Condor Gold Share Discussion Threads

[888icb] 04/5/2020 11:48

Gold rising this morning currently 1713. Condor up slightly on 15 trades nearly all of which are buys for a volume of 131000 as we await news of the second permit which could arrive this week as Mark said within 2 weeks during his last interview.

[888icb] 02/5/2020 14:20

Gold back above 1700 as we start a new month. A good explanation on the other bb about how the gold market works which explains the fall in the gold price at the end of the month which the corrects in the new month. People are increasingly bullish on gold and should assist Condors rise next week. Good to see it hold above 30p ready for the next push towards proper value.

[888icb] 01/5/2020 10:55

Disappointing fall on low volume of 90000 and buys exceeding sells. The FT is down sharply for the second day running and gold is down to 1672 so perhaps that is affecting us as most shares are down today.

[888icb] 30/4/2020 16:22

Having just watched Mark Child’s interview on Proactive Investors he is expecting the other permit within the next 2 weeks. Everything is moving forward very positively and their are no adverse effects from COVID 19.

[888icb] 30/4/2020 14:55

As volume reaches 300000 we are back to 32.5p down just 4% from yesterday’s close. Hopefully we will get news on the other permit soon.

[888icb] 30/4/2020 12:44

Yesterday’s news gives Condor the ability to quickly become a producer and hence have income. This is a game changer and also makes the possibility of a bid much higher. A decent bid is probably the best exit route for most investors many of whom have been invested for many years. A bid will come out of the blue in all probability and to benefit from that you need to be invested as a bid will be many times the current share price based on the value of our gold. The traders as is there preference can continue to trade as they are today but they risk missing the big prize if they happen to be out on the wrong day.
Yesterday shows how fast this share can move but if you look at its history you ain’t seen nothing yet. Our major shareholders have stuck with this because they want £’s not pence.

[888icb] 30/4/2020 11:13

Disappointing that we are falling on low volume but after yesterday’s strong rise some profit taking is to be expected. Let’s see how the rest of the day goes as we await news on the other permit.

[book5] 30/4/2020 07:26

Futures : gold delivery in June 2020 with stronger rise than spot gold price
All good

[888icb] 29/4/2020 21:54

Jim Mellons new column is out Mellon on the Markets and this is what he says About gold.
“I also of course am banging the drum for gold. Bank of America this week suggested a price of $3,000 an ounce within 18 months. I think that is conservative.

A gilded life awaits for those who follow me into precious metals!”
He retains his long held view and is of course a Director and major shareholder in Condor. If he is right the value of Condor will soar ever higher.

[book5] 29/4/2020 17:50

The boost will be the confirmation of a plant order for up to 40 million
It should be coming from the north by road? . Watch this space, in weeks, or even on few days we may have production equipment news

[888icb] 29/4/2020 17:04

Clearly a very good day to end Up 34% at 34p on volume of 1.6 million. We moved up quickly to reach the previous high of 34.5p briefly but the dropped back to 34p and seemed held firmly there all afternoon. I hope that as people reflect on today’s good news and how massively undervalued we are, the rise will continue tomorrow breaking the previous high and moving into the 40’s. Zac Mir a chartist said today if it stayed above 30p his near term target was 50p. We could also get a further boost from the second permit which must be imminent now.

[888icb] 29/4/2020 14:45

A couple of late reported buys from before noon both for 100000 at 35p and 36p. A few more of those this afternoon would be good as we seem stuck at 34p for a while now.
Thanks to Bomber 13 for his comprehensive summary of our current position
I do think that today’s news and the other news we expect imminently will make us more attractive for a trade sale with Rio Tinto being an obvious candidate but there will be others. A trade sale is going to be for £’s not pence and this should encourage anyone who agrees with an offer being a distinct possibility would be wise to get on board now.

[bomber13] 29/4/2020 13:36

Great news this morning and the promise of more to come .

The Mestiza open pit brings 36/- oz of contained gold in the Indicated category at a grade of 12.1 g/t ( over 1/3rd of an oz ) , and 85/- oz of gold in the Inferred category at a grade of 7.7 g/t . This in turn adds to La India’s already permitted open pit resource of 837/- oz at 3.1 g/t in the Indicated category , and 68/- oz at 2.4 g/t in the Inferred category . Following Mestiza’s permitting , Condor now has over 1m oz of permitted open pit resource at its La India project thereby improving mining flexibility , project economics and life of mine . When the permit for America arrives , this will add a further resource of 30/- oz at 8.1 g/t in the Indicated category , and 67/- oz at 3.1 g/t in the Inferred category .

Condor is running a number of mining studies ahead of a construction decision to see how best to optimise the mining of both the feeder pits and the main La India orebody . It does , however , categorically state that the Mestiza open pit ( and probably the America pit as well ) is likely to be mined early on to reduce the payback period on the plant and equipment , and improve the internal rate of return . This may be done either via a toll agreement with AN Other or the construction of Condor’s own 1000 tonnes per day plant costing , say , around US$40m .

All in sustaining costs for Mestiza/America should be lower than the main La India prospect because of their higher grades , and , if one takes the original 2014 AISC forecast of US$690 for La India made in 2014 when gold was US$1250 , and both diesel costs and the Nicaraguan currency were considerably higher , all in margins at a US$1700 gold price would be over US$1000 per oz for the 2 high grade feeder pits for a total production of just under 200/- oz of gold , 111/- oz for Mestiza at an average recovery grade of 5.8 g/t , and 80/- oz for America at an average recovery grade of 3.8 g/t . A pre- CAPEX undiscounted potential profit of US$200m at a constant gold price of US$1700 , and before any of the 800/- oz of contained gold in the main La India open pit has been touched , is a considerable carrot .

Condor’s net cash at end 2019 was £2.9m , and it is due US$500/- from the sale of the Potrerillos concession to Mako Mining by May this year . Moreover , the company has £2.82m of outstanding warrants exercisable at 25p and 31p , and 50% of the 25p warrants are subject to an accelerated exercise if the mid-market share price closes above 30p for a consecutive 10 trading days , which means a potential £841/- could be raised in the near term . Fingers crossed , therefore , we leave 30p way behind .

Condor’s CEO has described the Mestiza permit as a significant development , and I would agree . He has already announced his intention to do in-fill drilling on the prospect prior to production , and this together with ongoing buying of freehold land and the engineering studies will make the entire La India project oven ready for exploitation by the end of 2020 . With the permit for America due imminently , discussions regarding a potential toll deal can start in earnest . After all , a 1m oz permitted open pit resource with gold at US$1700 , and AISC forecast at US$690 , means there is a potential US$1bn of profit in the ground .

At 34p , Condor’s market cap is still only £32m , and this value stands at about 1/3rd of its peer group's level .

[888icb] 29/4/2020 13:24

Gold has moved UP during this morning and is currently at 1711. CNR is taking a breather before hopefully pushing to a new 52 week high this afternoon. This share could 3 or 4 bag just to get to a sensible valuation compared to its peers. It could also attract an offer which should be at £2+ to be of interest but that would be very cheap against our permitted gold. We have a lot more potential on top of our permitted gold which would justify a much higher price.

[888icb] 29/4/2020 12:45

Better be quick as we are now UP 35% at 34.50 on volume of just over 1 million. We have therefore matched the 52 week high we reached in early March.

[bmnsa] 29/4/2020 11:54

ShushI'm after more:)

[888icb] 29/4/2020 10:53

We should get some more market visibility as we reach Number 10 on the leader board.

[888icb] 29/4/2020 10:31

Volume over 700000 as we hit 32p to be UP 25.5% and our recent early March high comes into view.

[888icb] 29/4/2020 10:22

Now UP 23.5% at 31.5p on volume of 531000. Imagine where we can move to if the volume really kicks in. 55 trades so far and probably difficult to buy in large trades so lots of small ones going through.

[bmnsa] 29/4/2020 09:35

Topped up again first thing:))

Back to the swinging 40's soon

[888icb] 29/4/2020 09:24

Now sitting Up 15.6% at 29.5p on volume of 255000. Once we are through 30 we should start to really move as the market wakes up to the fact that now is the time to get on board if you want to catch the long overdue rerate.

[888icb] 29/4/2020 09:12

A poster on LSE has calculated that the currently permitted 1 million ozs should produce over US$1 billion Profit. Our current market cap is £28 million!

[888icb] 29/4/2020 08:59

We now have over 1 million ozs of permitted for extraction gold and the grades at Mestiza are very high. The gold price remains above 1700. We are massively undervalued on any metric you choose to look at and against similar companies around the world. We are well overdue for a major rerate and perhaps this will be the catalyst we have been waiting for.

[888icb] 29/4/2020 08:38

Now Up 12% on volume of 246000. We should be looking to exceed our pre crisis high of 34p in early March as a starting point.