Condor Gold Share Discussion Threads

[sir andrew ffoulkes] 16/9/2015 11:00

Let's not be guilty of establishing a 10 day or 28 day period looking for news of a potential buyer, this is simply a shareholding disclosure period for those with an interest in over 1% as we are in an offer period. One can be quite sure based upon recent price action no news will be forthcoming at the 10 day point, any purchaser who already had a holding would probably have over 3% anyway and already be subject to regulatory disclosure.

It's perfectly possible for a buyer without any interest to make an offer or enter a JV etc. It's also possible for a tyre kicker to be doing just that but without being in formal discussions and it could be that the NOMAD takes a different view than the Company in what constitutes a necessity for regulatory disclosure.

Please read the RNS again !!!!!!

"The Takeover Panel has granted a dispensation from the requirements of Rules 2.4(a), 2.4(b) and 2.6(a) of the Code such that any interested party participating in the formal sale process will not be required to be publicly identified as a result of this announcement (subject to note 3 to Rule 2.2 of the Code) and will not be subject to the 28 day deadline referred to in Rule 2.6(a), for so long as it is participating in the formal sale process. Interested parties should note Rule 21.2 of the Code, which will prohibit any form of inducement fee or other offer-related arrangement, and that the Company, although it may do so in the future, has not at this stage requested any dispensation from this prohibition under Note 2 of Rule 21.2."

"Under Rule 8.3(a) of the Code, any person who is interested in 1% or more of any class of relevant securities of an offeree company or of any securities exchange offeror (being any offeror other than an offeror in respect of which it has been announced that its offer is, or is likely to be, solely in cash) must make an Opening Position Disclosure following the commencement of the offer period and, if later, following the announcement in which any securities exchange offeror is first identified. An Opening Position Disclosure must contain details of the person's interests and short positions in, and rights to subscribe for, any relevant securities of each of (i) the offeree company and (ii) any securities exchange offeror(s). An Opening Position Disclosure by a person to whom Rule 8.3(a) applies must be made by no later than 3.30 pm (London time) on the 10th business day following the commencement of the offer period and, if appropriate, by no later than 3.30 pm (London time) on the 10th business day following the announcement in which any securities exchange offeror is first identified. Relevant persons who deal in the relevant securities of the offeree company or of a securities exchange offeror prior to the deadline for making an Opening Position Disclosure must instead make a Dealing Disclosure."

[jeanesy2] 15/9/2015 19:21

What happens next is what i want to know. After the 10 day period has elapsed and no-one comes forward as interested in making an offer, then what..? I really dont understand what there was to gain in issuing that RNS unless there were companies interested and it seems so far they are not!!

[usmcgs] 15/9/2015 16:22

Not many seem interested in the for sale sign going up, going on volume

[888icb] 15/9/2015 08:10

The information is important in relation to the future development of the project and will therefore be useful to a potential purchaser. The point is to help get Condor sold for the highest possible price.

[sir andrew ffoulkes] 15/9/2015 08:07

One does not believe that RNS is written for small PI's.

[jeanesy] 15/9/2015 07:33

RNS out, dont understand a word of it. The point of it was.. ?

[harebridge] 12/9/2015 09:56

Is Jibbo still ramping this up? The money was to be made in the early days a few years back, when any commodity based rubbish on AIM multi bagged.Those days have long gone now & I see several companies like this are openly up for sale.Unfortunately, the big boys are strapped for cash too.So how much is this worth? Unfortunately, looking at volumes of buys recently, not a lot. This will be taken at a bargain.

[sir andrew ffoulkes] 11/9/2015 22:05

Indeed, that is why the price did not rise with all the buying that day. Hopefully that is the last of them and we will see a rise with any decent purchase volume.

[jeanesy2] 11/9/2015 20:30

Delayed trade of 250k reported late on. Almost certainly a sell, to go with another 100k sell reported today.

[usmcgs] 09/9/2015 16:22

Change that from slowed down to dried up

[usmcgs] 09/9/2015 14:35

Seems likely

Whatever the reason it seems to have slowed the volume down

[sir andrew ffoulkes] 09/9/2015 14:30

It's very unusual activity, so perhaps a large sell being worked that we'll see reported late.

[usmcgs] 09/9/2015 13:42

All that buying volume and a tick back down

[usmcgs] 09/9/2015 09:41

Decent volume again but we do not seem to move as quick as we used to

[usmcgs] 09/9/2015 07:58

From LSE ref today's RnsTwo interesting snippets around legal issues/concession rights On 24th August 2011, Condor announced the purchase of the 2km² Espinito Mendoza Concession for a consideration of US$1,625,000 spread over 4 years, payable in cash and shares. The transaction requires Condor to complete 5,000m drilling, which Condor has not completed and for the seller of the Concession to provide clean title of the freehold land, which they have not provided and are unable to provide. Condor has paid US$1,125,000 to date and is withholding the balance of US$500,000 until this dispute is settled. SRK Consulting A hearing was held in Vancouver, Canada on 27th to 29th May 2015 regarding an on-going dispute between B2Gold Corporation, Royal Gold Inc and Condor Gold plc over a 3% NSR on 65km² of La India Concession. The judge's ruling has recently been received. To quote the Judge: "In conclusion, I declare that La India Gold S.A. holds La India concession subject to the royalty originally made between Minera de Occidente S.A. (now Triton, owned by B2Gold) as payor and Repadre Capital Corporation (now Royal Gold) as the present holder. The La India concession, to the extent that it corresponds on the ground with the original concession subject of the royalty agreement, is, by clause 2.7 of the letter agreement, subject to the obligations of the royalty agreement." Condor is taking legal advice in Canada, Nicaragua and the UK on the implementation and enforceability of a Canadian ruling on a Nicaraguan incorporated company.

[sir andrew ffoulkes] 08/9/2015 14:57

We will all know the answer to what we have in the bank very shortly one suspects, at least on the 30th June anyway. One would not be at all surprised to see those accounting numbers this week!
Absolute confidence on my part that we had at least £2m leftover on 30/6.......probably more. We are not short of cash and this is not a fire sale.

[steeplejack] 08/9/2015 12:06

You're probably right Sir Andrew,I don't see MC giving the company away.Afterall,it was only last October that the IFC purchased stock at 90p plus warrants exercisable at 144p.Mind you,seems a long time ago now.I'd like to think that 90p is a benchmark of sorts.With the SA gold producers losing money at the current POG,I can't help thinking that the proverbial is going to hit the fan some way down the road if attractive prospects like Condors can't raise finance.

[marketeer4] 08/9/2015 08:25

My reading of last Friday's RNS and the two subsequent disclosures is that any holder of more than 1% of the total shares in issue has to declare their position and outline the number of shares held. I am not reading anymore into it at this time.

[sir andrew ffoulkes] 08/9/2015 08:19

MC has made it abundantly clear that he will not undersell this company or its assets, both the IFC and Jim Mellon are undoubtedly on board with that. Those who may have concerns about offers prices less than $80m are sadly mistaken. Top side in current PoG environment is probably $120m. If PoG price falls further we will NOT be sold but taken to care and maintenance

[haughtonhoney] 08/9/2015 08:13

Well spotted

[888icb] 08/9/2015 08:04

Another disclosure this morning of the directors interests but the title is interesting because it relates to Parties to an offer. Does this mean there is an offer and the Directors intend to support it?

[steeplejack] 07/9/2015 10:14

Don't forget shale gas.A boon for the U.S. and a bane for the likes of Russia as consequentially US energy self sufficiency helps to drive down the oil price.As much as the U.S. might like to signpost a return to normalcy with a rate hike,I don't think it will lightly undertake such a move.It would be selfish and probably self defeating given the current state of the world economy.Any increase would,however,be small and with low energy prices possibly won't derail growth.Afterall,some fiscal tightening hasn't derailed growth in the U.S. And UK.I'm bemused by the slump in gold for all the well worn reasons and I suspect there has been manipulation of the price.A strong gold price reeks of panic and suggests a lack of confidence in economies and currencies alike.The U.S. ,I suspect saw a weakening gold price as a corollary of growing confidence in economic recovery.Inflation is a sleeping beast for the foreseeable future and that seems to mitigate against a meaningful recovery in the gold price

[richgit] 07/9/2015 09:31

steeplejack.


The Fed is supposed to decide whether they can raise interest rates by a spiders foot print,as they conceal that the US employment is falling off a cliff at a real rate of 23%.

The Consumer economy is now in recession as the Consumer is consuming at some
$500,000,000 less already as many decide they have hit a wall on debt.

House ownership at its worst in decades meaning the majority suffer exorbitant
rents.

There is another half to this World that fully understands the US cannot afford
an interest rate hyke under such dire circumstances,so what happens if the Fed choose such a course is most certainly NOT written in stone for Gold a sall would have us believe

Personally I think of all destructive choices left they will go for the Helicopter drop of Tax cuts at some point,as another QE will similarly never get into the bust consumers` pockets and the Elite that will never offer another $Dollar in Tax to help those they stole their obscene wealth from would
only become more obscenely rich and more determined to turn Joe Bloggs into Cow Pats for their soles to tread.


IMHO..

[steeplejack] 07/9/2015 09:19

Furthermore,Andy,my excitable little muppet,neither my UK or my US broker deal in Canadian stocks which has probably proved a blessing over the years.