Calibre employee suggested that Calibre is not keen to increase the risk in the country |
I sincerely doubt Christmas will stop a deal if there is one to be done.
I think it's safe to say that Calibre are interested in a deal, the proximity of their mlll makes people believe they will bid.
If anyone actually talks to Calibre they normally say that they are totally focused on the contruction of their new Valentine mine, which is a major project nearing production. This will raise their production to a new level and give them mid-tier status.
I sense they would like La India, but not at the price it's being offered at, and they will be aware of the status of the land.
I still wonder whether this is to generate some bid friction, but I may be being too cynical. |
If the gold in the ground is anything like what is forecast then it is surely insane for Calibre, who are literally next door, to let this one pass.
I can, though, still see Metals doing a 'deal' with Calibre after the event - which is perhaps why Calibre isn't fussed about bidding.
We are being done up like kippers. |
 This is what Frisby says about Calibre:
“ Bidding War Coming?
In theory, between now and January 6, any other company can step in with a higher bid, although, with Christmas looming, that is now looking increasingly unlikely. To scupper this deal cleanly would probably require a bid of above 45p a share.
Calibre Mining (CXB.TO) is a C$2 billion market cap gold producer, which owns the asset next door. Its mill is only operating at 60% capacity, and it needs feed, which it could have trucked over from La India. Moreover, Calibre’s production numbers this year have been a big disappointment - unlike Metals Ex, it has fallen well short of guidance - and Condor’s La India would have sorted all its issues.
It probably could have had Condor for 36p earlier in the year, but for reasons we will probably never know - I suspect ego - the deal did not go through.
It could still come in with an offer, but I’m not holding my breath. I rather suspect there is too much bad blood.
Nevertheless Calibre could pay 75p for Condor and the accretive value would still dwarf the purchase price. But that would probably require Calibre’s management eating some humble pie which it is probably not prepared to eat.
We shall see. It’s Christmas, the time of good will, here’s hoping they can let bygones be bygones. :)”
It is very disappointing that Mellon in the last 2 years has not been able to do a deal at 60p plus even if it was all in Calibre shares. It’s such an obvious win win for both companies. Let’s hope Calibre see sense in the next couple of weeks. |
Is that Dominic 'nudge, nudge, wink, wink, my neighbour who knows these things tells me a tasty deal is imminent' Frisby ?
I've owned these for years, had zero returns, and they owe me something approaching 50p.
Not exactly Christmas is it ? |
hxxps://www.theflyingfrisby.com/p/the-condor-gold-deal-what-you-need?r=1o6vt&;utm_campaign=post&utm_medium=web&showWelcomeOnShare=true |
Here's Jimbo's Xmas Letter - at the bottom he recommends some UK stocks to buy. Guess which company is not among them. |
Not a chance in hell the way this debacle has happened. More than happy to be incorrect if a good bid is received. |
Correction. That should have been CVRs, not SRVs. |
Anyone expecting a last-minute counter bid?Bid package less SRVS currently worth about 32p.Any chance of an aftermarket for SRVs? Wouldn't have thought so but you never know. |
Might developments in El Salvador help expedite matters here? |
zangdook, I think your input might be more valuable on the MTL board than here? If the problems are as bad as you suggest then it's MTL shareholders who need to be warned. Whereas it would seem a blessing for CNR holders who are about to lose all those problems. |
13424 So you've realised there's no point trying to belittle people by calling them weird and accusing them of trying to get others to sell? Perhaps there's hope for you yet.
You seem to think there are no problems at all and Condor, after years of saying they would develop the mine and even buying a mill, decided one day to sell it instead because they don't know how to build a mine and don't want to hire people that do? How long have you been following CNR? Have you read a single one of their RNSs? |
MTL investor presentation today httPs://youtu.be/en8ZJ3NeRac?si=ONwUfu47GAAmwIwO |
zangdook, Condor has no mine building expertise. Hence, after completing the FS, they put the project up for sale rather than choose to develop it. MTL do have the expertise and are highly competent operators as well.
There's no point trying to belittle others on BBs. The real battle is with yourself and reality. Good luck. |
if I had twix up my sleeve I would keep well away from 'nick candy'. |
13418 You quote me and then say I omitted something you actually quote me saying. FFS
Obviously achieving production depends on solving the problems which prevented Condor developing the mine. You say that my argument - that there are difficult problems to overcome but if they manage it they will probably start production within five years - amounts to a "weird" "doubt" and makes you think I want other people to sell shares? Why should I care whether anyone sells shares? And your "because Jim Mellon" really gives the game away on reading comprehension. You should check what you've written before you click the button, because you're just making yourself look demented. |
Yes, he's always got a couple of Twix up his sleeve. This time it's Hob Nobbing with his fellow billionaire Nick Candy. |
My money is on Jim bringing over the biscuit stash from the existing Condor site and getting a performance related bonus for his tea boy duties!
Aimho.Dyor:) |
《《298; Apparently, we should also not expect anything from the CVRs because "Jim Mellon." But he's on the receiving end of this deal, with a large shareholding that would benefit from the CVRs 》》299;
Given that he's going to be on the board, I'm sure they can find another way to compensate him for the lack of money from his CVRs...... |
"If they can make the problems go away quickly it may be hard to avoid a gold pour within five years, but that's a big if"
A couple of ifs you omitted to mention. |
"zangdook is doubting that MTL will get to production in 5 years"
what I said: "it may be hard to avoid a gold pour within five years"
reading comprehension... |
Right, so dexdringle is ignoring that half the CVRs are paid if any gold at all is produced within 5 years. While zangdook is doubting that MTL will get to production in 5 years. And regarding the other half of the CVRs, the resource CVRs, they suspect MTL will either not find any more ounces or (I'm guessing) be dishonest about reporting them.
Those takes are surprising to me, as MTL are clearly hoping to get to cashflow as soon as possible, bearing in mind their current mine will be depleted in a couple of years. And I believe they have said they will begin exploration in short order (but maybe that's a lie) and noone spends money on exploration if they don't expect to find anything.
Apparently, we should also not expect anything from the CVRs because "Jim Mellon." But he's on the receiving end of this deal, with a large shareholding that would benefit from the CVRs. By comparison, he's not really benefitting much from his non-executive role at MTL is he?
Weird how people think. Or maybe they're hoping people keep selling? |
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