Condor Gold Share Discussion Threads

[usmcgs] 05/3/2013 08:38

steeplejack
There are no funding fear here

[steeplejack] 05/3/2013 08:30

Funding fears rule the day for all the juniors,outweighing any amount of good newsIf you look at the market in general,stocks in demand are the heavyweight ,strong cash flow players like Reckitts,Unilever and stalwarts like Standard Life with a smattering of oversea earners like GKN.There's limited appetite for anything that might require finance it appears.The market is creating a "Nifty Fifty" like it did near 50 years ago and investors are prepared to pay a premium for the certainty such stocks provide.

[emarszalek] 05/3/2013 08:29

3000 @ 1.57 is my buy

[warmsun] 05/3/2013 08:29

"is something else afoot"

for example..?

[sir andrew ffoulkes] 05/3/2013 07:57

This is excellent news BUT why was it delayed unnecessarily when the later drill results have not been included and why release now, is something else afoot.

[moonshine1] 05/3/2013 07:50

Timed to be delivered during PDAC Conference?

[rame4] 05/3/2013 07:46

Congratulations MC.

[usmcgs] 05/3/2013 07:33

On just 1 open pitand from last September ..... we will have 3 or 4 soon

[molatovkid] 05/3/2013 07:13

A billion dollar business for £59m....

[saturdaygirl] 04/3/2013 18:20

Bullish Gold comments from Clive Maund

[moonshine1] 04/3/2013 16:16

The following article goes to show how amazing it is that CNR can continue to raise funds so easily:

soulsauce 4 Mar'13 - 15:19 - 584 of 587 0 0


FT

March 3, 2013 8:51 pm

Miners face struggle for survival
By Christopher Thompson

Dozens of mining companies will struggle to survive in the coming months as higher production costs, risk-averse investors and falling commodity prices have caused a "credit crunch" for the sector, according to new research.

In a survey of 389 mining companies across the globe 43 per cent had cash balances of less than $2m, a proportion which rose to more than half when counting miners with nothing yet in production, according to Grant Thornton, the accountants.

This comes as the price of metals such as copper, iron ore and zinc slumped last year while costs such as labour and energy inputs continued to rise, leaving many of the world's mining companies cash poor.

Gerry Beaney, head of capital markets at Grant Thornton, said he expected a number of corporate failures over the next six months. "I would characterise it as a credit crunch, particularly for exploration companies and juniors who rely heavily on equity markets to provide funding for their activities," he said.

More than half of junior miners, classified as those companies without producing mines, require funding within the next three months or less just to remain solvent, according to the survey.

"The need for funding is a global issue," said Simon Gray, head of energy and resources at Grant Thornton Australia. "Many exploration companies are really down to the wire and are finding fundraising more challenging now than it has been for many years."

While higher costs and falling revenues have hit mining companies across the board, the industry's most conspicuous casualties have occurred at the big, diversified miners such as Rio Tinto, BHP Billiton and Anglo American.

They have all recently announced a change of their respective chief executives as cost pressures and impairment charges upset investors.

Rising costs remain the industry's primary concern and most miners expect some of the most important costs to continue rising. More than half the companies surveyed said they expected labour costs to increase this year and 42 per cent also expected higher energy costs.

But as miners big and small look to reduce costs, some analysts predict an uptick in mergers and acquisition activity as those companies sitting on cash piles snap up distressed assets.

[888icb] 04/3/2013 11:16

The volume is low with only 31000 traded in the 1st 3 hours. Perhaps there will be some interest from Canada later and following the presentation later in the week.

[usmcgs] 04/3/2013 11:05

strategy update, resource upgrade (possibly 2 this year), pea ...... any of which could get us moving .......... drilling updates not enough it seems

[rame4] 04/3/2013 10:51

Maybe MC should issue some bad news to get the share price to rise!

[serious punter] 04/3/2013 09:44

Looks like the real spread is 157/159

[usmcgs] 04/3/2013 08:25

Proactive investors writeup
Condor Gold's drilling continues to make the grade
8:06 am by John Harrington Significant zones of quartz brecciation were intercepted at the intersection of the America-Escondido-Constancia veins; assay results are pending.
The most recent drilling and trenching activity at Condor Gold's (LON:CNR) La India project in Nicaragua has continued to confirm continuity of gold mineralisation and grade of the current geological model.
The group drilled a further 31 holes, boring through 3,931 metres, meaning the company has now drilled a total of 35 drill holes and 5,359 metres on La India open pit resource area.
The best new drill intercept from La India was 6.80 metres at 13.99 grams per tonne (g/t) gold. Other eye-catching results from La India included: 41.26 metres at 1.41 g/t; 9.85 metres at 1.76 g/t; 2.85 metres at 5.02 g/t; and 3.67 metres at 5.64 g/t.
The best new drill intercepts from the America vein set were: 4.65 metres at 6.11 g/t; 3 metres at 5.67 g/t; 5 metres at 3.11 g/t; 1.7 metres at 8.05 g/t; 7 metres at 1.74 g/t; 3 metres at 3.72 g/t.
The group also highlighted a drill intercept of 41.26 metres at 1.41 g/t gold near the surface at hole LIDC183, which demonstrates the coalescence of the California and La India veins.
"The assay results from the infill drilling programme within the whittle pit shell on La India open pit resource continue to demonstrate continuity of gold mineralization and grade, reaffirming our view that the current drilling programme's target of 800,000 oz gold resource in the Indicated category should be achievable," said Mark Child, chairman and chief executive officer of Condor Gold.
"The interconnecting America-Constancia-Escondido veins have a resource of 288,000 oz at 6.0 g/t gold including 120,000 oz at 7.8 g/t gold in the indicated category. The latter is largely estimated from historic underground channel sampling, which was restricted to the high grade core of the veins that were historically targeted for mining. The resource estimation excludes gold mineralisation in the remnant wall-rock of the old mine workings as this area has not been previously drilled," Child added.
Condor has completed 2,664 metres of a 4,000 metres drilling programme through the historic mine works of the America-Constancia-Escondido veins.
"Several drilling intercepts through the old mine workings, including LIDC179 of 4.65m at 6.11 g/t gold demonstrate significant gold mineralisation remains in the remnant wall-rock," Child asserted.
The group said that are fewer than 2,000 metres to go of its 7,000 metre infill drilling programme within the current La India Whittle open pit shall to finish off the 50 metres grid spacing needed for conversion of current resources from the inferred to the indicated category.
A 1,700 metre geotechnical drilling programme is planned for April and May of this year at La India. The geotechnical drilling will improve knowledge of the footwall and hanging wall rock properties and refine the design of the open pit. If the rocks can support a steeper angle then the strip ratio will be reduced, improving economics and possibly allowing the open pit to be deeper and adding gold resource considered to be underground to the open pit.
A further 2,000 metres of drilling is planned on the America vein set with the aim of testing open pit potential of mining remnant wall-rock material. The programme is being adjusted to focus on the wide zones of quartz brecciation and multiple veining encountered at the intersection of the America, Escondido and Constancia veins in the initial drilling, Condor said.
Over 500 metres out of 1,000 metres of trenching across the Mestiza Vein Set have already been completed. Further trenching and drilling will be planned based on the assay results.
Shares in Condor Gold rose 2p to 158p when the market opened.

[serious punter] 04/3/2013 08:13

warmsun

I reckon people are waiting to see whether the MMs will drop the prices a bit

[warmsun] 04/3/2013 08:10

Strange muted response from the Market...?

L2 is showing 158-165?

[moonshine1] 04/3/2013 07:45

I think we are up-to-date with drilling results now, usmcgs. The drilling report of 11/01/2013 included:
"23 drillholes for 3,462m completed on La India open pit resource area to convert the existing resource from Inferred to Indicated category."

[usmcgs] 04/3/2013 07:37

Only  5,359m out of a 7,000m drilling programme has been completed of which 1,901m of new drill results are included in this announcement.

More therefore due .... maybe being held back for the strategy update .......

[rame4] 04/3/2013 07:33

Very comprehensive and a very confident statement from MC.