Condor Gold Share Discussion Threads

[usmcgs] 23/11/2015 09:59

Don't think so lolHe hasn't learnt either. On that last interview he was laughing at the thought of an offer at the average recent t/o price. MC has now made the same mistake twice ...... not clever and not installing belief

[andy] 23/11/2015 09:59

psolomons,

Don't worry, he wont be getting any £1.20 offers in this market,IMHO!

That is a huge premium for where they are now, shareholders will have to accept a lot less than that, or an all paper deal, where the value of the paper normally decreases after the offer is made.

If MC achieves £1.20 it will be a stunning deal, and anyone advocating turning it down is crazy, in this market, IMO.

Has anyone seen the POG?

And the trend?
.

[temujiin] 23/11/2015 09:51

Maybe it was a stunningly clever move to indicate a low sale price to generate interest and get buyers thru the door. :)

[psolomons] 23/11/2015 09:18

It was an interesting interview but to admit he would gladly accept an offer in the £1.20 region has got to be a mistake. Major shareholders would be taking a big hit.

[temujiin] 23/11/2015 07:45

if there is no sale or jv I think they have no choice but go for the mining option
=======================

Usmcgs,

the above isn't true as they clearly have an option to snail pace/mothball the project. It doesn't mean they will but they have that option.

This could all be academic anyway as with now at least 8 interested parties, there is definite interest in CNR's assets, and I would hope to see several offers (not necessary acceptable offers) being tabled.

[andy] 23/11/2015 00:00

usmcgs 22 Nov'15 - 19:33 - 11173 of 11180 1 0

Temujiin

3. He has already that he does not expect an offer of 4x the current value in this market and that any buyer would find it difficult to explain that to their shareholders. Imo MC has made a mistake admitting that to his shareholders and to any potential company looking at making an offer
-------

Don;t worry any potential buyers will only give the figure they want to, there are no favours done in this game!

MC has given nothing away there, the suitors know Condor's position and any offer made will be in accordance with what they think they can get away with.

I would doubt they could raise the capex required in this market.

[usmcgs] 22/11/2015 23:21

I don't see the point of doing a small placing

I agree with your last para but if there is no sale or jv I think then they have no choice but to be clear and go for the mining option and the pain to the share price that will bring

[temujiin] 22/11/2015 22:13

' Mothballing and lots of smaller placings/dilution makes no sense.'

Disagree with the above as one placing for £1.5m, which is pretty small with regards to % dilution, and could well see us thru to mid 2017. CNR would not be in a hurry to sell and it would, imo, be better to wait for 'hopefully' a better POG price and a recovery in small cap explorers, than to sell out to the highest low ball offer.

I don't think CNR will try to go it alone to production, so imo it'll be a JV / sale, or snail pacing/mothballing. This would of course, not be good for the share price though.

[usmcgs] 22/11/2015 21:47

Temujiin I never said that but mid 2016 is just 7 mths away and as you agree he won't wait until the last moment. The other issue is that, imo, we should know by early 2016 whether a deal is coming. If there is not then we will have no real choice other than to become miners. That will mean massive dilution and earlier than mid 2016. Mothballing and lots of smaller placings/dilution makes no sense. The market will want crystal clear clarity

[temujiin] 22/11/2015 21:15

''the company is on the verge of massive dilution just to stay alive.''

Harebridge, re the above. How much do you envisage the company 'needs to survive'? With little expensive activity planned I'd imagine the figure to survive another year at say £1.5m. Care to put a figure on what 'massive dilution' means iyo?

Usmcgs, I agree MC made a mistake re what he'd expect to sell for, and seems to be trying to back track on that. Also agree they wont wait until the last minute to raise funds. As for your view CNR only has a few more months money left, well the CEO has officially and clearly said money of approx $1.5m by year end, and it can last until mid 2016.

[saturdaygirl] 22/11/2015 21:14

I think the best option is to mothball raise 2 million and let gold turnaround .

[usmcgs] 22/11/2015 20:18

To add to my previous, if there is no deal I do not think that it will that we can last a few more months before cash runs out, as far as the share price concerns.Sadly I do believe we are desperate for a deal to be done, whether that is a sale or jv. I am not even sure how well a jv would go down. How much of the company would they want in order to biild a mine?

[harebridge] 22/11/2015 20:06

"This is not imo, an asset that is lacking in suitors."Really!! Please, am I the only one on here who is actually following the Share Price?Have you guys been looking at the graphs?This is in free fall & nobody is interested. Mark Child is a nice humble guy, but the company is on the verge of massive dilution just to stay alive. The only other options are mothballing or winding this company up.

[usmcgs] 22/11/2015 19:33

Temujiin It is alright MC saying he has enough cash until mid 2016 but:1. He won't wait until the last min to raise cash 2. If no deal appears then he will need to raise massive amounts to take this further3. He has already that he does not expect an offer of 4x the current value in this market and that any buyer would find it difficult to explain that to their shareholders. Imo MC has made a mistake admitting that to his shareholders and to any potential company looking at making an offer

[temujiin] 22/11/2015 18:29

Jeanesy, I don't know if you do or do not hold CNR, that is of course your business, but posting undermining comments about the company in which you say you 'stand to lose alot', is neither helpful to your potential wealth, or logical. If you feel the share price is going to go lower you should sell, if you feel we have reached the bottom, you should say so and be positive.

Several things are clear from the MC's last interview as he has gone officially on record as saying

1. Cash balance is healthy until mid 2016.
2. He indicates he will not sell on the cheap and talks about an indicative sale of average TO peer prices of approx $56/oz, as CNR's asset is superior to peers.
3. Even in this bear market, 8 (eight) potential partners/ buyers have progressed to CA's and presumably site visiting.

This is not imo, an asset that is lacking in suitors.

[usmcgs] 22/11/2015 13:52

There is nothing new in it other than 8 companies interested which means nothing unless an offer appears

[jeanesy2] 22/11/2015 13:35

The shareprice has done nothing but fall since that presentation in Zurich. Clearly nobody believes him anymore.. sadly!

[andy] 22/11/2015 12:21

Sir Andrew,

well he doesn't have a choice but to put out positive statements, does he?

Otherwise he would initiate a stampede for the exit!

And that's the last thing they need,as there is already a strong trickle, as witnessed by the consistently falling share price.

[sir andrew ffoulkes] 22/11/2015 11:53

This interview is very useful and gives quite a lot away, nobody is getting carried away, they are just pleased to see such positive statements from MC.

[usmcgs] 22/11/2015 11:09

Lse getting carried away again with a new mc interview Other than saying 8 companies now looking there is nothing that has change