Condor Gold Share Discussion Threads

[connect5] 25/2/2021 13:58

I don't want to rain on your parade '8881CB', but I'm sure by now every man and his dog knows about what we 'potentially' have. Unfortunately, this hasn't translated to a bun fight for the company! Posters such as tester123, campbells et al have frequently posted the positives here, however as we should all be are there is no such thing as a 'dead cert' pertaining to potential suitors. I'm still here and suffering along with numerous LTH's after a decade plus, with a fairly chunky investment for me and I wouldn't still be here if it wasn't for confidence/blind faith, whatever you'd like to call it. However to still be under having spent £KKK's to average down, it's galling to be in the red after a decade! I'm not going to finger point at anyone and look for someone else to blame for my investment decision, I truly made my own bed and well you know the rest! I just felt it was important to consider the what if it doesn't happen scenario as mentioned by 'seemore' yesterday. There is the tendency for these BB's to become very pro and people who offer valid alternate opinions, which may go against the narrative are often shut down. We're all here for the same reasons the betterment of our families and lives at the end of the day, but it's good to take the blinkers off once in a while me thinks. Anyway ATB & GLA as always!

[888icb] 25/2/2021 13:12

Tester on LSE on Monday posted an interesting summary about the Shop Window and why CNR will be very attractive to large Gold companies:

Awax - good to read the Cacao report and watch the video from Warren Pratt again.. 500koz - 1Moz of gold they estimate in Cacao prospect alone, 4km strike length towards Santa Barbara.. all sounds great... :-)

And then you realise that this is only a 5000m drill campaign and there is another 15,000m that can be done to add more ounces by just drilling La India along strike and down dip where they already know there is high gold grades.. from the current resource of 2.4Moz, you could increase that to 3-3.5Moz easily just from that.. again, sounds even better.. :-D

And then you realise that even after Condor drilled those vein systems, they would still only have explored less than 10% (!!!) of their land concession package of 580 sq km.. they still have many other vein systems to drill that they know of locally and have returned samples of 50g/t + gold grades... thats why i think they realise (JM certainly does) that this is likely to be a 5Moz-10Moz district when all is said and done.. Dont get me wrong, that will take about 5 years to fully define.. but in the meantime if CNR can start producing gold at 120koz in 2 years, quickly bring in the underground at La India for another 50koz.. thats 170koz per year from "only" 2.4M oz of their resources.. lets say there is 7.5Moz in the district.. you could be looking at 400-500koz per year given enough time and a big enough plant... As I have been saying for ages, thats a Tier 1 high grade low cost gold district.. those are very rare in the world today and the kind that majors pay premiums for.. so no wonder JM is happy to buy another £2M worth at 42p..

regards,
T123

[book5] 25/2/2021 08:46

SirAff
My experience with nicaraguans is that they dont want to tell you NO straight away, at early stages they want to engage with u so that u spend your money.
In the long term reality comes home.
I have learnt u cant fully trust what some of they say. There are many good people too.

[sir andrew ffoulkes] 25/2/2021 08:05

book5, I'm beginning to think that Mark is possibly being a little disingenuous.
I'm reserving judgement for a little while longer though as I've been here 12 or so years and made the mistake of falling in love with this share. I can't make my mind up as to whether things are running at a million miles an hour in the background or in fact if Mark is not the right person for this job any more, don't get me wrong he's done extraordinarily well in tough markets but it may be getting close to time for a change at the top. At times I think he may be a bit of a dreamer rather than a doer.
This is just a little concerned thinking out loud not a total change in sentiment or strategy from me, I'm still here and still fully loaded.

[book5] 24/2/2021 22:15

SirAndrewff

Has your view on the land changed?

[book5] 24/2/2021 22:15

The land is our main problem, however , I am not hearing anything about land negotiations.

I have been told the land issue could be resolved in two days if we were prepared to give away la mestiza.

On my view we are finding more resources as the only way to solve our land problem. In the latest presentation MC has not made any reference to CPOs for the land. MC must be feeling disappointed by the goverment. The shareholders want to get millionaires, but the miners too want a very good deal for themselves, and rightly so. Good business require everybody is better off than before.

The more we drill the better. So far I know of two drilling companies working for us, Rodio and Kluane.

I have been told a third drilling company has been appointed to "drill in a different place". I am cautious till I find out the name of the company, and where exactly it is going to drill.

Could a calibre's subsidiary do some drilling for us?

Therefore we could have unexpected news, they include: more drilling, and toll mining (refer to previous post).

All the above are rumours till they are confirmed by a rns.

We have plenty of money to invest in our plans.

Gla

[connect5] 24/2/2021 21:25

Needless to say I'm sure all the shareholders in CNR hope you're correct in your assumptions '888ICB', but it's good to consider the potentially not so palatable scenario for some, if there isn't any bid forthcoming! It has been discussed to death over the years on this and other BB's, if we are so attractive as a proposition a 'no brainer' if you like, why hasn't there been a bun fight to buy us? No need to reply with answers on a postcard, as I'm fully aware of the arguments and reasons previously stated here and elsewhere, land blah blah. Once in a while it's good to wake up and smell the coffee, as personally I have gotten carried away with the wild predictions stated on BB's regarding the share price and gold price and none of those so called 'experts' including JM have got it right to date. Anyway just my musings this evening FWIW! ATB & GLA as always!

[888icb] 24/2/2021 20:44

Mark has had Jim Mellon to advise him but also Ross Beatty who will be fully aware of how Condor will be viewed by larger gold companies including the majors in terms of a bid. So I am sure any strategy that Mark is persuing has been well thought out. In fact he is doing what you would expect by moving towards production but hoping to attract a bid. His statement in today’s interview makes it clear he is expecting a bid based on Cacao and Jim Mellon putting £2 million in now to get the drilling done and the reserves up. When the proven reserves increase the price goes up.
We should also remember that Rio recently went for Calibre so why wouldn’t another major be interested in CNR who will have the largest mine in the country.
Seemores view is interesting for debate but to me the evidence points to a bid being preferred and is the most likely outcome.

[seemore] 24/2/2021 20:01

Thank you connect5.

I also have rose tinted spectacle. So does Jim Mellon. I believe he recently put the words "multi-bagger" and "years" in the same sentence. That is my expectation also. I see the "years" as two minimum but, more likely three, on the basis that gold is at similar levels to today at that time.

In the meantime, CNR can be expected to shadow the price of gold and to spike periodically on good news before subsiding as immediate hope of take off fades, much as it has done in recent years.

And we also need the political risk not to materialise in the meantime.

That is my investment base case. More and or sooner would be nice but is not part of my base case.

[connect5] 24/2/2021 19:09

Excellent post 'see more' regardless of the worrying content in terms of timescales if we aren't bought out. Always good to see all the potential obstacles/pitfalls in this type of scenario, as it clears the 'rose tinted spectacles' that I have been guilty of wearing. Thanks.

[seemore] 24/2/2021 18:55

Very dangerous to have the objective to be bought out and I do not believe that is the case in this case either. Many excellent candidates either never get bought or have to wait a very long time. In the early stages Centamin was viewed as a certainty to be acquired but had to go into production itself and it had resources well over what CNR is saying is the potential at La India. In more recent times, check out Marathon Gold. For a long time it was run by a geologist and concentrated on exploration. It was clearly looking to be bought, but it never happened. Over a year ago they changed tack and appointed a management team with production experience, then produced a PFS. They now have 4m oz resource, about half of which is reserve, 2g/t, all o/p. No bid yet and they are in Canada. Now going down the development route.

CNR has a small (in the scheme of things) resource and has not done and does not intend to do, any sort of bankable study and the PFS it did was in 2014, so, very dated.

Whilst, as a shareholder, I would love to see a bid at the sort of prices that people here think is necessary to succeed, I think it has an extremely small chance of happening. It would be foolish for the company to have that as its only objective. I can imagine a scenario where Calibre have agreed to buy the project subject to x oz of resource but not much else. Whilst I don't follow Calibre closely my impression is that they have enough organic potential atm. But, I just can't see anybody else.

That said, I cannot explain why the emphasis has suddenly switched to drilling Cacao when the thing most needed to attract investor interest and so boost the share price is a credible plan to achieve production, better yet including a toll milling agreement to gain cash flow and provide some of the development funds and even better with a funding package which includes minimal dilution.

Unless, maybe, it is to prove up a resource preparatory to getting the co-op to sell their land, as Book5 has suggested?

I still think that owning all the land is the key to real progress here even though the company says it isn't. I don't think it is a coincidence that several milestones, other than buying the land, were not achieved by year end 2020, and still haven't been.

[book5] 24/2/2021 16:26

Someone is selling into strength

[888icb] 24/2/2021 16:19

We shouldn’t forget that Ross Beatty has been involved with a few Gold majors!

[connect5] 24/2/2021 16:15

Amen to all those points '8881CB' and 'tester123'. GLA & ATB as always!

[tester2020] 24/2/2021 16:07

888ICB - yes I agree with that assessment as well.. essentially, a big find on Cacao at perhaps 1Moz resource, along with drilling down dip and along strike at La India, could bring fairly easily bring the resource up to 3.5-4Moz.. then more drilling in other areas to add another 1-1.5Moz from the other nearby concessions..

All of which could mean a 5Moz district at 200koz+ production per year.. thats the definition of a tier 1 asset, and a lot of it is already permitted.. if condor can add 40koz pa Toll milling and/or an initial 120koz per year plant at $690 AISC, I just cant see how that wont awaken the interest of someone like shandong gold etc.. or maybe even rio tinto who are now looking at prospects in nicaragua after 18 months DD of the country..

regards
T2020

[888icb] 24/2/2021 15:40

The Sharetalk interview sees Mark in a very positive and confident mood.
2 particular points of note for me bearing in mind recent comments about Ross Beatty selling a few shares is that he refers to the Geologist who is very bullish on Cacao vein as Ross Beatty’s geologist. So it would appear Ross is still very involved.
Secondly he says if they can prove 1 to 1.5 million ozs at Cacao he is certain people will be knocking on the door as there aren’t many projects of that size in the world.
Clearly the stall is being set out with even more gold on the table. He is essentially saying an offer or offers are bound to come.

[book5] 24/2/2021 13:30

Toll mining should reduce need to raise capital.

Explotec engineer said they are going to be sent to la India (or to la Mestiza, I dont know where exactly) soon (but I dont know when!!) to leave the veins exposed, ie they are going to remove the rest of the material surrounding the veins. Source: engineer's manager.

I believe to do that would increase the risk of theft, and the only reason I can think of is that probably we will transport pure vein material to calibre (toll mining).

They cant do that till they drill in the veins bcs To drill on the veins they need a flat surface above the vein.

Now we are drilling at the centre of the red line.

Areas already drilled:
- cooperative land (at the right hand side of the red line).
-main section of El Chorriado (all the area that belonged to certain land owner, cant remember his/her name but I could find out). I will ask if this area is at the left hand side of the red line. If so, perhaps Explotect could start from that end.

A rns please....

Gla

[davidspringbank] 24/2/2021 13:02

The roadmap to 5m ozs of gold. Future news flow is likely to be very interesting when core samples are analysed to firm up this resource.

[book5] 24/2/2021 13:00

Thanjs Tester

[tester2020] 24/2/2021 12:28

Share Talk interview just out..

hxxps://www.share-talk.com/mark-child-chairman-and-ceo-of-condor-gold-plc-cnr-tsx-l-interview/#gs.uemtvv

regards
T123

[ajinvesting] 24/2/2021 11:43

Yesterday's closing price was a false 50p. Bid-Offer was actually 48/49, same as now. So no price fall today, so far.

[888icb] 24/2/2021 09:39

Down 3% on tiny volume of 28000 from 5 trades. Slow day nothing more to say in the absence of further news.

[book5] 23/2/2021 13:10

Toll mining is not dead and good news are coming.
All actions make operational sense and are most probably driven to mine the veins even before we finish all the drilling .
Keep the faith
I bought my monthly allowance today
Gla