Condor Gold Share Discussion Threads

[goneawol] 04/4/2016 10:55

I think MC was spot on with guidance, TW not so much.

[andy] 04/4/2016 10:34

hazl,


Oh yes they did!

There were attempts to lengthen the period their cash would last before a placing was needed, whilst those with experience in the market knew they would raise well before their cash ran out.

[hazl] 04/4/2016 10:26

These firms always need cash resources at this stage of their growth.
I don't think anybody said differently?
For me it was about the strength of the asset and potential going forward.

[gymratt] 04/4/2016 10:10

Just bought some..showing up as a 'sell'.

GLAH

[andy] 04/4/2016 09:37

bunpa,

good, I thought I as going crazy for aminute!

Good placing price, and Ross is a good investor, so overall positive although you can't ignore the dilution.

At least this will stop some people denying a placing was coming, the accounts told us it was.

[bumpa33] 04/4/2016 09:12

I stand corrected, and therefore actually pretty positive all told...

[hazl] 04/4/2016 09:11

At last somebody who knows what they are talking about!
THanks GONEAWOL.

[temujiin] 04/4/2016 09:02

Your maths is correct Goneawol

[goneawol] 04/4/2016 08:56

So for 3 units costing £1.20 (3 @ 40p placing)

Shareholder gets 3 shares and two warrants.
Condor gets £1.20

Shareholder exercises the warrants at 60p

Shareholder now has 5 shares.
Company has £2.40 (3 shares at 40p, 2 warrants at 60p)

48p per share.
.....

Happy to be corrected

[hazl] 04/4/2016 08:53

The start of the gold bull and money is always required its great to attract the calibre of the fresh investor.

[temujiin] 04/4/2016 08:50

Bumpa, you are talking about the 'nominal value' of the company shares, which is a fixed amount, it doesn't vary (look back at other placing RNS's) and isn't linked to the actual live, real time, price of Condors shares. A common misunderstanding.

[hazl] 04/4/2016 08:48

'The proceeds of the Placing will be used for general working capital purposes and specifically: to fully permit Mina La India in Nicaragua, pay the remaining US$670,000 for the purchase of the Espinito-Mendoza concession (see RNS dated 21 March 2016), secure the surface rights for the rural land that host and surround the future mine infrastructure and continue work to demonstrate the significant exploration upside of the 2.4M oz gold resource at 4.0g/t gold at La India Project. '

[hazl] 04/4/2016 08:46

the assets are the thing though...

[bumpa33] 04/4/2016 08:46

Like I said, nicely worded/structured...

[bumpa33] 04/4/2016 08:45

No, read it properly - UNIT at 40p, each UNIT consisting of one SHARE at 20p and two thirds of one WARRANT at 60p.

[temujiin] 04/4/2016 08:43

Clearly a placing at 40p a share Bumpa, at zero discount to current share price

Proactive comment:

Canadian mining entrepreneur buys into Condor Gold PLC


[...]

Canadian mining investor Ross Beaty has taken a sizeable stake in Condor Gold (LON:CNR) through a placing to raise £2.6mln for the Nicaragua-focused explorer.

Beaty, who founded and is currently chairman of Pan American, one of the world's largest silver producers, subscribed for £1.5mln worth of the units and will have a 7.18% stake post the placing on an undiluted basis.

The units were sold at 40p each and comprised one share and two-thirds of a warrant exercisable at 60p.

Other heavy backers of the placing included a specialist resource fund, major shareholder Jim Mellon and executive chairman Mark Child.

The cash will cover the US$670,000 needed for the purchase of the Espinito-Mendoza concession and the purchase of land for a mine at the La India prospect.

Condor submitted an Environmental Impact Assessment in November as part of its application for an environmental permit for a 2,800tpd processing plant capable tp produce approximately 100,000 oz gold per annum at an all in sustaining cash cost of US$700 per oz gold.

Site visits and key meetings have been held with several government ministries, said the company, while offers have been made to to buy the surface rights for approximately 800 hectares of the area affected by a mine in the future.

[edjge2] 04/4/2016 08:42

market like it today at last... tomorrow reflection and .....
Quite a buy at 20p

[hazl] 04/4/2016 08:42

They are good at marketing which is an important part,in my opinion as well.

[bumpa33] 04/4/2016 08:35

Nicely worded though, I'll give them that...

[bumpa33] 04/4/2016 08:34

How thick do you have to be to not realize (publicly anyway) this is a raising at 20p a share with an attached unlisted, well out of the money warrant at 60p....!

[temujiin] 04/4/2016 08:30

For the record, just bought 5000 at 41.5p

[bahamasoil] 04/4/2016 08:27

He also has declared interests in Galantas and Dalradian

[hazl] 04/4/2016 08:23

'The Company is pleased to announce that Ross Beaty has subscribed for GBP1.5 million worth of Units and will have a 7.18% shareholding in the Company post placement on an undiluted basis. The investment follows a site visit and technical due diligence. Mr Beaty is a Canadian mining entrepreneur with a successful track record of both building mining companies and developing mineral deposits for sale. The Company has agreed to a non-dilute clause for Mr Beaty's shareholding. The Company also welcomes a specialist resource fund managed by an affiliate of Sprott Inc. as a shareholder. '

EXCELLENT

[hazl] 04/4/2016 08:21

little beauty