Member Info for tomamara

Ilka, looks to me like someone has mixed up the details of the production based CVR and the resource based CVR.

Production based cvr is based on first pour and resource (increase) is based on the numbers you quoted in the production cvr.

I thought that production based CVR was simply that first pour of gold had occurred?

Is the 5.5p CVR for increased resources going to be split into 2 payments? First payment being 15 days after 3 years after the effective date of deal. Second payment in similar fashion 2 years later? If so, that isn't too bad.

The other 5.5p payment will be paid 15 days after first gold pour?

If the above is correct, then we will get payments 2,3 and 5 years after the effective date which should be in Q1 2025. Am I correct?

Okay, so they won't be appearing in any broker accounts.

DEALINGS

4.1 No application has been or will be made to any Recognised Investment Exchange for

the CVRs to be listed or dealt in on any stock exchange.

4.2 The CVRs have not been and will not be listed on any stock exchange and no

regulatory clearances in respect of the CVRs have been, or will be, applied for in any

jurisdiction.

Looks like CVRs will be in paper form?

3 If any certificate is lost, stolen, defaced or destroyed it may be replaced on such terms

(if any) as to evidence, indemnity or otherwise as the Company may require (acting

reasonably). In the case of defacement, the defaced certificate shall be surrendered

to the Company before a replacement certificate is issued.

Can investment platforms/brokers handle the CVR?

Years ago, a takeover ended up with me receiving warrants, my broker had to sell them (they were tradeable) as they could not include them in my ISA. I will message Interactive Investors to see what they say.

First pour Q2 2026, so 50% in Q2 2028.

First drill possibly 2027 so remaining 50% in 2032?

Forgive me for not getting over excited with this part of the deal. Let's be realistic and honest with ourselves, it's 9.9p and 4.0526 shares. I will have to be happy with that. My suspicion is that the CVR nonsense is a way of getting Mark Child his £500k bonus.

Webinar from MTL is exactly what is needed at this point IMO. Should be appreciated by all Condor holders. I'll be listening intently.

With MTL at 5.6p and Condor at 28.5p, you get a 14.37% discount by buying Condor shares. You also get a free bet on whether or not a better offer comes in.

Yeah, it's a big arbitrage play given that JM appears to have agreed to the sale. I really hope another buyer comes in with a better offer, but if it doesn't, I will accept MTL offer.

I'm a Condor shareholder and due to the fact that my average purchase price is 20p the MTL deal is acceptable.

However, I have to say that your board does not seem interested in keeping the market up to date with your developments and progress. Can you please point me in the direction of something more recent than February 2024. TIA.

The Condor project is ready to go, even has a sag mill in country waiting for mill to be built. All permits received.

Personally, I would take 10p cash and 30p paper with Calibre. Then hold for a possible 50% increase over the next 12 months as they increase output and rerate due to evolving into a mid-tier miner with a project in tier 1 jurisdiction.

It would be helpful if MTL had an up to date presentation. Latest is Feb 2024.

At the moment, this deal and the way that the news has come out is shambolic and unprofessional. However, if we get a better offer from a new bidder, I will be a happy bunny/

The Condor share price is trading at an 18% discount compared to the current MTL share price if the deal goes through. Either those buyers don't understand arbitrage trading, or they don't believe MTL will be buying Condor.

Very disappointed with this offer. I'm hoping it is an attempt to flush out an offer from Calibre within the next 48 hours. The value of 44p per share involves a messy, not guaranteed future event-based scenario. I'm guessing it's in there in an attempt to obtain a cash/share based offer from a better suitor for around 44p.

With a mine nearby with spare capacity and being the largest gold mining operator in the country, I would be very surprised if Calibre let this asset slip through their fingers. Buy us out for £90mil, spend whatever Capex to get going and they increase their annual production by 100k ozs. They have the staff and set up in place. By the time this deal goes through, Valentine will be processing ore, timing looks good IMO.

CMgoldgrad, it takes a couple of months for the deal to go through after they make an agreement. During that time fees will have to be paid.

Someone mentioned that the loan could keep the lights on for several months. I view the use of the loan quite differently. If a deal is imminent, Condor will need funds for legal fees, banks finder fee and maybe stock exchange fees.

Options could not be exercised because insiders have price sensitive knowledge. SAG mill is up for sale because new owners of site don't need it. I have been topping up since the announcement as I'm convinced a deal will be announced soon.

We would get shares in Mako on the TSX. Geovanni, does your broker not allow TSX listings?

Mako has $6.7mil according to its September presentation. Can only be a JV if it is them?