Condor Gold Share Discussion Threads

[oldiegoldie] 20/7/2020 09:51

I do not believe gold will climb much above 2000 $/oz.
Why do I believe that?
Well, the big demand comes from central banks (China, FED, ECB) which have to back their currencies at a certain point to sustain trust. So they are mainly driving the price. In case they need more physical gold, why whould they pay 2000, 3000, 4000 $/oz for it, when they can dig it out of the ground for 600-1000 $/oz?
The AiSC of gold somewhat limits the gold price to "AISC + a convenience premium".
This makes a potential gold shortage even more interesting for miners and explorers

[888icb] 20/7/2020 09:34

Citicorp expects record gold price to be breached in the next 6 to 9 months. They give a 30% probability of gold breaching $2000 per oz in the next 3 to 5 months according to an article on Bloomberg.

[forearmed] 15/7/2020 12:42

Thank you book5. I'm not sure it would have occurred to the company but maybe Mark Childs will see this exchange and follow up. I agree it certainly makes perfect sense.

[forearmed] 15/7/2020 12:06

book5 as a matter of interest, although I think it is potentially a very good idea to tie in the locals to the mine's success, is the idea of local landowners becoming shareholders actually being suggested there, on the ground? Or is it simply something that has been suggested here on this bb?

[book5] 15/7/2020 12:02

All good
Quietness on the local news channel
Negotiations proguessing
Hopefully rest of land oweners become shareholders, so their interests line up with ours.
I believe we will see some fire works by end of summer.

[888icb] 15/7/2020 11:51

That recent Director purchase by Jim Mellon our largest shareholder Was a clear signal as to where this is going. In conjunction with his frequent bullish comments on where the gold price is going, you couldn’t get a Stronger buy signal. Hopefully the market is starting to take notice with 50 trades so far for a volume of 575000 with Buys outnumbering Sells 5:1.

[observer007] 15/7/2020 09:34

I still think Condor remains under most folks radar, potentially offers the best upside in the sector given the current undervaluation compared to peers.

It does look like the recent placing/warrant indigestion has been absorbed, if so the share price should soon reflect a value more consistent with related companies, the discount is higher than 50% in some cases.

News would assist the situation but the recent director purchase of £150k of stock in the open market tells you all you need to know.

The most recent broker coverage offered a target price of £1.02p.

[888icb] 15/7/2020 09:32

In the absence of news the activity in the market is the only think to watch. Looking to see this move firmly into the 40’s on good volume.

[mikeh30] 15/7/2020 09:23

Out of interest why the running commentary on volume and trades?

[888icb] 15/7/2020 09:20

Volume now 408000 and the buys are rolling in at 42.499.

[888icb] 15/7/2020 09:05

A good start Up 5% on volume of 350000. Gold moving up currently 1812.
30 trades all buys except one Sell of 12500 shares.

[pauliewonder] 15/7/2020 09:03

An interesting flurry of buys just gone through. Wonder what the trigger was

[1airbag] 13/7/2020 20:17

Mellon only buys stuff like this to get 10 to 1000 times his original investment.

[observer007] 13/7/2020 12:24

Have bought in today having completed due diligence over the weekend, I do like the CEO who seems a very genuine and focussed individual.

As pointed out by others, the board have significant skin in the game, Jim Mellon recently bought 400,000 shares, he nearly has 19m shares in all from 117m in issue.

I think Condor has been under most folks radar as other more 'prominent' gold plays have offered more excitement but some look well valued until gold moves higher still.

Condor offers great value and there appears to be a news rich period coming up.

That recent broker target of £1 seems very attainable.

[888icb] 13/7/2020 09:42

The market cap according to ADVFN and LSE is £50 million. Which is still very cheap!

[silverspoon2009] 13/7/2020 09:38

To show the extent of the undervaluation - Condor had a market cap of £52m in 2016, here we are in 2020 with the potential of near term revenue via toll mining, a proven 2.5m ounce resource plus a gold price of $1800oz and the company only has a enterprise value of £43m ??

Cheap !

[888icb] 13/7/2020 09:35

A small trade has just gone through at 44p so perhaps another tick up is imminent.

[888icb] 13/7/2020 09:25

A positive start to the week with the first tick up 1.2% on volume of 172000 all buys.

[silverspoon2009] 13/7/2020 08:26

What I like about this is management has significant skin in the game, Mellon and Child hold over 20% of the equity and have always supported the rare cash raisings.

Very small free float, only 117m in issue and those are, in the main, tightly held.

This could easily double in price in a flash, if the toll mining goes ahead (as some imply) it will rocket.

A great entry point.

[sir andrew ffoulkes] 13/7/2020 08:23

I bought essentially as a punt on El Salvador but remained when Nicaragua came along. I have become more and more convinced as the years progress. Never fall in love with a share they say, I have with CNR.

[the_debt_collector] 13/7/2020 08:07

Looks like a good week ahead here, 60p+ is easily attainable short term IMO.

Condor as shown as a 'STRONG BUY' with Barchart, they are pretty good also.

[oldiegoldie] 13/7/2020 07:44

In LSE BB there is an interesting discussion why the "early birds" invested into CNR many years ago.
Being one of those early birds ( but still not registered at LSE BB :-)) I can answer for my part that the historic geographic data (old mining sites, but especially the sovjet drilling results) in combination with a "gut feeling" on Mark as a manager was my trigger to put my coins in Condor.
We should not forget that El Salvador project had hard times and many early birds gave up underway. I didn't give up basically because I was convinced by the sovjet data on Nicaragua projects, which proves to be a good decision.
Who knows, maybe El Salvador project is relaunched at a later stage? Times & politics are changing and countries need money. As far as I know we could restart El Salvador if permitted.
Anyway, for the moment focus on La India and get a 100000 oz/yr production going would be my expectation for 2021

[book5] 12/7/2020 23:47

A family with 30 manzanas (20 hectares) is considering selling soon bcs cnr is offering decent money to them.
One of my contacts likes the idea that land owners are paid in a combination of cash and shares. He said, it should help to convince the last landowners to sell. Some of land owners may request this.
No sure how it could be done, may be cnr could hold the shares and issue share certificates? . But if accepted it should bring loyal - long term shareholders. To be fair, this should be a similar option when raising cash in the open market to Mms.

Gla