Condor, truck ore in 3 months and crack on. Add 1m reserves and 2m inferred and get one of the largest, ic not the largest, license over a huge amount of gold. We will need to wait but it seems crazy for Calibre to have so much cash on its books and nothing to do with it. I am sure China are also pushing hard and perhaps why we are still waiting but if Jim with a firm handshake says “very very soon” he meant it. i am just hoping his version of very very soon is similar to mine :)
And you can almost set your clock by the shareprice. Harry does his placing and now we wait months and months while the overhang of placing shares gets churned. Given how high risk Kefi is its amazing just how stable the share price is after every placing. Gla
Sounds a similar time to me. In fairness Harry has worn the most rose tinted sunglasses ever talking up definitive agreement signoff now for 2-3 years. Really he has stretched the imagination of reality but we are still here and while down on my investment i do think the upside when it comes will be huge. However if we get second bank signoff by end of May and definitive agreements signed end of June it will be a miracle given his historic bullishness to get things done he does not control. Sadly Saudi is valued at 0 while the ethiopian ****show continues. I will be happy the day Harry says he spins off Ethiopia project into separate company and list or sell to major and exit Ethiopia. Time to focus all efforts on Saudi that is a much better place to operate (well i hope so anyway!)
Personally be happy if they do not invest as we should not need their cash and can reduce the effect of dilution that i think can be done in the future at a much higher rate. However if they do subscribe at 5p then that is 150% more than todays share price so it should also have a positive impact. The earnings report i think will be pretty robust compared to the last one in that we have generated up to around 1m in revenue for contracts we know about and there is plenty of upside from North Fork, Croatia, Greece, France, Wilsey, logik £1.7m if they sell land and so many other things. We have the revenue this quarter to more than cover a 6 month period and we already converted almost all debt into equity so just £600k of debt on the books. That is incredibly low to be almost debt free as a company. I has however cost shareholders dearly but the current share price would appear to be absolute steal. I really really hope the board do not now do a share bonus scheme at these levels as that would be unnacceptable given DP through bad acumen or design as cosied up to investors in placings or introduce buyers of shares who then dumpt the shares. Catalyse was unbelievable. Suerly they could have found a buyer of the shares who would have held them for longer than a few weeks? They will need to answer to these questions as it does appear DP may have purposely forced the share price down, for what reason i do not know but he must hvae known Catalyse dumping shares would have potentially derailed Verde who might now reconsider investing when they could buy in the open market at far less. they could probably acquire a good amount well below 5p and then top up through a subscription. however from my perspective they are not strategic at all. They appear to be another short-term trader. We have until the 19th to see if Verde will invest. Frankly if things go even to the low end of expectations we should be 10p very shortly once some traders have exited. lths still probably own 25% and are probably at least 50% under water on average even at 10p so i hope that the share price can get moving again just as long as DP stops destroying the shareprice with his "strategic" shareholders (not!)
We have got to be super super close. Everything points to a sale and the complete shutdown of any communication from board makes that doubly so. Very good to see a tight ship but there is enough anecdotal news to connect all the dots. I suspect within 7 days we will know, could go to the end of the month. Gla
I think its highly unlikely but even if they did you would retain the same stake, albeit not have an easy way to sell it until Eqtec was acquired. Investors generally want liquidity as a precondition to investing and investors like Altair have already sold their investment and bought back in placings and like all investors under water, even with warrants. There has never been any mention of and the share price has largely been a consequence of DPs investors selling into a market that is weary that every investor seens to sell their stake, most tecrntly Catalyse. If and when this stops the pendulum will change. DP and staff are also invested. I certainly want to not see in next few weeks prior to NF that DP will award himself stock as he should be apologising profusely for his poor record, especially his “partners” who i think have all turned out to not strategic ot long-term but short termist. Altair are around but their selling in 2022 was a big part of the current mess and pis are wary, not knowing if any more big investors selling.
Lets wait for the expected update on all our projects. Its been incredibly quiet given a lot has been happening. We have the cashflow and limited debt so we are in a good place. If Logik is going to happen this month i hope the board can exit the Verde deal as its just unnecessary and who knows if they dont work like Catalyse and simply sell its stake and take a long leveraged position. Northfork was valued at $20m so if our stake is at least 25% we should get that $5m back on the balance sheet. To imagine Eqtec is worth just over £3m is mindblowing.
Connect. We hit the 30p target and expect to move towards 40p, if we are not bought later this month. I expect Calibre investors to start paying attention as if they have any inkling we get an all paper deal it would make sense to some to switch from Calibre into Condor as they might well end up raising their stake in Calibre. Gold is flying and Condor is barely keeping up. Something has got to give.
Certainly no easy way to do so. First you would have to map out every RNS and webinar and comment from DP and then track it against what happened and probably prove any way DP and certain investors might have been colluding or with DPS knowledge. As i understand an example might be early Altair dump of shares that was hidden from pis and we were not aware what was behind the decline until we got an RNS. Was DP in knowledge of this and pumping the stock to enable Altair to extract cash for next placing? Apple was a big ticket item and rewards were high for investors to pursue. Eqtec was pumping like crazy and provided huge revenue targets that were totally for the Fairies. Proving he was not just a gung ho optimist and not doing matters to benefit himself is something else. Obviously a 98% fall from the top is a catastrophe and i am sure DP was never planning it as all his staff and hid ego will be knocked. This verde deal and the recent Catalyse dump causing more downward pressure on the shareprice is not helping. I have made more investments and these are now underwater because i bought just as Catalyse were dumping in the background. Again if i had known i would have waited. I am sure DP was aware however but kept to himself. i do sense a big turnaround because we do actually have contracts in play and plenty of sunk capital. I plan to invest more on back of some news but Northfork is very soon. I think Eqtec have not released until we know our stake in company so technically and in accounts we wrote off the whole investment. While frustrated and down i have invested and my target breakeven is a lot lower and i hope easily achieved on back of real news. The recent Logik RNS sounded good but thinking it through i suspect we will not see that cash as surely if the deal was going through end of April it would all be contractually drawn up. Also we still lost a chunk of money as the £1.7m is less than what we invested.
Yes. absolutely. We were valued around the same market cap when gold was only $1900 so the board taking the brakes off going into production took the shine off the share price as the valuation shifted to what someone might be prepared to pay for the company in a bit of a market drought for debt, a completely different valuation. if they did decide to JV with someone and we kept 50% we might rocket a lot higher than today as the market would replace the sell valuation today with a NPV on the gold production scenario that was always the best scenario and £1+ would be very achievable. To get get the best price i suspect this will be a takeover so but they will probably be only able to offer a 50% premium to sell to their investors. This is why we need to see the share price at 40p at least so the bid could be both acceptable to their own shareholders but also Jim and long term investors. if we get to 40p then someone can make a 60p all share deal and we are probably all happy in current scenario. Sadly we have had too many nervous investors selling but each to their own.
30p smashed and we can reach 35-40p very quickly imo as 30p was the top of the last 3 upswings. If you believe a sale is imminent then every reason to hold until we get the RNS that cant be below 45p and we all expect more. I am sure there are plenty of sellers between 20-30p who are kicking themselves but with gold at this all time time it is really now or never for Condor. Maybe they change tack and go for production with some gold forward selling but my preference is an all share deal with Calibre as they could see their share price double over the coming 6 months as they are grossly undervalued to their underperforming Nic assets that with Condor rolled in will be printing cash like it is going out of fashion and run at full capacity.
One thing will be sure is that when it finally happens It will be obvious. Everyone will look back and wonder why they did not buy at 30p when a few weeks later it was 45 or 65p. I feel that with all the "very very soon" Jim handshake and no comment from Condor, that is uncharacteristic, and the enormous boat load of cash that Ryan could not quite say why they needed and in the same breathe outlined a strategy to sort out their lacklustre Nic growth by securing extra resource it is starting to be hard to say something is not about to drop and almost an open secret. Could be wrong and certainly the price at 30p suggests nothing is going on. That is testament to a tight ship as any real leak would see the stock jump to 40p+. Could be the last few weeks of an independent Condor.
$2352 :) now gold is flying so high why does board not forward sell, say 40,000 ounzes at $2200 and borrow $88m and get on with it. I am sure lending and equity options are now more plentiful. Surely China would like an extra 40k ounzes and that would not even dent our reserves. Where gold could go is anyones guess but it feels like it is catching up for lost time as it barely moved in decades.
Gold explorers and producers in general have been booming the 3 months and Kefi has fallen significantly. we are now well below the recent placing price so the fall in comparison to the market has been very painful to see. Kefi will have its time but we are now Mid April and i sensed this will meander on towards June. The second bank i cant believe are still working this through credit as that was totally not what Harry was originally saying and according to his words every investor was putting their investment to their boards at the end of February so over 1 1/2 months later has no board met and signed this off? Amazing Harry can get away with saying all this. Funnily enough that was all said just before he dropped the bombshell placing so go figure on his motives and how many people were sucked into topping up around .7/.8? We cant trust what Harry has to say but hopefully what the EG and others have said will get this moving in the next month.