Condor Gold Share Discussion Threads

[zangdook] 01/12/2022 00:33

Good point. Years ago I lost money in Mellon's Hong Kong-listed vehicle Regent Pacific (it changed its name now) run by another friend of his who never achieved very much but paid himself a salary of around 10% of market cap each year and kept issuing billions of new shares...why did I not consider the Mellon connection as a problem before coming in here?

[diggybee] 01/12/2022 00:15

Fool me once, shame on you. Fool me twice, shame on me?!

[book5] 01/12/2022 00:03

888ICB30 Nov '22 - 15:03 - 9682 of 9686

I do not agree with your, why? because the rns states that if the existing shareholders do not take the offer of 1/6 new shares, then CNR will sell the new shares to another any other party that wants them. therefore cnr needs the money, period.

rns states that other offers to finance cnr were more expensive for the company that what they are offering to us.

reason for the cash rise:
I know, i am positive we need to pay around $1.08million to the associates, plus some land (how may hectares we will need to give it is not clear, in the worse case will be la mestiza, in the best case scenario we keep majority of it). I believe the reason why la mestiza was not added to the BFS is bcs we may need to give it away, i am not sure how this will end up, an concern is the government may want to give the management of the mestiza to its friends.

rns states:
we need to register our properties (this can also be interpreted as we cant register then yet)
we are almost construction ready, but we are not. why? imho, for the same reason i have been saying because we dont own the coop's land

Questions are many, and the fact MC has not been very honest and the share price is going south will put off many shareholders to add new money here, many will sell 1/6 of their holding to buy my new shares at 15 p . So if we go to third parties for funding this will drop hard below 15p

Having said all of this, i am an optimistic cnr will be able to sell la india and American pits, however this is a bit question mark for la mestiza. so we the 150kz annual production talk is best case scenario, if we loose la mestiza then 90koz for 6 years till deep tunnelling mining starts.

I believe $86million will be a good price to achieve, ie around 86million / (250million shares) /1.2 (to pounds) = 29p, with fees say 28p . This will be only 45% gain from here, which is not bad but if someone buys at this level.

the above assumes there will not be more sanctions to Nicaragua

i hope to be wrong

gla

[book5] 30/11/2022 23:22

Lucky if it is sold for $86 million, ie above 29p

[oldiegoldie] 30/11/2022 20:22

If the raised money would be used for the land purchase this could indeed be a game changer. The problem ist that even if sold at 106M the net gain potential is somewhere between 40-50p/share.
But still better than a total loss, so let’s cross fingers

[book5] 30/11/2022 15:17

Once we have the 4million I don’t think we will be far from buying all land, we just need to give land for land and get it done.
Disappointing thing , a part from the horrible strategy that has hammered the sp, it is that we are bloody selling at the worst possible time rather than building it

[888icb] 30/11/2022 15:03

The actual answer is CNR doesn’t need £4.2 million. I imagine the £1 million Convertible Loan from Jim Mellon is more than enough to get CNR sold. The reason for the Open Offer is to allow existing shareholders to top up at the same 15p level as Jim because otherwise it would look very unfair.It’s clearly upto individual shareholders whether or not they wish to take advantage of this offer to reward their loyalty.

[dexdringle] 30/11/2022 15:02

The £4 million is 'gravy train' money.

Gotta keep that gravy train running...

[septblues] 30/11/2022 14:54

No - Any building developer would not have done that - just some

[book5] 30/11/2022 14:28

Why we need 4 million if we are showed ready and fully derisked?
Answer we don’t own all the land, at least not the coop’s one

[vaston] 30/11/2022 11:06

Next multibags

SYME … CLON….MODE

[book5] 30/11/2022 11:00

What he should have said is
I need this money to do such and such, which increases the sale price from x to y

Any building developer would have done that

[book5] 30/11/2022 10:28

It is probable there are Not current buyers till any remaining of land is bought.
Buying land could take time.
4 millions is lot of money to keep going.
The assumption that we will sell for more than 4 million but less than 30 is real too.
From this point of view it would make sense to spend 4 millions to sell it for say 25 rather than for say 5 (if we are missing land on the three pits) and we don’t raise more cash.

This is about marginal costs (4 million), and increase on the price of sale if we raise 4 million

So fact that JM can convert a 15p does not mean he expects to sell above 15, only that he will collect more money when we sale if we raise 4 million now. He could have grated all these warrants To play games with our brains….and lead us to buy

So careful with interpreting the rns bcs we don’t know what offers if any they have. Fact is cnr has not said we have any offer now, or what the conditions of any offer may be for them to buy us. I suspect fully paying for the land would one of the conditions to get better offers.

i wait to know that Mr Ruiz has sold the coop land, I doubt MC will bother to publish a video showing this, as if he does then we will know his previous info about the land was not true

[diggybee] 30/11/2022 09:59

Can Mark speak Spanish after 10+++ years doing business in Nicaragua? Or is he one of those chaps who can order a beer in a bar but otherwise speaks loudly and slowly in English?

[dexdringle] 30/11/2022 09:42

The best con men are very convincing. Otherwise they wouldn't be very good con men.

[oldiegoldie] 30/11/2022 09:39

I spoke with Mark more than 10 years ago on an investment forum and I was totally convinced that he is the right guy. My bad.

[septblues] 30/11/2022 08:54

I also have no knowledge of the people involved other than what I've read.

[corrientes1] 30/11/2022 08:50

If this really is a specific CNR problem, then it means that the major holders are guilty of having allowed MC to run his personal fiefdom for far too long. Even they must have now got impatient, so he is backed into a corner from which there is no escape. A resolution of this impasse must be imminent, for good or for bad (hopefully not) Just an amateur's abstract viewpoint, without any detailed knowledge of the personalities involved.

[zangdook] 30/11/2022 08:29

probably they have a boss who can tie his shoelaces without getting them caught in his fly

[septblues] 30/11/2022 08:16

Calibre seems to be progressing well in Nicargua

hxxps://www.calibremining.com/

the data on the 3 Nicaraguan mines are interesting producing less than each of the Condor concession indicated potential, with similar production costs and selling at gold market price.
hxxps://www.calibremining.com/assets/producing-assets/libertad-mine-mill/
hxxps://www.calibremining.com/assets/producing-assets/limon-mine-mill/
hxxps://www.calibremining.com/assets/producing-assets/pavon-gold-mine/

As previously posted, Calibre sees no current impact due to US Sanctions. hxxps://www.calibremining.com/news/calibre-provides-update-and-confirms-no-material-i-4794/

Market Cap C$380m with C$66m cash on the balance sheet for a company producing 220000 ozs pa

[book5] 30/11/2022 06:27

Zangdook
Agree with all u said
Government support has not gone far enough
More than support cnr needed active government involvement

The support I was referring Occurs a lower lvl within the population:
Many young fellows from the village who work for the major office and cnr speak bad against those locals who oppose to cnr. Probably population is split right in the middle like the uk with brexit
Also the police in 2017 supported cnr by putting under duress to local leaders
So there is some support from the authorities
But in regards the main issues as the land (cpo) or help to relocate the village, it seems that , so far , no practical help has came from the government

In regards the future , this government must be worry of sanctions and that this major project may not be built soon. So this may encourage the government to offer really practical help in the main issues (to cnr or the next company). Apparently MC is/has recently been in Nicaragua, no doubt he visited the ministry of mines.

Apparently last month a villager also complained to the ministry of mines

Difficult times for cnr shareholders that is for sure

[zangdook] 30/11/2022 01:00

"In the positive side I belive cnr when it says that government is supporting cnr."

Now that CNR has declared it wants to get out and doesn't plan to do any mining, why should the government support it any more? Better to get CNR out as cheaply as possible to enable good relations with the buyer (if there ever is one). And if it looks like taking a long time to find a buyer, why not just cancel CNR's permits and give them to someone else? As for our 99% of land, we've been told again and again how easy it is to get a compulsory purchase order if you want to buy some land for less than it's worth.

[dogface3] 29/11/2022 21:49

Great post sums mc up well