Condor Gold Share Discussion Threads

[shiftb] 29/10/2020 07:59

Thanks book5

[book5] 29/10/2020 07:52

Every 5 years.

[shiftb] 29/10/2020 07:42

book5, do you know how long a typical government term is in this country or more to the point the frequency of General Elections?

[book5] 28/10/2020 23:15

Fair points, but we need to react to changing situation in the ground: last land purchases have been delayed, pressure to protect miners rights on the national news chanel, and possible change of goverment in 12 months.
So, This is going to be: built small first (possibly second hand plant) , low dilution, keep adding plant and resources in years to come, avoid courts, low risk, long road to richness . This could suit many, including JM, and other major shareholders that are not selling.
Past is past.
some + news should be coming soon.
Gla

[goldenshread] 28/10/2020 22:29

Why should long suffering shareholders accept any more dilution when Mark Child said a toll mining deal would provide enough cash to build the mine to first production.

The mining licence awards in May and surge in the share price to 63p was only because of the possibility of early production, instead of pursuing this avenue Child talked of a boardroom disagreement and then subsequently raised cash at a miserable 36p with warrants at 40p.

The question is who is pulling the boardroom strings at Condor, is it Mellon, a man who has been buying big but cheaply, maybe he is in no hurry for share price upside, if so this is detrimental to other stakeholders, maybe Randy had enough ?

The boardroom disagreements Mark Child talked about have not been discussed on the chat boards but these 'disputes' could account for the woeful share price performance.

Is Mark Child a proxy for Jim Mellon's wishes therefore, the 'soft' media interviews via Proactive and other outlets do not have the same 'force' as when Mr Child was verbally 'attacked' by a group of somewhat inebriated shareholders a few years ago at a live event in Mayfair where his 'promises' and poor share price performance were questioned.

He completed his presentation and departed swiftly, like the proverbial bat out of hell, no time for drinks and canapés with the many investors who may have liked a chat, not on your nelly.

I think a bid is the only way shareholders are going to see any material share price upside in the near term, that £1.40p broker target is fantasy under the current business model, production another 12 months etc.

[book5] 28/10/2020 21:48

all locals I speak with are telling me, that with this government, the mine will go ahead. Question are, in what form, and with how much dilution.

[dexdringle] 28/10/2020 21:45

I like a bit of optimism as much as the next bloke - but with CNR I think it would be just as well ultimately to be prepared for very significant disappointment.....

[book5] 28/10/2020 19:50

I did not look much the share price today bcs I am very CALM holding CNR… IMHO the mine is going ahead, with second hand plant and little dilution.

I believe MC is doing a good job now, and that for CNR the correct strategy is going ahead, with a second hand plant, and plan with the land we own now.

Government wanted 120-170K per year, but the government knows about the situation in the ground (people could revolt) and the national news videos (political minefield) . Mark knows that If the government changes, next one may not be so amicable to us, so it is preferable if land is bought of mutual agreement.

These national news videos have opened for us and immense opportunity bcs now the government would probably accept a lower production, say 50K per year, for the short term. This in terms allows us go back to our prefer option: a second hand plant, low dilution. An then, add more plant to increase production further.

We could start mining from the open pits of Mestiza and America where we own all the land and have the best grades. We should be able to start limited pits on la India, and some tunnels too (locals have never opposed that we tunnel under the main India pit).

In 2 to 5 years the locals and CNR's perceptions will change. CNR will be more confident on its resources in the ground (it is easier to make deals with locals when you know your resources are plentiful), also locals will see there are good jobs around. So, I believe we will have a deal to buy the rest of the land, and that this will not affect us negatively even it is delay up to two years.

In regards to be a gentlemen, I am glad he is, we need to be EXTREMELY sensitive with people jobs. Hundreds of artisanal miners have been labouring for their bread and butter at those mines for GENERATIONS!! and they know that after we go, there WILL NOT BE ANYTHING LEFT, or very little left, for their children and grandchildren. It was Condor’s decision to drill on land that was the bread and butter for all those people! We worry about our savings, they do about the bread and butter for their loves ones. It seems CNR is not too greedy, but realistic, and thinks on all the stakeholders, well done, the long term safety of my investment depends on it. There is plenty of richness for all, government, miners and shareholders. I am aware we need to build a long term business spanning through different governments.

IMHO we have been very lucky so far, first the political turmoil and Covid has helped us to buy majority of land, now the videos may allow us to go for small second hand plant as the government agrees with it. So, things are playing into our hands, threads have opened new opportunities for us. Glass is definitely half full....it will be full in the mid term future.

Next news should be the confirmation that we have bought a second hand-plant from Guatemala, and then the financing details to bring the mine into production.

I may be wrong in all I have said above, but it is as I see it.

GLA

[dexdringle] 28/10/2020 19:32

I'd take 70p all day long. I've had just about enough 'jam tomorrow' here to last me a lifetime....

[sir andrew ffoulkes] 28/10/2020 19:19

....not sure I'd take 70p OG but it'd still see me in profit, so even that might tempt me, but only because I'm just p*ssed at the action the last couple of days.

[888icb] 28/10/2020 18:34

Today was a very bad day for global markets and also for gold as investors ran for cover. So down 4.8% on volume of 670000 is not too bad when you look at other shares. Let’s hope for calmer markets tomorrow and a firm move back above 40p.

[connect5] 28/10/2020 17:47

After such a long time in here these prices would be crushing, not worth the time wasted and stress induced!

[oldiegoldie] 28/10/2020 17:28

I'm in for 14 years (anyone remembers that Guns N Roses song?).
I would take a bid for 0,70 and say goodbye without hesitation. I always appreciated MC as a gentleman, buy maybe he is a bit too gentle for mining.

[sir andrew ffoulkes] 28/10/2020 17:14

I don't disagree with your thought process but we are unlikely to ever be offered more than 30-50% above the 3m average share price. I doubt very much that will be sufficient to swing the majority of long termers here who own the vast majority of the shares. That said, as a 12 year man, right now (today as I'm p*ssed off) I'd take a quid.

[goldenshread] 28/10/2020 15:47

Unless Mark Child excites the market somehow it's nigh certain he will lose control of Condor via a bid, Mellon and Child may have 19% but that is not enough equity to prevent a realistic cash offer at a fair premium.

I bet most long suffering retail shareholders would happily take £1 a share right now, basically an investment in Condor has been dead money for far too long, peer gold companies are multi-bagging.

Still 12 months from meaningful production, assuming no delays, not a word about toll mining which is disappointing.

Potential suitors must be licking their lips at the chronic market valuation.

[diggybee] 28/10/2020 13:44

She has joined the cult too then.

[book5] 27/10/2020 22:02

Sorry I meant MC

[oldiegoldie] 27/10/2020 21:55

Tend to agree with Goldenshread. Things did not work out as fast as planned, mainly due to land purchase delays. We need a second (longer) breath and some inertia through joined efforts e.g. with Calibre.
Probably Calibre will pull off the better deal but thats life

[dexdringle] 27/10/2020 21:30

Goldenshread is right. Child has had long enough. A bid is now our best hope.

[sherwood58] 27/10/2020 21:21

Book5 what do you mean by CS is in Nicaragua?

[book5] 27/10/2020 20:16

Agree, the market wants to know the financing mix we go for.

[goldenshread] 27/10/2020 20:11

Why should the market raise the share price when it knows dilution is down the line, the market needs to be wooed to re-rate, when the mining licences were awarded in May the shares surged because the market expected a toll mining deal, Child played on this with hints and suggestions but never delivered.

As for Child not wanting to dilute to effect his personal holding not so, he simply awards warrants or options to make up.

As ever it is retail equity holders that suffer when a placing number comes out.

The market wants toll mining plain and simple, if it does not come expect a stagnant share price.

Best outcome for shareholder would be a bid.

[book5] 27/10/2020 20:08

888
Well said.
It is a confirmed now, MC is in Nicaragua.
Imho he is looking for not only for our interests, but for those of all the stakeholders. Quite difficult balancing job.