Condor Gold Share Discussion Threads

[888icb] 29/4/2021 17:25

I know it doesn’t mean much because of the very small volumes but in Canada Condor is currently Up 28.75% at 1.03 which converts to 60p. It’s a pity that wasn’t the UK where we only managed Up 2.2% on the back of excellent drilling results.

[corrientes] 29/4/2021 17:11

Thanks for the info, tester2020.

[book5] 29/4/2021 15:34

We dont know the banks drillng requirements if we do not generate cash for 2 + years.

I have a contact in Calibre, when I asked him if it is possible a toll mining agreement with them， he told me it is very probable they will buy rock from condor, and quoted me a larger spare milling capacity that the one was circulating on the lse board.
Still I believe it will happen, the latest, when we finish drilling la Mestiza.
They may want to buy our rock, rather than us renting their instalations, so the need for our extensive shalllow drilling. I have asked for his opinion, he is investigating.

[sherwood58] 29/4/2021 15:26

Book, don't forget, we only need to satisfy the bank debt which will only be a % of that number (which will be lower than 120m usd). We'd be able to pay back that debt within a few years so don't think it will be an issue.

I feel it is too late for a toll now. The boat has sailed. Calibre have just bought lots more land packages which will be cheaper to explore and I think they have enough to go on with their own exploration and their Eastern borosi project.

[book5] 29/4/2021 14:57

We are drilling only the surface of the 1 million oz deposit that goes much deeper than 35m

Just a thought : Why would we only drill to proof 60k oz?

This is probably not enough to satisfied the requirementd to obtain the 120million financing package, but to study the economics of a toll mining agreement, and /or the FM's requirements to validate the model of our reserves. With a toll mining in place the need of further drilling will be reduced.

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Imho this share is manipulated to prevent it goes up. Eventually It will go up a lot ， patience. I hope we see a positive momentum building in the share price soon.

[tester2020] 29/4/2021 14:25

corrientes - we believe its Ross Beaty who originally held about 6.5M shares here, but as of Feb 2nd (see RNS) was down to 5.5M shares and seems intent on selling down his holding here at around 50p, perhaps less now (47p?).. So there is currently a bit of an overhang of shares here which is suppressing any decent rises on good news Im afraid..

regards
T2020

[corrientes] 29/4/2021 14:12

Who keeps on selling at regular intervals, so holding the price down ? Are they in cahoots with some interested party ?

[sherwood58] 29/4/2021 12:02

Airbag, from my understanding we need to complete the key conditions of the environmental permit prior to construction. Owning 100% of the land should be one of these conditions. We've enough to be getting on with at the moment and the government are assisting in the last 5%. It'll get done in time and as Mark said, it won't delay the process.

[pugugly] 29/4/2021 11:51

2012 "Condor Resources Plc (‘Condor’;) has announced a resource update for its wholly owned La India gold project in Nicaragua. The inclusion of the initial drilling assay results from its ongoing 20,000m drilling campaign has lifted the project’s resource to 1.62Moz at an average grade of 5.6g/t gold. This exceeds the initial 1.5Moz target that the Company had outlined for its latest resource estimate calculation. Condor is a little over half way through its current drilling campaign and has a large amount of drilling results to include in its next resource estimate. The Company has set itself a near term goal of increasing the resource at La India to over 2Moz."


• In January 2019, SRK completed an updated Mineral Resource Estimate Condor's 100% owned La India Project in Nicaragua comprising 9.85mt at 3.6 g/t gold for 1,140,000 oz gold in the Indicated category and 8.48mt at 4.3g/t gold for 1,179,000 oz gold in the Inferred category.
• The drilling has confirmed continuity of gold mineralisation in the La India orebody and supports the geological model used in the mineral resource and mineral reserve estimations.

• Mark Child, Chairman and CEO commented: "The starter pits are shallow, within 35 m of the surface and contain 455Kt at 4.17g/t gold for 59,674 oz gold using a 2.00g/t cut off grade. The intention is to mine them early to quicken the payback period and enhance the Project's economics. The starter pits sit within the main fully permitted La India open pit, which has a Mineral Reserve Estimate of 6.9Mt at 3.1 g/t gold for 675,000 oz gold."

My brain getting addled but appears grades are down quantity of contained gold higher BUT cannot compute AISC implications - HELP!!

[1airbag] 29/4/2021 09:33

This may have been debated many times before here but does condor need the 5% of land? Can they mine successfully without it...?

Or does it unlock some kind of access?

If it were me and it was not necessary to own the 5% I would carry on regardless with the 95%.

[diggybee] 29/4/2021 08:00

Fresh meat! Oh the undimmed exuberance. Maybe though you are the cosmic agent of change. All aboard!

[corrientes] 29/4/2021 07:53

For a change, my timing to buy in here seems to have been spot on. Once this land issue has been concluded, seems to me the company's carrying on as an independent will be extremely limited, probably a nil chance.

In fact, If the share price doesn't now accelerate considerably, a buyer is going to get this one for pennies in the pound. I defer to those who know the real background here, but whatever, come on share price, for goodness sake get your skates on !

[book5] 29/4/2021 07:41

Oldie
I will ask around

[diggybee] 29/4/2021 07:41

Go paddle steamer, go.

[goldrush] 29/4/2021 07:37

Excellent drilling results.

Not many companies can announce grade and widths like this and from shallow depths --

"Drill Intercept 22.05 m (21.6 m true width) at 6.48 g/t gold from 24.75 m drill depth in La India Starter Pits"

[book5] 29/4/2021 07:27

Oldie
I have not heard anything at all that supports that, but u never know.
Yes, new rns, issued at a time we need it, good.
If rumours are true and cnr accepts tender offer of drilling contractor for la mestiza another rns should follow soon.

[oapknob1] 29/4/2021 07:03

Nice - The drilling results received to date support, and add considerable confidence to, the geological model used in the mineral resource and mineral reserve estimations and mine plan.

[oldiegoldie] 28/4/2021 22:25

Sherwood I have (for a while already) the impression that Calibre would like to buy us out; a few months ago I was commenting on this BB that the toll milling not happening is a sign Calibre does not want to allow us generating cashflow for our Capex.
It seems to me that the land issue could be another attempt of blocking our development.
I have absolutely no concrete indication if and what is happening onsite, but maybe the last few % of sellers are influenced / paied by other parties in order to delay the procedure.
I do not want to raise any conspiracy theories, but to my observation the events on the "battlefield" could have some kind of background of this sort.
Maybe book5 could investigate in this direction.

[sherwood58] 28/4/2021 21:59

Oldiegoldie, what do you mean by your comment regarding calibre and the land. Can't see any link between the 2.

[oldiegoldie] 28/4/2021 21:18

Well hopefully the imminent arrival of the mill will give some attraction.
I am still wondering whether Calibre has their fingers somewhere fiddling around in the land (non)issue... its all too quiet

[book5] 28/4/2021 18:15

Today I gave info to my main contact.
He told me the new road is to bring a large machine, but de did not know what machine.
I added, it is the mill:-) to start arriving before end of May

[book5] 28/4/2021 16:16

Next rns cant be too far away

[connect5] 28/4/2021 14:28

Frustrating to say the least!

[888icb] 28/4/2021 13:41

We are sage investors taking the Warren Buffet approach to investing and as you say it is pleasing that this remains a good humoured board!

[connect5] 28/4/2021 13:32

Glad to see we haven't lost our sense of humour even though the sanity's long gone.