Condor Gold Share Discussion Threads

[alex hawk] 10/10/2013 10:42

The only thing brewing is my cup of tea, patience required and let the trend be your friend.

[rfv] 10/10/2013 10:22

Something brewing or is the POG going up?

[alex hawk] 10/10/2013 10:10

Once this smashes past 140p it's blue sky potential to 200p.

[888icb] 10/10/2013 10:08

An impressive rise just before 10 am. Lets see if it continues.

[warmsun] 10/10/2013 09:57

hmmmm...just ticked up again....here's hoping!

[warmsun] 10/10/2013 09:56

We have a few buys trickling through...and the 2 x 3k trades showing as sells were actually buys too....

News soon...?

[saturdaygirl] 08/10/2013 21:32

Alex

The charts look great , slow stoch and MACD and the keltnerbands being hidden on pillons chart on the other thread all look good . News for the next 6 weeks should see us the right side of £2.00 .

Pillon chart




Day in the life of a CNR holder !

[alex hawk] 08/10/2013 21:26

Thanks for posting.

Also to add MACD is crossing and entering positive territory making it a very bullish chart.

With impending news this offers a perfect combination of fundamentals and technicals.

Good luck all.

[saturdaygirl] 08/10/2013 21:22

Thanks Alex


Uploaded with

Arguably CNR is the best of this bullish bunch!

The start of CNR's recovery began with a bullish divergence in the RSI oscillator in the second half of April. Since then, we have seen an extended 6 month uptrend for this indicator with another successful rebound off the spring trend line last week.

As for the price action, there is a clear rising trend channel, whose floor runs through £1.21 and the 50MA. But this is not all.

The end of last month and the beginning of this month delivered a bear trap below former September support at £1.20 and the 200MA at £1.25. The chances are that as long as there is no close back below the 200MA, we should expect a sharp acceleration to the upside and a minimum retest of August resistance at £1.50. The best case scenario is that we could see CNR hitting the top of the July channel at £1.65 by the end of November.

[saturdaygirl] 08/10/2013 21:18

Change the xx to tt for the link .

[alex hawk] 08/10/2013 21:14

Alex Hawk
8 Oct'13 - 21:04 - 559 of 559 0 0 edit

Picked up these at sub 120p following shares mag article and alongside the t20 crowd last Friday.

Looks well setup now.

Even on Mr Zak Mirs radar now.

hxxp://www.-.com/blog/zak-mir-on-golden-nuggets-pog-avm-cnr.html/

[saturdaygirl] 08/10/2013 21:10

Sorry, the website www.-.com cannot be found.

[alex hawk] 08/10/2013 21:04

Picked up these at sub 120p following shares mag article and alongside the t20 crowd last Friday. Looks well setup now.Even on Mr Zak Mirs radar now. http://www.spreadbetmagazine.com/blog/zak-mir-on-golden-nuggets-pog-avm-cnr.html/

[saturdaygirl] 08/10/2013 19:54

Uploaded with

[buddyol2] 08/10/2013 18:36

Paragraph 13 interesting

[plasybryn] 08/10/2013 16:35

Have I got the story right? Hope someone can fill the gaps.

We were waiting for the PEA back end of last year. That got delayed because we thought they wanted to prove up the 2nd Open Pit and include that in the PEA.

Originally we were doing a 10,000 metre drill programme, but that is now 20000/25000 metres.

Regent bought into the £7m Placing in March at £1.60 and then lo & behold, the PEA followed very shortly.

As it turned out the share price has gone south since, even though we are, as I understand it, weeks away from the PFS. Well due Q4 - 2013.

Is the PFS considerably more value enhancing than a PEA?

Presumably the NPV of £5.50 that I have seen quoted is pre what the PFS might reveal.

We are fully funded into the PFS, but not sure what happens after that.

Longer term, is the plan still to go to 3m-5m ozs, then complete a BFS ahead of a sale?

[sir andrew ffoulkes] 07/10/2013 14:10

One would imagine by now that CNR have received interest from a handful of potential suitors but perhaps shrewdly they are probably wanting to get all their 'ducks in a row' before allowing anything to become more formal. It's a little early for us yet to realise fuller value in any sale type scenario - patience is the order of the day here.

[au24] 07/10/2013 10:58

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'.

[psolomons] 07/10/2013 10:46

Another excellent Jibbo post on lse.

1. There are only 37.87 million shares in issue. The M'Cap is just £50 million and is significantly discounted to the current NPV of £5.50p per share (Edison recently valued CNR at £6.14p per share). Mark Child owns more than 9% 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 have bought 10% of the company after conducting significant due diligence. That is a significant vote of confidence.

2. CNR has 2.4 million oz of high grade gold (4.6g/t) in one location (760k oz of Indicated) and is one of very few resources of that size and grade in the world. The La India District has been increased in size by 44% to an impressive 280km2 of highly prospective land (as shown by the recent geophysics results).

3. CNR has completed a 23,800m drill programme this year and at least 2.7 million oz (with 1.5 million of Indicated) is achievable this year. 1700m of geotechnical drilling has been completed on the India open pit and that will hopefully improve the angles of the pit walls from 40/42 to nearer 50/50 degrees to make them steeper, thus increasing the contained gold by between 25% to 50% and improving the already excellent economics of the project further. The results are due in the next few weeks.

4. Metallurgical tests have now indicated an excellent recovery rate of 94.5%. That compares very favourably with other low cost producers such as MML 89% and AR. 90%. A 540 page report is due in two to four weeks time.

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. The PEA suggested some very robust economics for the project. Based on the current resource a 152,000 oz pa mine with a life of 13 years is already possible (the largest in Nicaragua), with a POST tax NPV of £5.50 per share. High IRR of 33% and an estimated pre-production capital cost of US$180.5m for mine construction and processing construction, with a 3 year pay back period. By the end of this year those figures should be significantly enlarged and improved upon after the completion of a minimum of 23,800m of drilling (but hopefully more if Mestiza is also drilled this year). The aim will be to significantly increase the amount of open-pit ounces so that the PFS can 'front load' the cheaper open pit ounces in the early years of the mine life to pay for underground development later in the cycle.

[psolomons] 07/10/2013 10:19

From jibbo on lse board.

Extorre had a PFS for 1.35 million ounces of indicated gold equivalent resources and 1.05 million ounces of inferred resources and it was bought for $170 per oz. We should soon have (all being well) as much as 1.5 million oz of Indicated and more than 1 million of Inferred. They were operating in the less politically stable Argentina so our resource should be more valuable. If we were to be sold for $170 per oz with 40 million shares in issue and 2.7 million oz that would be £7.60 per share. From memory gold was around the $1600 at the time of the Extorre deal so we should expect less. At $120 per oz we would get £5.40 per share. I think that £4 to £5 is achievable but we could do better if gold were to rally strongly in the next few months.

[888icb] 07/10/2013 10:11

A very positive start to the week following the talk of a bid in the Shares Magazine and also the fact that a number of news items are imminent.