Condor Gold Share Discussion Threads

[book5] 17/3/2021 11:32

Tester
Good detail, thanks.
we dont need to relocate the whole village.
Regards
B.

[pass the dutchy] 17/3/2021 11:28

ANA will be the UK’s leading cannabis producer (200 TONS per year that’s worth £400m)


Share price 1.45p
Only £8m mkt cap


Fastest growing sector worldwide
Will have first mover advantage in UK
Same growers as GW Pharma (just got sold for £5b)
4 biggest shareholders hold over 50%
BOD own 30%
Massively undervalued
Near term multi bagger on license approval
Partners with leading prof , scientists etc
Primed for a RTO/ main listing (price driver)
Under the radar (most chased MXC,CBX)
Looking to bring a product to market
Off take agreement in place already
Will be producing 200 TONS per year (200,000 kilos)
Has the most land out of every UK cannabis co (40 hectares)
Fully funded for phase 1
UK medical cannabis growing 20% month
Only 584m shares in issue
Hardly any available in open market
Will apply for a commercial license too







Targets and price movers :-

5p+ on license (imminent)
10p+ RTO/Main Listing
20p+ commercial license
£1+ when producing 200 TONS per year

Well worth taking a position whilst it’s still on the ground floor imo.

[tester2020] 17/3/2021 11:22

Thought you might like to read this post I created elsewhere.. I just wanted to highlight one important point that MC made last night that I think I have been missing all along.. The PFS in 2014 (page 12) gave a breakdown of the CAPEX costs for $110M total inc contingency). But Mark pointed out last night that this CAPEX figure actually included lots of things that CNR have already paid for.. e.g Land Acquisitions, Infill Drilling, Pre Mining Engineering Studies etc. I have therefore attempted to reduce the CAPEX requirement in the PFS accordingly to give an idea of what the remaining cost of construction financing could be, in order to build the mine:

INITIAL PFS CAPEX ESTIMATES (2014 PFS page 12)
Processing Plant = $48.1M
Infrastructure = $9.8M
Mining pre-production costs = $18.7M ( I believe this includes all the costs for infill drilling, Site Wide Water Balance study, Tailings Storage Engineering Studies, Site Preparations etc.)
Mining support operations/equipment2 = $8.1M
Tailing Storage Facility = $6.0M
Land Acquisition = $7.0M
Owners Costs = $4.6M
Total Upfront Capital Costs = $102.2
Contingency = $7.6M
Total Pre-Production Capital Costs = $109.9M

REVISED PFS CAPEX ESTIMATES (i.e REMAINING COSTS)
Processing Plant = $41.6M ($48.1M - $6.5M for SAG MILL already financed)
Infrastructure = $9.8M - Kept the same, but I think some of this will already have been paid, i.e roads into plant etc.
Mining pre-production costs = $0 (ALL STUDIES / GEOTECH DRILLING ETC ALREADY PAID BEFORE CONSTRUCTION FINANCING )
Mining support operations/equipment = $8.1M - Still required
Tailing Storage Facility = $6.0M - Still required
Land Acquisition = 95% ALREADY PAID, say $1M remaining
Owners Costs = $4.6M - Still the same
Revised Total Upfront Capital Costs = $71M
Contingency = $4M (lower contingency needed ,as more already been completed / spent)
Total Pre-Production Capital Costs = $75M

Now, assuming for Construction Financing the remaining balance required is not $110M but is now actually $75M, and that can be broken down into 70-30 debt to equity, then the equity required will be around $22M or £15M. So possibly issuing 30M shares at 50p, or hopefully at a higher share price by that point if toll milling.

My point is, this is not a capital intensive project and is actually very manageable even for a small company like Condor. And remember, they would be spending $75M to make around $100M EBITDA in year one.. with debt of only $50M at that point, they could probably pay off the loans in 1-2 years while still funding more exploration and increased production, permitting underground and bringing another 70-80k oz per year online..

The market, meanwhile, is still worried about huge dilution.. I think thats unfounded!

regards
T2020

[diggybee] 17/3/2021 09:31

It's funny price performance. You'd expect, even as a dispassionate observer rather than a paid up condor cult member, that the recent sequence of events and news flow would have the share price poking above 2021 highs. Very little follow through or volume. Maybe we have all the shares that jm and mc do not!...but somebody is keeping a lid on it, for whatever reason.

[888icb] 17/3/2021 08:16

The reports of the presentation are very positive and it should start to get the message out into the market that Condor is a very undervalued company that it accelerating towards production. As a long term investor in Condor I feel confident that a significant rerating will soon be underway.

[888icb] 17/3/2021 08:02

There are a number of summaries of last nights presentation on the other bb. I thought it may be useful to reprint one here from Isapension

Evening All
Just thought I would give my take on today’s presentation
Started by positive news of Sag Mill purchase and reiterated part paid in shares at 10% premium.
Really showed how excited he is with this Mill option, and the fact it can be upgraded to increase production even higher.
Parts of Mill will delivered within 6 weeks but will take a few months for everything to arrive. Reiterated he was reducing 12 months lead time and fact this was a Top quality mill fully guaranteed.
His words, a real game changer!..... and show a path to 5 million oz’s of gold!
Confirmed they are going for 80k to 100k construction strategy.
Mark will arrive in Nicaragua tomorrow to sort Mill and also review drilling currently taking place. (Completed lots of drilling which is great news)
Mark is delighted First Majestic are investing and after due diligence showing huge vote of confidence.
He kept talking about various studies as Mill is being built to maximise production and in turn cash return!
Already making headway on Cacau drilling! Geologist very bullish re Cacau vein hence their drilling strategy!
No1 short term objective - acquire 5% balance of land (interesting No1 on list)

Mark was reluctant to state remaining capex required as he was still working through quotes etc however he felt realistically we would have a 12 month construction lead time from when all materials are in country at which stage WE HAVE GOLD!! He did state they would go straight to production of 80k to 100k.

Re fundraising needed it would be a combination of bank debt, gold loans and equity!

Shame no questions re Toll Milling however unless anyone thinks different at 48p we are a bargain! (Seems Majestic more than happy at 50p)

[book5] 16/3/2021 21:15

From tonight presentation: 7 drills more to do at the india.

Remember the rumours:
-After the drilling cnr will bring 3 machines to expose the veins.

In around 2 weeks time we should finish the drilling at the india.
Imho if we exposed the veins, a tool mining deal should follow which whould contribute to the cash flow till the main production starts sometime in around 18 months?

A toll deal would benefit the governent, the local economy, the cash flow, and put a rocket under the share price (less dilution when we raise equity), so cnr will go for it, hopefuly we will get it.

Imho the " less dilution" benefit is more important than the cash flow.

I feel that with MC in Nicaragua a toll mining will be agreed, and he will target the land too.

Gla

[book5] 16/3/2021 18:05

Sirmoori
Many thanks

[royaloak] 16/3/2021 16:43

T2020

Added a small amount in the closing auction at 48.40, looks like I may get a few more cheaper the next day or so.

[sirmoori] 16/3/2021 15:17

For the Condor presentation:

For additional complimentary tickets please visit:
hxxps://melloevents.com/mellotuesday-investing-in-gold-mining/

and use the code:
APGOLD
For free tickets.
Programme for the evening
18:00 Welcome and Introduction to Mello Tuesday
18.05 John Meyer investigates: Are we in a new commodity supercycle, or is one coming?
18:30 Company presentation - Caledonia Mining Corporation with Q&A
19.00 Company presentation - AfriTin Mining Limited with Q&A
19:30 Introducing the new Amati mining team
19:50 Company Presentation – Condor Gold, with Q&A
20:20 Edmund Shing talks about how an ESG strategy & commodities can dovetail together
20:30 Company Presentation – Taseko Mining with Q&A
21:00 Gold & Mining panel session – A round table discussion with audience Q&A (John Meyer, Edmund Shing, Mark Bentley and Amati)

[bikwik] 16/3/2021 13:09

I agree. Just down to the short term mentality of some people. Nothing wrong with a profit. However, there are too many positives here not to hold on for the bigger advance.

[888icb] 16/3/2021 12:27

Although we are down a little this morning following yesterdays rise it is good to see the largest trade of the day was a late reported from 10.12am Buy of 45000 at 51.44p. Lots more news could arrive at any moment as could a bid so not sure why people are profit taking today.

[sir andrew ffoulkes] 16/3/2021 08:11

Be good to see TSX volume up on a regular basis going forward:

[buzzzzzzzz] 15/3/2021 19:47

Take out next week!

Is what I would like...2 squid!

[book5] 15/3/2021 16:57

We need a steady rise for few years

[royaloak] 15/3/2021 16:31

Thanks T2020

[tester2020] 15/3/2021 15:49

bomber13 - excellent post! totally agree.. :-) Brilliant news..

royaloak - fortunately, I had already bought another £20k worth on Friday so i didnt need to buy any more today.. or sell any for that matter sorry.. I will give you a shout when Im selling them at £2 though ;-) see if you can get in first in the auction queue at that time :-) In all seriousness though, you may well have a chance to buy in the coming days if RB were to continue selling at 50p level..

regards
T2020

[royaloak] 15/3/2021 14:52

Bought today. Tried to buy in the 2pm Auction also, IG would not place my Bid, anyone else had the same problem? Many thanks.

[davidspringbank] 15/3/2021 14:03

A strategic masterstroke.

"The key message is Condor has purchased and sized the mill at 2,300tpd, significantly shortened the mill delivery time, set a trajectory for detailed project design and an accelerated path to production. What’s more, Condor has acquired a state of the art, complete new SAG Mill package with warrantees, manufactured and supplied by Metso Outotec, the premier manufacturer of grinding mills and entire grinding systems for the global mining industry. Metso Outotec’s technical support group has estimated a throughput of 2,300 tpd or 0.8Mtpa on a sustained basis using the existing motor. Increasing the motor size would increase throughput to 2,850 tpd. Initial gold production is expected to be between 80,000 to 100,000 oz gold per annum. The new SAG Mill forms stage 1 of production, the aim is to materially expand production capacity after 2-3 years.
I am also delighted that First Majestic Silver Corp has given a vote of confidence to Condor’s management team and endorsed a new mine at the fully permitted La India Project by accepting part payment in Condor’s shares at 50p. The Board joins me in welcoming them as a shareholder.”

[goldrush] 15/3/2021 13:12

bomber13

Great post and Summary.

This is the best news we have had in over a year and demonstrates the show is on the road.....IMHO

[book5] 15/3/2021 11:36

：） I will

[tester2020] 15/3/2021 11:34

Could he not at least have waited until 6th April to announce this? Jeez Louise... ;-)

book5, I suggest locals might start to get very excited when they see the new SAG mill arriving on site in 3-4 months.. keep us posted amigo :-)

regards,
T2020