Condor Gold Share Discussion Threads

[888icb] 18/5/2022 12:09

There were about 5.5 million warrants issued at the last placing in October 2021 which I am sure was intended for future cash needs. The problem is the share price remains at a large discount to actual value well below the 50p exercise price of the warrants. Perhaps the release of the BFS and a financing deal in the next few weeks will put the warrants in the money and investors can be encouraged to exercise them. A forced exercising of 50% on the warrants can take place if the share price remains at 60p or above for 10 consecutive days. Not sure if their are older warrants still to be exercised.

[alexej65] 18/5/2022 11:09

thought there are some warrants pending in the very near future…

[diggybee] 18/5/2022 01:35

888. When will the cash run out in your opinion. Let's assume for this scenario there is no deal/ takeover.Gbp400k will only last a few weeks ?

[zangdook] 18/5/2022 00:54

I had a view of this company before, and then I saw some "data" in the form of contradictory RNSs and interviews, and now my view has changed. I cancelled my plan to increase my holding and even reduced it at a slight loss to a level where I'm comfortable (kinda) with the increased appearance of risk. I hope the data the bankers see clears up MC's public inconsistencies. Perhaps he was locked in the toilet block while the data was prepared in order to stop him inserting contradictory BS.

[diggybee] 18/5/2022 00:37

And the weather. They will either need to ski out of the data lair, or take the cable car, both journeys come with danger.

[dexdringle] 17/5/2022 18:03

.....whether the bankers have left the data room is directly related to the number of biscuits remaining in the data room....

[septblues] 17/5/2022 17:30

By now the bankers will have left the data room having got all the information they needed to very probably confirm their views before they got in the data room. Bankers don't have an army of people to visit every data room presented to them - they want to lend and move on. That's their business. Being bankers the tacit decision will have already been taken and all that's happening now is finalizing an updated report for any investment committee which will be dealt with quickly because bankers want to lend money to get their bonuses.

[888icb] 17/5/2022 16:53

Here is a post from a long term holder and poster on CNR Dictumdedicto who had difficulty buying today:
“
Buy
RE: Added17 May 2022 15:49
I needed to take some BP/Shell shares off the table, so I thought I might as well buy at 33p rather than wait for 30p. I couldn't buy 15k and had to split it over a 10k and a 5k - you can see them on today's 'trades'. Although the share price seems stuck in the 30 - 35p range, there is very little liquidity. Even my 15k pushed the Ask up from 33p to 33.5p. From what I can see, people are digging in. I'm a long -termer, so the chance of me letting any go in the next 12 months is very low - I'm waiting for a proper return, not threepence! If, as, and when, some real news drops there isn't much to stop the share price racing up to 50p or more very quickly. In recent weeks I've seen other people struggling to buy 10k or more, and now I've experienced it myself.

Yes, I remain frustrated with the time it is taking, but the answer is to exploit price weakness rather than give up. First gold might now be H1 2024 but I think we'll see the price moving much earlier. If, as some believe, the data room is thronged with people running over the numbers then we might even see action within weeks, or months, rather than at some unknowable point in 2023. RIO would indeed be brilliant if it does happen.

The ground has been prepared for Q3 news, but Q2 remains a possibility.”

When you look at todays trading the buys actually exceeded the sells but down just 1.5% to 32.75p on volume of 77000. Sensible to buy today as 30p may never come.

[book5] 17/5/2022 16:08

Weeks back Calibre hired new haulage company. Imho it is us who cant afford to have a toll mining agreement, probably for a reason related to the land swap
Imho As soon as the land swap is shorted out, if it is very favourably to us, then we will have a tool mining deal instantaneously.
So we may not need to raise lots of cash if we get the majority of la Mestiza, it could happen quickly,
Many ifs but possible
Gla

[oldiegoldie] 17/5/2022 14:00

The option of toll milling has silently been buried it seems.

[zangdook] 17/5/2022 13:54

It's very sad, but I'm forced to conclude 888 has gone off his rocker. His constant obsession with "traders" forcing the price down is presumably a tactic to avoid facing up to the fact the price is down because of real problems with his investment in a company whose public announcements have recently become more and more troubling.

Denial that a report promised for Q1 will be late if it turns up in Q3 is another obvious symptom.

[888icb] 17/5/2022 13:53

Clearly there are a number of ways the cash situation can be addressed. We know that Mark is very keen to minimise further dilution so would obviously want to avoid issuing further equity at such a low share price Much better to do it at a higher share price post BFS and Debt Financing. The Debt financing may provide working capital. A big Miner could buy in to the project providing cash or we could just be taken over on the back of the BFS.
But we will just have to wait and see while you talk about Jaffa cakes if that’s what floats your boat.

[diggybee] 17/5/2022 13:09

So we are sanguine on the cash situation then? Also, anyone who is trading the 30-35p range like a whirling dervish, deviously bending the market to their will with malevolent posts on obscure discussion boards, will hardly be making enough for a couple of packets of Jaffa cakes, definitely not a Marks and Spencers luxury collection. The ones with the dark, milk and white chocolate selections. There just isn't enough volume!

[888icb] 17/5/2022 13:04

You look for negativity whereas I look for positives. If you look at what Mark actually stated in the Results RNS:
“ The Feasibility Study on La India open pit is almost complete, the formal announcement will probably take us into Q3. It will put the Company in a position to pursue various project financing alternatives, some of which have already been initiated."

The FORMAL announcement will PROBABLY take us into Q3. As he is saying it could be in Q2 it would seem 6 weeks or less is a lot more likely than 19 weeks. Mark is now in Nicaragua at this important time to make this move along as quickly as possible.

[bahamasoil] 17/5/2022 12:43

Q3 may be six weeks away but it is also nineteen weeks away and this management has previous.

[connect5] 17/5/2022 12:34

I think if you looked up the definition of tedious you might get a surprise?

[book5] 17/5/2022 12:32

Even with a FS it is not guaranteed that we will build the mine. We will need the financial backing from big guns.
Big guns want big and quick returns.
What will be the economic parameters of the FS without la mestiza and without America? Would they be good enough to have a low interest rate on the money we will need? I really hope MC delivers after so many delays.

[888icb] 17/5/2022 12:09

There is always some reading between the lines but we are pretty clear what’s going on from the last RNS and some interviews where Mark gives us some details he can’t put in an RNS such as the possibility with a major player of a big copper opportunity. The copper opportunity is covered by an NDA. The major player may well be Rio who also are behind Calibre, so gold and copper could become a combined deal.
We know the BFS is virtually complete and that a number of financing discussions are on going in the data room. We know the BFS is probably Q3 but as the finance companies are in the data room looking at all the BFS information it is not the case that nothing is happening until Q3. It’s happening now and it seems to me that the people for whom the BFS is produced actually have the information they need. It’s only 6 weeks till Q3.
Some people are saying the share price keeps falling but that’s not really true as since mid March the share price is on a clear rising trend with peaks of 33p, 35, and last week 37p the highest close in 6 months. If the traders want to play with 3p up and down so be it but I hope they miss out on the big rise. What we could do without is the agenda driven negativity of the traders which gets very tedious. Fortunately most people can see straight through it and take little notice as the rising trend demonstrates.

[septblues] 17/5/2022 12:09

There are 35000 active mines in the world - that's 35000 experiences of bringing a mine into fruition

Condor is just one and builds on all that experience

[dogface3] 17/5/2022 08:39

Photos don’t lie show the ducking progress monthly as we seen the water containers a 100 times being moved around or twitted about