Yes, Sir A, but I don't think Nick Candy is interested in playing childish games. How can you do business with people who lie all the time? At the very least you need a big risk discount. What's the point of citing Calibre as a competitor when Calibre come out immediately and call you a liar?
They haven't even corrected the London RNS to take account of Calibre's denial. |
RNS.
Not a holder here, good luck all. |
Connect, have you ever understood the concept of a BB, or broadly speaking of a debate? |
It’s gaming if you hadn’t realised it yet. Some decent money to be made by latecomers. Not me sadly. Good luck. |
If I were Nick Candy I would walk away. If he didn't already know from due diligence that you can't trust a word CNR says, he'll know it now. Is it worth the hassle? You start putting the mill together and it turns out MC still has a couple of nuts in his pocket and suddenly you have to sponsor his toboggan team and keep him on retainer as a consultant..
And they're not even clever lies - "we have all the land...we don't need all the land", "we have another offer on the table" - immediately contradicted. |
So Condor says
it has received two non-binding offers from Calibre Mining Corp and Metals Exploration Plc which may lead to an offer for the entire issued and to be issued capital of Condor
and Calibre says it has discussed buying *the asset*, but
it is not currently in discussions with Condor, nor does it have an active offer
So one party is lying, and I'd say 100% probability it's Mark Child. It would be amusing if MTL also deny the story. |
I reckon around the £100m mark would be a good result given our history. I'd be happy to take the Metals offer as it stands. Calibre may be just playing a game but we have an offer on the table, they'll have a hard time refusing. |
 Calibre Mining Responds to Condor Gold Announcement Dec 1, 2024
VANCOUVER, British Columbia, Dec. 01, 2024 (GLOBE NEWSWIRE) -- Calibre Mining Corp. (TSX: CXB; OTCQX: CXBMF) ("Calibre" or the "Company") reports that it was referenced in a Condor Gold news release. Condor Gold initiated the sale process for their La India gold asset two years ago. During this time, Calibre acknowledges having engaged in discussions with Condor regarding the potential acquisition of the La India gold asset, which aligns well within Calibre’s Hub & Spoke operation. However, Calibre confirms that it is not currently in discussions with Condor, nor does it have an active offer. At this time, unless Condor is willing to reengage in meaningful discussions, Calibre does not envision completing an acquisition.
About Calibre
Calibre (TSX: CXB) is a Canadian-listed, Americas focused, growing mid-tier gold producer with a strong pipeline of development and exploration opportunities across Newfoundland & Labrador in Canada, Nevada and Washington in the USA, and Nicaragua. Calibre is focused on delivering sustainable value for shareholders, local communities and all stakeholders through responsible operations and a disciplined approach to growth. With a strong balance sheet, a proven management team, strong operating cash flow, accretive development projects and district-scale exploration opportunities Calibre will unlock significant value. |
Still have 11,750,000 shares in METALS EXPLORATI0N PLC |
Calibre is the obvious Acquirer of CNR
I have mentioned this on previous occasions, Calibre is the obvious Acquirer of CNR. It is the mine next door and Calibre has made the company from its profits in Nicaragua. Calibre can start making money straight away by trucking to its hub and spoke mill. Calibre have a full management team nearby so their overhead costs would be lower than any other bidder. Calibre have been playing games for years refusing to agree to toll milling presumably hoping to get CNR very cheaply. My guess would be MTL are being used to flush out a decent bid for CNR from Calibre. It would be very bad business for Calibre to let anyone else acquire the literal gold mine next door that is Condor imho. |
Why not leave the morons to be morons then, or are you trying to save everyone? |
Insiders cannot sell shares now, its well and truly a closed period, in fact it was already! |
Connect, did you read the CNR statement?
It says press reported possible offers for the whole company (share deal)
And it said the asset only is for sale (asset deal)
Therefore exactly nothing will happen, except the share price jumping up on Monday fuelled by morons, giving Jim and his team the possibility to dump shares.
But I guess you do not get that, right? |
25p cash and 25p equivalent in paper would have been visible in the share price. |
So the can is again kicked one month further down the road.
See you shortly after christmas |
There's been release via email so probably be RNS in morning:Condor Gold plc (AIM: CNR; TSX: COG) notes the press article released today and confirms that it has received two non-binding offers from Calibre Mining Corp ("Calibre") (TSX: CXB; OTCQX: CXBMF) and Metals Exploration Plc ("Metals") (AIM: MTL) which may lead to an offer for the entire issued and to be issued capital of Condor ("Possible Offer"). The Company announced on 27 September 2024 that, in relation to an asset only sale of the Company's La India Project in Nicaragua, the Company remained in discussion with a number of interested parties, both longer term and more recent, with several new parties having expressed an interest, been given access to the data room and indicating a wish to conduct site visits. The Company has now received two non-binding offers from Calibre and Metals with respect to a Possible Offer. There can be no certainty that any firm offer will be made, nor as to the terms on which any firm offer might be made. In accordance with Rule 2.6(a) of the Code, Calibre and Metals are required, by no later than 5.00 p.m. on 29 December 2024, being 28 days after the date of this announcement, to either announce a firm intention to make an offer for Condor in accordance with Rule 2.7 of the Code or announce that it does not intend to make an offer, in which case the announcement will be treated as a statement to which Rule 2.8 of the Code applies. This deadline may be extended with the consent of the Panel on Takeovers and Mergers (the "Panel") in accordance with Rule 2.6(c) of the Code. As a consequence of this announcement, an offer period has now commenced in respect of the Company in accordance with the rules of the Code and the attention of shareholders is drawn to the disclosure requirements of Rule 8 of the Code, which are summarised below. |
Correct - SAF = Sunjammer |
hadn't realised SAF = Sunjammer
echo your thoughts re £100m, although 25P paper might be pushing the dilution
a far cry from what we should be sold at but a damn sight better than where we are today |
We’ve started a speculative thread over on LSE, guessing cash and paper. I’ve thrown my hat in the ring at around 25p cash and 25p equivalent in paper. It’s a total punt valuing us at £100m which is still a stretch. |
Not yet clear what this means but what it does mean is that we are in play, finally. Could do with some positive speculation for a change.
RNS tomorrow for sure forced by the panel, that direct from Mark today! |
A Chubbs is on the board of metal which was set up this year and was on Hanna. |
People, just let me tell you: Be careful and think before you act.
Let’s see what the coming weeks will bring |
Sky news valuation
“Exclusive: Metals Exploration, a London-listed mining group backed by the financier Nick Candy, is close to agreeing a cash-and-shares deal to acquire Nicaraguan-focused gold miner Condor Gold which will value the combined group at over £150m. Full story here soon.”
When they say it will value the combined group at over £150 million it would appear they have got to that number by simply adding together the current market caps of MTL and CNR which are nearly £100 million and nearly £50 million respectively.
The report also states:
“ Mining industry sources said a deal could be announced as soon as this week at a substantial premium to Condor Gold's current valuation.” If CNR are going to achieve a substantial premium the value of the combined group would need to be a long way north of £150 million.
If CNR were to go for 50p which is double the current share price (which is nowhere near what the actual value of CNR’s shares) then that group value would need to be £200 million.
Tomorrow should be very interesting and hopefully the start of a bidding war if MTL’s offer isn’t high enough. |
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