Member Info for Simms45

I dont see the issue. This will mean we close finance in next few weeks so commencement can being early 2025. Deal is .55 so not exactly a discount and clears the decks, plenty of upside for everyone!

"KEFI is pleased to have secured this international funding package to underpin the launch of Major Works at the Tulu Kapi gold project which are expected to commence in early 2025. We have at the same time provided a mechanism for existing Shareholders to participate.

"We also expect this capital raise will facilitate the granting of additional long-targeted licences in Ethiopia, which we believe will be complementary to operations and the value proposition of Tulu Kapi."

Its obvious the deal is DOA and Metals know it. I dount any investor would vote for it, unless we are turkeys voting for christmas. Time to kick back and wait for a serious offer as frankly even JM and MC must be just using this to finalise a deal elsewhere. Otherwise JV with metals and crack on and build the mine if they think Metals adds value.

Bear in mind even if JM “supports” he knows damn well in current form it has no chance of success as no investor will agree it. Its clear its all about closing bids and not wasting more time. Metal offering 44p cash might get more interest. Calibre will make an offer. they have been circling for years. They are hardly going to not make an offer and beating Metals is not even an effort. They have $300m cash alone. Gla

Hardly lifestyle. We have projects completed and ongoing in Hawaii, France , Italy, Spain, Croatia, Ireland and USA. News expected on many of these. I expect most to deliver a positive outcome, especially USA, Hawaii and France very soon. Yes its painful but they are also doing a lot of projects simultaneously. Once we get one project signed off for equipment we can look forward to a period of growth.

No offence but we are 6 hours in. I think its a bit early days to think none of the other 8 non binding bidders are not going to take a shot, not least Calibre but we also have asset buyers as well. Metals have posted offer only on their RNS because its not agreed by Condor and this was all about bringing offers out. JM would not be talking to other suitors, including Calibre and orchestration of offer RNS would be coordinated. Feels like Metals have gone rogue and hoping the other 75% of shareholders will bite their hand off. Somehow i think not.

People need to reread Calibre RNS that basically spelled out Jim and Mc need to re open discussions for them to table a deal. i suspect lack of Condor RNS on Metals offer is because they are locked in a room finalising a deal. Could come tomorrow but something is being cooked up. Metals is going hostile basically by jumping their offer and certainly a long way from a deal.

We are barely 6 hours in and Condor have not even posted this offer as more is going on. We are waiting for a proper offer, either for asset sale or Calibre and then for Metals to offer higher deal. Metals offer is just the warmup.

I think everyone is missing what is going on. This is only talking about those companies taking over Condor. For this we have 2 suitors of Metals and calibre. However nothing is being said of those buying the asset outside of Condor yet. These do not follow takeover panel rules. The preferred bidder i suspect has been Chinese who do not need the mill. This is why Condor is selling it. Metals is probably aware of all this and trying to make a play for the whole company including the £6m mill we bought. I Think we have more suitors outside of the takeover panel requirments and hopefully Metals has helped speed this up.

This would be major coup for Metals if they could pulll this off as the Condor asset, while in Nic, is up there with the best projects in the world. Metals could climb to 20-30p off the back of this easily. condor has a district tha conservatively has 10m ounzes of gold and 2m ounzes ready to dig up. That is well over $6bn of gold just for starters. good luck!

Just topped up while everyone is asleep :)

Let the bidding war frenzy begin. Metals would eat their hat to get Condor for 41p. Calibre are going to do a body slam this week i suspect but Metals must know 41p is not quite there. 50p is next bid increment.

44.1p per Condor Share all in. This is opening gambit and i said Metals would make offer today. Calibre will now respond as well as other suitors. Easy money!

Https://www.lse.co.uk/rns/MTL/further-statement-re-possible-offer-for-condor-3wr3gabnpt9w9p6.html

If JM has not got the nouce to build a mine and collect the $6bn in gold let Candy get the job done. I for one will wait and see but if Metals achieves the deal i have confidence they can deliver. Their share price up for 1 to almost 6p in 2 years. Condor has been Dithering and even with a billionaire owner our share price has halved from 2 years ago. Had JM pulled trigger 2 years ago we would be looking at $6bn pile of gold and thinking how big dividends would be. You live and learn. If Metals pull this off sub £120m it will be a huge win for Metals investors. I still expect £150m paper offer from Calibre once MC gets over to Canada and opens discussions as Calibre are basically spelling out what needs to happen to secure a deal. If JM and MC cant pick up the phone or get over to Canada to seal the deal then no bonus. I can see deal coming this week.

Cuckoldking, thats for popping over to Condor. If Metals pull off this deal with Condor under £120m it will be the deal of the decade. Condor PEA is well over a billion over 8 years and does not even scratch the surface of the district. Depending on the deal and split of cash and shares you will find a lot more investors piling into Metals as i for one was disappointed Condor put mine up for sale than build the mine. Metal will rocket if they pull this deal off and cash rich Condor investors will join. Equally if you think Metal will be mostly paper then smart investors might join Condor now while we are 50% below likely sale price and take advantage. In my past it is always best to be firstly on Condor side and then switch to metals post sale. Metals for me has the most upside. Gla

I have also topped up today as i cant see a deal not happening for over 50p in coming weeks. The Candy offer is going to drop any moment and MC just has to open the channels again with Calibre. Calibre can issue paper and be all shares if need be to reach requisite number. Calibre dont even need to use cash as their shares are gold backed and they are hugely undervalued that by acquiring Condor will fix all their issues in Nic in one go.

So Candy offered £90m but will this week table a deal, hostile or not for maybe £110m. This is 100% premium to current share price. Candy 100% has never walked away from a deal and hostile is how it plays it in property so this now a waiting game. Calibre clearly stated in black and white Condor need to come and talk and get the party underway. Candy knows this so his best move is an offer today to give him some speed. Calibre will need a week and endorsed by JM.

And Calibre make clear that if Condor re-engage with Calibre a deal is mostly likely back on

Calibre (and any person(s) acting in concert with it) reserves the right to set aside the restrictions in Rule 2.8 of the Code in any of the following circumstances: (i) with the agreement of the board of directors of Condor;“

Basically MC should be speaking to Calibre and re-engage and get an agreement in place. I would hold the front page. My guess is Candy tables offer in next few days and MC finalises a deal with Calibre. Gla but would like to see £150m and not the £100m deal so far released. 100% or 160% from todays price still leaves a big gap on todays price.

Exactly ICB. Calibre are canny and worded it perfectly so that if they wanted they could all of a sudden have both a current and active offer. They worded exactly so we know what is going to happen. It was obvious they would do this but Candys are not people who back down. Their deals in property are legendary and if you know them they will will table a decent and early offer maybe £120m with even JM endorsement if all cash. We will see but i still think no way Calibre is going go let this slip by as it is throwing billions out the window and they can offer paper and some cash. Gla

Buying will pickup in due course as their is almost a guaranteed double bag that could be any day whether Candy gets JMs support or not. Easy money. Obviously JM wants £150m but we will see. Calibre would make that back in 1 year trucking Americas and Mestiza. La India was always a free mine for Calibre.