Condor Gold Share Discussion Threads

[2020hindsight] 28/2/2013 22:38

It's yet another new incarnation of someone spamming this directorstalk stuff across multiple thread. Another one filtered.

[yangou] 28/2/2013 21:14

Should we really believe what the Sachs have to say?? I wonder.

[rame4] 28/2/2013 17:14

I prefer to use the term Excellent rather than Ordinary.

[usmcgs] 28/2/2013 17:11

RNS - We have 37,873,960 Ordinary Shares

[warmsun] 28/2/2013 12:52

eugene, I would imagine the 35k you mention is a trade which has been rolled as there are two 35k trades at 10:06....mind you, we are up! :)

[eugene1234] 28/2/2013 10:13

some good trades going quietly through 35k this am, 60k after hours yesterday and some the previous days.

[backwoodsman] 27/2/2013 17:41

Not yet certain but AIM stocks will hoepfully be be ISAable from 6 April.

[usmcgs] 27/2/2013 17:06

Edison Insight

INVESTMENT SUMMARY
Condor has raised £7m in equity placements, with a further £3m planned by 21 March to fund
feasibility and exploration drill programmes. This could enable the company to further expand
resource definition programmes at its La India project, which has now been increased by 63%
to 280sq km through acquisition of the La Mojarra and HEMCO concessions. As a result, the
declared 3.0Moz resource target could thus be increased. The current 7,000m infill drill
programme on the La India open pit project aims to raise the indicated gold resource from
0.53Moz to over 0.80Moz and this could be extended to the north. The current 4,000m infill
drill programme on the America Vein Set aims to prove a second open pit.
INDUSTRY OUTLOOK
The epithermal La India vein system could host an important new gold reserve, amenable to
both open pit and selective underground mining. This is supported by good infrastructure and
government recognition of the economic project worth under a workable legal, taxation and
royalty structure.

[usmcgs] 27/2/2013 15:36

No not available for isa

[b2l] 27/2/2013 15:08

CNR is listed in Frankfurt, also in Berlin and Stuttgart

[molatovkid] 27/2/2013 12:55

if it is dual listed....might that open it up for an ISA?

[saturdaygirl] 26/2/2013 20:12

Two good overviews from Jibbo on LSE for anyone who has not seen them .


Jibbo
Posts: 10,634
Research



Opinion:

Strong Buy



Price:

161.50


Reasons to invest in CNR (revised)

Sun 09:48

1. There are only 37 million shares in issue and the M'Cap is just £60 million, so despite the current 161.5p share price the company is still significantly discounted. With so few shares in issue the share price is likely to move quickly on the back of good news. Mark Child owns more than 10% of the company so has plenty of 'skin in the game' and Regent Pacific, an investment vehicle for renowned entrepreneurs Jim Mellon and Stephen Dattels has just bought up to 20% of the company and plans to inject more than £14 million into CNR. That is a significant vote of confidence.

2. CNR has 2.4 million oz of high grade gold (over 4g/t) in one location (760k oz of Indicated). All of the vein sets are within 1.5km of a proposed central mill. The La India District has just been increased in size by 44% to an impressive 280km2 of highly prospective land.

3. CNR currently has a 14,000m drill programme ongoing, but following Regent Pacific's investment CNR now has the funds to do considerably more (at least 30,000m) and 4 million oz (with 2 million of Indicated) could be achieved this year if the scope of the drilling programme is enlarged. About 7,200m has already been completed and the results should now start coming through on a regular basis. There is also 1,600m of geotechnical drilling to be done on the India open pit. That will hopefully improve the angles of the pit walls to make them steeper, thus improving strip ratios and allowing for a deeper pit that will include more ounces and the higher grade ounces at depth. If successful this drilling will improve the already excellent economics of the project further.

4. The high grade of gold, which will be extractable mainly by open pit (95% recovery rate). SRK's initial estimate is that the open pit mining will cost roughly $289/oz.

5. CNR already has the biggest resource in mining friendly Nicaragua, despite the presence of B2Gold, which is well established in the country and is also highly profitable. CNR's La India district holds at least 5 million ounces, but probably a lot more and the broker Ocean Equities has suggested that although CNR already has a 2.4 million oz resource, the company has just been' chiselling at the tip of the (gold) iceberg at La India'.

6. A PEA is currently underway and once it is published CNR will be a genuine take-over target for one of the big producers who will not ignore the size of the project and the outstanding economics at a time when they are finding it harder and harder to replenish their reserves - particularly with high grade open pit ounces.


Jibbo
Posts: 10,634
Research



Opinion:

Strong Buy



Price:

161.50


Why Regent Pacific invested:

Sun 09:31

Condor is currently conducting a 7,000m infill drilling programme within the whittle pit shell of the open pit with the objective of converting Inferred resources to the Indicated Category with a target of 800,000 oz gold in the Indicated Category. Condor is also currently conducting a 4,000m drilling programme through the historic mine workings on the America Vein Set, which has a CIM standard mineral resource of 403,000 oz gold at 6.0g/t with the objective of defining a second open pit resource on La India Project.

The Company understands that a preliminary economic assessment is currently underway. In addition to the La India Resource, 87k oz gold on Condor's Rio Luna Resource takes Condor's total resource to 2.5m oz gold in Nicaragua to CIM standards. Condor also has a JORC Code Resource of 1,004,000 oz gold equivalent in El Salvador, but
unfortunately there is a moratorium on all mining in that country currently. Condor's management team has extensive experience in mineral exploration, project development and project financing, that the Company believes will facilitate Condor to achieve exploration success and take the La India Project through to a bankable feasibility study.Reasons for the subscription of new Condor Shares The Subscription will provide the Company with a meaningful and strategic stake in Condor and allow Condor to progress and expedite its exploration programme and to further advance its
preliminary economic assessment of the La India Project on an enlarged asset base. In addition, the scale and favourable location of the La India and surrounding projects present an attractive investment opportunity in a well understood regulatory environment and, through its investment, the Company hopes to assist Condor to create a substantial platform from which to consolidate and grow in due course. The Company considers its strategic investment in Condor as a long term value play that supports the Company's long term outlook on precious metal commodity prices. In short, the Board considers the Subscription into Condor to be good value with the potential for significant growth.



It is interesting that Mellon and Dattels obviously believe that the future for the price of gold is positive and it is worth noting the following line 'The Company understands that a preliminary economic assessment is currently underway.'

[liberatingsteptoe] 26/2/2013 09:27

The Regent Pacific document states that Condor is also listed on the Frankfurt Stock Exchange. First I'd heard of it.....
LS

[888icb] 25/2/2013 23:20

Polo has an interest in Condor of less than 3% according to the small print in the Regent Pacific disclosure document about the CNR investment required by Hong Kong regulations. There is a link to the document on the POL BB.

[serious punter] 25/2/2013 14:56

Looks like a buy from last week 85k @ 162??

[mlangton1] 23/2/2013 18:13

And also in the daily mail

[mlangton1] 23/2/2013 12:45

Fundraising mentioned in deal of the day in The Times

[scientologyweirdo] 23/2/2013 00:24

The 'game' is afoot. Mellon and Dattels know how to 'shop' assets and this I reckon is the end game as CNR is prepared for a sell off to the highest bidder.

[scientologyweirdo] 23/2/2013 00:22

Condor Gold glittered at 161.5p, up 3p, following a £10m share placing at 160p a pop, backed by Regent Pacific, a vehicle for entrepreneurs Jim Mellon and Stephen Dattels. Condor has already discovered 2m ounces of gold in Nicaragua.

Read more:

[warmsun] 21/2/2013 09:38

Serious P

It would be at a cost of £2650...yes?

On a value of almost £430k (265k x £1.62) then thats a pretty small cost....you would get that back if the share price moved a penny or so!

[serious punter] 21/2/2013 09:31

warmsun

£5,300 for a rollover seems a bit rich

[warmsun] 21/2/2013 09:14

Looks like a rolled trade usm....
One was at 1.61 and the other at 1.62.
Big trade though!