Member Info for thelearner

I am ex CNR, as soon as I read up about MTL I decided to stay invested, initially did not reinvest all my CNR cash here - but have now and more.

I find I don't really have time to trade, but if you do money can be made but it's risky you may sell then not find a lower price to get back in.

GGP was prime example, I bought from 1.6p all the way up to 33p, then all the way down to 5p and never sold any. Was sitting on a fair loss for a while but sitting pretty now with more to come.

Each to their own, I won't be trading MTL either - I think the future in Nic is very bright, and hopefully the same for Phillipines - but never count chickens until the egg has hatched. GLA.

This is something I posted here in June, the presenation will now only be in MTL archives i will have a look through my downloaded files to see if I have the presentaion. The rest of the post was AI search about previous Newcrest work.

If you go to this 2024 presentation https://www.condorgold.com/sites/default/files/presentations/Condor%20Gold%20Corporate%20Presentation%20May%202024%20v2.pdf and go to slide 20 - it shows for La India potential exploration target upside of over 12 moz from 22 targets. The next slide shows resource for Mestiza & Amercia and potential upside. And DB is also after some ex Newmont concessions.

This is what AI shows for the extent of Newcrest work - so seems to be no drilling - mainly trenching and surface sampling.

Newmont's Historical Exploration in Nicaragua:

Real de la Cruz:- Newmont conducted trenching work in 2001, confirming mineralization with results like 63.6m at 1.01g/t gold. Further trenching 25m to the east yielded 39.6m at 0.98g/t gold.

San Lucas: - Trenching at San Lucas resulted in significant gold grades, such as 6m at 7.65g/t and 16.15m at 2.2g/t.

Estrella Gold Mine: - The Estrella concession, located southwest of Siuna, was part of Newmont's exploration efforts. This area is part of Nicaragua's "Mining Triangle". The Estrella mine is known for its east-west trending mineralized structure with multiple parallel veins.

General Approach: - Newmont's historical exploration in Nicaragua involved following artisanal mining activities and focusing on surface outcroppings.

Transition: - Newmont later divested its Nicaraguan assets, with companies like Condor Gold and Calibre Mining acquiring and continuing exploration and development in the region.

Historical Significance: - Newmont's exploration work, particularly at the Estrella mine, was significant as it was one of the first areas in Nicaragua to be explored for large-scale, mechanized gold mining

From 2022, indicated and inferred https://www.investegate.co.uk/announcement/rns/condor-gold--cnr/mineral-resource-update-for-la-india-project/7127695

Unfortunately, cannot now find historical CNR presentations about exploration potential, but existing Nic producers have been finding much more gold on their concessions. MTL has all the CNR data and will be looking at further exploration options but for now will be fully focused on the mine build and starting production.

JP/PW maybe seeing some of the outstanding gains being made elsewhere on AIM and deciding to get out here and move money to somewhere with potential of quicker return? As an example I swithered between here and OMI last week, OMI was 13p, now 24p, so I made wrong choice.

Here I am hoping for nice Cobre results and good drill results.

Jim Mellon, ex CNR was offloading his MTL shares, had to issue RNS when he went below 3% threshold.

Agree results are impressive - happy I topped up here earlier this week.

As ex CNR - interesting to see 2274 metres of the 4000m current drilling programme at La India had been completed, well suspect it is all at la India to help with surface pit design and development, but we have seen no results yest as far as I know?

That's definitely it for me Prop - my buy is shown as unknown. Just now hoping for encouraging sales from Cobre and nice drill results.

LTH since 2018. Underwater a lot. Said I'd never buy any more here, but very happy that Peters & Co have been ejected and liking the direction under new management.

You will shortly see a buy of 2501710. Took my average down a bit - hoping to at least exit here break even. Time will tell.

I also thought there was already a rig drilling at la India although on holes for geotechnical info for mine development (June 25 slides) and another arriving this month? Tweet July 22 said a resource extension drill programme will be announced in Q3 2025 which will support the next phase of value creation. Maybe I heard DB speak about this in a presentation?

I should have added to my post - one of the attractions of AIM shares is that they are free of inheritance tax, but to qualify for this - the business must qualify for business rates relief in UK - MTL shares therefore exempt from this I guess, most of their operations are outside UK.

April 2026 the relief on IHT for qualifying AIM shares reduces from 100% to 50% - it's extremely complex - and again specialist advice is required.

https://www.ajbell.co.uk/articles/investmentarticles/289842/watch-out-inheritance-tax-benefits-aim-stocks-change-april#:~:text=How%20the%20AIM%20system%20currently,at%20the%20time%20of%20death.

Best solution is have all your shares and funds in an ISA wrapper. Until they come for this too.

1. Are any of your dads shares inside an ISA - if they are this takes away the capital gains tax issue - everything inside an ISA wrapper is free of capital gains tax.

2. Is you mother still alive - there is no CGT or inherirtance tax between spouses.

You absolutley need to go and get specialist tax advice.

Inhertiance tax - you dad can gift things to family - and the 7 year rule then applies - if he survives for 7 years there is no IHT payable - the amount of relief tapers over the 7 years from 100% of gift liabilty for IHT at 40% to 0% of gift liabilty for IHT at 40%.

I have no idea of rules for putting things into trusts - this is a real specialist advice area.

I really hope he has a lot of this inside a stocks and shares ISA wrapper.

Go seek specialist advice, but be careful, you need to find a trusted IFA, there will be sharks out there.

AGBR - week before last I was reading through Condor's corporate presentations from 2006 (I first invested 2017) - doing this showed year on year the same information regurigated and dressed up - there was a little drilling and resource expansion, and plenty studies on the mining plant and open pits required, but when you look at the cost of running the company and the money - well spent IMHO on improving local relations - we could have done more drilling to prove up more resource. Our best chance of building a mine must have been when Ross Baety became involved and the other I think US or Canadaian mining expert - both of whom sold up - I think due to frustration of not being able progress the mine build.

On reflection I think MC was out of his depth and performed badly. JM enabled this. Someone else posted here that MC tried his best to get a good deal for the 2 years the asset was up for sale - I can easily beleive this.

I was going to exit when I broke even with CNR at sale had a little profit - but what I read about MTL and DB changed my mind, and I put all the Condor cash back in - turned out to be a good call - so far anyway.

I am pretty sure the assets in El Salvador were surrendered - was still mentioned in slides for 2014, but by end of 2018 El Salvador disappeared from slides and annual reports, but cannot find any RNS in that period - the moratorium started in 2007. Other long term holders probably hav e the answer - I am sure it was discussed on the CNR board.

If you go to this 2024 presentation https://www.condorgold.com/sites/default/files/presentations/Condor%20Gold%20Corporate%20Presentation%20May%202024%20v2.pdf and go to slide 20 - it shows for La India potential exploration target upside of over 12 moz from 22 targets. The next slide shows resource for Mestiza & Amercia and potential upside. And DB is also after sone ex Newmont concessions.

This is what AI shows for the extent of Newcrest work - so seems to be no drilling - mainly trenching and surface sampling.

Newmont's Historical Exploration in Nicaragua:

Real de la Cruz:- Newmont conducted trenching work in 2001, confirming mineralization with results like 63.6m at 1.01g/t gold. Further trenching 25m to the east yielded 39.6m at 0.98g/t gold.

San Lucas: - Trenching at San Lucas resulted in significant gold grades, such as 6m at 7.65g/t and 16.15m at 2.2g/t.

Estrella Gold Mine: - The Estrella concession, located southwest of Siuna, was part of Newmont's exploration efforts. This area is part of Nicaragua's "Mining Triangle". The Estrella mine is known for its east-west trending mineralized structure with multiple parallel veins.

General Approach: - Newmont's historical exploration in Nicaragua involved following artisanal mining activities and focusing on surface outcroppings.

Transition: - Newmont later divested its Nicaraguan assets, with companies like Condor Gold and Calibre Mining acquiring and continuing exploration and development in the region.

Historical Significance: - Newmont's exploration work, particularly at the Estrella mine, was significant as it was one of the first areas in Nicaragua to be explored for large-scale, mechanized gold mining.

It's not unreasonable to expect Jim Mellon to sell all his shares, but we will never know now as he is below 3%. Again we will never know but I suspect he is not happy at not having a large enough position to have control or huge influence. I also thought his departure as a director was strange, could not commit to all expenses paid director meetings in Nicaragua? He has also made a decent return, he had low average price I think, but must have imagined years ago he would make a much larger return.

As an ex CNR holder I cannot believe where we reached under MTL in 5 months in term of SP, mine being built, 1 rig on site and another in around 6 weeks. I am very confident both CVR's will be paid out, and after 2 years waiting on a buyer I was not confident we would find one. DB is showing MC/JM what can be done. I accept raising cash to build mine was challenging, and of course we were also lucky rising gold price made us more attractive to buy.

Since 2017 when I first bought CNR - there have been many downturns due to sanctions in Nic. I knew when buying it was high risk - as I suspect all did - and I must admit I had decided that once I could get out with a profit I would be gone from CNR.

Time of sale I was very slightly up - with CVR's to come. I have put all the cash back into MTL shares, why after decideing I would not take the risk of Nic ny longer.

1. I really like what I see and read about MTL and DB. The speed they have moved and delivering on what they said they would do at La India and the purchase of the second hand- ever used mine plant in Alaska has been impressive.

2. La India - the potential to find more gold in the ground there is huge - I cannot find one of the old CNR slides - but it showed potential target's with huge numbers.

3. MTL because they are operating in Philippine's reduces the Nicaragua risk, but this will diminish unless they find more stuff to mine in the Philippines, which they plan to do.

4. DB has a lot of experience under his belt working in South America and has a large number of contacts there.

Don't really want to go into politics, and I was no fan of Gadaffi and their terror squads but Libyans have been much worse off since that dictatorship was ended by the West. Yes there is higher risk in Nic, but the miners who have been operating there for the last decade and more have done very very well for themselves.

Hugely impressive Interview. Funnily enough last few days I have been quickly flicking through the Condor presentations from 2006. My first CNR buy was late 2017 after seeing Jim Mellon speak about the asset. DB has stated in that interview exactly what my speed skimming of the slides showed - regurgitation year on year of same info repackaged slightly, studies and selling of what's in the ground there, but never getting closer to delivering on promises to get the gold out of the ground, but I do believe they spent a lot of money and time trying to support and build better relations with the community.

2011 slides showed there was a mine at la India closed in 1956 - produced 576,000 gold with peak annual prod of 41,000 oz.

Up until 2015 were doing a lot of work in El Salvador as well as Nicargua - and then El Sal moratorium on mining came along and all that work was worthless and eventually concessions surrendered.

DB has bought the whole mine processing plant for $3m more than CNR paid for a SAG Mill. Was good to hear as well the fully equipped Assay lab will be set up in Nic by end August - same time as 2nd drilling rig should start. And all very low cost.

By the sounds of that interview - there is plenty more gold to be found in Nicaragua and that porphyry in the Phillipines sounds very exciting. No drills in ground yet but 3% copper almost unheard about nowadays, although he did say 0.3% in some parts which is still OK by todays standards.

Lets hope South America stays stable - had plenty bumps along the road from 2017.

I should have added that I don't think Calibre did not buy CNR because it's not a good asset, but they are confident they can get their own mines to maximum capacity through exploration drilling at lower cost than buying CNR, they think there is plenty of gold to be found close to their existing 2 mines. Good to see DB thinks the same, plenty more gold to be found on the existing former CNR ground. Profits fro Nicaragua operations have allowed Calibre to grow and build their Canadian mine.

No major is operating in Nicaragua. Calibre are mid tier and could have had CNR for peanuts and did not want it. Personally DB won't be worried about a takeover from a major. iMHO

I had given up on my investment here when Joĥn Peters and his merry band of Lifestyle directors were in charge. I stopped averaging down when the SP hit 1p, that's when I should have been selling.

Today I have hope again, thanks to the new company leadership. I wonder what SP the manners family need to break even, for me it's 1.4p and I am still not sure I will see this. Cobre is doing well and we are still very rare on AIM to have income.

Don't post much here now, but still read regularly. Good to see many of the old posters still here and contributing.

I agree with what CFC says about CVR's not being eligible for ISA.

But my ones are sitting in my ISA next to my MTL shares in the Hargreaves Lansdowne account. I also have a fund and share account and expected them to go in there TBH.