Condor Gold Share Discussion Threads

[icb888] 25/10/2019 18:53

Some activity this afternoon has put us UP 6.45% today on volume of 143000. Slightly odd that someone paid 32p for 5000 shares at 14.35 but I hope it’s a good omen for next week.

[book5] 25/10/2019 16:20

Good price actio today

[bomber13] 25/10/2019 09:15

Interestingly enough , the Condor share price is now back to the 23p level that Jim Mellon last paid for stock in August , so maybe we should all take his advice , and buy some more ? After all , he is Condor’s largest shareholder with 15.6% of the equity .

Calibre Mining has also recently requoted at around the 60c level , having raised over C$100m at that price to complete the purchase of B2Gold’s Nicaraguan assets . Therefore , within the next few months we should learn whether Condor and Calibre might join forces in a toll mining/refining deal on part of La India’s 2.3m oz resource , or indeed whether other permutations possibly involving their new 10.4% shareholder , Nicaragua Milling , come to fruition .

Meanwhile , Condor is busy buying up the freehold land they need in order to make La India shovel ready , and finalising environmental studies for the 2 high grade feeder pits at Mestiza and America , which would enable Condor to raise total potential production from the La India project by 50% from 80/- oz pa to 120/-oz pa . These pits , with an average grade of 9.9g/t in the indicated category , will materially improve the pre-feasibility economics of La India , which were based on a grade of 3.0g/t and US$690 AISC per oz .

With gold back above US$1500 , and , with that , implying a pro-forma net profit margin of over US$800 per oz of production to Condor at the very least , in theory La India could repay its US$120m of capital cost in 15 months !

[paleje] 24/10/2019 22:34

Jim Mellon plugging it again through his Master Investor medium this evening, saying gold will break out soon and continue northwards. Two recommendations in the gold sector, one Anglo and the other Condor. I don’t doubt his genuineness at all, I just hope his confidence is well founded.

[book5] 24/10/2019 21:37

Director buying brought me here
GLA

[dexdringle] 22/10/2019 08:38

The market cap is now £21M. What is the highest it has been ?

[bahamasoil] 22/10/2019 08:28

Consolidation

[dexdringle] 22/10/2019 08:23

Just had a look back at the posts for end of 2012 / beginning of 2013 and there were people on there talking about £20 a share genuinely being possible.

What went wrong here ?

[icb888] 18/10/2019 12:32

It is disappointing that the Canadian listing has failed to attract much interest in CNR as it is such a big market for gold and other mining shares. Yesterday’s 31.5% increase in Canada as mentioned above was on volume of 2000 but if it’s of interest that 46 cent price currently converts to 27p

[marketeer4] 17/10/2019 21:42

TSX dealings have been spasmodic showing gains followed by drops. We now sit at 46 cents showing a 30% increase on recent price but this was only on four 500 share purchases. Amazing how small amounts can make such a difference.

[temujiin] 03/10/2019 07:18

CNR treading water until we get some news, which could come any day, or not for months.

[icb888] 02/10/2019 17:25

A bad day for the global markets but not bad for Condor as gold goes back to 1500 and Condor posts a small gain.

[paleje] 19/9/2019 11:56

Nice one again bomber, as you said just after the 8 mins, yes pretty clear what he's got in mind.

[bomber13] 19/9/2019 10:24

I don’t think I have ever heard Mark Child more articulate or statesmanlike than yesterday at the Denver Gold Forum ( please see 15 minutes of it below ) . You will need to click on “ Explorer and Developer “ forum for Wednesday 18th Sept , and Condor’s slot was at 10.45am .

Perhaps his confident demeanour has something to do with Calibre Mining closing an oversubscribed C$102m ( US$77m ) equity placement 2 days ago , which effectively enables their purchase of B2Gold’s Nicaraguan assets to go ahead early next month . As a result , B2Gold will become a 31% shareholder of Calibre , and Calibre will have around US$37m of net cash to play with . Listen carefully to the webcast at about 8 minutes , because it is abundantly clear that Condor still believes Calibre will be interested in exploring a toll mining/refining deal with them , which would be fantastic news if it comes off .

Not only was I particularly struck by that comment , but I thought his latter confidence in a pathway to first a 3m oz of resource , and then to one of 3.5m oz and ultimately 5m oz was pretty telling .

[icb888] 18/9/2019 16:39

Another quiet day today but there was a nice 100000 Buy @26p this morning.

[paleje] 16/9/2019 15:12

Thanks bomber.

[bomber13] 14/9/2019 10:44

Good stuff from our CEO -

[paleje] 13/9/2019 11:59

I think it was mainly Jim's enthusiasm stirring interest and some people lose patience very quickly or are happy with a small profit which is fair enough. But it only needs an RNS re a toll arrangement and this could double easily depending on the deal and the rise would last because we'd have very early cash flow whilst sorting out the long term arrangements.

So yes come along Mark put on cheerful face and get a tolling deal which with gold the way it is makes sense for both parties and will just get get better with time if the pundits are right and the global economy is as iffy as many think.

[icb888] 12/9/2019 10:42

The good prospects for gold as set out above should be very good for Condor lifting its potential value considerably higher. Let’s have some news Mr Child to keep the positive momentum of recent weeks which seems to be taking a breather in recent days.

[paleje] 11/9/2019 08:37

Article in today's Times suggesting good outlook for gold:-

Gold price could climb ‘beyond $2,000 an ounce’
Patrick Hosking, Financial Editor
September 11 2019, 12:01am,
The Times
Banking
Investment
Europe
Russia
Asia
Gold is seen as the ultimate safe-haven asset
Gold is seen as the ultimate safe-haven asset
PAUL J. RICHARDS/GETTY IMAGES
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The gold price could push past its all-time record and progress beyond $2,000 an ounce over the next three years, according to Citigroup.

The prospects for gold were strong because of political uncertainties, recession risk and the expectation that global interest rates are going lower for longer, the American investment bank said in a note to clients. It also pointed to strong buying of gold by central banks. Aakash Doshi, a Citi analyst, said in his most bullish scenario that the spot price could reach $2,150 by the end of 2022.

Gold is seen as the ultimate safe-haven asset. However, it yields nothing and is costly to insure and store. At present at $1,497 an ounce, it hit an all-time high of $1,918 in August 2011. It fell to as low as $1,060 in December 2015. Since May it has been on a tear, soaring from $1,275 to $1,550 before drifting lower.

China’s central bank has bought $4.8 billion of gold in the past nine months as it seeks to diversify away from its dependence on dollar reserves. Russia has also been a buyer.

[icb888] 09/9/2019 10:47

I spoke too soon as the 6 Buys have been followed by 6 Sells and the share price has ticked down on volume of 120000.

[888icb] 09/9/2019 09:46

6 small trades to start the week off. All Buys and a Volume of 24000. Let’s hope we an maintain positive momentum and at least reach 30p this week.

[bomber13] 07/9/2019 20:13

Is it not pretty significant that Jim Mellon , the billionaire NED of Condor , has stepped up his buying of Condor shares all of this year . Indeed , if you look back at his history of ownership , he has gone from just 0.2 % of Condor in 2011 when he first became a director to a 5% holder in 2017 , to 7% in November 2018 , and , as of today , to 15.6% , making him Condor’s largest shareholder . Importantly , he cornerstoned the £4m fundraising by Condor in July at 20p , and has since made three smaller market purchases at 23p , the last being on 23rd August . Looking back on his purchases since 2011, my analysis suggests that his average in-price for owning 15.6% of Condor is 34p per share .

Jim Mellon’s bullishness of gold is well-known , and his timing of Condor purchases this year is most interesting because it is no secret that Condor is looking for a strategic transaction to take La India into production either via a toll mining/refining deal , joint venture or outright sale . Therefore , his buying in 2019 in the face of two forced sellers , City & Financial and the IFC collectively with 10% of Condor , has helped ensure that Condor cannot be bought on the cheap , and if you add his 15.6% holding to that of Nicaragua Milling , a recent strategic investor , owning 10.4% , Ross Beaty , another well-respected mining billionaire , owning a further 6.9% , and the CEO , Mark Child , owning 4.4% , that is a collective 37.3% of Condor looking for the best possible shareholder outcome .

Calibre Mining , who is buying B2Gold’s Nicaraguan assets , is thought to be near to completing a fundraising of up to C$115m ahead of its deal closing in mid-October . Its immediate priority will be to give some much needed longevity to the La Libertad mine/plant , which is only thought to have 12 months ore left . A toll/joint venture deal with Condor must be a sensible option , and maybe the two will talk / meet next week and the week after in Colorado ?

With pre-feasibility AISC of under US$700 per oz , and a 2.3m oz resource , surely potential net margins of around US$800 per oz at today’s gold prices make it inevitable that , one way or the other , La India is put into production for the benefit of all Condor shareholders ?

[bomber13] 07/9/2019 18:09

And is it not interesting that both Condor and Calibre Mining , the guys buying B2Gold's assets in Nicaragua , are presenting at the same gold conferences at Beaver Creek next week , and Denver the following week ? Perhaps , the two CEO's might even be on the same flight to Nicaragua after that ?

[icb888] 07/9/2019 12:13

A poster on another BB has said Mark Child has a busy 4 weeks ahead with a couple of precious metal conferences followed by 2 weeks in Nicaragua. Let’s hope we are close to good news to keep this share price moving north.