Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Mega toll mining deal to process CNR for 20 years, no chance IMHO. Calibre in strong position now to take the lo if they want, unless the Chinese are very interested. CNR now very attractive buy with POG trajectory, but many will not risk investing in Nicaragua. Calibre already there and Chinese happy to invest in South America.
Up to JM now what he is willing to accept, if deal is not struck soon has JM the desire to raise finance to build a mine?
He has already said we are not miners but that would be some about turn.
I do not think there will be any retaliation or restrictions on Nicaragua for this action. Hope I am not wrong for our sake here, if indeed a sale is being negotiated with Calibre.
It's a truly horrendous situation in the middle east in Gaza, and in Eastern Europe in Ukraine. War - the rich get richer and all the suffering is endured by those at the bottom of the pile. I would like to see peace everywhere, but extremely difficult to achieve.
When I first bought CNR 4 or 5 years ago, I had watched a very convincing JM say gold going to $5000 and how could I not believe a self made billionaire?
I think everything has a market value based on supply and demand, and if the price gets too high, demand decreases and price falls, unless there really is supply shortage in extreme.Even like this, if its unaffordable for the masses or the market buyers, they look for cheaper alternatives or we have huge recession.
Commodities will rise in price, gold is getting harder to find, finds can be deeper underground and extraction and production costs more.
Oil is interesting, demand should decrease, but new oil will also be more expensive to produce. Copper will be very interesting.
Who knows, certainly not me given my AIM picks. Mining exploration is slow and tough and finding a commercial deposit and becoming a producer is even more difficult, and the hand of the private investor is always much weaker than directors and ceos.
Disconnected between gold pricè rise and miner share prices. If you listen to Rick Rule he says this lag exists in every gold price rise, and the lag for junior explorers is longer than the lag for big producers. He also says that right now, even although gold has increased so have extraction costs and for majors so far no real increase in net profits.
But he is very bullish on future gold price, and says silver also lags gold but likely silver price increase will be greater.
I guess like many here, hoping for news soon. I would take 40p now but hoping for more, rather than wait another year for 50 or 60p. Nicaraguan got will want to see a mine here producing revenue in the not too distant future.
I would be happy if Calibre buy the asset or Condor and we get Calibrebshares. My preference is to get the deal done, we have waited long enough now. I would like to get my initial investment back to move to GGP and some profit to buy something, maybe an EV.
I still think the Chinese are favourites to buy Condor.
Hi Lupi - agree LCCM has swallowed a lot of cash for no return, I'd like if anything to see a JV partner on board for that - asset disposal or sale for LCCM unlikely to happen - few years ago we spent a lot of money on fixing/maintaining equipment - which has lain idle for years again, with probably no maintenance again.
They are selling magnetite - in 2023 sold appx 17,500 tons for just shy of $1.5 million, so hopefully 2024 sales will increase to more than double that - or possibly even more - but I will only believe it when I see the quarterly or half yearly updates, then we will see how much profit comes from it - even if Cobre comes really good - long road ahead. Nobody is wishing this company can be successful more than me - but history is certainly not on the shareholders side here.
dvh you have so many shares you will never be able to sell them all - the only hope here is that this ****show bod get lucky at leigh creek or redmoor and do get some increased revenue from cobre to allow them to fund something.
Am I on the only long suffering LTH here who shuddered when he saw the words "major client" AKA Brenda in the RNS - is she out of jail and back in business :-)
Seriously let's hope this time the sales volumes keep high and can be increased - when I first invested Cobre was going to pay for everything but has not been the case the last few years.
Nobody has to declare >3% if they are still in the process of acquiring more shares.
https://www.condorgold.com/investors/share-info shows the 4 major holders.
There are outstanding warrants
3,333,332 warrants at exercise price 15p. Expiry date 25 May 2024
5,803,570 warrants at exercise price 35p. Expiry date 17 June 2025
I'd imagine the bulk of these warrants are all owned by the directors.
Like many others - hoping this sale gets done soon.
Https://www.proactiveinvestors.co.uk/companies/news/905226/a-reinvigorated-alien-metals-is-all-set-to-become-the-markets-next-multi-million-dollar-prospect-generator-905226.html
Also mentioned in this Oct 2019 article about how the company was going to be grown by Bill. Artemis Resources own 3.4% of UFO and it said in the previous article I posted his family were founders of that company.
Hi s LinkedIn profile looks interesting, posted about Alien Metals 1 week ago, and says was involed in foundation of Alien Metals https://www.linkedin.com/in/richard-shemesian-1a100332/?originalSubdomain=au
I just got a quote to buy 1.7 million easily with HL - but not sure I want to put any more hard earned in here yet.
Mr Mellon is now the Chairman of Condor Gold - CNR. I first invested there is 2017 after watching an investing video where he was singing the praises of this company and predicting gold price would reach $5000 per oz. He did follow up his belief by investing hard cash, now owns about 25% of CNR, he is we think sitting with a loss but a lot of his shareholding has been warrants etc.
Personally I am on 50% loss - I do hope they can sell the company/assets although been up for sale for 1 year now.
He should have got finance and built the mine and became a producer IMHO, especially before the cost of loans increased by multiples, the cost of loans is one of the reasons there are not buyers piling in. The cost of raising money to build a mine and inflation has changed economics of gold/copper mining and the price of gold/copper has not quite caught up.
Like most here I do hope it does. Mr Mellon made a lot of his money in the far east and Russia.
I still hold every share I have bought in GGP, and like most here hope in the long term it will cover all my other AIM losses. I have missed numerous opportunities to exit from shares at a profit. Luckily I have also been invested in funds, and the performance of tech stocks has been impressive over the last decade.
Mining - it takes a lot of money to find an ore body, even more money and a long time to build the mine and get to production. For GGP I read the concerns about MRE. We are lucky, Telfer is already built and very close, there is a lot of high grade material, less tonnage to truck to Telfer, and high output per ton, which will pay back hav costs very quickly.
Then we can move on the hopefully huge volume of lower grade material which can be bulk mined - if you look at many large mines, they have all expanded greatly after the first phase development over a long time.
This is a very long game we are in.
Nero - when I bought my first Condor shares in Sept 17 at 46p, Jim Mellow was predicting a gold price of $5000 then. I do think it is going to go higher in 2024 - and you may be correct this is what he is holding out for.
It's easy with hindsight, but we should have built the mine when finance was cheap and became a producer.
A JV is the other option, but not sure others in Nicaragua are interested.
Wish I had bailed when we reached 36p after the 15p raise at start of year - story of my life!
Very interesting thread.
I completely agree that I could never understand why NC never started to build a position in GGP when the SP was still quite low at start of Hav JV, and posted about that on here - they would have been able to get an additional 5% of Hav cheaper than at JV transaction point, although the spectacular rise in the SP to ATH may have stopped that.
I am now just above my average, never bought enough when SP was in single figures, and bought at 33p and all the way down. I have not made any money in the AIM mining sector, and am hoping GGP will take care of this for me.
I am not convinced NM will make a bid for Hav or GGP. GGP have a lot of good exploration ground, but in very virgin territory, I have always while investing in GGP been quite hopeful we may find another elephant like Hav, and have accepted this is a long game, with no guarantee of success.
Before I cam to AIM, I mainly invested in Funds and am pretty sure my long term returns would have been much much higher had I continued on this track. Like many I could have got out of here with a very decent profit above 30p, GH was one of the very few really smart ones. CB remained invested and never sold - and nobody probably understands better what is potentially underground on the GGP tenements - which gives me some hope. But it's AIM and you never know what is around the corner.
Been here since August 2020 - first buy at 0.25 and missed some good opportunities to take profit when we reached 2.4p in October that year - was not a big holding but have taken a punt this morning again and bought 2143302 shares. Take my average down but still need 50% from here to break even. Just have to hope this BOD can get us to production and hoping for increase in silver demand and price to make EH viable to redevelop.
GLA
I agree with Topslicer's post - except the bits about desperately need news. Bad news will let the MM's drop the SP even further.
I do agree we need to put our trust in SD (agree that compared to most AIM Junior Miner CEO's how he engages with shareholders is a breath of fresh air), and let him manage the best strategy for GGP and his shareholders who is s duty bound by law to work for and protect. Many things, biggest being the Newcrest/Newmont merger and what Newmont decide to do with Telfer/Hav are largely out of his control. He and his team have undoubtedly war gamed all outcomes and have a prepared strategy. I like a lot of the recent things done, JV with Rio, acquiring new ground, prep to put drill in ground at EG, but like all junior explorers - putting the drill in the right place depends on judgement and luck - look how close Newcrest were to Hav before the gave up.
Like many here of course I kick myself that I never took profit (like GH) in high 20's to 30's. Like many I continued to add all the way down, and am now 25% below my average. But I decided to invest here, and am still optimistic Hav will be developed and deliver money to allow SD and the team to build GGP, hopefully finding other deposits with the drill - drilling being paid for by Hav profits.
I have been a mainly reading lurker on here for years. IMHO Seingred has almost always been on the money when he has posted, and he has clearly traded this share quite a lot and openly disclosed this - I have held every buy - more fool me - have had opportunities to take profit, most recent when we got to 36p and now regretting not get getting out then. My 15p buys got my average down to just under 31p - holding 172240 shares, my first buy was Sept 2017, brought here after watching JM encouraging PI's to invest.
I know many others have held much longer than me and have higher averages - I am hoping to get out soon, with a modest profit. Have given up on hopes of doubling my money.
Not sure he is talking specifically about GGP - maybe a TSX listed company - but certainly what he is saying makes a lot of sense how II's are behaving with Junior miners. In CNR - the last raise and placement was materially very good for Jim Mellon the major shareholder, not an II but Chairman. Shareholders got to take part in placing, but no warrants for us - there never is.
Don't post much here now - but read a lot - I am disappointed but not surprised in recent SP volatility. It's AIM, markets hate uncertainty, and we have that here now with Newmont takeover of Newcrest.
Of course shorters are going to use this to their advantage. I don't think SD and his team can do much more than they are doing - all they can do is be ready to react to any move by NCM/Newmont in relation to Hav/Telfer, put the drill in the ground at Scally and Rudall and release results quickly if they are very good.
That video shared by Nap was very interesting saying gold price rise of 30% led to 65% rise in gold funds and some miners, but nothing for juniors who always lag behind. I came to AIM with the hopes of big profits, yet to materialise but like many I missed the chance to take them here at 30p+ and have bought all the way down.
Funds may have been a better option, but I think we have 1 quality asset, potentially some more to be found, and a quality team in charge - who will have a long term plan to build a major company - and if there is short term pain for SH then so be it. This is a long game. Many retail investors do not have the stomach for this. And given the performance of some AIM junior miners, not sure I disagree with them - but I'll be holding here.