Condor Gold Share Discussion Threads

[usmcgs] 21/11/2015 09:13

Dishan Carryon believing in santa, whilst the real world carrys on

[jeanesy2] 21/11/2015 08:28

Sorry but there really is no hope for this share now. MC has done nothing to stop the rot recently. Even a statement to the market to say something about negotiations , visits etc would have been something. All credability lost i'm afraid. Time to take a big loss rather than a total loss now!! Looks like TW was right after all!

[dishan121] 21/11/2015 07:15

Christmas is 5 weeks away! What are you expecting? Aliens to visit Nicaragua?

[harebridge] 20/11/2015 22:14

A few crying on lse, wondering where it all went wrong. JIbbo still spamming on there, the same bloke who thought this would go for £8 a share. If this isn't mothballed by Xmas, 8p a share will be generous.

[sir andrew ffoulkes] 20/11/2015 14:08

£2m would probably get us through to fully permitted. Then who knows.

For now we need to wait and see the outcome of the 5 site visits, one wonders if any of these visits are from previously interested parties who've been before? It'd be great to think they felt we were worth a second look.

[usmcgs] 20/11/2015 13:17

Temujiin I agree sale is the most likely routeI hope we do not mothball as I don't see that being good for the share price either and who knows when pog will recover

[temujiin] 20/11/2015 13:11

Usmcgs,

I agree worse case scenario atm would be no JV or sale & CNR decided to go it alone which would be highly dilutive. This is one of several possibilities and as stated CNR are not looking to go this route.

Another option if no JV or acceptable offer, would be snail pace the project until POG recovered, or if necessary, care and maintenance/mothballing.

MC and others have a lot to lose and a lot to gain from a sale. IMO he'll mothball this for 2 years rather than sell on the cheap. However with 5 separate site visits, we therefore have 5 interested parties already, and a quality asset in anyones book.

[dishan121] 20/11/2015 10:31

Time will definitely tell

[usmcgs] 20/11/2015 09:52

In the last 3 days we have so far had less than 3k volume. At a time when we are supposedly up for a sale or jv I find this disturbing and adds to my feeling that the market is not expecting a deal and instead thinks we will be left to look for funding to get us to become a producer and that will entail massive dilution. Time will tell

[usmcgs] 20/11/2015 08:46

Temujiin Without a deal they will need a much higher placing to move forward and become a producer. MC has already stated so

[smelgys son] 19/11/2015 22:20

Makes entire sense imo but look out for fun and games if the MM desire is there - or it is not interpreted as a positive (i.e. I'm wrong!).The bulk (9m) went at 8.25p, a great price....and more importantly, absorbed now and in the price.Banking a profit is essential for successful investing. And when it comes with tax reasons attached it makes even more sense.Options in the future

[temujiin] 19/11/2015 22:18

Usmcgs,

how much cash we have is important so we can hopefully conduct a JV or sale without the need to raise another $1m. I'd hazzard a guess that MC originally stated cash til end 2016 when he was aiming to complete BFS. Plans have changed, cash burn has been reduced, hence change of estimate to $1m by year end.

Either way raising $1m isn't going to be that dilutive, as even at a mere 20p it's a just 3m odd shares, 2.2m at 30p.

[usmcgs] 19/11/2015 22:03

TemujiinIn some ways it doesn't matter how much cash we have. There will either be a deal or a placing at a far lower share price It is a binary outcome. Originally mc had stated we had enough cash until end if year. That then changed to we would have 1m left. One thing for certain is that he will not wait until money runs out to raise cash. If there is no deal the share price will no react well and any placing will be far lower. Look at the last placing.

[smelgys mum] 19/11/2015 21:17

I've got a big condor in Florida!

[temujiin] 19/11/2015 21:12

Hi Andy,

yes loss to 6 months to June was $1,458,000, which at that rate would still mean money only runs out end June 2016.

But that is assuming CNR's burn rate is the same as H1 2015, which involved Whittle study, Geology study, Soil survey and 1,952m of drilling. Also CNR has been in a legal dispute for a good while, afaik.

Cash burn atm is significantly reduced.

[andy] 19/11/2015 20:48

Temujjin,

Take a look at the loss for the 6 months to June!

They're now spending money on a legal dispute, I wonder how much is left at the moment?

[saturdaygirl] 19/11/2015 20:38

free stock charts from uk.advfn.com


GDXJ seems to be forming a rounded bottom , CNR may yet fall into the GDXJ path or below it !

Time to see if the GDXJ can hold or build on the base

[temujiin] 19/11/2015 19:46

Anyone looking at Condor may look at the finances and sit it out a bit longer in the hope he runs low
===============

It's likely to be a good while imo before CNR's finances runs low.
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
AS AT 30 JUNE 2015

Cash and receivables was $3,625,000
Trade and other payables $570,000

Net positive $3,055,000 as of end June and no expensive drilling atm.

[saturdaygirl] 19/11/2015 19:34

Andy

You are right , bid friction or a turn around in the gold price or I suggest we get mothballed till gold ends its bear market .

[andy] 19/11/2015 18:22

Harold,

Not sure why your comment is so aggressive? I just made the point they were exhibiting in Switzerland, which, if anything, supports your point!

In the grand scheme of things the relatively small cost of attending these events is outweighed by the potential opportunity it gives him to network and possibly come up with a deal.

Anyone looking at Condor may look at the finances and sit it out a bit longer in the hope he runs low and does a deal under pressure, and we all know they end badly for the chap needing the money.

He needs bid friction to come into play......

GLTA

[usmcgs] 19/11/2015 15:13

After yesterday's massive 2k volume today we have less than 600k

[usmcgs] 19/11/2015 10:20

No volume .... again

[haroldthegreat] 19/11/2015 09:55

Andy that is past news now I have just received mines and money programme and so made the comment as some people might not be aware of more cash being wasted.I suppose if one wanted to be charitable one might say he could bump into someone who might make him an offer !!!

[andy] 18/11/2015 22:12

Not necessarily, the MM's have to make a market.

They may be holding some.