Condor Gold Share Discussion Threads

[harebridge] 20/3/2015 08:26

Feel sorry for those that got caught up in this, listening to the likes of JIbbo. The writing was on the wall as soon as Jim Mellon entered the scene.Looks like this will go into administration soon with a quick fire sell of the assets. Mark Child should have put this up for sale ages ago.

[steeplejack] 20/3/2015 07:11

It would be unsurprising if juniors don't try to finesse the road to production to coincide with better times.A poor sister compared to Condor Gold but Patagonia announced yesterday that it was unprepared to press ahead with a project for various reasons but the overriding one was clearly the gold price.That said,the Telegraph this morning is drawing attention to the fact that gold exploration budgets are bottoming out and are on the up.We might just be living through "never so dark as before the dawn".This stock has got to be amongst the most attractive junior gold stocks about on a three year view.I have no doubt that MC will maximise investor returns here even if it takes longer than expected.He's simply invested too much time.But for now,back to those pharmaceutical shares!

[usmcgs] 19/3/2015 21:29

Thanks for that but please can you clarify your comments regarding ye2016. I thought we were talking bfs after a year

[sir andrew ffoulkes] 19/3/2015 20:35

Courtesy of robbie241 on LSE:

Some notes from last night's presentation, there may be errors (please challenge me). It is haphazardly written, but I have other things to get on with tonight.

1. A BFS could be ready by YE at this time we will have $2m cash position, Mark is determined not to do another equity placement until the market is more bullish and SHs will get a good deal. He noted that we don’t need a placement and it would only erode SH value. Remember MC has almost 4million shares he doesn’t want it any more than we do.

2. MC acknowledged that grade and financing are king, this sets us apart from other explorers at the moments. Our high grade also significantly lowers CAPEX making the project even more attractive to bidder. When you compare CNRs performance against other gold juniors, in a falling market we have still fared better than most.

3. Given the recent acquisition of Timmins at ~$60 an oz, and B2 Gold’s offer of Papillion at $125 per oz, MC believes we will be worth far more to a bidder once the project is derisked through land acquisitions, permitting and drilling – this is where most of the $10m will be spent. Condor is currently valued at $10 per oz in Nicaragua, however you look at it, there is some margin there.

4. Soil samples are due in 2 weeks and Mark suggested they might be very good, I hope I sounded ambiguous there. Both sampling and drilling are being conducted in areas of La India to proven to contained high grade chip samples- this area has huge upside potential. The geologists are excited and expect great results, MC stated these results have the potential to be game changing. There is a lot to look forward to this year. With regards to first drilling results, I should have asked- apologies.

5. IFC – to get IFC funding you have to pass muster. Their funds achieveincredible returns and IRR is the number one priority for them. Their chief geologist visited several times before making an approach, of which Condor initially turned down. Having them on board is an enormous vote of confidence. These guys make good investments, they make money, they also make everything take longer due to their rigour, this however, reduces the chance of anything coming back to bite us.

6. Mark also offered that mine development isn’t a speciality. Mark has done wonders building Condor Gold into a world class asset, but he is a PE and corporate financier by trade.

7. Mark mentioned the quality of our work so far meant we could produce a PS and BFS very soon if he wanted, however again given the work we are doing to YE2016, this would be premature.

8. Condor are applying for an EIS next week and expect this to be without problem due to IFC involvement and a pro mining Nicaraguan government. Mark said this was a big step forward towards BFS and production.

9. Mark believes the mining ban in El Salvador will not be lifted any time soon.

10. Mark’s presentations and share purchases are all designed to stop the share price slide and attract attention to the asset. However you can only swim so hard against a tide like this so I am not sure how much difference it makes, but all tides slow and then reverse and globally speaking, this a quality asset. Mark has dedicated almost 10 years to Condor and wants this asset to be realised. My opinion is that when the confidence of mid-tier miners increases and larger miners up their CAPEX’s Condor will be a prized target because its grades and associated CAPEX will represent value to a purchaser.

11. Mark’s attempt at the gold guessing game is that Chinese gold purchasing, of which we may get more clarity on Friday given the alterations in gold pricing, would support the gold price at the level well above our AISC of $700 (FYI- All-in Sustaining costs, is a metric defined by the World Gold Council and is designed to give greater clarity of costing over cash costing and therefore includes all additional costs that reflect the varying costs of producing gold over the lifecycle of a mine). This AISC is very low compared to industry standard.

12. I found it interesting that Mark declared he wanted to sell the asset, however stated that he had not contacted any IBs to find a buyer, as this would be premature in this market and especially giving the upside potential over the next 12 months. That is the confidence of a man who knows he has cash in hand, time on his side and big opportunity to use that cash to attract a buyer. This will alleviate any pressure to make bad, rash decisions or go to intuitions cap in hand for funds- hence MC will keep $2m whatever happens by YE 2015. For me, this is the number one take home of the night. Keep calm and keep working to improve the asset.

[saturdaygirl] 19/3/2015 19:31

Signal Update

Our system’s recommendation today is to STAY IN CASH. The previous SELL signal was issued on 22/01/2015, 56 days ago, when the stock price was 69.3812. Since then CNR.L has fallen by -29.38%.

Market Outlook

The bears are in full control. Besides, the signal is suggesting to STAY IN CASH. It is best to follow the signal and calmly wait on the sidelines

[sir andrew ffoulkes] 19/3/2015 19:25

RNS - Jan'8th 2015

Dr Luc English buys 75,000 (albeit at 20p), holding for the medium term.
Who better to know were the company is going than a man on the ground!

[jeanesy2] 19/3/2015 19:14

looks like we are drilling for dirt !! Next stop 40p ?

[sir andrew ffoulkes] 19/3/2015 12:19

IFC and risk:



"IFC has a thorough approach to risk management in emerging markets, which includes:

Rigorous and conservative capital adequacy, using more demanding standards than are required to maintain a triple-A credit rating.

Conservative portfolio diversification guidelines by company, sector, and region.

Credit risk assessments and integrity due diligence for all investments.

Highest social, environmental, and corporate governance standards."

[jeanesy2] 18/3/2015 19:59

Much bigger volume today. News tmw on soil sampling ?

[sir andrew ffoulkes] 18/3/2015 14:16

Plenty of buying taking place at the moment, sell volume is mis-reported.

[rhuvaal2] 18/3/2015 13:41

No problems whatsoever = when "the dead hand of a body-bag dictator" twitches just one more time..... be impossible to catch CNR when the tide turns

[73ch54] 18/3/2015 12:22

Anyone know what is going on!!

[jeanesy2] 17/3/2015 19:50

Continues to head to new lows. Wont be long before we are below 50p. To be honest i am past caring !!

[jeanesy2] 12/3/2015 18:43

Heading for sub 50p by the looks of things !! Seems like the soil sampling results and/or drill results are not going to be up to much !!

[sir andrew ffoulkes] 04/3/2015 09:44

Indeed it is always good to see a CEO buy, and £15k or so of anyone's money is good money. Whilst the naysayers may see it as cynical manipulation, with the assets and support we have, it can only really be perceived in a positive light.

[psolomons] 04/3/2015 07:10

Nice vote of confidence with Mark C buying some more shares. He has some serious 'skin in the game' which would suggest he's pretty confident of the outcome. Having said that the shares are under 3p old money, pretty good value.

[dishan121] 04/3/2015 07:05

Always good news when the CEO buys shares

[rhuvaal2] 03/3/2015 10:59

Meantime we'll soon be down to the share price level at which our CEO exercised his options

[boilandgas] 03/3/2015 08:00

Chinese building the new canal will have their countrymen looking for local opportunities. A bid will come in and the North Americans will see this as aggression on their doorstep.
Counter bid will come in and we have an auction with the share price seeing new highs.

IMHO

[rhuvaal2] 02/3/2015 20:48

Have patience = 245p or thereabouts :) You'll not get such a reward anywhere else ! (gold stocks in general)

[jeanesy2] 02/3/2015 19:51

Its nice to see the volume + interest hotting up here in anticipation of the soil sampling results due soon and also the drilling news !! --- NOT ! Time to go back to sleep. This share is draining all of my patience !- will some sort of value ever be realised ?? Some scoffed when i said i would be happy to get £1 back for my shares a long time ago- i would happily still take that now and take a smallish loss !