Yes. The BFS is what it is. Without doing more drilling I'm not sure how they've come up with such different figures.
It's all very odd. Even more so because you'd expect the MTL share price to have rocketed when it was realised they'd bought £1 coins for 30p each. Unless such a resource increase was already factored in....... |
How should they know now, a few weeks after the deal, that the BFS was hugely underestimating? Makes no sense. |
Come on Dex. Surely you've been following the company over it's years? The BFS was done in the view to have a lower capex to be able to get financing given the size that condor were.
Unfortunately the US sanctions came along and scuppered that, hence the change in direction.
Are you holding onto your MTL shares or selling up? |
So, after 10 minutes of being involved, Metals have already established that the 2022 BFS has hugely underestimated the gold in the ground by a factor of at least 3 🙄 |
Remind me exactly what you said OG? I vaguely remember you saying it was worth about 9p in total. Totally wrong there. |
And again, as announced:
I told you so |
Deal done. 99% of CNR in favour.
For me I see little point contributing here anymore, I'm off permanently to the MTL boards.
Good luck everyone! |
He could go and help Harry at Kefi… or perhaps he’ll give Dan Betts a ring to shoot the breeze
:D
The number of places for these individuals to inhabit for year after year is reducing fast as the funds dry up.
Unfortunately they usually take the shareholders money with them. |
Just wondering if all these 8.3 notifications are for arbitrage merchants trying to skim a few points. |
Just avoid AIM. Charlatans, pumpers and pound shop idiot savants |
I actually believe that when they said earlier in the year that they were in advanced talks - we were probably close to a deal that was somewhat bettwer than the miserable one that we have found ourselves in now.
From Calibre's carefully worded statement it appears that bad blood almost certainly fuelled by ego is the root cause.
Facts are facts and after two years of bluff and bluster (and $8 million) the biscuit boy and the melon came up with a dodgy backroom deal with the ex banker.
This co epitomises Aim and all that is wrong with it.
It has taken me far too long to learn that the only way to make money consistently on Aim is by trading.More often than not Aim companies are little more than director lifestyle companies. |
If I had a Mellon melon that had only fallen from 9.6p to 4p I would consider myself lucky and dump it quick. |
888 did you steal some cookies from your teenage son, or did you smoke something?
What a great laugh, thanks for that and Merry Christmas |
The Mail on Sunday
Pattern emerging - this may create an argument as to the Dogs identity :)
DOG OF THE YEAR
THIS award goes to Agronomics, whose shares have slumped from 9.6p to 4p over the past 12 months.
The firm invests in businesses that are trying to produce food from cell cultures and micro-organisms, and it has suffered from growing disillusionment with fake meat and similar delicacies.
However, Agronomics focuses on an area known as precision fermentation, creating egg, milk and oil-type proteins in laboratories. Some products are already in use, including ‘cheese’ in German supermarkets, protein smoothies and even macaroons.
MIDAS VERDICT: Billionaire investor Jim Mellon chairs Agronomics and recently bought a million shares, taking his holding to almost 16 per cent. There are also high hopes for 2025, so some of this year’s losses may be reversed. At 4p, this stock has been a huge disappointment but now is not the time to sell.
Traded on Aim Ticker: ANIC Contact: agronomics.im |
Along with Simms45 you 888ICB reside in fantasy land? It's probably a nicer place than the reality we are all facing. You have lauded JM as some kind of investment guru or messiah? We've all been well and truly rogered. |
 Nicaragua is the cash cow that is paying for Valentine and it would be quickly producing even more cash if it started trucking Condors gold to its mill. You only have to look at the numbers to see a clear business case at the level of the current bid and Frisby argues there is a very strong business case at 75p per 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. :)”
Condor is such an easy highly profitable gold field adjoining Calibres existing mine that it is difficult to imagine they could make a better investment anywhere. |
888,
Surely Calibre ARE working in the best interests of their shareholders by not making a deal at a price they think is too high?
And their main focus is clearly Valentine, not a sateelite deposit in Nicaragua, where there is country risk.
They actually have a good discovery rate on their own projects anyway, so no need to overpay for a project where there may well be land acquisition issues to delay the commencement of mining.
If I were them I would be looking at new deals in Mexico, USA, or Canada, and only once Valentine commences commercial production. |
Bahamas,
Exactly!
He'll be the main winner here IMHO!!! |
Mellon is likely to benefit in ways unobtainable to other mere shareholders.
IMO |
You have just illustrated what a low price is being achieved for Condor Gold. Its daylight robbery and I think it reflects very badly on Mellon that he couldn’t get a much better deal done with Calibre who have always been the obvious buyer. If Calibre don’t act in the best interests of their shareholders and bid for CNR, our only hope is that when Condors gold is part of MTL it is valued in the same way as MTL’s gold is now and we see a major re rate of our new MTL shares. |
Just so I understand this.....
Metals PLC has less than 250,000 ounces in the ground and will exhaust this in under 3 years digging out around £125 million net value and is worth £100 million.
Condor has at least 10 times as much in the ground - but has a market value a third of that of Metals. |
I would suggest that adding another spoke to your well established mine in Nicaragua is no risk at all. |
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