Condor Gold Share Discussion Threads

[oldiegoldie] 12/8/2021 11:18

These sells were MM clearing their stock. On AIM, what one guy sitting in a MM office thinks has more influence on share price than what 1000 shareholders think
Liquidity of CNR was always tight, since the early days.

[888icb] 12/8/2021 08:54

No holdings RNS so far but the share price is holding firm from the 2 Buys we have seen with the second at full ask 42p. Let’s see how the day goes and if the big buyer returns.

[book5] 12/8/2021 08:42

But there could be others. Even if only to hedge their holdings. This was hammered.

[oldiegoldie] 12/8/2021 08:30

@book, No I dont think there are shorts (and I am not short, too)
Shorting on AIM is difficult and dangerous. The downside potential of CNR is quite limited whereas the upside potential can be quite strong, if things go right.
So risk-opportunity does not really hint towards shorting

[book5] 12/8/2021 08:23

Perhaps some have shorted cnr through spreadbets.
I believe it is possible, isnt it? Very tempting given political situation and rapid decline. But if share price is going back to 50p they should be closing their shorts before that.
Interesting times ahead, there may be sharks in the water.
Gla

[oldiegoldie] 12/8/2021 08:22

Buzzzzzz, yes that is not a secret, I wrote exactly that yesterday. I want to see clarification via BFS and before BFS issued I would not pay more than 25p

[buzzzzzzzz] 12/8/2021 07:41

25p is where oldiegoldie wants it to go so he can buy back in....deramping!

[sharenotes] 11/8/2021 19:44

I think Keith Neumeyer (First Majestic) would have run his slide rule over the prospects of CNR and, in doing so, weighed up the pros and cons. If I remember correctly, he effectively picked up a chunk of shares (US$3.0 million) at 50p per share.

[oldiegoldie] 11/8/2021 17:29

yes, but this not happening is exactly the problem

[book5] 11/8/2021 17:19

25k oz from la Mestiza (12gr/tn), and better Tatiana(at least 30gr/tn), to calibre/mako , starting next December would deliver them in a few months.
Explotec drawings were prepared months ago, and then were buried in silence.

[oldiegoldie] 11/8/2021 17:13

80/20 would be the best case scenario.

[chipperfrd] 11/8/2021 16:56

At last estimate, capex requirements were US$24.8m in 2022 and US$66.4m in 2023. So total of c. US$91m.

Say 80:20 debt/equity, which might infer US$18m in fresh equity (around £13.2m).

But much may have changed. They already have the SAG mill but other prices may well have increased - we will see!

[book5] 11/8/2021 16:40

He paid 42 on last raised capital.
So I am believe there are plenty of funds till that level
Or may be limit is 50p ? We shall know

[aleoap] 11/8/2021 16:31

We will probably see an after hours 'larger' delayed trade 100k plus. If not I expect Jim continues buying in next few days.

[888icb] 11/8/2021 16:28

Moving Up 6.6% into the close on volume of 460000 and back above 40p

[888icb] 11/8/2021 15:50

If Oldies predictions of future sp(no doubt related to his trading strategy) are likely why is someone buying in quantity today. If that person happened to be Jim Mellon why would he pay 40p today when in Oldies dreams he could buy for 25p fairly soon?

[book5] 11/8/2021 15:26

Oldie
I disagree, nothing is written In stone.
Reserves quality are key for valuation, no only a present value on the returned capital.
All the best.
No further comment,

[oldiegoldie] 11/8/2021 15:03

@book, the BFS will give a clear indication how the mine is financed.
Awaiting a decision on Toll milling "yes" or "no" is the main reason for the delayed BFS. Once the BFS is issued under certain assumptions, it is extremely likely that the financing structure will be done in line with BFS.

This means that on the day the BFS is issued comprising said assumptions, there will also be clarity about the dilution needed (very likely RNSed together with the BFS).
The amount of capital needed is quite significant in relation to the current MCap, probably creating significant dilution, thus the tanking share price
Once this issue clarified (one way or the other), I will probably buy in again.

Still, I am blown away by the level of optimism here. The whole CNR bet was a toll milling (reduced capital needs) bet, and this bet seems to be lost.
The rest of the company, without the toll milling element, is not bad, but the 50p++ valuation (corresponding to 50% of NPV) was reflecting toll milling potentially to happen. A 25p valuation (25% NPV), where I would buy in pre-BFS, would take in to account a yet to be defined level of further dilution.

[888icb] 11/8/2021 14:41

Is Jim Mellon buying as he did last July and August when he purchased a total of 600000 shares in 3 tranches?

[book5] 11/8/2021 14:39

Chipper
Many villagers oppose to us, yet they respect us.

[888icb] 11/8/2021 14:26

Someone is on a buying spree just bought 12500 x 10. CNR Up 4%.

[book5] 11/8/2021 14:23

Oldie
Imho the BFS will not be issued preventing a toll mining agreement. I personaly believe we will have one.

[oldiegoldie] 11/8/2021 14:00

@book, for sure the BFS to finally be issued soon is not the only reason, but one significant reason amongst others. BFS without toll milling option means dilution.

[chipperfrd] 11/8/2021 13:58

Artisanal mining is not benign! It is highly dangerous to the poor people who do it, very destructive to the environment and usually entails very violent individuals who prey upon the people who slave for them.

Here is a current piece on the BBC about the toxic pollution from such activities in Ghana.


Dreadful that poverty drives people to have to do it. But given current ESG requirements, the commercial mines do at least offer safer jobs, often funding for local facilities, taxation to the economy and environmental protection.