Condor Gold Share Discussion Threads

[septblues] 02/1/2023 08:05

Book5 - did you attend the Nicaraguan cigar promotion event at the Embassy of Nicaragua in London? - I like a good cigar and looks like a fun event

[pugugly] 31/12/2022 17:32

BahamasOil - Thanks -
" market capitalization of B2Gold Corp. currently standing at about $3.87 billion Amex valuation. ,"

So CNR at current market cap would almost be a rounding error in their books. If there is any value in CNR B2G would have a lit of awareness of a possible potential.

[bahamasoil] 31/12/2022 16:27

B2 Gold previously owned the licence but swapped for the Calibre assets

[pugugly] 31/12/2022 16:13

Just had a thought Could any of the Canadian gold/silver/copper miners active in Latin America be interested here? As Canada possibly less exposed to S sanctions. If so guesses/thoughts as to whom?

[book5] 31/12/2022 13:58

I don’t really know
Figure of 2027 is in the back of my mind, may someone has the year at hand?

[bahamasoil] 31/12/2022 13:37

Does the licence expire before six years?

[book5] 31/12/2022 12:29

The way I see the possible scenarios:

what a cnr failure means to condor shareholder and miners:
Cnr sells La Mestiza
Nobody wants la India (too risky to pay a cent for it) and it passes to the government and back to the miners, miners will be happy. the drive of this is new owner would need to keep people employed, but calibre will not be interested in building a new plant.

The other option would be: since cnr has failed to finance the mine let’s prolong this by doing a toll deal from la mestiza till we have a new government - sanctions are lifted or whatever….just surviving is good enough. Under this case:
- we save btw $6 to $8 million per year for say 6 years. Sp goes to 30p and many will sell and exit.
- miners (mainly squatter miners) keep mining on the coop land and perhaps on few areas in La India with cnr consent
- after 6 years we build la india and the squatter miners get employed in the construction of the plant and then some of them are given new jobs in the mine. even if only for 6 to 10 years this should be acceptable

There may be other options (may be a joint venture where we lose a large % of the business to someone that finances the mine), but politically u will need to keep employing many of the miners or risk riots. The size of the plant may be scaled down to reduce investment.

4th option we find a non-Nicaraguan based buyer who builds the mine! the selling price will not be very attractive given what has happened to the market cap of fellow industrial miners in Nicaragua. JM probably breaks even under 30p

Government is now explicitly saying that only gives concessions to companies able to build mines, most probably it is disappointed with the the lack of progress.

Sorry for the chaotic writing, on the move as I write it

[zangdook] 31/12/2022 12:05

The problem with selling the assets is that it's unlikely to raise much money and we shareholders will lose out.

If Condor sell the assets there will be one buyer for local miners to talk to, just as there is now. In fact it will probably be easier, as the new owner will not be tied down by CNR's nonsensical dogmatic refusal to pay the asking price for the remaining land. Do you imagine CNR are planning to carve the concessions up into small plots and sell them off one by one? Are you exceeding your doctor's guidance with those colourful pills?

[septblues] 31/12/2022 08:09

I think book5 is saying "anything but" Condor's strategy of selling the assets, because under selling the assets, the artisanal miners no longer have one owner to negotiate with and have run out of negotiating options. Their negotiating strategy falls down. Family assets have less value. "Forever" lifestyles wither away.

[septblues] 30/12/2022 16:49

Book5 has told us he's a civil engineer and a scion of an artisanal miner in Nicaragua.

Calibre is smaller than Condor.

[dexdringle] 30/12/2022 12:32

xasY 👏👏👏👏

[grimreaper2019] 30/12/2022 12:16

Are you and your multi alias chums working for this outfit 'book5' - they are the most likely buyers and would clearly benefit from as much negativity around Condor as possible during the sale process.

[book5] 30/12/2022 12:04

Our NPV does not allow for the risk premium the market is putting in Nicaraguan assets.
Any Chinese or Russian investor will not pay more than equivalent assets to ours in Nicaragua
Why have MC and JM not explained the above concepts? Bcs they need the cash to enable (shovel ready) a low price sell rather than leave it to bully up if we were not able to buy the rest of the land due lack of funds.
Imho currently They do have not have a single firmed offer, otherwise they would not have asked for cash.
But I insist still we could end up mining the gold , first through a toll deal, then through a joint venture. And imho these is the only feasible solution to avoid ending up with very heavy losses in my Isa account

As we are 1.6 million short we may not buy the land as yet, but rather invest it in a toll deal from la mestiza

[redprince] 30/12/2022 11:35

post 10117 - i would happily settle for the midpoint between the price range you mention!!

[dexdringle] 30/12/2022 11:25

Well 888, the share price has fallen from 50p to 15p in 18 months so, on that basis, the derampers were actually visionaries. At the very least they were vindicated.

I wish I'd listened to them. I could have sold at 50p and bought back 3 x the number of shares now with the same money. I'd much rather have 300,000 shares at 15p than the 100,000 shares I now have at 42p (which is post this weeks placing in which, against my better judgement, I did partake).

After 10 years or so of ownership, I find myself hoping that, at best, I might get at least half of my investment back. There is no getting around the fact that this whole project has been an utter, unmitigated, financial disaster for investors. But a nice little earner for the CEO and other hangers on.

[888icb] 30/12/2022 10:49

Well said Grimreaper this board has long been dominated by a group of derampers and some with multiple aliases. Book5 has long been the lead deramper responding to every post and claiming local knowledge. The bb is a deramping club and as such is largely ignored.
I was asked yesterday on lse to give my thoughts on what the share price will equate to on a sale of the assets and I responded:
“ If I comment on likely share prices I only do so on the basis of what the company tells us about the value of our assets by RNS or in the course of interviews or presentations. We have all seen the BFS and you can work out value from that. In terms of comment from Mark in his interview at Mines and Minerals on 9th December he talked about having US$100 million to 200 million from the asset sale. Converted to Sterling that’s £83 million to £166 million approximately.
Based on the current market cap and share price the suggested share price would be between x3 and x6 the current share price of 15.35p.
The predicted range would therefore be between 46p and 92p.”

[grimreaper2019] 30/12/2022 08:18

More evidence 'book5' is a paid basher look no further than the above post, the bashing starts right at the open.

The fellow is so poor at his job it is blindingly obvious what the intention is.

He says....

'small directors do not hold many shares so no excuse for them not to buy at these levels'

Every man and his dog knows directors cannot buy shares during a ongoing sales process.

Now who is doing the paying, maybe that mid cap local company that has a mine nearby.

[book5] 30/12/2022 08:02

Zangdook
I agree with u
Which means
They do not believe this will be sold above 15p
Or they see this as too risky , ie it could get belly up before it is sold
Small directors do not hold many shares so no excuse for them not to have bought at 15p during recent capital raise.
I personally believe a toll deal is coming, in my view there is not other way
Calibre went up yesterday , they should benefit from cnr, hopefully we too

[zangdook] 30/12/2022 05:33

We still haven't had a directors' holdings RNS. I think it's fair to assume that none of the directors took part in the open offer.

Mellon took his but only because a gazillion options were attached, and his increased holding was covered in the 21 Dec RNS, which didn't mention any other directors.

[diggybee] 30/12/2022 00:22

MC's opinions are worth about the same as a toddler's after ice cream.

[grimreaper2019] 29/12/2022 19:37

Still working the boards 'book5' would love to know who you represent and how much you are being remunerated.

Your posting (bashing) has gone into overdrive since Condor put themselves up for sale, therein lies the clue.

[book5] 29/12/2022 16:16

A mansion in Nicaragua would cost millions of pounds to build, but the reselling value would be a fraction of that

Caliber NPV of all its reserves is probably many times its current market value. Why should the market value CNR differently? We do not generate cash, nor has assets abroad.

The only way to get the NPV is actually mining the gold ourselves, get a toll deal and reduce costs by getting rid of all the lightweights in the uk and part of the Nicaraguans too. Then save the deposit to finance ourselves the mine

Anyone one with cash would buy whatever is cheaper and safer, he or she would look how other business are valued in nicaragua

It will take years to take our investment back, I hope we are able to start generating cash soon bcs if we sell it would be a disaster for my pocket (imho we would be lucky if we get 27p per share in current market conditions)

[septblues] 29/12/2022 16:00

MC said Condor was worth £1.20 per share at the recent Denver Gold Forum