Condor Gold Share Discussion Threads

[mellifluous] 03/12/2012 18:03

Broker Round-up part 2, including Condor Gold, Bullabulling Gold, Tangiers Petroleum, Minera IRL

4:25 pm by Jamie Nimmo


Condor Gold (LON:CNR) is still just chiselling at the tip of the iceberg at its wholly-owned La India project in Nicaragua, according to broker Ocean Equities.

It comes after La India showed 954,000 ounces of gold at 3.6 grams per tonne.

Condor has decided to start a 2,000m drill programme to test if a second open pit is possible after good grades from trench samples on the surface along the strike of the old mine workings of the America vein.

And Ocean analyst Chris Welch reckons there is much more to come from the project.

"While the near term plans are promising, we believe Condor are still just chiselling at the tip of the iceberg at La India," said the analyst.

"The prolific nature of gold mineralisation throughout this gold mining district suggests that there will be many more areas of gold mineralisation that will offer open pit mining options that could easily lead to larger scale underground mining."

[warmsun] 03/12/2012 12:21

I would guess that it was from early Friday?

[cyberbub] 03/12/2012 12:04

Weird delayed trade 22k at 195p?

[cyberbub] 02/12/2012 09:08

Psolomons, you are assuming that they eventually get 5m ounces, which is by no means certain. Also you have to apply cashflow discounting, and to allow a takeroverer a margin of profit. But yes it should be a lot more than GBP 60m!NAI

[mellifluous] 01/12/2012 20:21

it will be quite embarrassing for them I guess if it becomes a 'contested' bid as they will have to admit to their shareholders they gave it away to CNR

the only way they can save face is picking it up 'cheaply' but MC is too clever to give it them back at below the 'right price'

whilst the project is still as Inferred/Indicated stage and does not have a credible PEA/PFS attached B2Gold can continue to ignore it

if CNR list on TSX and have a PEA etc and some common shareholders with B2Gold it will be very hard for B2Gold to ignore it and it may become more embarrassing not to take it over for a full price than to have someone else take it or be constantly berated by shareholders for missing out on it twice

[cyberbub] 01/12/2012 19:52

PS that GBP 3-4 per share estimate is based on USD150 for Indicated, and USD50 for Inferred for only the current Nicaragua resource. Given the high grades and open pit potential (ie low production costs) it could go for more... And the potential for BGold to take the company over and use their relatively close El Limon mine for final processing would further reduce costs.. TBH I don't know why they haven't taken over Condor already?

[cyberbub] 01/12/2012 17:02

Anyone got any thoughts on a target price in a year's time? Personally I would have thought GBP 3-4 but I stand to be corrected.NAI

[plasybryn] 01/12/2012 14:06

What a great gift to top up.
The Story is the same but stronger. Long term we are still going for 4m/5m ozs and the PEA is such a step along the road to full shareholder value.
Timescales are really the same, just one of the steps (PEA) will be issued at a later stage.
No problem. It fact great news as I can buy more below the bargin price of £2

[psolomons] 01/12/2012 12:13

I don't think the delay will be that long either. Drilling starts soon, the analysis can follow quite quickly and an economic assessment soon after that. A few weeks is all it will take in my view.
I also think it is worth waiting. The better the PEA the better the share price correction, NORTH !

[panamabob2] 01/12/2012 11:23

I am a little disappointed in the delay.We lose momentum and I don't see what harm would have been done long term.Additional resources could have been added as they became known.

Nevertheless MC hasn't made any serious errors so far so am happy to continue holding.

[cyberbub] 30/11/2012 21:36

Yes support seems to be strong at 180p... Probably jinxed it now! :-)

[saturdaygirl] 30/11/2012 19:26

Resistance line became support today

One of the largest one day backtests ive seen for along time ..

[eelanguilla] 30/11/2012 18:09

suits me - dont want us to be taken over before the start of the next cgt year after my cove gains ....

[mlangton1] 30/11/2012 14:20

Great news and happy to wait as long as it takes to maximise our potential. A 10p drop is only a ha'penny in old money but looks worse. And unbelievable to think we are still cheaper than 18 months ago when we had bags of potential, whereas we now have bags of gold. And sackfuls more to come. GLA

[marketeer4] 30/11/2012 12:44

MC is acting in the best interests of us all by including further gold reserves into a PEA. It's only the day traders who have left on the recent news. For the rest of us long term holders ----The future looks bright- the future looks Gold.

[cyberbub] 30/11/2012 12:30

Very wide spread, hopefully there is a decent buy in the system from someone who recognises that todays rns is actually very good...

[warmsun] 30/11/2012 10:31

To me its more good news, but a simple delay in the PEA...I firmly believe the share price will be higher in the coming weeks.

[1066monkey] 30/11/2012 10:04

Seems fair to wait but that can be taken a little to far. For example, what about waiting for La Majorra?

[molatovkid] 30/11/2012 09:52

This has to be done correctly to maximise value. Therefore if there is more prospects to be factored in to the CNR equation that will enhance the company with more open pit potential I'm happy to wait.

Looking more and more like 2-3 open pits and a centralised mill....with 4-5m oz of the gold stuff. Put a price on that bad boy then!!!

[psolomons] 30/11/2012 09:46

Just think. If a second large open pit development is identified the PEA will be greatly enhanced. Well worth waiting a few weeks for.

[sir andrew ffoulkes] 30/11/2012 09:37

AT least we will get rid of the day traders for a while.

[mellifluous] 30/11/2012 09:35

Yes the PEA will simply be the 'prospectus' to sell out to a Major so the key thing is to get it out with the most and best information

MC is the largest shareholder so will know exactly what he is doing