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Good morning

I feel ready for some juicy Dupax drill news.

I think , then 20 p+ by Christmas is definitely possible.

Have a nice day, everyone

Italy has the third-largest gold reserves in the world after the US and Germany, with roughly 2,452 tonnes, according to Bank of Italy data. Following the recent blistering rise in global prices, it has a current market value of about €285bn.

The Bank of Italy says that it owns the gold as part of the country’s official foreign exchange reserves. These stocks “boost confidence in the stability of Italy’s financial system and of the [euro]” and are a “safeguard for the Bank of Italy in fulfilling its public functions”, the central bank says.

But lawmakers from Meloni’s Brothers of Italy party are pushing to add a provision to the country’s upcoming budget law that would proclaim “the gold reserves managed and held by the Bank of Italy belong to the Italian people”.

“We feel the need to make it clear — that gold is the fruit of the labour of our people,” said Senator Lucio Malan, chief whip for Brothers of Italy. “That gold has always been a property of the people of Italy.”

The question of who owns Italy’s gold reserves has been a preoccupation of Italy’s rightwing parties ever since a reorganisation of the Bank of Italy’s structure a decade ago made financial institutions, including private lenders, nominal shareholders in the central bank.   

In the aftermath of that change, Brothers of Italy pushed several times for a law to clarify that gold held by the central bank is the property of the state, but these efforts had always stalled.

Meloni lamented in a speech to parliament in 2014, long before she became prime minister, the “expropriations” of the “monetary sovereignty” of the Italian people and insisted that “under no circumstances” should Italy’s gold be “touched by these new owners of our central bank”.

Back in 2019, when the far-right League party proposed turning the central bank into a mere custodian of the country’s gold reserves, the ECB warned that transferring them “off the balance sheet” of the Bank of Italy “to the state would circumvent the prohibition of monetary financing” and hence would be flouting EU treaties. The League’s coalition government with the populist Five Star party subsequently collapsed before taking any decision.

Https://www.ft.com/content/123cab66-6b63-4964-9989-91cc7cc40f40

I repeat myself: the average yield of gold mines operating worldwide is less than 1 gram per ton. Just one more reason why we should have long since reached .50.

As a reminder of how high the grades are:

The FS 2022 showed that the La India project contains a high-grade mineral resource estimate (MRE) of 9,672,000 tonnes at 3.5 g/t gold - 1,088,000 ounces of gold - in the indicated mineral resource category, and 8,642,000 tonnes at 4.3 g/t gold - 1,190,000 ounces of gold - in the inferred mineral resource category. The MRE for the open pit includes 8,693,000 tonnes at 3.2 g/t gold - 893,000 ounces of gold - in the indicated mineral resource category, and 3,026,000 tonnes at 3.0 g/t gold - 291,000 ounces of gold - in the inferred mineral resource category. The total MRE for the underground resources comprises 979,000 tonnes at 6.2 g/t gold - 94,000 ounces of gold - in the indicated mineral resource category, and 5,615,000 tonnes at 5.0 g/t gold - 98,000 ounces of gold - in the inferred mineral resource category.

Do you have a link please?

With this link, you can get real-time data in the daily chart for free

Https://uk.advfn.com/stock-market/london/metals-exploration-MTL/share-price?java=1

TEST

Hi Punter

that sounds promising.

if MC had bought drills instead of a mill, and invested the money in drilling, we would be much further along today.

And if Darren had taken the helm here a few years earlier, I would be a rich man today and could retire.

I wouldn't say that the POG is less important to us. If everything goes smoothly, we will soon be producing around 300k ounces.

I feel like in the old Condor days when it was said 'we are drowning in targets'... but the share price kept falling every day...

This is also my thinking. That s not normal...every day red red red

Hello,

I have a question about Dupax.

Are there historical drillings, and if so, what were the grades?

I know that in La India, the gold content is over 3 grams per ton.

In La Mestiza, even around 7 grams.

These are absolute top values, considering that the global average of all producing gold mines is under 1 gram per ton.

This is another fact that is not priced into our market capitalization.

Anyone buying at these prices will regret not having bought more.

Here we go again with the circus: Big seller, big buyer. I can't listen to this anymore. Surrey is completely right. 50p is the appropriate share price at the moment. In my opinion, we are simply not listed on the right stock exchange.

I could live well with the current market capitalization........ if the PoG is $1,900. In La India, maybe 15 percent of the areas have been explored, so well over 10 million ounces could be waiting there. Even with the 2.4 million ounces currently, our market capitalization is a huge joke. Especially when you consider that the AISC is only around $1,000. In a year, production will start in Nicaragua, and we will quickly make more profit in a single year than the entire company is even worth. Dupax/Runruno not even included. The ratio just doesn’t make sense. By the way, isn’t the stock market supposed to trade the future? I can turn and twist it however I want... I am just not satisfied at all with the current share price. Am I alone in this opinion here, or what do you think? By the way, I have been a Condor shareholder since 2006 and own 1.8 million shares.

That's exactly what I mean. In La India, hundreds of millions have been invested over the past 20 years. From exploration work to various water projects to senior dance programs for the population. In a year, we will finally be in production. So it's about time that these facts are reflected in the price.

POG rises by 80 dollars today. If we assume 10 million ounces just in La India, that makes a gross increase of 800 million. Something must be wrong with our market capitalization. I’m probably just too dumb.

Our fair value is at least .50.

Soon 250 000 ounces Production with PoG 4000

But it could also mean that the drill holes were much better than expected and that the drilling program will be adjusted accordingly. After all, it’s all speculation.