Condor Gold Share Discussion Threads

[book5] 11/12/2022 19:07

Are you keeping your spreadbet short papillon?

[papillon] 11/12/2022 19:00

free stock charts from uk.advfn.com

[book5] 11/12/2022 17:37

The miners do not make less makes 500 cordobas per 8 hours shift
Others are paid by production and make 1000 cordobas per day
Pls MC tell us how much make:
- drillers
-security guards
- social workers
-machine operators working for subcontractors
-office workers

The info about the wages given in the email does not look right, MC should disclose the salaries of the above roles, as well as the working hours per week.

Tell us of a newspaper article substantiating the claim population of the village voted for the mine

Local people are very polite, and obey the law and respect private property.They want a fair deal. Imho it is a shame and an error we did not get the land before, this is probably preventing us from selling the company, and may be even the financing

Mc should say what the three options for the land are and what the implications for la mestiza will be, if any. Is this why the mestiza was not part of the BFS?

It is true many associates want cash and many (possibly the majority) are very old and not longer work as a miners for several reasons. But some have passed their right to younger miners.

During The dry season (probably ending around May) there will be hundreds of miner squatters than are not associates , police will need to deal with them or cnr will need also to negotiate with them. No info about that…I imagine police will be called to kick them out

I believe it is very easy to deal with la coop and achieve a deal with them. What we don’t know is the quantity and the implications of the land swap, at least not yet. Imho as soon as we get the money it should be really easy to do a land swap + the approx $1.1 million cash consideration to buy the coop’s land

The share price looks a good value, and we just need to be truthful

[pugugly] 11/12/2022 17:30

But he does not say absolutely that the Company has the land or an agreement to obtain it. Message received from the above copy post is that that the Cooperative could still foul up any deal.

[connect5] 11/12/2022 17:23

Just to clarify this was an email to another poster on LSE not to me.

[connect5] 11/12/2022 16:38

Firstly, MC is normally reluctant to allow email responses to be posted online but he has given me permission to post this response from yesterday. I asked around whether the last bit of land will impact negotiations now we are selling the asset. This was his response:I was at La India yesterday hosting a site visitThe co-operative own a very, very small plot of land in the La India open pit. We have deliberately not purchased this land as the co-operative want to continue to work and earn money until the last moment. There is a detailed co-operative re-location plan which includes 3 different relocation options. Keep in mind this is not just about buying land. it is about "livelihood relocation", which is an IFC phrase.Over 50% of the members of the co-operative are no longer involved in artisanal mining, they have either retired or moved on to an easier or less dangerous occupation. We have also weekly contact with the co-operative. Many have worked for Condor over the years as field assistants, for example when we have been drilling with 5 drilling rigs on a 24/7 basis, each rig directly employs 12 local people. The non working members of the co-operative want a cheque ASAP as they get no income when not working.Condor has run training courses for 120 people this year. jobs for the future mine. Many are artisanal miners or in the families work in artisanal miners.70% of the local community work in artisanal mining in one way or the other. They support the mine and see it as a way of earning 3 to 5 times more than being an artisanal miner, with heathcare, insurance and meals. The drinking water project cost US$250k and distributes over 900 x 5 gallon water containers to over 450 households weekly. This is mainly to artisanal miners families. The community has voted for the new mine, hence the permits.The relocation cost are included in the upfront capex number of US$105m.End of email. It's good to know relocation cost is already incorporated into the capex numbers. The land has never bothered me unlike some posters (particularly over on advfn).

[dexdringle] 11/12/2022 14:49

"his boyfriend" 🤣👏👏

[zangdook] 11/12/2022 14:17

misterx filtered. If he can't be bothered to read the board and see that our concerns have nothing to do with his boyfriend the discredited tipster, I shan't bother reading his silly posts. Recent interview with the lame duck lying CEO ffs!

[book5] 11/12/2022 12:12

If this is shorted now it is bcs they don’t know what is going on

[book5] 11/12/2022 11:23

It seems very strange for a business with a buyer asking for cash

We do Not have a buyer yet

We need the cash mainly to comply with the requirement of owning the land, the rest of costs could be pass to the buyer without difficulty

Hopefully soon we will have a firmed offer for when we own all land (perhaps different offers depending what land we end up owning).

Greed has been our downfall

But I know we can get the land swap if we give away la mestiza, or may be a large part of it

What the government will do is another issue all together outside negotiations with the miners. We have been waiting for a cpo for a while. None cpo has been issued to acquire any land yet

[dexdringle] 11/12/2022 11:20

M1sterex. Oh, I see. It is because he wanted to drive down the share price so he could fill his boots at 15p. Just a ruse so he could buy cheap.

Brilliant. So the business is fine and we are all saved after all 🙄

Having said that, where are all his buys ? 🤔

[book5] 11/12/2022 11:20

The miners would sign tomorrow

[m1sterx] 11/12/2022 10:59

Isn't it interesting that ever since that scumbag Winnifroth and his shorters blog targeted Condor every man and his dog have found excuses to bash the company on this site.

It may be worth referring to the recent interview with the CEO who talked about 6 or 7 interested parties involved in the sale process already, urging shareholders to take up their full offer entitlement and casually proceeded to mention a possible takeout price of $100m to $200m - Condor is currently valued at £30m

One may like to ask why Winnifroth suddenly targeted Condor some weeks ahead of the Open Offer RNS, the share price was around 25p at the time, it does not take a genius to work it out.

[dexdringle] 11/12/2022 10:44

If it was that simple they'd have done it by now 🙄

[book5] 11/12/2022 09:53

Land issue like it is very easy solve if we are fair, miners want gold in the ground
for gold in the ground
Recently the coop leader has been threaten by other miners no to betray them or otherwise…
Condor has been lavishing the cooperative leader with expensive favours

perhaps a possibility to improve the sharing of la mestiza would be that 🧨 explosions conducted by the industrial miner only take place when miners are not working…
Imho This will be short out with a generous land swap not later than next may. So much time has been wasted here, and gold from la india taking out, ….cnr wants the last oz of blood from the miners, let’s see what the government says

gla

[hms_trader] 11/12/2022 09:31

Interesting to note in this RNS of 12/9/22 CNR itself acknowledges that this land acquisition isssue is a *material risk* to project execution and that there are discussions with artisinal miners. Understandable how this would form a significant point in negotiations for any would be acquirer and no doubt a discount would be demanded to fair value if this is unresolved prior to any acquisition. "... The Company continues to advance its land acquisition programme to materially de-risk the Project execution. Offers to purchase have been made to all landowners and, as of March 2022, Condor has acquired 99.6% of the core areas of La India open pit, waste dump, TSF, processing plant location, explosive magazine and internal roads...Condor is committed to establishing fair agreements with artisanal miners that will need to be relocated from the La India open pit area, through proactive and positive engagement. " 

[hms_trader] 10/12/2022 19:12

hi all,

looking in here

[EDIT]

have read through a tonne of old posts, and wanted to express my appreciation for, amongst others, the input of book5, zangdook, oldgeordie, sharenotes - has really enabled me to understand the key issues here - thankyou!

[dexdringle] 10/12/2022 13:16

That, my dear zangdook, is an excellent point well made.

If her Mom allows her access to the computer, no doubt Morrgan will be along shortly with some witty quip about me being an old giffer 🤣

[zangdook] 10/12/2022 12:48

yes, but if you hadn't invested your life savings in a "gold mine" in Latin America that wouldn't have been a problem.

[dexdringle] 10/12/2022 12:16

I had a flyer through the door about an over 50's retirement village being built nearby. I didn't respond to that but I wasn't asked to sign an NDA 🤔

Looked nice - but the prices, and ongoing maintenance fees, were insane.

[sharenotes] 10/12/2022 11:03

As I understand it, 80 ’flyers’ were sent out and that has already lead to 6 NDAs being signed - a response rate (qualified with a NDA) of 7.5%. Now response rates are typically quite small, so 7.5% is not too bad at all. Let's hope the typical conversion rate for the mining sector is not too shabby either!

[book5] 10/12/2022 10:27

On today news: The uk has imposed sanctions to some low ranking Nicaragua mayors/officers

I am moderately optimist this time we will get all land and sell above 27 per share during next 6 months. So at this level hopefully it is a buy

[corrientes1] 10/12/2022 09:35

Funny how one thread is mainly very optimistic and another mainly very pessimistic.

[goldenshread] 10/12/2022 08:42

In respect of Mark Child taking all his open offer entitlement I wondered if he has the ready cash available, it amounts to £106,000 for his 710,000 share entitlement.

I also noticed some here say they will only subscribe for new shares if Child and other board members take their full entitlement, surely that will only be known after the offer closes.

One would expect if the offer is well supported the underlying share price should recover in anticipation of news.

[morrgan] 10/12/2022 08:20

dexdringle,
Why is it that when someone has losses, they always claim after it is peanuts?

Because it's not.
🤣🤣🤣