Condor Gold Share Discussion Threads

[dexdringle] 08/10/2023 12:54

So, we spent £100 million creating an entity which has a current market value of £36 million.

I wonder what the breakdown is of the £100 million spent ? I wonder what the business plan (assuming there was one) suggested the business should look like at this point?

We would have been far better off if the £100 million had been put in a savings account for 15 years 🤣

[texaschaser] 07/10/2023 19:51

one horse trick

[pugugly] 05/10/2023 19:26

Totally agree with "naive" Another way of putting it might be "Too much of a gentleman"

[corrientes1] 05/10/2023 12:35

The only consolation concerning this particular load of rubbish is that many other tiddly 'mining' stocks are going to their intrinsic value, which is zero.

[book5] 05/10/2023 09:00

The citizens of the countries with the most inflation in the world do not trade with gold; they trade with fiat currencies, whatever they are.
Why would the US consumers be different?
Gold is a store of value and will go dramatically up only if the world as we know it is about to collapse.
Gold should go steadily up in the long term.

[oldiegoldie] 05/10/2023 07:01

We do not yet know what will be the underlying asset of a reformed / new Chinese or BRICS currency. It could also be something different, another precious metal or oil - who knows.

The problem is that world trade is done in US$, and as long as this is the case, nobody cares about other trading currencies.
At least oil would need to be traded in a new currency, before this scenario is plausible to materialise. This is maybe in the far future, but not for the next 10-30 years.
These hypothetical gold price calculations “debt / available gold” are total rubbish, sorry.
It is on the same level of analytical skills as believing CNR share price needs to go up xyz 10000% because the gold in the ground is xyz times more valuable than the MCap.

The next decades will be at moderate to high interest rates all over the world, gold is less attractive in this environment. All countries including China are addicted to debt, nobody wants a “hard currency”.
I am out of almost all my gold stocks. It took a while for me to understand, but the gold bug theories are nonsense, and I suggest you critically analyse them too.

[meanreverter] 04/10/2023 23:15

All fiat currency is, as ever, being debauched. But fiat is very convenient — especially the US dollar. As long as the dollar's debauchery is not much worse than that of its rival (the only present contender being the euro), it will be tolerated.

The main potential exception to this tolerance lies in the $3trn foreign-exchange reserve of the People's Bank of China. If the dollar, euro, etc. degrade at a faster rate than is compensated by the interest that those currencies can attract, the PBoC will eventually tire of the declining value of its holdings. Fiat will have lost its role as a store of value and will be needed only as a medium of exchange. For the latter purpose, China requires only a fraction of its reserve in fiat, the rest being better kept in a liquid asset that keeps its value.

The key to whether this move by the PBoC takes place is whether interest rates can compensate the rate of currency degradation. In turn, that depends on whether, in the case of the dollar, the US government is able to afford such interest payments. Based on the deadlock in US politics, arguably the interest cannot be funded by increased taxation or reduced government spending. Consequently, it must be funded by further debt.

The US is thus potentially sailing into an inflationary debt—interest feedback loop. (The euro will likely fare little better.) When this happens, China will switch to gold — probably, to a large extent, in anticipation.

To quantify this scenario, at the present gold price of $58.56 per gram, $2trn (say) will buy 34 kilotonnes of gold: about 10 years' mine supply at the current production rate. However, it is unlikely that the PBoC will be allowed to scoop the lot by all other buyers of gold stepping back. Something will have to adapt, and that will be the gold price.

[dexdringle] 04/10/2023 18:17

Dollar / Yen is currently 1:149

I reckon it will be 1:130 by Christmas

It's going to be an interesting ride...

[dexdringle] 04/10/2023 16:31

This is an interesting hour if you have a spare hour (admittedly, he does take an hour to cover what he could have said in 20 minutes 🤣)

[dexdringle] 04/10/2023 16:26

No, sorry, I meant, for example, the Japanese selling their $1 trillion of US Treasuries. Or at least not rolling them over when they mature. They'd get actual US$ which they would then sell / exchange for something else thus putting downward pressure on the dollar.

Once everyone accepts that the US$ is a massive fiat ponzi scheme as the $32 trillion of basic government debt alone is unrepayable let alone the contingent liabilities (Medicare, pensions etc) which are probably twice as much again. They will be getting out of US dollars like nobody's business. It is in no ones interests just now to trigger this - but I'm sure it's part of the plan of countries holding significant amounts of US Treasuries....

Something ugly is coming. Gold will once again be a 'go to' safe haven....

[oldiegoldie] 04/10/2023 16:05

That’s a weird theory…
How can you reduce your debt by selling treasuries?

[dexdringle] 04/10/2023 15:20

I think when it dawns on the foreign holders of US government debt that it simply can't be repaid they will be selling those treasuries. In effect selling dollars and exchanging for other currencies. That will put downward pressure on the US$ - especially of the BRICS launch a gold backed currency......

[oldiegoldie] 04/10/2023 12:23

The dollar will not fall like a stone.

The EUR, the GBP and some other secondary currencies will fall like stones, yes, but certainly not the US$

[book5] 04/10/2023 05:46

Who knows may be la india goes to the Russians

[diggybee] 04/10/2023 01:55

Their tweets are abject cries for help. And poor old Mark looked like a bewildered Bambi under a spotlight at that Denver gold presentation.

[dexdringle] 03/10/2023 19:20

Today's Tweet from Condor Gold...

XXXX Strong economics, undervalued assets and Nicaragua's support make CondorGold a standout in the mining industry. GoldMining $CNR Chairman Jim Mellon emphasizes our commitment to fair pricing for our valuable resources XXXX

So, if you tell everyone that you are committed to pricing your assets fairly, they are more likely to sell 😂

[corrientes1] 30/9/2023 17:12

Seems to me like a very small part of the rest of the world conspiracy to bring down Western civilisation, and they're succeeeding too.

[dexdringle] 30/9/2023 15:22

I've got a radical idea. How about they dig up some of that ubiquitous gold they keep telling us about to cover some of the ongoing costs......??

[diggybee] 30/9/2023 14:10

There will need to be a capital raise in the next quarter if the executive team are to keep drawing their salaries.

[dexdringle] 29/9/2023 15:14

"I continue to be impressed by the executive team's dedication to spinning this thing out as long as possible so they can keep drawing their salaries"