Member Info for Simms45

Btw i know Condor is still traded on TSX (thank and im looking to hold all of 2019 as i think, given experience of explorers that always take much longer than they first say i reckon 6 years of hard graft should come to something. Afterall £30m valuation is silly when they have license to extract and sell around $600m for starters. once its a 5m ounce block that is a tasty morcel for gold companies who always need to keep the development land on the books.

I agree about tightly held as sometime ago during a buying spree myself i walked the price up a good amount on my own hence its very sensitive in both directions. The key issue is MC getting more shareholders into Condor in Toronto and on that point he sadly appears to have failed miserably. The volume is almost 0 most days. Note to MC. Please try harder and get that news flow coming.

Not that you can predict the future from looking at the past but generally a nice new year update on some matter comes before the end of the month.

There is quite a bit of potential good news that hopefully will released and apart from politics dragging in Nicaragua i hope it will be start of some momentum. The biggie could be turning Condor to be producer sooner and can only imagine MC has support from all local on that front so more a case of agreeing a fair price to make it worth our while.

Yes quite right. Only goes to show how the completion of the Barrick/Randgold merger forced the hand of its competitors and that should equally filter down. Condor is well placed for the gold rally.

Given Randgold and Barrick announced a merger to create the largest gold miner it will mean others will followsuit. Could help move B2Gold interest in Condor once the 5m gold reserve is proven.

I tihnk the trading update tomorrow has to come out guns a blazing so this should put a little step in the price and Medco will need to man up and table an offer. To walk away with their tails between their legs would be an embarrassment to their management team. no management team gets to this point and this folds at a low ball price especially when they were willing to pay a lot more last October. i think both the trading update and a new offer will transpire but as long as POO goes up in the meantime this will also push Medco to get their skates on.

If i was Medco i would be thinking the same thing and once i bought OE to then offload all the non core assets and effectively get the Santos assets for free that they really want. Hope they dont get the chance. Can see this dropping today.

I know it sounds unlikely but anyone from medco side could have a position through any number of intermediaies privately and made a good 20% return from initiial offer and since they know the offer prices can play the piper. for medco to hold 0 shows no interest at all as surely they should put their money where their mouth is? If this was hostile they would have 5% at least so they can pick off shareholders? I cant work it out as their offer is not even close and holding no stock shows any offer has no teeth.

i cant see this getting anywhere close to where the BOD/shareholders would accept. To put in a derisory 45p offer is just cheeky. The problem now is they have tabled such a low offer that i cant see Medco and OE getting close to agreement. Had they started at 55p they might have then raised offfer up to 65p and got the deal. I think this will now not go to any level worthy of acceptance and even if Medco could pay 65p or higher it would now look ridiculous to their own shareholders why they would increase the offer by 50% from their initial offer. I think this one is a going to be damp squib.

I do wonder now if the BOD knew about the Fortuna news and wanted to bury it. Could you imagine if they dropped that news without Medco in the mix? Ophir Energy without any support would have dropped like a stone on that news. Therefore they used the Medco potential interest as a backstop and rushed out a press release of a cash buyer and then dropped the Fortuna news over the weekend. Frankly Medco was not the most likely contender and perhaps the BOD are trying to keep the plates spinning. It does somehow fit the narrative as i think most people were a little surprised of the Medco release as normally it would be kicked into the rough as it is obvious to all that selling Ophir at the nadir of the POO is not good timing and before serious cashflow hits the bank balance. Normally you would expect the BOD to rebuff interest but i guess we need to wait what the offer price might be. All very odd.

Given the news that Fortuna has bitten the dust and big $300m impairment charge will the share price drop substantially on monday? Did Medco know this license was not bring extended as if they did not then this could trigger them pulling out of the deal? If Medco knew this news in advance then surely that should have been shared with PI’s. Why do i think something fishy is going on? sounds like BOD knew the Fortuna news and have got a bit desperate with Medco?

It did not go unnoticed that the POG is getting oswr go its 3 year high. The significance is more the speed in which gold has risen in last quarter. while are are years from production, unless MC gwts a deal to process locally it will make investors more likely to hedge bets and sign up to forward price arrangement on the bet gold will rise in next 3 years. Demand is also rising as uncertainty rises so it should all help MC. Remember also we are a leveraged bet on gold so as long as gold rises the impact on our potential bottomline is magnified.
Feeling very confident about 2019 for Condor

I think the first of several RNS. Since the permit was given MC on the interview said mayor, ministry and others are falling over themselves to help smooth the way. MC on the ground can easily expand the concession as MC will be telling them to help get the mine built this sill help investors see a long term commitment. At the end of the day 600k ounzes is a starting point and its clear there is no upper limit once things get moving. this might also be the news precluding financing being announced although i see that either happening imminently or more sometime end of January as christmas and New Year are always slow periods for raising finance.

What impressed me most with MC interview is his aim to drive up some ore 1 hour to the next plant to process the gold as they have spare capacity. It is not agreed but it sounded a good plan to just get some revenue on thr books and sustain the core company development. I do not know the margins on that sort of thing but he seems to be looking at all options and slightly out of the box ideas and hopefully he can announce something.

Also sounds like they are very close to announcing some good drilling and resource updates as he wanted to drop some numbers but said he could not.

I think there is a good wind going into 2019 for gold and for Condor in general and if he can do a deal to use a neighbour processing plant that will send some good messages to the market.

Yes. i like the interview as Mark Child is not reading from a set piece.

what was most interesting is that MC says he has a lot of interest in finance and he is working through the options. He said there will be some aspect of a equity purchase alongside debt. The cost of the mine is now $110m so actually less than before and says that with just 3 feeder pits he can increase by 45-50% and he says in Nicaragua the permitting of extra pits using the existing mine infrastructure is relatively simple and referred to ability of B2Gold to do that.Hopefully some good news in the New Year but if he can get the resource upgraded to 5m then i think that will make the difference and make everything fall into place.

Can you elaborate on where MC has mentioned two offers of finance from two additional banks as i think i must have missed that? Finance for me is the biggie so want to know what you know where we are at. share will jump substantially if financing is close but i always felt with political backdrop getting the finance over the line might be harder than it would have been. Having said that banks are desperate to lend big amounts on good terms as returns from normal debt is so competitive and low margin. Banks are currently awash with cash. For example i went into local bank and first time ever cashier showed me a very large number of what i could borrow today. This was a cashier in the bank and i sense banks are shoveling cash to anyone eho can pay some interest.

Nice to see how MC and Mr Mellon hoovered up at the bottom of the market and just before this report came out. Hmmmm
Anyway looking forward to the finance update as that would really rerate this stock and remove some of outstanding risk.

A small question is that directors are only able to buy when they do not have have information that is not in the public domain. Therefore are directors admitting that nothing new is known or they could be seen to be insidee trading? Just a question but hats off to the brave buying at 22p. Lets hope MC can deliver something to really lift the share price and create some momentum

MC has been on the road and i hope making good use of the phone to make some progress on some potential deal. With Ross Beaty and Jim Mellon, and not to mention the World Bank there are some heavily invested, and well connected investors who are hugely out of pocket at the prices they bought in at. I am sure they do not like that feeling. Therefore these deal makers will be working equally hard to bring something together, if not to invest directly in some form or another. September and October are good times to line up partners and November is often the month to tie something up so i really hope MC has something to say this month. Often when it goes ominously quiet something might be happening.

I agree that forward selling some gold for cash today and allowing the investor to take advantage of any price difference in the meantime is a really great method to go about raising some capital. Even at 50% discount we have $1bn of proven reserves so getting cash should not be quite so hard.

As it stands i think we have £1.6m so that is good level of cash to tide over the business for the time being as we are largely treading water until some type of deals are done.

i still think a business like B2G that is already in Nicaragua is currently a likely contender as i just feel only those close to Nicaragua who know the ropes will be confident to invest.

i have to say that MC knowing the permits were on the horizon should have been working on that basis and had some warmed leads so the investment would be sooner rather than later. Ilke others i am sure are slightly disappointed that time is dragging once again. it seems MC has a different time horizon to most people. Am i the only one who thinks $120m to build a mine is quite a lot? it has also been that price for a very long time so i actually wonder if there is a different setup that can be done for less and quicker. both the nic government and investors would like to see some cashflow this side of millennium and wonder if MC is looking for a gold plated set of trucks as opposed to angling for less investment and getting things underway.

Come on MC get some news flow going as that is the only way this share is going to start trending upwards. Hopefully that i have posted this the news will come.