Condor Gold Share Discussion Threads

[morrgan] 13/5/2020 09:27

Excellent.
Thanks bomber13.

[bomber13] 13/5/2020 07:59

Divmad - if you are referring to me , I don't know Kefi Minerals at all , nor have I ever waxed eloquently about the company .

Morrgan - please see RNS below -

[divmad] 13/5/2020 05:41

Didn't I see you waxing eloquently about Kefi a while back?

[morrgan] 12/5/2020 21:15

Hi bomber13,
What do you mean when you said "awaiting Ministry approval"can you expand on this a bit more...and What Ministry?
And how do you know it is due at the end of May?

Thanks.

[book5] 12/5/2020 09:45

Bomber
reassuring cash projection
Thanks

[bomber13] 12/5/2020 09:32

According to the cash flow statement , net cash outflow Q1 was £1.2m , including £337/- of tangible fixed asset purchase , presumably freehold land , to leave net cash at end of quarter of £1.7m or US$2.1m .

Net cash going forward will include US$500/- due from the sale of the Potrerillos concession to Mako Mining , and still awaiting Ministry approval by end May , and , hopefully , at least £841/- or US$1m from accelerated warrant exercise , providing the share price closes above 30p by tomorrow night .

So pro-forma net cash should be in the region of US$3.6m at end of May before deduction of April / May expenses .

[888icb] 12/5/2020 09:32

Nothing new or that we didn’t know already in the 3 month results this morning. We are currently down 3.4% on volume of 120000 so fairly quiet at the moment.

[bahamasoil] 12/5/2020 08:28

Outgoings will be dependent upon land procurement.

[thebird1] 12/5/2020 08:18

Don’t know if ever read these right as I’m not experienced but, to me looks like a spend of 1.4milliom a quarter which leaves us with approx £700-£800k in the bank.

I must have this wrong? Or do we need cash ASAP as we will run out mid to end of June?

Hopefully I read it wrong.

[book5] 12/5/2020 07:13

Results rns

Probably Nothing new in it?

[book5] 11/5/2020 15:48

Need a boost towards £1 to confirm Insiders see profits for years to come

[888icb] 11/5/2020 13:12

After 5 hours trading we have settled up 4.8% at 44p on volume of 500000. It is worth having a look at Mako Mining Corp being highlighted on the other bb which has many similarities to CNR it’s also in Nicaragua but has a much higher market cap. It points the way for CNR to move towards 1.20 1.30p.

[oldiegoldie] 11/5/2020 09:47

This is always the same story - there are traders and investors - and when you buy, the lower is the better 👍 I love traders throwing their stocks for a bargain 🤫

[book5] 11/5/2020 09:11

Investors, or Rather Insiders knowiNg what is coming?
Pick ur choice

[888icb] 11/5/2020 09:00

It is always a possibility but investors seem to have realised how undervalued Condor is and that it has a long way to go to achieve fair value against its peers.

[pugugly] 11/5/2020 08:41

Could well see a pull back as those who bought below 20p take 100% plus profit - Tempting - Bird in hand etc""

[888icb] 11/5/2020 08:33

It’s rising 1p every ten minutes as we complete 30 minutes trading.

[888icb] 11/5/2020 08:23

Good start UP 4.8% on volume of 65000. Gold currently 1705.

[book5] 11/5/2020 08:19

Here we go
Insiders buying??
Plant at Agua Fria in the pipeline?

[book5] 10/5/2020 23:31

It should help gold to go up, and locals to sell land.

Monday Usa to discuss new $ billions programme to support fight against coronovirus.

Locals believe if company can't buy land, they will tunnel Instead. So there is less resistance to sell the land and get some benefit that otherwise they may loose. They are strong artesanal miners, know about tunneling, so their believe....apparently cnr is reinforcing this "fact !? " in their negotiations.

[888icb] 10/5/2020 22:57

Not entirely sure what relevance Covid 19 in Mexico has to Condor.

[oldiegoldie] 09/5/2020 11:37

888icb, of course you are fully right and I was expanding a scenario where we go to production without major problems. Compared with the early days I think political risks are vastly reduced (one could even go so far and say nicaraguan politics are currently in our favour), but of course technical and financial risks remain.
The bandwidth of possible valuation is broad, but even under most conservative explorer valuation standards there is a clear gap.
What I wanted to emphasise in my previous posting was that for me, being a long term investor in this company, selling now or in the near future at an "explorer-like" valuation of 2-6 £ is less attractive than continuing on our own means towards production and achieving a "producer" valuation in a few years from now, being around the value/share I mentioned earlier

[book5] 09/5/2020 11:04

Bomber
Yes, agree with the early explotation of the two smaller pits
Then, we will have plenty of cash to buy all land at the India and other concessions
£1 soon? I believe so

[bomber13] 09/5/2020 09:35

It has been a tremendous few weeks for Condor , and at a share price of 42p , the market cap is US$50m , net cash is a pro-forma US$4m assuming imminent early exercise of warrants , and both environmental permits for the high grade feeder pits at America and Mestiza are in the bag , which , added to the main La India permit , makes a total of 1.1m oz of gold resource permitted for extraction by open pit mining . That figure is just under half of Condor’s total independently validated 2.5m oz resource , and in a district which is confidently expected to host over 5m oz of gold . Hence , once the balance of freehold land is bought ( Condor now owns up to 70% of the land ) , and the engineering / mining studies have been completed , the project will be oven ready for construction by Q4 2020 .

Condor has steered us via RNS’s and presentations as to how the project might play out in terms of timing , financing and structure , and we are promised a more definitive statement within 2 months . Initially , the most likely strategy will be a high grading of the project via the 2 high grade feeder pits and part of the La India pit for an annual production of around 50/- oz pa for 5 years , which would in turn pay for the subsequent expansion of the entire La India open pit to 120/- oz pa of production .

Whether a toll deal with ANOther , probably/definitely Calibre Mining , will form part of the initial mining process remains to be seen , but Condor’s other options are buying a new 1000 tonnes per day plant from China for , say , US$40m with the scope to expand capacity when required , or buying a second-hand larger plant for the same sort of money , and reassembling it on site . Such expenditure is likely to be funded 30% by equity and 70% by project finance , and take 12 to 18 months to build . Condor is fortunate in having 2 billionaires amongst its top shareholders , and , according to Mark Child in the latest webinar , its largest shareholder with 15% , Jim Mellon , has indirectly indicated his wish to increase his stake .............and you can see why .

In early March , Condor released details of the high grade open pit mining scenario compiled by SRK Consulting , and in these mining dilution studies , SRK came up with a total of 1.6m tonnes of ore from the 3 areas at a head grade of 4.65g/t for 245/- oz of contained gold . No cost modelling was released to the market at the time , but we know from subsequent presentations by Mark Child that the total cost per tonne of ore in a 1000 tpd plant including all mining , processing and S G & A expenditure is expected to be around US$55 with gold recoveries in the 92% region . Given those metrics , the cost per oz produced would be around $323 at Mestiza , $485 at America and $433 at La India's mini pits , giving an unweighted average of $414 per oz .


As a result , if you take the current gold price of US$1700 and the unweighted average cost per oz of $414 , the margin would be around US$1300 per oz and the EBITDA US$65m in a full year of production . Moreover , there would be no tax to pay until all capital expenditure is recovered . On that basis , might Condor not recoup the entire capital spending on the plant within its first full year of production ?


Time for the Condor to soar ?