Member Info for Simms45

Great to see we finally broke the resistance of 25p. Next leg up could be a lot faster. Going into next week could be interesting and only just one day left of the week to fill those boots! Feeling that things are all coming together.

I expect investors will continue to pile in today. With gold smashing $2200 our asset value is ballooning and one of those two advanced bidders should complete a deal. Even if deal is a lowball £120-£150m that is still 3x todays market cap so chances are new investors will make a tidy return over a shortish timeframe. Pretty sure some of that Calibre $100m raise will be parking itself in Condor as there was no reason given why so much and Chinese are very keen to take this mine. gla

If we get an asset sale only i think share price will shoot past as logical someone will likly make an all share counter offer with some cash. Could be a dream battle about to commence!

This could jump to 30p very shortly as things are moving faster now. I wonder if news is getting out if Condor might need to announce something very soon. might get a speeding ticket tomorrow :)

I suspect many investors are nursing a lot of sick stocks and not taking their medicine and hoping for better days and might be short of cash that normally comes from top slicing profitable investments. We live and wait and hopefully new investors see the opportunity to potentially double their money within a month.

I am amazed we have not traded between 30-40p waiting for deal. Like some have said asking a buyer to spend £150m when company is valued at only £50m does make the buyer ask questions. We know UK stockmarket is on the floor since the massive exodus of capital last 2 years and many companies are undervalued but it does not help Condor finalise a deal to be this undervalued and that means all shareholders.

All we know is we probably have a battle between China and Calibre and Calibre have just brought out the big guns with a $100m cash raise. If any of this pans out it suggests a deal announcement being imminent!

When you think back and Calibre were not dissimilar in size to Condor but since their deal with B2Gold now able to pony up $100m cash at a blink of an eye and have $100m cash and targeting 300k ounces of gold things are very different. Who dares wins!

Interesting comparison to Orecorp in presentation as they just got an increased bid today of $270m for this project. I am sure there was good reason to include Orecorp in this presentation and given the mad dash by majors into Ethiopia would not be surprised if TK is sold between financial closure and first pour. Majors are literally drowning in cash today when gold is over $2100 and in our case our partner in the government so that is an opportunity a Newmont etc would not like to miss out on. I think the we sell off TK and focus on Saudi Arabia with a £150m cash windfall to smooth the way!

Remember that we have always been told 2 buyers in advanced discussions since December so its not unreasonable to think it can be both Calibre and the Chinese and perhaps we have a deal and Calibre have gone to the market and using the current high share price to raise $100m cash. better than an all share deal. Even if it does not form part of a deal with Condor they can probably deploy elsewhere. However the amount being raised with the $100m or so they have in cash gives then $200m cash to play with and they can easily borrow $100m on top so they are building a serious amount of cash to deploy. It just gives calibre options and very smart move by them to effectively cash out $100m.

Well there we have it folks. Looks like Calibre might be about to pull the trigger with what looks an incredibly smart way to so this taking advantage of their high share price to make a small raise and deploy to Nic. Very interesting development.

Well we must be very very very close by now :) Certainly my focus is a deal will be announced before end of month which is the companies financial end point. The shares have not ticked up to 30p however which i thought they might do as any deal will be worth at least 45p and possibly 60p and the odds seem pretty high something is happening given complete radio silence that we have not had before and numerous hints since December. gla

I suspect once all the dust has settled this was probably always a chinese sale from day 1 and has taken 15 months to finalise with perhaps offers coming in from elsewhere. i think 15 months is an excessive time to finalise a deal so for everyone's sakes i hope this is concluded before the end of the month. However calibre has a ballooning market cap now heading to $1.4bn and probably $2bn in a months time so they can find some change down the back of the sofa and do the deal over a weekend, which is all it really takes now all documentation is in order. lets hope we wake up to a deal tomorrow.

The board have not gone to ground for no reason and i am sure they are working hard to conclude the deal before the financial year end. Gold producers are drowning in cash and need to find a home. Maybe next week?

Calibre have jumped $400m in one month and now $1.3bn., 34% up. Condor has got a whole lot cheaper for anyone to acquire. Calibre could simply issue 10% new shares and be done with it. Calibre can truck the ore in a few months and the value increase on their business would be multiples of the dilution. At $2200 gold they could be cash generative in 3-4 months while they sort a mill at La India. Condor are a freebie for Calibre and probably any other producer that might well have increased in value over last month. Tragic we are not now about to produce as we would be £200m+ business but we live and learn.

Flurry of buys this afternoon. Looks promising for tomorrow unless news drops and then its skyward!

Pretty sure we will exit Chapter 11 on Northfork with same percent we had going in. Essentially Chapter11 allowed NFCP to jettison all deadweight of lead contractor and anything else but equity and bond holders refinanced. There might so a small change but Chapter 11 was used to reorganise debt and kick deadweight out. anyway once we get this £500k the board might do a update on the company but suspect until that money comes in.

Lets hope we head towards 30p in readiness for the deal to land! Could all happen anytime this month.

Well no one is saying anything less than double the current share price and many think considerably more. Jim has not waited 15 months when we had immediate offers 12 months ago to not get something a little more than originally offered. Very very soon implies March and what i also sense given December update and recent silence from Condor. Something is close to dropping so to double or more your investment in March on pretty decent odds is not a bad place to be.gla

Does that valuation take into account Americas and Mestiza as i thought the PFS was only done on main La India prospect and this has been one of the downsides of this sales process because this is being undervalued as well as the district? Condor have done the heavy lifting bringing together all the 100s of small parcels of land so Condor have a added a lot of value from that very painfully slow process. We also need to consider the share price that is dismally low so if the price of the assets was towards 65p you would expect any buyer to consider buying some shares or going down the takeover route at 50% premium and why i feel the low share price has been a headache for getting a higher valuation. Share price is still crazy low and barely over our enterprise value so nothing for the 12 years of pain for many.