Member Info for Simms45

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.

Today we had all sells and no movement in shareprice. For this volume If you did that 3 months ago the shareprice would have tanked. Today its almost the opposite. Looking very strong.

Someone is buying a serious amount of shares in the background or MMs stocking up. looking strong for tomorrow.

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.

Hopefully today we can push on as earliest news expected could be next week but realistically could anytime in April. Gla.

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.

If you look at last 3 months Calibre are up 56%, even with a $100m placing and Mako mining are up 25% with their own GOldsource purchase. c=Xondor up respectable 38% so really all stocks relevant to our valuation in Nic puts us in the mid range. Still plenty of upside just to keep pace with the locals so while happy to see Condor moving it is not an outlier by any imagination.

Really hope not. Rather hoping to focus on 40p but psychologically breaking 30p would put us into a good place but bid might well come before that and push to takeout price that could be low end 45p and high end 65p but we might know very shortly.

Thought this would pop through 30p this morning but Condor share price has only so far tracked comparable rises to other gold stocks so really nothing yet priced in for impending take over price. Still plenty of upwards movement imho.

But for now key info is our seller has stopped so we might recover some lost ground this week, especially with an update.

We also need to think how much cash Calibre now have $60m gold forward sale, $100m placing, $160m cash in bank. They have access to debt so frankly Calibre are in a rude cash position. Valentine, as ryan said, is on budget and gold rally is going to increase that cash balance even faster. They could have $400m+ in a short time frame. Calibre will have only done all this if there was a plan as Valentine is on track and they had budgeted already for Valentine. gla

I mean they have 2.1m ounzes of gold resource and with 25k of drilling can take up to 3m. Obviously the resource across all land packages will easily surpasse 10m ounzes but whose counting but for Calibre looking to hit 500k ounzes a year asap to take full advantage of gold price explosion a canny buyer will pounce now while Condor are massively undervalued. Calibre run at 2 x cashflow, comparable in Canada is 8. Ryan believes part of that massive discount is Nicaragua and their under utilised mine and lack of resource to prove to market thet do not have future drain on growth. Adding Condor will completely change their Nic operation and as they have 15 quarters of growth market might push valuation of Calibre towards a bigger cashflow multiple. They will see a big rise in market cap over next 6 months if they can fully value their Nic assets and i think its pretty obvious how they might do it. Will they do it is a question of price. Calibre was always keen to buy Condor but at a very low price. This is why it is only a price matter and nothing else. Can Calibre meet Jim on an acceptable deal. Now Calibre paper is exploding its really now quite easy and Jim can save face by taking paper and some cash. who knows but what we do know is gold miners are back in vogue globally and have a long long way to go to get to a fair valuation.

Wow. Just listen from 26mins. Ryan says investors want bigger reserves and he almost says they want a big jump in reserves in Nic that sounds it is undervalued because of the low reserves. They are investing $25m a year in drilling and will take $100m+ to add reserves. Why bother when you have 2m ready to roll and reading between the lines Ryan is basically saying they want to buy and speed up that process. We are well within 400km so it makes complete sense, always has been. Question from day 1 is price. Now Calibre are booming they can afford to pay the price Jim wants. Ryan also says Valentine is on budget so again this $100m could be just Calibre taking advantage of market timing but i am betting it is there to smooth over a possible deal with Condor. We will find out. If anything happens it should be this month and regardless Condor need to update from its December update that was last real update on sale. Very exciting and 30p seems almost trivial on monday.