Condor Gold Share Discussion Threads

[oldiegoldie] 28/5/2020 11:52

Well a 16% haircut is not what I would consider massive dilution.
We need some money and thats how you raise it.
The placement was announced for weeks (or even months) beforehand, so everybody knew and it was discussed here in the forum.
I am investend since the beginning and I am certainly not losing any confidence (rather gaining)

[pugugly] 28/5/2020 11:43

Assuming Advfn alogro allocating sell/buys correctly appears many investors have lost confidence in management and bailing out 1.624M shares bought -v- 2.312M sold as at time of posting.

Cannot blame them - Dilution - dilution - dilution at such a significant discount after having been ramped up - Remember the share price Angel target price - Should have guessed a placing was under consideration

[book5] 28/5/2020 11:40

Canada becoming a more important stock exchange for us

[book5] 28/5/2020 11:38

One of them probably bought more than 3% to 5%. so, some rns pending in that front too.?

[888icb] 28/5/2020 11:20

Gold is having a good day today up 18 to 1728. Condor is in a much stronger position than it was yesterday with that extra £6.6 million in the bank and more to come once we get back to 55p. I think that institutional investors buying in will really put us on the map.

[1airbag] 28/5/2020 11:07

I bought more this morning at around 40p. 2 days ago this was trading at 60p. Buy the dips.

[divmad] 28/5/2020 11:02

The way the share price came crashing down yesterday was probably one of the more blatant insider selling actions on AIM in many a moon. But will anything be done about it? It must be a simple matter for the FCA to analyse sells above a certain size by owner and tally with placees.

[888icb] 28/5/2020 10:33

After 2.5 hours trading the volume is 3.1 million. We have recovered from the initial 38p to 43.5p which is 11% down from yesterday’s close. The buying is strong at the moment and it would not be surprising to see this blue by the end of the day. Bearing in mind how undervalued we all believe Condor to be today’s dilution is a drop in the ocean which is easily absorbed.

[book5] 28/5/2020 10:23

A bit of greed to be honest.
But Imho all good noises for the share price keep
climbing for years to come

[888icb] 28/5/2020 10:19

If institutional investors are coming in on the placing that is a positive sign. It is always possible that the directors suspect a bid and want to be sure they have their extra shares before that happens!

[oldiegoldie] 28/5/2020 10:15

True @888ICB, and I have to say that taking into account the stock price evolution over the last weeks with traders jumping on, I think 36,5p is actually not that bad. Each of us could buy shares this morning at 38,5 so where is the problem.
Management took around 2,xM and other private investors around 16M.
These guys just funded our next land purchases and production plant - lets not forget that. I am thankful and my average buy-in price is (far) below 36,5

[zangdook] 28/5/2020 10:13

at the moment investors can buy shares at a similar price to the placing shares

I'm not sure that's true, to say nothing of the warrants. But anyway, a large proportion of the company has been sold off cheap, and the price I could buy shares for today isn't really relevant to that. It isn't possible for everyone to recover their previous stake by buying more

[book5] 28/5/2020 10:08

888
Ok, agree too

[888icb] 28/5/2020 10:04

When making comments about directors getting cheap shares one should bear in mind the history of this company and how much people such as Jim Mellon have invested at much higher prices over the years to keep the lights on. As an example I just quickly found a placing in 2014 when he paid 90p per share. Directors like Jim and other investors need a much higher share price just to break even. They have shown continuing support for the company and at the moment investors can buy shares at a similar price to the placing shares if they want to do you can get the same deal as the directors but it won’t last long.

[pugugly] 28/5/2020 10:02

OldieGoldie:> Might they be wise old birds??

[oldiegoldie] 28/5/2020 09:14

Three directors beside JM and MC only own around 100k each. Bit weak IMHO

[book5] 28/5/2020 09:10

All a plan to get cheap shares for directors
Up we go

If they would have made public proguess in land purchases they could not have bought shares so cheap

[liberatingsteptoe] 28/5/2020 09:09

That it was "oversubscribed" tells you a lot.
Fair enough if it had been around the mid 40s but 36.5p is a bit rich.......at least for some when they come to sell!
Ls

[book5] 28/5/2020 09:07

888
I agre
But No explation on last week rise
Suggest to me the are using Insider I formation

[888icb] 28/5/2020 09:00

We still don’t know about the accelerated warrants. Are the likes of Jim Mellon going to let them lapse and Just buy shares at the higher price of the placing or will they buy the shares at 25p as well. Similar arrangement under this placing so more shares can be accelerated at 40p once the share price exceeds 55p for 10 consecutive days. It should not take long to get back above 55p.

[scott1967] 28/5/2020 08:49

Good lesson in greed from directors bought in yesterday on gold price weakness 18% haircut today share was being tipped by Jim previously. Party time for directors.

[book5] 28/5/2020 08:47

Disappointed about not selling ore from mestiza to finance this

[888icb] 28/5/2020 08:46

We knew more money was required and that equity would play a part in that. We are clearly going for production ASAP which should enhance our value and assist us to get valued on a par with our peers. The discount is a little disappointing but we haven’t been at 60p for very long so when this was being planned the share price would have been lower. This is good news showing confidence from the Directors and it was oversubscribed by the other new investors which may well include existing shareholders.

[1airbag] 28/5/2020 08:40

Yes it will upset many people. All seemed to be going well and then the insiders gorge themselves on cheap shares. Pretty rough on those who have stuck with this one through thick and thin. It is a shame as it erodes trust.

[liberatingsteptoe] 28/5/2020 08:36

Last year's placing was at a "small premium to the 30 day weighted average"; this one at "a 17.6% discount to the 20 day weighted average". I'm not even going to compare the price of gold from then to now. I am not impressed/happy.
Ls