Condor Gold Share Discussion Threads

[temujiin] 08/7/2019 23:54

Indeed a meaty dilution Andy, but £4m is a tidy sum that hopefully will take pressure off if B2B or any predator was thinking CNR was mildly desperate. Always good to keep a reasonable bank balance.

[andy] 08/7/2019 23:19

tem,


Correct, I thought it was 20 million shares plus the Nicaragua Milling, because further down it said "excluding Nicaragua Milling", but in fact 20 million was the total for the two placings.

Still 6 million warrants as well, so still a hefty dilution, but at least it keeps the lights on.

[paleje] 08/7/2019 22:58

I think these warrants are less demanding than previous and plenty of time to exercise, I should hope they’d be in the money and with a good profit within 12 months let alone 3 years.

JM must see some light even if the rest of us can’t be certain at this stage. It’s all a punt on AIM but this one seems better than many imo.

[temujiin] 08/7/2019 21:19

Indeed, a 50% dilution there, plus warrants!
==========================

I think not.

Today
'following Admission of the Nicaragua Milling Shares, the Company will have a total of 94,663,522'

A 50% dilution would mean 111 million shares in issue.

Info
As of May Ordinary shares in issue 74.47 million
Warrants ex price £0.65 (expiry 3/2020) £1.9M
Warrants ex price £0.31 (expiry 2/2021) £1.1M

[temujiin] 08/7/2019 20:52

I read this as 26 million new shares being issued.
================

These shares come with warrant rights, but others have before but weren't exercised as the price didn't reach a value to warrant exercising the warrant.

Cash is a substantial raise, and good to see directors and especially Jim M take another slice and a new investor with good experience by the looks of things.

Tolling agreement with B2B is best bet imo for a re-rate, or perhaps less likely out of blue JV or TO/Sale.

[paleje] 08/7/2019 14:43

Is there any kind of commitment to come to an arrangement with B2Gold between now and having own processing facility in place or is it just what everyone's hoping for?

I don't hold, just spotted it last week when Mellon was talking up gold in general and happened to mention this one where he is a director and shareholder. Have to say, can't fault him for putting his (additional) money where his mouth is albeit at an unattractive price for LTHs to bear.

[dexdringle] 08/7/2019 13:35

I read this as 26 million new shares being issued. 20 million new immediate and 6 million warrant shares (each 'unit' = 1 share and the right to one third of one share at 25p at some point in the future).

Current shares in issue 75 million and will then be 100 million (or thereabouts) after exercise of warrants. We are therefore diluted by 1/3rd but the company gets £4m now and further £1.5m from the warrants later on.....

[rhuvaal2] 08/7/2019 10:13

To keep the lights on and achieving whatever until a buyer is found, now being a most profitable mine in the making... years of hard work done

[andy] 08/7/2019 09:09

Pug,


Indeed, a 50% dilution there, plus warrants!

[pugugly] 08/7/2019 08:44

Very dilutive and warrants put a 3 year cap at 25p - Not nice - but keeps the company alive.

[zangdook] 08/7/2019 08:37

"The Placing Price represents a small premium to the 30 day volume weighted average price of 18.82p on 5 July 2019."

No it doesn't, because the placing is of units which are not the same as shares. I wouldn't mind swapping my shares for units.

"proceeds will be used to advance the La India Project towards production following the grant of an Environmental Permit to construct and operate a 2,800 tonne per day processing plant with capacity to produce 100,000 oz gold per annum from La India open pit."

Does that mean that following grant of the permit, the placement proceeds will be used to construct the processing plant?

Or does it mean that following the grant of an Environmental Permit to construct and operate a plant, the placement proceeds will be used to advance the project towards production (with another placing possibly being required to actually build the plant)?

[pugugly] 08/7/2019 07:05

Very dilutive and warrants put a 3 year cap at 25p - Not nice - but keeps the company alive.

[rhuvaal2] 07/7/2019 10:33

So, in times to come there'll be many saying "wish I had bought a shed-load during the summer of 2019. Foresight and hindsight...

[edjge2] 06/7/2019 22:36

after this gold price correction expect we may see parabolic increase in gold price

[temujiin] 04/7/2019 21:58

CNR shld have a good re-rate eventually imo, but atm they aren't making any money. That would change if they get a tolling agreement with B2B, in which case they become much more attractive as an investment.

ATM though they have a great asset, but no timely way to exploit it, hence the lack of excitement compared to actual producers.

[avsome1968] 04/7/2019 19:55

Surprised Condor are not on move yet considering how strong the momentum is with gold, if gold can be around this price in 6.8 month's time we will be popping the corks, I've added a few more today think there a bargain.

[888icb] 03/7/2019 21:59

And the late reported trade was at 19p on a low volume day.

[shakester2] 03/7/2019 20:41

Nice 100k buy late reported

[goneawol] 02/7/2019 19:43

With thanks to tester123..

[rhuvaal2] 02/7/2019 09:25

yes 888 = EVEN more gold

[888icb] 02/7/2019 00:21

I think they want to sell and this makes it more saleable as there will be even more gold.

[temujiin] 01/7/2019 20:06

It is good news, but I'd rather they spent the money they have getting the first mine up and running with a tolling agreement, or JV to full production, before drilling more holes in new exploration acreage.

[888icb] 01/7/2019 12:13

RNS granting Condor a new concession adjacent to its existing La India is good news as it shows progress and That Nicaragua is still positive on gold mining. UP 5.8% on low volume.

[frogkid] 28/6/2019 14:00

Hi Boris, what's the deal here ? Been watching for a while.Frog.