Condor Gold Share Discussion Threads

[v1d] 14/3/2013 11:08

eugene1234, that transaction - same number of shares, price AND time - appeared twice on 1st March. I have no idea why that should happen, unless the guy logging the trades is getting bored! One was recorded as an O trade and the other an LC.

Anyone have any theories?

[warmsun] 14/3/2013 11:05

Have again bought more today...

[eugene1234] 14/3/2013 10:19

600k @ 157.5 from 14.08 yesterday!!

[saturdaygirl] 13/3/2013 21:57

Plus the new Edison report out today .. £5.68 a share ...

[rame4] 13/3/2013 21:52

Yes shouldn't stay below 160p for long.

[ceohunter] 12/3/2013 13:55

The directors of Condor Gold (AIM:CNR), Donner Metals (TSX_V:DON) & EMED Mining (AIM:EMED)will be presenting in London on Thursday 21st March 2013.

Venue: Chesterfield Mayfair Hotel, 35 Charles Street, Mayfair, W1J 5EB (Charles Suite)
The presentations will start at 6:00pm and finish at approx 8:00pm. After the presentations are complete the directors will also be available to take questions during a free canapé and wine reception.

REGISTER HERE:

[ceohunter] 12/3/2013 13:50

The directors of Condor Gold (AIM:CNR), Donner Metals (TSX-V:DON) & EMED Mining (AIM:EMRD)will be presenting in London on Thursday 21st March 2013.

Venue: Chesterfield Mayfair Hotel, 35 Charles Street, Mayfair, W1J 5EB (Charles Suite)
The presentations will start at 6:00pm and finish at approx 8:00pm. After the presentations are complete the directors will also be available to take questions during a free canapé and wine reception.

REGISTER HERE:

[warmsun] 11/3/2013 12:16

There has been continual (small) selling for days now...volume today is only 40k (and we are down almost 3%!).......a forced seller?
Will try to buy more shortly...just watching it carefully at the moment.

[rfv] 11/3/2013 12:07

Yuk - is there a short going on - B2 miffed at the two finger salute?

[rame4] 08/3/2013 22:26

Here is a bit of dialogue I've had with an x-broker friend of mine who I hold in high esteem. It's a rather reassuring view...

"The junior stocks are driving me insane. Any good news is just been used by funds to unload stock. While the move from the bond market into equities, chasing yields, has driven the main markets ever higher this has a knock on effect that people look to move funds out of the speculative end and into the main markets because they are performing better. I have heard that some juniors are having to raise money at a 75% discount just to get it away! I think in the short term it is going to be slow and frustrating, but the main markets will find a level and then investors will be looking for value. So well managed small caps will come back into play."

My own personal concern is how big the FED fed (not a typo) bubble will go before it bursts and drag most stocks whether good or bad down with it. I'm sitting tight with cheeks holding firm. I don't like it though. I'm buying physical gold also - not that anyone gives a toss.

[saturdaygirl] 08/3/2013 21:16

Early days but a break of trend line , I see some of the Small goldies had a lift today .

[vermilion1966] 08/3/2013 10:36

"Or we could drill it out because we think there's four or five million ounces there."

[rame4] 08/3/2013 09:00

All quiet here so might as well post a minesite article published few days back...


Condor Gold Follows A £10 Million Fundraising With The Release Of A Preliminary Economic Assessment For La India

By Alastair Ford

In these troubled markets it's not easy raising money for mining projects, and especially not for projects that aren't yet within shouting distance of development.

Drilling at La India
And yet Mark Child is in the final stages of raising £10 million for Condor Gold, a process he's been able to undertake with a minimum of fuss and at no discernible discount.

How does he do it?

There are two simple answers, and they are not unrelated.

The first is that Condor's gold project at La India in Nicaragua is extremely prospective. "We've got the biggest resource in the country", says Mark. "We're the next big mine."

That's a good selling point, and it means that Condor has been able to draw in an extremely canny and experienced investor base who keep coming back for more.

It's not hard to see why. After several years of painstaking work, La India now boasts a resource of over 2.4 million ounces, of which nearly 800,000 ounces are in the indicated category. What's more, there's every likelihood that that number will go higher in the near future, as drill rigs continue to turn and new areas are opened up.

Among the most recent results from the key La India vein set, released on 4th March, was 6.8 metres at 13.99 grams per tonne, 41.26 metres at 1.41 grams per tonne, and 9.4 metres at 1.76 grams per tonne. In addition, the nearby America vein set returned 4.4 metres at 6.11 grams per tonne, 2.8 metres at 5.67 grams, and 1.6 metres at 8.05 grams.

All of which bodes very well for further expansion.

"This is a massive gold field", says Mark. "We've got the biggest resource in the country. We're the next big miner."

And it seems he's not the only one who thinks so. Major backer Regent Pacific dipped its toe in the water back in October when Condor did its last raise, also at 160p. This time round it came in for a much more chunky £8 million at 160p per share plus a 1-for-3 warrant at 220p.

Of that amount, Condor has already banked £5 million, with the other £3 million due in after certain due diligence has taken place following a site visit.

In addition, Regent agreed to underwrite a further £2 million placement to be offered to existing shareholders in a raise managed by broker Ocean Equities. Ocean then pulled in around £1.75 million, leaving Regent to stump up the remaining £250,000.

So why was Regent so keen to come in? Following the October raise Condor was actually already fully funded for its current 10,000 metre drill programme. So there was no critical need for new money at all.

Instead, says Mark, it was "a very nice validation" of what the company is doing, especially since the new money came in across a period of time when the gold price weakened by US$100 per ounce.

"I had a one-and-a-half hour meeting with Regent chief executive Jamie Gibson", says Mark. "They wanted to put more in, but instead I got them to underwrite that £2 million."

In short, Regent knows that Condor is drilling, and wanted to take a decent position in the company ahead of the next major news, which is likely to come in a strategy update that Mark plans to put out once he knows whether or not the final £3 million is coming in.

The smart money says it will, though, especially now that Condor has put out a pretty robust preliminary economic assessment (PEA) of the potential for development at La India. The study demonstrates the viability of a 13 year mine producing an average of 152,000 ounces in the first eight years at an average life of mine cash operating cost of US$575 per ounce.

Pre-production capital costs were put at US$180.5 million, with payback expected in three years. The net present value after tax rang in at US$325 million, producing an internal rate of return of 33 per cent, assuming US$1,400 gold.

The PEA was produced slightly later than had been expected, but for the best of reasons. "The PEA was delayed last year because of excellent trenching results at America", says Mark.

Which brings us back to those 4th March drill results. The drilling on the La India vein set is straightforwardly designed to take the indicated resource up to 800,000 ounces for an open pit. But at America, the drilling is being undertaken to see if there's a second open pit that can be incorporated into the same development.

If there is, it'll transform the parameters of the project by yet another order of magnitude and begin to propel Condor towards the ranks of the aspiring mid-tiers. "I'm feeling increasingly confident that we're going to be quite sizeable", says Mark.

"There are two ways to go. We could do a bankable feasibility study on the back of our existing 2.4 million ounces. Or we could drill it out because we think there's four or five million ounces there."

As the old saying goes that's not a bad problem to have, and it's quandaries like that which have kept Condor's share price on an even keel over the past four or five months when its peers in the junior gold space are down by an average 30 per cent.

He does though, have Mark of course has his own views. "From my side I'd like to see some cash flow in the company sooner rather than later", he says. With cash costs now set at US$575, margins should be pretty chunky. Now that the PEA is in, a decision appears to be looming, although Mark won't be drawn on the precise timing. But how fast could Condor get La India going?

Pretty fast. "If we give it the green light there would be one more year of studies and we would really fast track the EIA and then we could start to build. There would be an eighteen month to two year build period."

But then he adds a final caveat. "Strategy", he says, "is a very fluid thing."

[rame4] 06/3/2013 16:16

"Condor has a robust cash position and a clear strategy to build on the results from the PEA. In addition to this Condor has a large land package of prospective ground that is expected to host areas of virgin high grade gold veins.

"There is great scope for Condor to significantly increase its total resource base at La India as well as build a large mining inventory of reserve ounces on which to build a more substantial mine plan," he said.

[rame4] 05/3/2013 14:27

Latest corporate presentation

[usmcgs] 05/3/2013 13:34

Regent have £3m to put in by 21st March subject to due diligence. Perhaps, as part of the process, it was easier to give them the PEA and therefore MCs has release the document into the public domain.
The PEA is excellent news and shows that the project is potentially viable. this is an independent study of 270 pages. we should all be delighted!

[steeplejack] 05/3/2013 11:43

Ultimately,with Dattels on board,I'm sure everything will come very right here.Had some Polo Resources sometime back.He's invariably well ahead of the pack.

[usmcgs] 05/3/2013 11:17

from 7and28day on lse:

Over the last couple of days various posters have speculated on whether MC would ditch the PEA and move straight to producing a PFS. It could be that Mark had a similar thought now that he has enough finance to progress the company through the next major developement for the company. By the time we have all the results back from our present drilling program we will be at a point of certainty that could produce a PFS rather than PEA. Having already invested in the original PEA last year why not just put it to the market with the health warnings that none of the recent drilling results are included and thats another box ticked on the way to production.