Condor Gold Share Discussion Threads

[book5] 14/5/2020 06:43

Small two pits justify current valuation and therefore the warrant conversion.
Small leap of faith: they should start mining them, this will bring the necessary cash to improve offers to acquire the rest of the land at the India main pit.
News soon expected: warrant conversion, purchase crashing plant, tool mining

[888icb] 13/5/2020 23:57

Randy Martin who controls Nicaragua Milling has a history with gold companies. Taking a 10% stake last year it makes you wonder what his game plan is. Might he look to make a bid? As you say it will be interesting if he exercises all his warrants at this time. Jim Mellon is a long term supporter and very keen on gold so I think he may well take them all up now.
Interesting times. It would be good to get a bid to draw attention to us even if the first one doesn’t succeed.

[bomber13] 13/5/2020 20:05

Condor's equity placing at 20p per share on 8th July last year brought in £4m gross , of which Jim Mellon accounted for £1.25m to become a 14.9% shareholder , and Nicaragua Milling accounted for £1.97m to become a brand new 10.4% shareholder . These two subscriptions represented 80% of the placing , and , without their support , Condor would have struggled . Soon after , it was no surprise to learn that Numis had been replaced by share price Angel as Condor's broker .

With the Condor share price having closed above 30p for 10 consecutive days now , 50% of the warrants issued in that placing will now be subject to an accelerated exercise at 25p , amounting to the equivalent of 3.365m new shares or £841/- . What will be very interesting to watch is whether Jim Mellon , a non-executive director , and Condor's largest shareholder , and possibly Nicaragua Milling , Condor's second largest shareholder , both decide to exercise ALL their warrants at this time , thereby giving Condor extra cash to help oil the wheels towards mine development ?

They will be aware , as we all are , that Condor is grossly undervalued , and the last thing they would want is for a cheeky bid to have a chance of success .

[888icb] 13/5/2020 12:35

The buying has continued including a recent 10000 at 42p. We are now down just 2.4% (1p) on volume of 199000. Perhaps we can even go blue this afternoon. I think this is day 10 of the share price being above 30p allowing the company to trigger the accelerated warrants and thus secure additional funds. The plan is proceeding well and there is always the possibility of a toll mining deal or an offer being sprung on us at anytime so it’s important to be holding to push the share price ever higher.

[book5] 13/5/2020 12:31

Conversion of warrants will be positive for share price as shows confidence

[888icb] 13/5/2020 11:43

Only buys in the last hour with 40p being paid so perhaps a move up again soon.

[888icb] 13/5/2020 10:42

The market is poor this morning but disappointing to see Condor down 7% after 22 trades totalling volume of just 125000. Let’s see if sentiment improves as the day progresses as we really don’t want to leave the 40’s unless it’s for the 50’s.

[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.