Condor Gold Share Discussion Threads

[usmcgs] 10/9/2014 16:29

Mr D

They have not been issued yet

[mr dexy] 10/9/2014 16:09

War...

Or sold them all yesterday!


Regards


Mr D

[warmsun] 10/9/2014 16:07

Aha....okay, that may explain a few things! They are happy to accept at £1 (though I am unhappy about recent share price movement) which, I guess, means that they expect their shares to be worth more than £1 in the future?

[888icb] 10/9/2014 16:05

Looks like a good solution to that payment as it avoids using any cash. Another good deal by Mark Child.

[temujiin] 10/9/2014 15:55

Sheds a little light on the share price action. Good that it's for shares and not cash! :) Shares issued at £1

10(th) September 2014

Condor Gold plc
("Condor" or "the Company")
Condor re-negotiates final payment for La Mojarra Concession to an all share payment
Total voting rights
Condor (AIM:CNR), a gold exploration company focused on delineating a large commercial resource on its 100%-owned 2.4M oz gold deposit at La India Project in Nicaragua is pleased to announce that it has renegotiated the final payment of US$450,000 for La Mojarra Concession ("La Mojarra") to an all share payment. The purchase of La Mojarra was for a total consideration of US$1,010,815, see RNS of 11(th) October 2012 for details.

La Mojarra lies along strike to the South of the India-California Vein trend. Gold mineralisation at the southern end of the India-California veins does not reach surface, however significant gold intercepts have been defined at depths from 50m below surface with intercepts such as 21.08m (16.1m true width) at 10.24g/t gold from 193.80m drill depth in drillhole LIDC152 (see RNS dated 29(th) August 2012) located 500m from the La Mojarra boundary. Condor has subsequently conducted a geophysics survey over the entire La India Project, which includes La Mojarra, conducted a limited soil sampling and trench programme on La Mojarra. Condor's geologists interpret the recent exploration results as demonstrating that the main La India vein is open to the south and to depth on La Mojarra and potentially hosts an underground resource.
The final payment is being settled by the issue of 286,134 new ordinary shares at an issue price of GBP1.00 ("the Shares"). Application is being made for the Shares, which will rank pari passu with all existing ordinary shares, to be admitted to trading on AIM ("Admission"). Admission is expected to take place on or around 16(th) September 2014.

The Company will then have 38,610,094 ordinary shares in issue with voting rights and admitted to trading on AIM. This figure may then be used by shareholders in the Company as the denominator for the calculation by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the Financial Conduct Authority's Disclosure and Transparency Rules.

[rhuvaal2] 10/9/2014 12:49

Good post RFV ~ I also have much invested here and am staying firmly put.

[rfv] 10/9/2014 12:40

This board, as the one on LSE is so refined and informed, even on bad days like today. I took a small punt on QPP and the difference in debate, if you can call it that is staggering. Out now as the vile trash was unbearable. We have had times like this before, remember the 50's 70's and not so long ago the 80's. We are close to a massive event in this company's history and even though I am very heavily invested here there is no way the mms are going to shake me out now. Good luck all.

[888icb] 10/9/2014 11:03

We all know that it has always been the intention to sell before production. Clearly to play the game in any negotiations one has to make the right noises about production. This close to a PFS and BFS one would expect to get a placing away at a good price if one was required.
MC is a large shareholder and will not want to damage the value of his own holding.

[temujiin] 10/9/2014 10:04

USMCGS, the issue of 'funding to become a producer' is a long long way down the line and into the future.

[sir andrew ffoulkes] 10/9/2014 09:50

One does not believe a 3% NSR has much relevance to our bottom line. Many miners have to pay similar sums of money to third parties. The question is will we want to fall out with B2Gold (legally), seems unlikely. If we do fall out with them they are highly unlikely to be a suitor or work with us in any way in future.

On the other hand B2 are pretty ruthless guys, could this be an opening gambit for an aggressive takeover play??

[warmsun] 10/9/2014 09:30

Temu,

Genuinely, I do believe this has been manipulated downwards in order to allow someone to get on board on the cheap........we shall see!

[temujiin] 10/9/2014 09:22

USMCGS, it says 'The Company is currently in discussions with B2 Gold in relation to the NSR with a view to resolving this dispute' which sounds like this hasnt got to a legal dispute and may never get to that stage, however nothing wrong with pointing it out but it needs to be kept in perspective.

Regarding any placing, imo fears over this are well over done. CNR could issue a couple of million shares tomorrow at 85p and fund themselves for another 12 months, 2 million shares on top of our 38.5m isn't a big deal at all.

[warmsun] 10/9/2014 09:21

Good luck with your money elsewhere.

[usmcgs] 10/9/2014 09:17

Unknown. Same with the placing and tut's what the market doesn't like.

I remember the last time we expected 'big' news only for this to fall.

Unfortunately I think it is the phase of the cycle we are currently in.

Aim isn't known for patient holders

[warmsun] 10/9/2014 09:12

Ah...okay, my apologies - thank you.

Don't think it's going to break the company though, is it.

[usmcgs] 10/9/2014 09:11

Other Matters
As previously disclosed, most recently in the Company's annual financial report for the year ended 31 December 2013, the Company is currently in dispute in Canada and Nicaragua with B2 Gold over a 3% Net Smelter Royalty ("NSR") on La India concession.

The La India Concession was added to Condor's portfolio in late 2010 through a concession swap with B2Gold, following a letter agreement signed on 31 August 2010 between Condor and B2Gold. The current 68.5 sq km La India Concession was originally part of a much larger, 353.0 sq km El Limon -La India Concession, which in 1994 granted a 3% Net Smelter Royalty ("NSR") to Repadre Capital Corporation. Due to new mining laws, effective in August 2001, much of the El Limon-La India Concession was relinquished to the Government and became available for re-grant.

Condor has received a legal opinion from its lawyers in Nicaragua that the 3% NSR is invalid under Nicaraguan law, and advice from its lawyers in Canada supporting the stance it has taken in the Canadian proceedings. B2Gold provided Condor with a copy of a royalty agreement some 2 years after the concession swap. The Company is currently in discussions with B2 Gold in relation to the NSR with a view to resolving this dispute.

[usmcgs] 10/9/2014 09:10

warmsun ..... check the fns

[usmcgs] 10/9/2014 09:09

Are you suggesting MC will tell me?

[warmsun] 10/9/2014 09:09

Not sure exactly how this drop has been orchestrated but I see this as a form of manipulation to allow someone to get on board on the cheap! Look at the buys we have had...and there have been more large buys this morning.

usmcgs....please don't try to talk this down and....exactly what dispute with B2....you don't know that there is, do you (apologies if you have information to prove this)....

[b2l] 10/9/2014 09:07

why don´t you call MC ?

[usmcgs] 10/9/2014 09:03

How long before the placing and how much is the b2gold dispute going to cost?

I think I'll wait before investing any more here

[usmcgs] 10/9/2014 09:00

Why do the same questions always get asked when anything negative gets asked?

As it happens I luckily sold £40k yesterday as I wasn't 'happy' at the non movement with the volume.

Still doesn't get away from the questions though