Condor Gold Share Discussion Threads

[corrientes1] 08/12/2022 14:15

I'm taking up the OO on the basis of 'in for a penny, etc etc'. If in the unlikely event that it comes up trumps, it'll be akin to winning the lottery as far as I'm concerned.

[zangdook] 08/12/2022 11:04

They've sent a message too:

Buying more Condor Gold plc shares – Act by noon on Friday 16 December 2022

The easiest way to take part is on our website. We can’t accept instructions on the HL App.

1.Log in online
2.Select your Stocks & Shares ISA.
3.Click the dark-blue icon to the right of your entitlement and follow the steps.

(Note that's just for HL - other brokers may have earlier deadlines.)

[zangdook] 08/12/2022 10:46

They've got it up now. Just go here and scroll down to Condor Gold

[redprince] 08/12/2022 09:52

I have registered my interest for the OO with both Hargreaves and iii.Anyone wanting to do so with H-L may have to call their dealing desk - i did anyway.

[book5] 08/12/2022 07:59

But to buy it without owning all the land?

I accept in Nicaragua this could also be possible if the government writes very strong letters of support, or offers land to the miners somewhere else that have not been disclosed yet.

What implications this would have (a promise from the government) to get finance?

I hope u are right, and also that there is a good deal for the miners too snd all goes smoothly

If so Any interested company could make an offer anytime now?

For me it is difficult to believe in this theory, unless it is a government company that is buying us? However the government company has been sanctioned, they can’t sell gold to the USA….

Why then are we about to raise 4million? To let some average down? This would be internal trading….

I hope u are right though

[sherwood58] 08/12/2022 07:20

Don't forget, it's going to take 18 months for the construction period. Whilst this is happening, I would expect discussions will be had with the government for a cpo if an agreement hasn't been made.

[book5] 07/12/2022 21:55

sher

we dont fully own la India. If we would owned it, then MC would have already uploaded a video of the president of the Coop making a statement they have sold it. The coop is not small (refer video i posted some weeks back,) , and probably occupies a significant foot print of the main vein

Apparently. very recently. Mr L.M.R has been reminded by the miners that he should not betray them on the sale of their land, and needs to call to all the associates in a meeting before they all together accept any offer that may come.

Though we cant sell la India or- America pits today, we could make a deal tomorrow to get the coop's land if we would not want the last oz of blood from the miners

how the government will play is to be seen, it is not guarantee that the government will issue the miners with a cpo for the coop's land that involves only cash, most probably it includes a land swap, I believed that MC has mentioned this before

the best case scenario is that the "land swap" is very limited and does not prevent a large area from being mined by industrial means. This is a big IF. And IMHO this is why the mestiza was not included in the BFS

[sherwood58] 07/12/2022 21:42

Personally, I think you are over analysing the land issue. There is zero talk on the published FS study on swapping the land for mestiza. Have you seen the potential profit of this project if we use the Sept 2021 PEA numbers. This huge profit will not be impacted by such a small piece of land the coop still own.

[book5] 07/12/2022 21:33

this is my view

we have a good asset we can sell today: la mestiza

The other two good assets (la india and la mestiza) cant not be sold as we dont own the land.

The maths are very simple, give away la mestiza for la india, and pay $1.1 million to the associates of the cooperative. I has given up on the idea of getting village for a new village as the BOD seems not keen to negitate.

This deal: mestiza and $1.1 million for the coop is the worst case scenario, and could be done tomorrow if we had $1.1 million

How much is worth La India? that is our worse case scenario. I hope it is at least $68 million ($100 per good oz in the ground) + the mill, buildings, plant, other concessions say £65 million . This is around 27p per share, or around 58% above current sp

if we manage to keep the majority of the mestiza, then the price would be a bit more, however for me is unlikely.

gla

[book5] 07/12/2022 17:03

It does not matter much what PIs do
Why? The company would sell the additional shares the PIs don’t take to main shareholders (with abundant cash) or third parties. Cnr would do the maths on marginal costs vs benefit and decide at what lower price is still worth to sell new shares to carry on with the strategy of selling at a high price. Similar exercise to decide if you would build a new roof extension in ur house if u want to sell it for a higher price.

Imho the Tragic thing is that this time cnr will be successful buying the land of la India main vein . But this will be too late for many PIs to greatly benefit.

Porkies around the land have catched up with us on the day we could not raise the finance to build the mine. The 106 million probably includes the 4million we are raising now to sort out the so call deeds registration…..

Moderately optimist: cnr looks confident, and locals seem to accept the inevitable. Questions as always are: how much land from la mestiza we will lose, and if we lose the whole lot, why in earth we did not do that negotiation years ago

Once we own all land we could have an offer announced, hopefully before end of February 2023

[marketeer4] 07/12/2022 16:29

If you don't take up your allocation it will not help the company put together a way forward for all of us PI's.

[davidspringbank] 07/12/2022 12:11

Following JM's lead, I have elected to take up my allocation. It looks to me like the chart of gold and silver has changed from a downtrend to an uptrend. If this is confirmed by setting a higher low, then our assets would be much more attractive to any potential bidder. Time will tell. Other gold and silver producers in my portfolio have responded positively and it looks like the bottom is in.

[book5] 07/12/2022 08:32

But buying the shares would entitle him/her to receive the dividend paid to all of us with his/her own money .
He/she would know what would be the minimum share price price (cash paid divided by number of shares) when he/she buys our assets.

Probably market cap / 200miilion shares is how much we can expect to receive

It Is like PIs selling their shares to buy the 1/6 allocation,

But perhaps there are different buyers for different assets?may be

Gla

[888icb] 07/12/2022 08:25

Interested buyers are not buying the shares because they are buying the assets not the company.

[book5] 07/12/2022 08:14

If there was any interested buyer. it would be hoovering all these “cheap” shares

Imho it would be very bad for cnr credibility if this drops to 15p, I hope it recovers back to 19p

All JM needs to do for this the share price to go up is to bring a video of Mr L.M.R saying how happy all the associates are with the sell of the coop’s land. As I said before the time to buy will be when we own all the land. That will not happen till we collect the new money

Alternatively Other good indicator would be if MC buys all his 1/6 allocation with mainly new money

[morrgan] 06/12/2022 22:19

15p!!!
That 35k loss is getting bigger dexdringle.
How is it going at MEN?
😇

[sharenotes] 06/12/2022 16:37

Simple pragmatism – right on the money there, dexringle. I think many will apply for more than their allocated quota; so may sell more than a 1/6 of their holding. Accordingly, the share price may tend toward 15p as we approach the 20th December.

[marketeer4] 06/12/2022 16:34

I agree it looks like the share price is likely to drop to 15p without support to match the cash raise price so those WITHOUT a current holding will be able to buy in at the same price as those WITH a current holding. Humph!!!!

[dexdringle] 06/12/2022 15:58

Am guessing people are selling to create the cash to buy the Open Offer shares to self fund it with no need to commit fresh cash.

In which case this will quickly drive the share price down to 15p....

[book5] 06/12/2022 14:37

It seems like the market takes that valuation as if I would say “i own the moon, as there are billions in gold there , then i am a billionaire in planet earth”

[888icb] 06/12/2022 11:19

From lse:
“ Hannan has CNR's NPV at $418 million.”
The sterling conversion is £343 Million which is more than 10x CNR’s current market cap.
That would suggest an amount equivalent to £1+ is achievable even allowing for all the new shares from the open offer and conversion of warrants and options.
Let’s see what Hannan can achieve.

[redprince] 06/12/2022 07:59

Post 9865 - spor on wrt political risk.It is never to be underestimated as i found to my cost with an oil explorer in Nigeria who was sitting on and beginning to produce from a massively rich resource area only to end up being totally shafted!!!

However i make the point again - we dont have to give anything away - raise the capital to do a jv or toll mining deal if the sale price is not favourable.

Why on earth would condor have spent tens of millions proving up the resource to give it away?
We dont have to sell anything if the price is not right.

On the selling front i refer you to DDD posts on lse - a knowledgeable poster who indirectly led me to this share many years ago from my reading of his analysis of silver on iii.One of the few whose posts are worth reading.

I will be taking up the OO which if successful will bring my average down to 38p and yes i believe i will make money but it may not be for several years yet!

Aimho.Dyor.

[morrgan] 06/12/2022 06:45

Well said Corrientes1,

But I have to say there will be no need in having to wait a few years to see what damage has been done.
Those currently in the many thousands in the red won't disagree with that.

[book5] 05/12/2022 23:20

The miners are getting assertive as we speak, how are we going to react ?
I suppose cnr has already figure it out, I really hope so.