Member Info for Simms45

I like the MC read between the lines

“I am delighted with the exceptional gold recoveries of 95.4% as it confirms the suitability of La India ores to be processed at B2Gold’s processing plants.”

Not one but two possible processing plants :)

Condor Gold plc
(“Condor Gold” or the “Company”)

Metallurgical Test Work undertaken at B2Gold’s Mines confirms 95.4% Metallurgical Recovery from samples within the Permitted La India Open Pit

Condor Gold (AIM: CNR; TSX: COG) is pleased to announce recent metallurgical test work conducted by B2Gold Inc. (“B2Gold”) on behalf of the Company from samples taken from an area withinthepermitted La India open pit. Two samples of approximately 23kg each produced an average head grade of 12.1 g/t gold and average metallurgical gold recoveries of 95.4%. This confirms the suitability of La India ores to be processed at B2Gold’s processing plants in Nicaragua or a similar processing plant. The gold recoveries are better than previous metallurgical sampling compiled for the 2014 Preliminary Feasibility Study (“PFS”).

Mark Child, Chairman and CEO of Condor Gold, commented:

“First, I would like to thank B2Gold for their cooperation and allowing Condor Gold to conduct metallurgical tests on mineralised ore sampled by B2Gold’s personnel from within the permitted La India open pit at laboratories at both their mines in Nicaragua. Secondly, I am delighted with the exceptional gold recoveries of 95.4% as it confirms the suitability of La India ores to be processed at B2Gold’s processing plants. The high grade samples, producing an average head grade of 12.1 g/t gold, were taken from the principal La India Vein. It is invaluable to conduct metallurgical test work at two nearby producing gold mines whose laboratories are set up to replicate the metallurgical recoveries at the mines. It assists Condor in deciding on a final mine design and metallurgical process as the La India Project progresses to the construction phase.”


Background

On behalf of Condor, SRK Consulting (US) Inc. (“SRK”) designed and supervised a metallurgical test development programme as part of the December 2014 PFS on the mineralised material taken from drill core from La India and America Vein Sets using the independent laboratories of Bureau Veritas in Richmond, Canada. These tests were completed to a PFS level of metallurgical study and are intended to determine the most effective and efficient means of extracting gold and silver from the mineralised material. The SRK analysis indicated that the ores were amenable to Carbon-in Pulp (“CIP”) or Carbon-in-Leach (“CIL”) methods. Gold recovery from La India Vein Set was estimated at 90% to 92%, which includes a 2% reduction to allow for plant inefficiencies. Reagent consumptions were also tested, indicating consumption of 0.75 to 1.5 kg/t of sodium cyanide and lime consumption of 1.0 to 1.5 kg/t. La India Vein Set ores were noted as harder than usual with the Bond Ball mill work index determinations ranging from 17.5 to 21.9kWh/t. Grind-recovery test work indicated that a grind of 80% passing (P80) 75 microns will be required.

Recently, as a part of Condor’s on-going investigations of the La India ores, staff from B

Some positive news. Odd not live on lse so far.

not that i should be watching but best part of 1m shares just went through with matched buy. could be the end of spring cleaning or more of that to come but nice to see large numbers of shares moving from this forced buyer into the hand of HODL

Its certainly been squeaky bum time last few months and when you think it cant drop any more it does. It is just supply and demand and fortune favours the brave. Only wish i came across Condor a bit later thsn i did. As Bottmzup says good to bunker down or as i am slightly hoping coming 5th April an ISA investment waiting. Still amazed how our listing in Canada is completely ignored by investors. That does trouble me a bit and perhaps we need make some Canadians aware of Condor. This is definately silly season but until toll deal is discussed arguably we own a whole lot of dirt so value is almost arbitrary but as soon as definite numbers start emerging this stock could re-rate at a very fast pace. We just need that traction and a whole new level of investors will emerge.

Come on now PIs thumbs up if you have been selling today?

You know when stock available to buy and sell is less when the bid/ask spread is wide. I remember 6 months ago this was about 10%. In last month we have almost had the same bid/ask price because of the forced seller pushing as much into the market as it can bear. This morning the bid/ask spread was the smallest i have ever seen it and was able to but almost at the bid price. i might show as a sell shortly but it was a buy. It is now back to 17/18p but the key is to find the bottom of this seller as we now know it was not City Financial.

As i speak i just bought more shares at 17.375p. Someone really wants to exit Condor and i think MC should probably share something with investors. All the key metrics i am watching from politics through to gold price all look positive. The reason i ever got invested in Condor was my belief that MC, RB, JM were honourable and not about to shaft the PIs and i still stand by that. We shall see. Some day soon the clouds will lift but i might need to bunker down. 6 months ago you could not get stock at all. Today i am able to get my hands on a lot of stock below the current price. Therefore i am hopeful this is the last block of stock someone is selling.

MC, RB and JM did not invest all that money last month at 20p in the knowledge they are about to dilute themselves to buggery. Of course Condor will raise money but that money is cash that will hit our bank balance and if you raise £10m sometime in the next 6 months then the company the day after the raise is worth £10m more. it is largely a zero sum game. As long as investors then believe that the deployment of that cash to the mine is money well spent then any raise of money will derisk Condor massively so that we are not just owning a pile of rubble in the middle of Nicaragua :) Obviously Condor only extracts full value when the mine is operating so the sooner we get to that point the better. All of MCs share options are at considerable multiples todays price and MCs only real way of taking home a big pay day is hitting a share price closer to £1.50 on exit. Therefore those in at 18p could well be onto a 10 bagger if MC can achieve the sort of option prices he has been granted, as i am sure he wants to achieve. You could play devils advocate and say JM, RB are both happy to see the price tank as potentially they are the investors at the next stage but bear in mind a few months back when we had the forced seller before he stepped in to buy them at a price considerably higher than today. I think the board will be keen to see the back of these forced sellers and by May i would hope we are back in the 30s as i am pretty sure MC will not be wanting to raise money any lower than the 40s because it will make his options seem a lot farther away and his salary is not really where he wants to be. The toll mining deal, if that happens, will be one of the key turning points and we just need to hope that the deal has a good chance of success.

i think there is a smowball effect. The same funds invested in similar high risk oilies and gold miners when liquidity and money was cheap and potentially we are seeing a few of the worst investors being liquduidated that impacts the share price and that draws more funds and investors into losses they cannot breach. Its a mini QE in reverse. However conspiracy aside i got some more at 18.5 and i will be pleased if in my new tax year its still low so i can use up my ISa allowance. We are at that time of year when sometimes crystalising a loss makes sense from a tax position ad then buy back in after the tax tear. Af the rate im going i might even make the leader board. Company is worth £13m. Ridiculous but at the moment MC is stuck as he needs share price well over 40p to give his raise any chance. Hopefully he is up for the challenge and bring me nearly back to breakeven.

Just checked and City had 3,486,376 shares.
Today someone bought 3,386,376

I think bar 100k of shares City are out.

Funny how 18p brings out the bargain hunter. There is a bit of a feeding frenzy going on, possibly JM or RB taking the 3.4m shares off a forced sellers hands and playing the market to their advantage. However there has been some steady big seller over last month so are we contending with 2 forced sellers and maybe one is still lurking in the background. i note the bid/buy margin is still almost 0 which indicates a MM filling his sell order based on the current price forced upon the seller because of the earlier transaction. Fingers crossed we find out a bit more later and that blue sky will start to appear as probably like most Condor investors we are not exactly soaring.

I was referring to BBC news which said all political prisoners will be released over a 90 day period but i am sure it is not perfect but a strong step in the right direction that should probably move things forward. https://www.bbc.co.uk/news/world-latin-america-47648088

I have a feeling the 330k of shares at 458 is a sell and not a buy which would explain why the share price is pinned fo the floor and the bid/ask spread is almost 0. As another poster said we might see at some point an RNS to confirm the seller and hopefully confirm they are fully sold up so things can start to move. Just the accumulates tax losses on Condor is worth far more than the current market cap. Its a silly valuation more akin to a nice house in mayfair and not a billion dollar gold mine coming. politics have also improved with all political prisoners released so there is some degree of normality on that front as well although gold mines are usual to be in inhospitable political destinations.

Bear in mind that if Condor does eventually raise say £10m by issuing new stock that will go into the bank and be ultimately used productively in the development of the mine which is very positive. Therefore the value of the company be rise, not least because we derisk the company substantially and bulk up its position but the money is going into the bank. the value of the company will rise by same amount and therefore not be dilutive. MC has all share options priced at 42p and above so the last thing he is going to want to do is see the share price fall further and make his chances of triggering his stock options further away. Also the special vote on his performance package is looking at prices of over £1.50 for him to get a real payday. Therefore MC is not going to be very closely watching that and making and raise positive for the share price. we know the money raised is going into a high ROI investment. Issuing shares is mainly damaging when the company has no other choice to stem ongoing losses and therefore the money is not applied into productive activity. In this case i am pretty sure MC will not raise money until he sees the share price considerably north of today and not before announcing the toll agreement. I see today again the margin for buy and sell is tiny so we can assume the forced seller is again offloading a chunk of stock today. Filling up at 20p is not a bad place to start and apart from the one seller there are 100s of buys over the last month so we just need to wait until that stock is transferred into the hands of PIs.

looks that the market maker looking after the forced seller managed to get away 250k after hours today so i am hopeful we are making progress on the 3.5m wedge. While i have not gone back to last month when it started we must be getting close to closing that position and probably then seen a a nice step up.

If correct the forced seller must be close to closing their position. They would have had 3.5m shares to offload equating to around £750k worth today. They have been selling for around a month and they must be nearing the endof filling their sell order. Anyway i probably jumped in too soon but only a few days to the end of the tax year so i might as well take the plunge as 20.5p seems for me a great entry price and unlike other stocks i have had some bad experiences with i hope the likes of MC and RB will not shaft its PIs by doing some massively dilutiive share issue in their favour at silly low prices or other shenanigans as we get closer to mining. Hope i am not wrong as when hundreds of millions of dollars of potential profit are in the mix there is too much temptation for skullduggery from some quarter.

Coming up to that time of year and just bought 2 blocks of £7,500 at 20.5p which was filled quickly. Not seen the margin between buy and sell so close for a long time but its very favourable. I was hoping to get in at 20p so was on the same par as MC but i am ok with that price for now. Has also brought my average down a little but still a good measure of red is showing. Hopefully over to MC to make good on the business momentum, even if the forced seller is not telling the same narrative as what is going on behind the scenes. Hopefully end of summer we will be reminiscing about the time it was 20p and wished i had bought more. Hope so anyway :)

Welcome Nev23. I was adding stock earlier this year and simply not able to buy much without moving price. Definitely the forced seller is active so glad you have taken up a chunk at sensible price and good luck to you as i hope it creates a very healthy nest egg over next few years. I am tempted to add more at these levels.

The volumes today are very small so i can only imagine we are not seeing the full picture. do all trades need to be reported through the LSE and would we see them? if the share price has dropped because of 50k of shares i would be very surprised, not least as some of these were purchases. if we just have someone selling through a MM and we are not seeing the trades showing then how do we know as it would be good to know what needs to be reported and what does not. at the end of the day as a long-term holder looking to buy some more i am not concerned but would like to understand whether we have a seller in the background that the MMs are somehow managing and not reporting to the market through the trading screen.