Condor Gold Share Discussion Threads

[888icb] 28/3/2023 12:14

It is worth reading todays RNS to remind yourself what CNR is selling in terms of gold and it’s potential value:
“ The Company's strategy has been to develop the fully permitted La India Project in two stages using the new SAG Mill that has already been purchased. The delivery of a Feasibility Study on La India open pit with an average of 81,524 oz gold per annum for the initial six years for a relatively low total upfront capital cost of US$106 million is a landmark and further de-risks the Project. At US$1,600 oz gold, the La India open pit Mineral Reserve produces total revenues of US$888 million, the total operating costs of mining, process and G&A are US$480 million, leading to an operating profit of US$408 million or a 46% operating margin. After government and other royalties, but before sustaining capital, the operating profit is US$355 million, which in Condor's opinion is ample to repay any project debt on the relatively low upfront capex. At US$2,000 oz gold after paying royalties, but before sustaining capital the operating profit is US$563 million. In reality, two permitted high grade feeder pits will be added during the early years of production thus increasing production ounces of gold. Early production is targeted at 100,000 oz gold p.a.

The plan would be to materially expand production with a stage two expansion by converting existing Mineral Resources into Mineral Reserves and an associated integrated mine plan. On 25 October 2021, the Company announced the results of a Preliminary Economic Assessment and filed on SEDAR a technical report entitled "Condor Gold Technical Report on the La Indian Gold Project, Nicaragua, 2021" detailing average annual production of 150,000 oz of gold over the initial nine years of production from open pit and underground Mineral Resources and provides an indication of a production target. Outside the main La India open pit Mineral Reserve, there are additional open pit Mineral Resources on four deposits (America, Mestiza, Central Breccia and Cacao) which represent an aggregate 206 Kt at 9.9 g/t gold for 66,000 oz in the indicated Mineral Resource category and 2.1Mt at 3.3 g/t gold for 223,000 oz gold in the inferred Mineral Resource category. In addition, there is an aggregate underground Mineral Resource (La India, America, Mestiza, Central Breccia San Lucas, Cristalito-Tatescame, and Cacao) of 979Kt a 6.2 g/t for 194,000 oz gold in the indicated Mineral Resource category and 5.6Mt at 5.0 g/t gold for 898,000 oz gold in the inferred Mineral Resource category.”
The current Market Cap on £40 million is such a massive undervaluation it can’t remain at this level for long as a sale gets closer with every day that passes. The sale process is being run very professionally with no leaks so it is highly likely that we will get an RNS one morning and the share price will open at a much higher level.

[connect5] 28/3/2023 10:29

I sincerely hope your average is nowhere near £0.75p? GLA.

[morrgan] 28/3/2023 08:02

dexdringle,

Got to say I am glad to have read you lost plenty of money here.

Karma!

[book5] 28/3/2023 07:18

Rns out, sell pitch.
Anything new?
What about deeds registration, one of the main reasons fo raising cap?
When will rest of land be bought? Deadline? Cpo? Price?
Too many DNA
Gla

[diggybee] 27/3/2023 23:46

Even if that were the case, and let's face it 888 wakes every day in cloud cuckoo land, minorities are likely to get shafted. Look at the people in charge. There is a well defined pattern. I would never get involved with anything that Jim Mellon does ever again. Neither would I joint the Saint moritz tobogganing club for that matter, if I were a keen tobogganer.

[oldiegoldie] 27/3/2023 22:01

Mark is clearly in a luxurious negotiation position here: „You can have it for 400M with what I consider all the land, but the remaining 0,4% are priceless“.

[888icb] 27/3/2023 21:36

Just to offer an option to the nonsense posting that frequents this bb, here is a post looking at potential value from Dictumdedicto on lse:
“ I'm guessing the "between $100m and $200m' was inspired by the FS:

IRR of 23% and a post tax, post upfront capital cost NPV of US$86.9 million using a discount
rate of 5% and price of US$1,600 oz gold (Mineral Reserve Case).

IRR of 43% and a post tax, post upfront capital cost NPV of US$205.2 million using a discount rate of5% and price of US$2,000 oz gold

If you go back to the 'LA INDIA PROJECT SEPTEMBER 2021 PEA EXPANSION SCENARIO
to 150,000 oz gold p.a.' (deck headline) the numbers change to:

IRR of 54% and a post-tax NPV of US$418 million, after deducting upfront capex, at a discount rate of 5% and gold price of US$1,700/oz.

So, one way or another, the buyers will enter negotiation with a 'safe $100m opening gambit, and CNR will have said f... off, we are thinking $400m. Neither side will get their wish list answer but it will likely end up perhaps around the $250m - $300m zone. If there is real competition for the asset it could go a bit higher, especially if there is confidence in $1900 gold sustaining.

Just my latest thinking on the situation, albeit I'm guessing just like everyone else.”

[zangdook] 27/3/2023 16:23

888 bought a share in the co.
I'm a shareholder now, he said, yo!
I've got skin in the game
Bet you can't say the same
You'll be jealous when I'm schmoozing with Mark Child at the next AGM if there is one.

[connect5] 27/3/2023 15:07

That's a truly confident show of prudence.

[diggybee] 27/3/2023 13:53

He bought all 6,000 shares I think.

[connect5] 27/3/2023 09:26

Did you buy any more this morning based on being prudent? I won't expect a reply as is your usual method of operation.

[diggybee] 27/3/2023 08:08

Could well be. Remember they have all that copper that rio tinto were super interested in. Will need that copper for the electric car company. Or actually no....the flying condor. A car/plane. We should have known this was coming all along.

[oldiegoldie] 27/3/2023 07:17

Redefining a gamble as a „quality company“ is really a good one. How many superlatives are left? Will CNR be the new Tesla or the new Apple? Difficult to say

[zangdook] 27/3/2023 06:48

75p would keep Jimbo's Diabetic Boot Company afloat for another six months!

[888icb] 26/3/2023 13:51

A summary of that interview in Canada:
“ One of my big themes today is that after this big bear market you can buy quality companies — companies with production growth — at a discount," Claude Bejet of Swiss Gold Letter said.

Junior gold stocks have endured a difficult bear market, but Claude Bejet of Swiss Gold Letter sees better times ahead.

Speaking at the Prospectors & Developers Association of Canada (PDAC) convention, he said a turnaround began late last October and was confirmed on November 4, when the VanEck Gold Miners ETF (ARCA:GDX) saw an 11 percent increase.

"The index was not up 3 percent, 4 percent — it was up a huge 11 percent," Bejet said. "My experience in markets ... is bull markets start with a bang, and a bang we had. So I think we're in for a lot of better markets and great profit opportunities."

He prefers to invest in gold exploration companies, but said that large companies are selling at low prices right now.

"One of my big themes today is that after this big bear market you can buy quality companies — companies with production growth — at a discount," Bejet explained. Those include stocks like Ross Beaty's Equinox Gold (TSX:EQX,NYSEAMERICAN:EQX) and Aris Mining (TSX:ARIS,OTCQX:TPRFF), whose board of directors includes Frank Giustra.

Bejet also suggested looking at possible takeover targets, mentioning Condor Gold (TSX:COG,LSE:CNR,OTC Pink:CNDGF) and Treasury Metals (TSX:TML,OTCQX:TSRMF) as companies that will potentially be snapped up.

On the silver side, he pointed to Keith Neumeyer's First Majestic Silver (TSX:FR,NYSE:AG), as well as Guanajuato Silver (TSXV:GSVR,OTCQX:GSVRF) and Avino Silver & Gold Mines (TSX:ASM,NYSEAMERICAN:ASM). Bejet also mentioned Aurion Resources (TSXV:AU,OTCQX:AIRRF) as a more speculative precious metals play to consider.”

[dexdringle] 26/3/2023 12:33

Well, 75p would work for me. That'd be my money back plus a little bit (not enough mind) for pain and suffering !!

[connect5] 26/3/2023 12:24

When you've been down on your so called investment for nigh on the 12 years, £0.75p sounds like manna from heaven.

[oldiegoldie] 26/3/2023 10:16

888 you do not need to go beyond share price Angel valuation in your ramping attempts. Please don’t over-deliver on your consulting contract to a level where even the hardest believers will start raising questions 😂

[connect5] 26/3/2023 09:25

How many shares do you own? What's your average SP? Did you buy any on the recent offer and how many? TIA.

[diggybee] 26/3/2023 04:32

Why shd we expect them to deliver. Jim sells snake oil and mark is incompetent.

[888icb] 26/3/2023 02:31

I had no idea you could be so easily enthused. This is worth a £ sign and we should expect Jim and Mark to deliver as we all know Condor will deliver more than £1 billion worth of gold in its lifetime. I think the French guy knows what he’s talking about when he mentions 10 baggers are possible. Don’t forget Jim wants to sell quick so perhaps a top up on Monday might be prudent.

[connect5] 25/3/2023 23:07

That would be an amazing outcome akin to a lottery win. GLA.

[dexdringle] 25/3/2023 22:00

Nothing this side of a 75p per share cash bid for the whole business will increase my enthusiasm for Condor....

[888icb] 25/3/2023 19:12

CNR very definitely on the radar.
The guy from the Swiss Gold Letter is very positive about gold and particularly Junior Explorers. He picked Condor out as being incredibly cheap at its current market cap. It will be taken out he says because “the largest shareholder wants to sell and he wants to sell quick”
So if he is right we should get a very good price. He is talking upto 10 baggers in the junior space because they are currently at rock bottom when a bull market in gold has just kicked off.
I recommend you listen and will be surprised if it doesn’t increase your enthusiasm for Condor.