Member Info for Slippery1

Nice to see you back posting after keeping your head down for a couple of days. As usual no reply when the truth is presented to you.
Seingred posting rules
1. Half read someone's post
2. Miss read it say something stupid
3. Ignore replies justifying said miss read post
4. Keep head down for a few days
5. Repeat
Time to put your blinkers on again.

Taking the P!SS now and the mugs are biting. Did I miss read the RNS and did it say the gold had evaporated.

From tester earlier

Permits for Mestiza would be welcome too - they could high grade the mestiza ore for toll refining straight away - lets not forget $700 is based on 3-4gt - if that rock can be 12gt material... Only 3 tonnes of rock to process for an ounce at $1400.. whats the AISC cost on that look like I wonder.. and the profit shared between b2gold and CNR

From MC 28th Jan

We have completed a detailed study and have firm quotes from contract miners and haulage operators. Yes. I have a very good handle on the operating costs and profits and have a very detail budget. There is a proposal with B2Gold. It is being negotiated. I can’t share commercial details.

What you can analyse is:
La Libertad head grade is 1.19g/t gold
There are 31.104 grammes to 1 ounce gold
1 gramme gold is US$1,300 divided by 31.104 = $41.80
La Libertad is processing rock containing gold with a grade of 1.19g/t = $49.74 and still making a profit. Call it $50
Mestiza is 129,000 oz gold at 8.4g/t gold. The head grade is 4.5g/t gold =$188 per tonne
B2Gold is making money on process a tonne of ore containing $50 of gold
If Condor and B2Gold strike a 50:50 revenue or profit sharing agreement, they each have $94 per tonne

So B2G $700 AISC (this is an assumption but they are only processing) 129,000 oz gives $90.3m profit total (700 x 129,000).

RNS 1st April

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 within the permitted 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”).

So total profit $90.3m multiplied by 12.1g/t divided by 8.4g/t = $130,075,000 total so just over $65m ($16m more than I suggested) for CNR less extracting, trucking.

With POG rising this figure is only going to increase.

Seingred. 3.93 was actually a comparison to another share I was in, if the same were to happen to CNR as I've pointed out to you on numerous occasions. I will dig up the email to show my reasoning. I thought 49m less extraction and trucking was conservative lol . Obviously there is 30% CGT and 3% royalties also to come off that figure. Can we carry forward losses from previous years to offset against future CGT?

From various figures in MC's emails posted on here, and the following assumptions - 1.Mestiza permit granted 2. 130k trucked to B2G 3. Gold price $1400/oz CNR will benefit to the tune of $49m less the cost of getting the rock to B2G. Anyone know what capacity p.a. B2G can process?

Gold goes up $30 in 2 hours. This means the value of our gold in the ground increased by over three and a half times our current market cap.

What if the permit for mestiza was to extract and ship to a B2G plant only. With the guarantee of using the cash to build the existing permitted mine. It would be a win win for all. Govt get royalties better than current B2G rates and we complete the mine quicker providing jobs and more royalties to replace B2G. Condor self funds mine build using B2G plant. B2G makes some cash rather than a loss shutting and cleaning up. Amen.

7and 28 maybe a JV with B2G with our current resource ring fenced out of the deal?

EN lol

T123 wouldn't complain either way. The future's bright the future's GOLD

If Carlsberg did gold mining...... La Libertad runs our ore for a year and we split profits. We use ours to buy the plant and B2G uses theirs plus the plant proceeds to close the mine with a profit.

Discussion was yesterday evening so no.

Numis confirmed this to MC yesterday evening

City are out and the shares were taken by Winterflood Securities and placed with their clients.

Shares purchased by Winterflood Securities

Hopefully Jim or Ross topping up

If they are the seller why doesn't company buy back all the shares @20p to stem the slide. They have cash raised from the last placing that would cover it. Then announce an agreement with B2G bye bye 20s 30s 40s and raise cash to replace funds at a higher price

Awax and more importantly more cash for us.

The way I look at it is the only reason to go for these permits now is we already have a deal agreed with B2G

Well said EL