Condor Gold Share Discussion Threads

[usmcgs] 12/9/2014 13:24

Lots of selling now. Unable to sell in bulk. Are we going to be dragged back to the 90p placing price?

[usmcgs] 12/9/2014 10:48

From V1d on lse:

it looks to me that MC is working on a 10 year LOM (at least) - the main pit producing at 80k oz pa from a Reserve likely to be in the order of 800k oz or so, and the feeder pits coming up with 20k oz pa from additional resources following drilling of 300k Indicated converting to a minimun of 200k oz Reserves.

The actuality in production is, I guess, likely to be more than that because of the strictness of the NI 43-101 in the conversion of resources to reserves such that the mine will produce gold from the Indicated and inferred ounces which could not be included in any pre-production feasibility studies.

Not that I think that Condor will be the producer - I still reckon that there will be an acceptable take-out bid before we get that far.

The share price was running upon the back of anticipated good news flow, in anticipation of a favourable PFS to be released at the end of September and also, no doubt, some anticipation of a pre or immediately post PFS takeover bid. We have known for some while that potential suitors have been requesting information - access to MC's "data room" - and poking about on-site.

Nothing has changed, IMHO, except that we now are funded through to the completion of a BFS - if that should be necessary - and actually have a bank (IFC) coming on board doing its Due Diligence.

[usmcgs] 12/9/2014 10:46

37k within an hour was good but yes quiet for now

Yes, I thought that the share price may have gone down to below the placing level but volume has been great and the share price looks likely to rise imo. I have now topped up by more than £80k at these levels :)

[warmsun] 12/9/2014 10:41

Nice to see you all positive again usmcgs, after buying back in :)

Volume is only 37k.....so far...no trades for over an hour and a half though

[usmcgs] 12/9/2014 09:05

b2L - yet .....

Good volume again.

[usmcgs] 12/9/2014 09:04

psolomons - I'd ignore he. She comes under the word poison and a few other choice words

[b2l] 12/9/2014 09:02

and no movement ;)

[usmcgs] 12/9/2014 08:58

32668 buys 135 sells

[b2l] 12/9/2014 08:20

absolutely agreed @psolomons

[saturdaygirl] 11/9/2014 21:40

goneawol



I am no techi but this link may work

[saturdaygirl] 11/9/2014 21:37

And the poster you copied vehemently dismissed any diluton yesterday ,,how they change with the wind , Best take his posts with a pinch of salt in future

"fine words butter no parsnips"

[goneawol] 11/9/2014 21:26

Presentation..

hxxp://www.gowebcasting.com/events/precious-metals-summit-conferences-llc/2014/09/11/condor-gold-plc/play/stream/12392

[saturdaygirl] 11/9/2014 21:25

psolomans

Dream on , to make a placing may give 200 people access to the information and MC being a

From the Condor web site

"Mr. Child has 25 years of equity capital markets experience, as an institutional stockbroker and in corporate finance/private equity, mainly in emerging markets. He has worked for W.I. Carr Indosuez, Hoare Govett, Prudential Bache Securities and was the managing director of Sun Hung Kai Securities (UK) Ltd. At board level Mr. Child has been an executive director of Hong Kong listed Regent Pacific Group, an emerging market fund manager and private equity group, which spun off Charlemagne Capital Limited and AIM listed betinternet.com plc. In addition he has been a Non Executive director of several private companies. He joined the Board of Condor Resources on the 24th May, 2006."


With this much experience how could he be shocked ?

[psolomons] 11/9/2014 19:57

The FSA need to try and find out where the leak came from. There are a few lead suspects. Just think who would benefit from a lower price as a placing was being negotiated. Who would benefit from being able to sell, or short, knowing the price was guaranteed to fall. No specific allegations intended but the whole thing stinks.
It makes me feel a mug to trade AIM shares but a more robust regulator would stamp out some of the worst examples of insider trading.

[psolomons] 11/9/2014 19:33

This from the CNR board on LSE after MC gave a presentation this evening.
It appears the leak cost the company money too !

"Mark visibly very unhappy @ the leaked fund raise in the last week, when we were @£1.12 but after 3 days & -15% we had 2 mill in bag @ £1 , but had to 're negotiate @ 90 p , very annoying to say least"

[jeanesy2] 11/9/2014 19:29

The 'leaked' fund raise has cost us all alot of money. Simply not good enough! What will be done about it ....nothing i expect. Not a happy bunny, and by all accounts im not the only one!

[v1d] 11/9/2014 16:30

Looks like Proactive haven't read the RNS - each Unit is one share plus ONE HALF of a warrant to subscribe at 144p a share. Our Jim has 172,222 shares and 86,111 warrants.

Anyway, lazy journos aside, and as you say, let's hope that it's now onwards and upwards...

[usmcgs] 11/9/2014 16:20

Proactive Investor's writeup

Nicaraguan gold explorer Condor Gold (LON:CNR) has received a £3.5mln cash injection from the IFC, the investment arm of the World Bank.
It is a part of a total £6.4mln fund raise that will enable Condor to complete a pre-feasibility study on its flagship La India project and take it some way down the road of a bankable study.
The remaining £2.9mln of the funds will come from a placing at 90p. Non-executive director Jim Mellon has subscribed for 172,000 of the units, shares plus a warrant, being sold.
Condor, which said its cash balance had fallen to just £90,000 at the end of August, is currently finalising the PFS for an open pit operation at La India.
“Whilst the PFS is not finalised and is subject to revision, the directors of the company are targeting it to show La India Open Pit having a lower quartile All In Sustaining Cash Cost and a Low Capital Intensity relative to peer development projects,” Condor said.
Condor repeated it will move straight to a Bankable Feasibility Study (BFS) following completion of the PFS.
Shares rose 0.5p to 93.5p.

[usmcgs] 11/9/2014 15:47

Hopefully the incredible volume we have been having is a sign of things to come

[usmcgs] 11/9/2014 15:02

Thanks for your thoughts

Amazing what we can achieve :)

Family is the most important thing. Fingers crossed you can reach your goal soon mate

[v1d] 11/9/2014 14:44

I doubt that will have large surplus,as the other studies necessary for the BFS will cost a few £M.

However, there might just be some extra to enable Peter Flindell and Luc English to drill up some of the "Blue Sky" potential, especially on La Mojarra where the southernmost drill intercept on India/California (LIDC152) returned 16.1m at 10.24 g/t from 193.8 metres. In that particular location it is my understanding that the land slopes down to the south into La Mojarra, so it might just be possible to get at some of this high grade material using bulk underground methods - ie using declines rather than dropping shafts. Anyway, we shall see, as there are lots of targets to go at.

I'm still in good old Blighty, going through the necessary due process. Just had a quick trip down under in March to see little one No 3, so had to suffer a UK winter for the first time for a few years, I'm glad it was comparatively mild, so a quick squirt of WD40 on my metal bits and all was well.

[usmcgs] 11/9/2014 13:56

It seems that we will have a lot more money than we will need then. Other than running costs I wonder what MC may have planned

Moved home so will need to fund a couple of large extensions, as look ng to more than double the size of the property.

Have you emigrated yet?

[usmcgs] 11/9/2014 13:41

bfs not hfs

[v1d] 11/9/2014 13:41

Hi usmcgs -all is well with me, how are you these days?

The funding £3.2M + £3.5M will last them into 1Q2015 so the RNS says. They will be doing the work for the BFS alongside IFC, who could well be the fund providers for building the mine, so the BFS process will probably take 6 months or so. That's less than usual, but achievable, because everyone will know what needs doing - exactly.

MC has said that they will set up a drilling programme of 8k to 10k to get 300k of "easy" inferred or unclassified ounces up to Indicated, with, I presume, the hope that the usual 80% (240k oz) makes it all the way through to Probable Reserves in the BFS. That makes the project up to +/- 1M oz Probable Open Pit Reserves and a production rate of more than 100k oz pa.

The full cost of drilling is +/- $300/metre all in, so that's £1.85m and now fully funded. They will be drilling several target simultaneously (feeder pits) so the daily drilling rate overall will be quick.

That's a totally de-risked project at more than 100k oz pa with a bank (IFC) already on board. That would fetch top dollar even in today's dire market, and any improvement in the general market conditions for gold will increase that markedly.

I guess that someone will step in with a "proper" bid before that BFS is completed.

Onward and upward and good luck all.