Condor Gold Share Discussion Threads

[bikwik] 17/2/2021 12:13

free stock charts from uk.advfn.com

[bikwik] 17/2/2021 12:12

I wanted to follow up on the chart situation as I see it. I posted my original charts and comments on the 4th to 5th Feb. Posts no's 4676/4678 and 4709.

That called for a rise to at least 60p.

Well as you all know we got to 50p, then pulled back to a low of 44p by yesterday ahead of recovering quite quickly some of that to now sit at 46p (mid price).

Obviously the placing at 42p was responsible for that drop and looking at the chart there was a bit of a leak in the couple of days before. No matter, I think we've seen the worst of the reaction to the placing and while we may have to see a bit of 'fiddling' around these levels, the upside potential and likelihood of that is clear.

I have posted a longer chart so you can see the even larger triangle pattern that has formed....labelled A-B-C-D-E. This projects a target to 78.5p. It may go more than this, but likely not less. I could be wrong, no ones perfect(apart from Jessica Biel...but she's married to Justin Timberlake...damn!)

Also, I have posted an explanation of triangles and you should see that CNR's triangle conforms to the requirements. Now we just have to wait!

[diggybee] 17/2/2021 12:12

X marks the spot. Treasure lies here?

[septblues] 17/2/2021 11:54

a map would help

[davidspringbank] 16/2/2021 19:09

Excellent news.

"The placement proceeds will be used to complete engineering and other technical studies, purchase the remaining 5% of the land in and around the minesite infrastructure, place a deposit on a processing plant, finance a 4,000m infill drilling program currently underway with two drill rigs within the high grade starter pits within the permitted la India open pit. The extra cash also allows Condor to continue with exploration activity aimed at demonstrating the potential for a 5 million oz Gold District at La India Project: the Company will commence a 5,000m drilling program on the Cacao vein in the near future."

[sir andrew ffoulkes] 16/2/2021 17:31

I have no doubt whatsoever that land will be sorted soon enough, in all probability the issue will be resolved with the assistance of government and relatively soon. Our man with sources on the ground, book5, seems to see it as a more difficult prospect, I don't agree with him. Correct me if I misinterpret what you are saying book5!

Further 5000m drilling for resource at Cacao is a good idea pending assay details from infill work recently.

My guess would be that a plant will be secured soon, we are in a very strong cash position now to move this aspect forward.

The will we/won't we toll produce now seems more like a won't we but who knows!
As has been pointed out, Mako have raised without issue for San Albino, I suspect we will encounter little difficulty raising money when the time arises, even the same people are a possibility.

[bomber13] 16/2/2021 14:12

True to his word , Mark Child is putting his foot on the accelerator pedal with this fundraising today .

The £4m raised at 42p has nil dilution from warrants , it is costing £8204 to arrange compared to the 3% charge in the £6.6m May 2020 placing , and 51% of the new equity is being taken up by directors of the company .

The proceeds will be used for finishing the task of de-risking the La India project , to which end Mark Child will have £8m of net cash at his disposal . The statement definitively declares that the remaining 5% of surface rights will be purchased , all remaining development studies will be finished , a plant decision will be made , and both in-fill and exploration drilling will be expedited . There is no mention of appointing a full time COO or indeed a Chief Executive , but these matters may also be dealt with shortly .

With gold at US$1800 , and the majors/medium-sized producers throwing off bags of excess cash , taking the decision to drill out Cacao , which has long been thought to contain between 500/-oz and 1m oz , and move as much of La India's resource as possible into the measured and indicated category is the right one . We do not want to be bought out cheaply , and Jim Mellon going to a pro-forma 19.2% of Condor today speaks volumes for his intent .

Take-off , or takeover , that is the million dollar question ?

[888icb] 16/2/2021 12:57

Very quiet after this mornings placing with volume of just 105000. Now down just 2% as buys have exceeded sells 2/1. Plenty of cash in the bank to move forward with confidence and can’t be taken out with a low bid because bidders think they need cash to carry on.
I think a bid is highly likely at anytime and particularly when the land is 100% owned and perhaps that’s what some of this cash will be used to achieve.

[zangdook] 16/2/2021 09:55

42p. The Placement was oversubscribed. That's what you get for following Mellon around.

[book5] 16/2/2021 09:44

Land is key
Miners want la mestiza or Nance Dulce.
With cash my guess is we could buy rest of land at Nance Dulce and compensate miners , anything btw 2 to 4 million would be enough to follow this route.

Other route would be to give away la mestiza and probe new resources at cacao. We may need another 6 to 8 months more to drill and analyse results.

Some miners are leaving cnr land soon as their notice period is expiring . Could we still have a toll mining agreement? In recent presentation MC pin pointed and area for early mining from the main vein, if I remember correctly this area was highlighted in red colour on a map .Time permiting I will try to check if that area is the one from were miners are leaving soon. Would we need to improve a road intersection in order to toll mine? If there are road works soon it would be an early indication we could have a toll mining agreement.

[888icb] 16/2/2021 09:25

The intention to focus on proving 5 million oz of Gold keeps the for sale sign up and makes a bid ever more likely as the items towards production are ticked off. Could happen any day.

[book5] 16/2/2021 09:04

Those who left worried about the prospect of new fund rasing should buy back soon

[888icb] 16/2/2021 08:53

A very good fund raise with Jim Mellon and the other Directors showing full confidence in the project. Organised by the Company at a cost of just £8000 and ensuring the shares are going to people of their choosing largely existing shareholders so one would not expect them to be sold and no warrants.
A very good start to the day to sort this extra funding and I would expect to see the share price back above 50p on this news and the intention to prove 5 million ounces with extra drilling.

[oldiegoldie] 16/2/2021 08:25

Yes, this funding will probably be used to close some "issues".
Such a great achievement, really a good start 🛫 in the day

[mikeh30] 16/2/2021 08:13

I'll translate - "yes, land purchases can be completed and holy moly there's a lot of gold. Probably need a couple of mill for this. What that Jim? You'll stump up the lot because you know what we know?, sure no problems. Anyone else want in before we release news?"

[oldiegoldie] 16/2/2021 08:00

Very good news indeed!

[pugugly] 16/2/2021 07:26

New fund raising at 42p -

Should go a long way to getting us pouring gold and a not too much of a discount and NO DILUTIVE warrants -

[book5] 16/2/2021 07:26

Goid rns
£4 million raised at 42p, no warrants, good demand for shares
Total cash in banks 8million

5000m drilling at cacao soon.
We should go up today

we should have more news soon

Hopefully shovel ready by May?

[book5] 13/2/2021 13:25

Hi All
My main contacts says:
- Rodio has recently won a contract for lots of drilling on Cacao.
- Rodio has subcontracted this job to another company named probably Kluane (my contact names it phoneticaly in Spanish as cloani) , they are in Condor offices right now.
_at Cacao, rig mats (compacting land) are being prepared in advance the arrival of one drilling rig.
-new drilling rig is expected to arrive to Cacao very soon.
-many of the miners who previously were working at La India and El Llano are working now on Cacao, it is obvious that there is gold in many places.
-i understand goverment owns land at that zone.

Another contact says there was talk of bringing a small drilling rig to Cacao, ie perhaps max depth targeted is 35m?

I hope CNR is trying to find land for the miners at Cacao; however my main contact believes the drilling is to increase CNR reserves and no to find new land for miners.

Hopefully we have a rns confirming the above soon.
MC said Cnr expects to find 500k oz at Cacao

Company is proguessing with works at La India. I do not have new news on land to report.

Imho CNR shows confidence, next week should be interesting.

All ok.

[888icb] 12/2/2021 01:54

The volume was 427000 after late reported large buys from 1pm of 100000 & 142000 both at 49p. So surprised to close down 4%

[oldiegoldie] 11/2/2021 17:35

Edit: Sorry but these "News" are rubbish. Its just about what we want to do, not what we are doing

[diggybee] 11/2/2021 11:53

That came out wrong too. Apologies long a few. Love all etc. To them moon condor. As it were.