Condor Gold Share Discussion Threads

[drandika] 18/12/2015 20:48

He is probably referring to all in sustaining cash costs. They're <$690 per oz (that's at $100 oil) and Condor quote it all the time. Although being pedantic it's lower quartile as having upper quartile costs isn't that impressive...

[usmcgs] 18/12/2015 17:52

I see the doom and gloom merchant is listing double all the timePerhaps his time would be better spent researching the industry and terms such as upper quartile

[andy] 18/12/2015 17:44

Plasbryn,

Don't tell him but your friend USMCGS has just written a post I agree with!

You see when people look at the situation logically, they are not far apart.

I like MC but I think he's in a financial hole here, as are many other mining juniors around the world, and I wish him luck.

If he has to do a discounted placing clearly it will hurt holders, let's hope that doesn;t happen.but he needs a decent bid soon or it may have to.

[andy] 18/12/2015 17:35

Plasybryn 18 Dec'15 - 11:21 - 11354 of 11357

I agree, but the end of Q1 is only 3 months away! In market terms that is not a lot of time, and makes me feel that maybe they are currently trying to run a financing now, and that has caused the share price weakness.

$7 an ounce is clearly ridiculous, but someone has to want it enough to make an offer, and the clock is ticking!

B2Gold would be an obvious suitor, they could possibly save on capex by trucking concentrate to their plant, but I have mentioned that to MC in the past and he didn't seem to think that was an option, so maybe the cost of transportation makes it unviable?

So,if someone else takes it on, they have to fund the capex and ongoing exploration. And the gold price is falling. There are so many distressed assets around at the moment that potential buyers are spoilt for choice.

Define a "world class asset"? Most companies claim to have one! It's just a phrase used to try and impress people, what are the criteria for such an asset?

Is Nicaragua a better and safer jurisdiction than Canada or USA, or Mexico?

It's all subjective, and people talk their own book, as always, so are not always objective.

[usmcgs] 18/12/2015 15:01

No deal and the share price will go down and looking at when the market will improve is like looking into a crystal ball. MC stated mid 2016 but I am going for q1 as he won't leave it until the last momentI think the only real hope is a deal and that is why the market has taken this downI may have missed it but I haven't seen the savings on account and until then there is uncertainty

[temujiin] 18/12/2015 14:23

MC was/is serious about capital preservation, no drilling, pay cuts for directors, cutting head count, doing essential work only etc.

He was targeting £1m ($1.5m) by Y/E, current burn rate I'd estimate $100k/month, even $150k a month will mean money will only run out end of 2016. IMO I do not believe a placing is on the cards or even being considered atm.

[usmcgs] 18/12/2015 13:35

Plasbyn I agree with most of that. There are still concerns over money and getting a deal done but if a deal is done $7 will be way too low. I am not sure I expect the industry average but what is £1 near to $28. Good money to be made should a deal happenThe half wit Andy is filtered.

[plasybryn] 18/12/2015 11:21

I am probably being a half full kind of guy, but I believe they have cash till end of Q1 and will in all probability get an offer long before then.
Once one offer is announced I expect more to follow.
I have heard it said that at our current market cap of £11m, we are looking at $7 per oz in the ground. That is just wrong on any count, especially as this is a high grade asset with lots more to discover.
I don't know when the EIA will be granted, but maybe an offer is subject to that.
It looks like capitulation here, but for some reason my gut tells me that the value here will be realised.
Lets face it, we have the highly respected and canny Stephen Dattels & Jim Mellon heavily into this - that tells me not to get overly concerned.

[andy] 18/12/2015 11:10

Given the financial position at the end of June, and the burn rate, I wonder whether they are trying to do a placing, and that is causing the share price weakness?


It wouldn't surprise me, they could well be down to their last £1 million now,or possibly less, and they wouldn't want to run it too close to the wire before trying to raise additional funds in this terrible market.

Any (lucid) thoughts?

[usmcgs] 17/12/2015 22:12

No hopefully a buying opportunity soon

[jeanesy2] 17/12/2015 19:09

I see that todays rise could not be maintained !

[usmcgs] 17/12/2015 16:11

Errr no they weren't just questionsIf you don't know enough about the company look after your pocket money and don't investI chose not to answer that for your info is not the same as not knowingYour just another plonker constantly on a downer take a pillFiltered

[andy] 17/12/2015 15:57

usmcgs,

Rubbish, they clearly were honest questions, you just couldn't answer them!

They weren't meant to embarrass you, I presumed you could back up your statements, but sadly you cannot. These are discussion boards, where people ask questions.

That doesn't make me patronising, it just means you don't seem to understand the definition of the word, an entirely different thing altogether!

[usmcgs] 17/12/2015 11:25

Andy perhaps you should not be patronising concerning your previous comments on the upper quartile and the 80 to 100 comment

[temujiin] 17/12/2015 11:17

I recently had a communication with CNR and the firm impression I got was that

the company has enough money to see out an extended offer period
that monthly costs are pretty low now compared to when CNR were progressing towards DFS and
that MC has absolutely no intention at all of letting the asset go cheaply, regardless of what the share price is atm.

The share price is obviously dire, but the asset is obviously desirable for any capable gold miner that has enough cash to see out the current bear cycle.

[andy] 17/12/2015 10:35

usmcgs 17 Dec'15 - 09:30 - 11342 of 11343 0 0

"If you don't know what constitutes us being in the upper quartile then I suggest you shouldn't be investing in this sector."


Don't try to be patronising OK?

If you can't answer the question fine, but don't try and get personal. Every time someone gets personal on a BB it's because they cannot present a lucid argument, so deflect by personal attacks.

You have just done that!

Just because my opinion differs to your does not mean you have to personally attack me, that is a sign of desperation on your part.


And then you move a little towards what I have been saying!


"Yes they will probably try and get away with what they but you are bing silly if you think the current share price will have any influence on the price should we be sold"


There's no "probably" about it!

So you accept that these guys are hard nosed businessmen who will pay as little as possible, yes?

Can you please give me one example of any gold exploration and development company receiving a bid of 4 x current share price in the last 6 months?

[usmcgs] 17/12/2015 09:30

No totally disagreeIf you don't know what constitutes us being in the upper quartile then I suggest you shouldn't be investing in this sector. Yes they will probably try and get away with what they but you are bing silly if you think the current share price will have any influence on the price should we be sold

[andy] 17/12/2015 09:19

usmcgs,

"we are in the upper quartile"

Of what exactly? Please explain who are the other components of this "upper quartile", and what defines them.


"The price we are sold at will not be based on current share price which is just current sentiment"

Come on, that's rubbish, and you know it. Whilst I agree re sentiment in general for share prices, there is a reason why the share price here is so low, and any offers coming in will be based on what they think they can get away with, they are businesses, not charities.

You should have gone to the mines and no money show, you would have met all the other "best in class, upper quartile" companies looking for money without which they can't advance their "world class" projects!

They constituted most of the attendees of the show!

[usmcgs] 17/12/2015 08:41

The market is not full of the same companies as our selves we are in the upper quartile and amongst the few that will still be in profit at lower prices. We also have 90% of our resource to explore and have data that shows plenty of promise for more to come

[usmcgs] 17/12/2015 08:38

No he stated he was not going to sell and hence he believes, no matter what you or he says, that this will riseThe price we are sold at will not be based on current share price which is just current sentiment Do you even know what 80-100p is per oz?Yes I do believe that that is easily attainable with a buyer appearing. 8 bites of the cherry offers good risk reward. I wouldn't hold back for much longer. With site visits completing news should come soon. We are 3 mths after the strategic review rns and they would have already had access to the data store.

[andy] 17/12/2015 08:26

usmcgs 16 Dec'15 - 19:11 - 11334 of 11336 1 0

I would hope, that we would go at least 80 to 100.


If you believe anyone is going too offer £1 a share here you must truly believe in Santa Claus!

If you believe you can make 5 times your money on a bid you would be selling everything to pile in, like anyone else would, yet your'e not doing that, why?



"If you were so sure about cnr going bust you'd sell and get whatever you could but uou State you're not selling"

He didn't say that, he said "the market expects it to go bust", which is quite different!


You have to face it, the mining sector is full of cash distressed "world class, bargain, undervalued, we're not selling at this price" assets, as you would have seen had you attended the recent Mines and no Money show!