Condor Gold Share Discussion Threads

[bomber13] 07/4/2020 15:53

Permits for the two high grade feeder pits at Mestiza and America are due any day now . The recent public consultations went well , and can be viewed on Condor’s website at , and Condor’s CEO had already commented publicly that he expected the permits “ by end March “ . With the Coronavirus background ( see latest Nicaraguan effect in appendix below ) it is entirely possible that there may be a small delay , but it seems highly unlikely that the mining minister and the President would not want to rubber stamp the permits , particularly in the light of the recent Calibre Mining news .

On 25th March , as a preemptive measure to counteract the coronavirus , Calibre Mining temporarily suspended mining and milling operations at its 2 gold mines at El Limon and La Liberatad , and put the assets under care and maintenance . Underground mining at La Libertad had already been suspended since November , 2019 because of ground destabilisation issues . Calibre also suspended production guidance for 2020 , which was to have been a combined total of 140/- to 150/- oz , which , given that gold mining is one of Nicaragua’s big earners , is a major short term blow to the country .

It had been thought that spare capacity at the La Libertad plant might involve Calibre in a toll deal with Condor , and , given the above circumstances , pressure on Calibre to do so may therefore be mounting . Under Condor’s high grade mining scenario utilising the feeder pits , which contain a resource of 245/- oz at 4.65g/t , Condor could produce 50/- oz pa at sub US$700 AISC from a 1000 tonnes per day plant . This operation would be enabled either via a toll deal with AN Other or via Condor’s own plant , largely funded by project finance .

With gold nearing US$1700 , and promising Condor pre-capex net margins of US$1000 per oz , which is pro-forma cash flow of US$50m pa , it is hardly surprising to hear the CEO talk confidently of breaking ground this year .

Bring on the permits .




APPENDIX - virus latest

NICARAGUA

Spread

April 5: 6 confirmed cases, 1 death
April 2: 5 confirmed cases, 1 death
April 1: 5 confirmed cases, 1 death
March 31: 5 confirmed cases, 1 death
March 26: First death
March 24: 2 confirmed cases
March 18: First confirmed case
Vice President Rosario Murillo, who is the wife of President Daniel Ortega, confirmed on March 18 the country’s first case, involving a 40-year-old Nicaraguan man who had traveled to Panama City.
Government response

Ortega has not made a public appearance in more than 20 days, leaving his wife Murrillo in charge of handling the country’s response and fueling speculation as to his whereabouts.
On April 1, Ortega named Martha Verónica Reyes Àlvarez as the new Minister of Health, replacing Carolina Dávila Murillo. Dávila Murillo will now serve as an advising minister to the president in charge of overseeing health services in Managua.
Before authorities confirmed the country’s first case, Ortega’s administration announced that it would ban wakes and funerals for those who die of the virus.
As of the time of the confirmation from Murillo, the government had not implemented quarantines, school suspensions, or travel restrictions, nor did she indicate if or that it would. A number of local businesses, including bars and restaurants, decided to close down to protect their staff and clients.

[888icb] 07/4/2020 12:46

A small trade just after Noon was a buy at 33p so we could do with more of those this afternoon. Otherwise of the 20 trades the buys and sells are fairly balanced on volume of 168000. So up 5.2% at 30p. A few decent buys now could quickly move us to mid 30’s where we were a month ago before the crisis caused unexpected problems for gold. Gold however looks in striking distance of 1700 again which would help.

[book5] 07/4/2020 11:26

villagers are in self imposed lock down, at least the ones I know.
nothing much happening in la India, but smaller pits seem to go ahead, hence share up?

[888icb] 07/4/2020 11:22

Moving up 7.2% to 30.5 on volume of 101000. Thanks for that detailed summary of where we are. It would be good to get those 2 permits signed off as they are now 1 week overdue but probably down to the Coronavirus. We should be well set for a run to a higher level once the permits are in the bag.

[bomber13] 07/4/2020 10:07

Permits for the two high grade feeder pits at Mestiza and America are due any day now . The recent public consultations went well , and can be viewed on Condor’s website at , and Condor’s CEO had already commented publicly that he expected the permits “ by end March “ . With the Coronavirus background ( see latest Nicaraguan effect in appendix below ) it is entirely possible that there may be a small delay , but it seems highly unlikely that the mining minister and the President would not want to rubber stamp the permits , particularly in the light of the recent Calibre Mining news .

On 25th March , as a preemptive measure to counteract the coronavirus , Calibre Mining temporarily suspended mining and milling operations at its 2 gold mines at El Limon and La Liberatad , and put the assets under care and maintenance . Underground mining at La Libertad had already been suspended since November , 2019 because of ground destabilisation issues . Calibre also suspended production guidance for 2020 , which was to have been a combined total of 140/- to 150/- oz , which , given that gold mining is one of Nicaragua’s big earners , is a major short term blow to the country .

It had been thought that spare capacity at the La Libertad plant might involve Calibre in a toll deal with Condor , and , given the above circumstances , pressure on Calibre to do so may therefore be mounting . Under Condor’s high grade mining scenario utilising the feeder pits , which contain a resource of 245/- oz at 4.65g/t , Condor could produce 50/- oz pa at sub US$700 AISC from a 1000 tonnes per day plant . This operation would be enabled either via a toll deal with AN Other or via Condor’s own plant , largely funded by project finance .

With gold nearing US$1700 , and promising Condor pre-capex net margins of US$1000 per oz , which is pro-forma cash flow of US$50m pa , it is hardly surprising to hear the CEO talk confidently of breaking ground this year .

Bring on the permits .




APPENDIX - virus latest

NICARAGUA

Spread

April 5: 6 confirmed cases, 1 death
April 2: 5 confirmed cases, 1 death
April 1: 5 confirmed cases, 1 death
March 31: 5 confirmed cases, 1 death
March 26: First death
March 24: 2 confirmed cases
March 18: First confirmed case
Vice President Rosario Murillo, who is the wife of President Daniel Ortega, confirmed on March 18 the country’s first case, involving a 40-year-old Nicaraguan man who had traveled to Panama City.
Government response

Ortega has not made a public appearance in more than 20 days, leaving his wife Murrillo in charge of handling the country’s response and fueling speculation as to his whereabouts.
On April 1, Ortega named Martha Verónica Reyes Àlvarez as the new Minister of Health, replacing Carolina Dávila Murillo. Dávila Murillo will now serve as an advising minister to the president in charge of overseeing health services in Managua.
Before authorities confirmed the country’s first case, Ortega’s administration announced that it would ban wakes and funerals for those who die of the virus.
As of the time of the confirmation from Murillo, the government had not implemented quarantines, school suspensions, or travel restrictions, nor did she indicate if or that it would. A number of local businesses, including bars and restaurants, decided to close down to protect their staff and clients.

[888icb] 07/4/2020 09:43

A 20000 buy at 30p has just gone through which should start us moving north after a slow start on a day when global markets are again doing well.

[888icb] 07/4/2020 07:57

Gold has dropped a little from it’s high last night but is still at 1658.

[888icb] 07/4/2020 00:49

US market closed UP7.7% and Gold has moved UP strongly to 1675. Let’s see if Condor continues its strong 14% rise when the market opens

[888icb] 06/4/2020 15:22

The markets globally are having a good day today as is Gold which has moved up again to 1656. Condor has paused for breath on volume of 188000 but it would be good to see another small push to get to 30p by the close. It seems along time ago now but in early March we achieved our 52 week high of 34.5p. We are slightly overdue for permit news which should push us back above that high. We remain massively undervalued.

[888icb] 06/4/2020 13:23

Gold is up to 1640 today and CNR has followed it with a nice rise UP 16% on just 11 trades and a volume of 94000. Trades now going through at 30p.

[888icb] 06/4/2020 10:05

Gold starting well this morning now up to 1640 but hasn’t moved CNR yet.

[888icb] 03/4/2020 13:30

Gold UP today currently 1619 but CNR continues to drift on low volume which today is 59000. Although buys out number sells 5/1 we are down 2% due to the 13% spread.

[888icb] 27/3/2020 18:24

3 decent buys of 30000+ this afternoon the last one at 28.5 failed to take us positive today and we closed 1.79% down at 27.5 on volume of 183000. Gold price fairly stable.

[888icb] 26/3/2020 14:47

Very quiet today with just 4 trades totalling 4300 volume. Gold is back around 1620 and the US is up 4% in early trade so let’s see what the afternoon brings. Not long to go if we are going to get news by the end of the month.

[888icb] 25/3/2020 17:24

On low volume but in Canada Condor is up 41% at 0.53 CAD which is equivalent to 31p

[2toptrader] 25/3/2020 16:09

Gold the place to be imo. Money printing presses in overdrive all over the world. This will only push gold higher and make loo roll more valuable than US dollars.

[888icb] 25/3/2020 14:54

Much quieter today with the share price unchanged on volume of 31000. The gold price dipped a little but is back above 1600 at 1613.

[888icb] 24/3/2020 17:25

We finished the day UP 14.2% at 28p on volume of 391000. The last trade of the day was a 50000 Buy at 29p which is encouraging for tomorrow’s opening. Gold while up over 1600 is well off it’s highs earlier in the day when it looked to be heading back to its recent highs of 1700.

[888icb] 24/3/2020 14:29

2top I think you are right that gold is coming back into fashion. Our Director and major shareholder Jim Mellon is certainly of that view along with a number of commentators. They are talking seriously higher like the move after the 2008 crisis. So this is just the start and each rise in the gold price adds considerable value now and profit when the mining starts.

[book5] 24/3/2020 13:49

hxxps://www.cnbcafrica.com/news/2020/03/23/breaking-nationwide-lockdown-announced-in-south-africa/

[2toptrader] 24/3/2020 13:25

888 - the gold started the move yest after the US Fed announced QE infinity, printing money like there's no tomorrow. This will only push the gold higher. I reckon the rise should be more sustainable this time after the gold sell off with the rest of the market during this corona mayhem. Gold coming back in fashion.

[888icb] 24/3/2020 13:03

It’s good to talk but I agree not many people on this bb and all the chat is on LSE bb.
Starting to move since noon as gold gets going again. Gold was up early on quite strongly then had a sharp dip but is now up 115 at 1666. CNR has moved on this second gold rise to 27p on volume of 204000. It will be interesting to see what the Dow does today as all Asian and European markets are showing good gains today so far.

[2toptrader] 24/3/2020 10:27

Back in here as well. The only way is up with gold.888 u still talking too much.

[888icb] 24/3/2020 08:31

A good start to the day as the market moves up. 2 buys so far both at 26p.

[888icb] 23/3/2020 18:07

Ended the day Up 6.5% at 24.5p on volume of 118000. The last trade of the day was a buy at 25p and gold has continued to rise and is currently 1558