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CNR Condor Gold Plc

0.00 (0.00%)
20 Jun 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Condor Gold Plc LSE:CNR London Ordinary Share GB00B8225591 ORD 0.1P
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.00% 24.00 47,659 08:00:00
Bid Price Offer Price High Price Low Price Open Price
23.50 24.50 24.00 24.00 24.00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Gold Ores -1.69M -0.0093 -25.81 43.39M
Last Trade Time Trade Type Trade Size Trade Price Currency
16:35:29 UT 348 24.00 GBX

Condor Gold (CNR) Latest News

Condor Gold (CNR) Discussions and Chat

Condor Gold Forums and Chat

Date Time Title Posts
20/6/202418:42Condor Gold plc12,795
13/4/202315:22Mc pony talk1
16/9/202015:26Precious Metals Summit Conference -
27/7/202000:20Condor Resources - Flight of the Condor in 2011?15,172

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Condor Gold (CNR) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
2024-06-20 15:35:2924.0034883.52UT
2024-06-20 13:00:1123.7019,3474,585.24UT
2024-06-20 11:56:0123.503,131735.79O
2024-06-20 10:16:0524.5040899.96O
2024-06-20 09:11:2723.755,3241,264.45O

Condor Gold (CNR) Top Chat Posts

Top Posts
Posted at 20/6/2024 09:20 by Condor Gold Daily Update
Condor Gold Plc is listed in the Gold Ores sector of the London Stock Exchange with ticker CNR. The last closing price for Condor Gold was 24p.
Condor Gold currently has 180,790,824 shares in issue. The market capitalisation of Condor Gold is £43,389,798.
Condor Gold has a price to earnings ratio (PE ratio) of -25.81.
This morning CNR shares opened at 24p
Posted at 14/6/2024 13:07 by book5
I do not agree with: "junior explorers with no actual mine building experience are to be studiously avoided in future"
it depends on the jurisdiction
CNR share price would be doing very well if CNR assets were in a remote area of Australia or Morocco.
The main issues are the Nicaraguan government's actions and the miners' rights; MC overlooked both and has not reported on them in detail.
Posted at 16/2/2024 20:10 by book5
Recently, the Calibre share price graph has been outperforming most gold producers.

It's a good candidate to buy us, hopefully soon. Let's see if they give us a mix of cash and paper, preferably all paper (out of the reach of JM's hands).

It makes sense for both sides to exchange devalued CNR paper with cheap Calibre paper rather than for a bit of cash.

If they buy us with paper, we are getting cheaper and cheaper for them; Calibre share price could reach $1.7 by the end of the month. At that point, with less than 10% dilution, they could probably exchange all our shares (including warrants and options) at 1 Calibre for around 3 CNR shares, ie 33p per share.

The Chinese are the best option for the government.

No news from the village.
Posted at 30/1/2024 11:47 by 888icb
The Gold Market background to CNR sale process
It is useful to look at the Gold Market generally to understand the issues faced by CNR in the sales process it is currently conducting. Yesterday I watched a Kitco interview with our former shareholder Ross Beatty at the Vancouver Metals conference a couple of days ago. Ross Beatty as many will be aware is a legendary successful investor in the commodities business particularly in Gold. He is currently building his swan song large gold company Equinox Gold, which is just completing a very large project in Canada which will bring its target of 1 million ozs of gold per year ever closer.

Ross spoke about the total disconnect between the price of Physical Gold which has been rising to new highs but this has not been accompanied by a rise in gold equities from the largest to the smallest.

He described the disconnect that had seen equities fall as gold had risen , make the price of equities ridiculously low. He said he had seen nothing like the last 15 months in his 40 years in gold mining. He thinks that is going to change in 2024. Deals will start to be done and the whole gold sector will rise. The rises will in a number of cases be 100% and more and will be rapid when the time comes. The rises will be across the board but the largest will be in the juniors including the early stage ones that haven’t started mining yet.

It would appear that CNR are moving to the phase of concluding a deal at an opportune moment which just wasn’t there year. When this sale process started it was billed as an asset sale because there was a complete disconnect between the share price and the value of our gold as valued by established industry metrics. This situation has been and remains the situation for all gold companies and is not CNR specific. This gives me increased confidence that CNR will be sold in the coming months at a good valuation which will be multiples of its current share price. This is the link to the Ross Beatty interview:
Posted at 19/12/2023 10:23 by sharenotes
Book5, I hope you are wrong with your share price prediction! As OldieGoldie has stated, he called it a while ago that the share price could rise to the mid-twenties. If I remember correctly, he made a similar call before. On each occasion I hope he backed his call and traded accordingly.

Simply put, long-term holders are usually short-term holders that have been ‘caught.’; For the mining sector and particularly the exploration subspace, a transfer of wealth is common from the investors to the directors. The typical investor hopes for a significant share price rise but the odds are greatly stacked against such an outcome. Generally, the exploration enterprise goes bust and investors lose it all. Notwithstanding, the recent funding raise gives CNR skin in the game and with gold seemingly stabilising around the $2000 mark, those long-standing shareholders may just get a result yet. Here’s hoping they do. Merry Christmas and a great New Year all.
Posted at 18/12/2023 15:17 by sir andrew ffoulkes
Interesting thoughts from ddd on lse:

This report has only just found its way to me today so I may be out of date if it has already been kicked around on this board. For those that have not seen it, the report is dated December 12th 2023 and may well explain some of the new interest in the past week or so. It kicks around some recent history, but its main contention appears to be as follows (taken directly from it):

'Providing a target price is difficult given the circumstances mentioned above. Here's a guess.

For a bid to be acceptable for the board and major shareholders, it will have to consist of two components:

-An initial pay-off of no less than 35 pence per share.

-Performance-based additional payments that can take the total pay-off to shareholders to somewhere between 50-60 pence per share.

Last but not least, there is an additional potential outcome. Given the number of firms that have been circling this opportunity and with now not one but two potential bidders in advanced conversations, one bidder putting in an official bid could lead to counter-bid(s). A Chinese

buyer would probably make an all-cash bid, since Chinese shares are not generally accepted as an acquisition currency and given how cash-rich some Chinese gold miners are.

As ever, these are my conclusions drawn from following all the publicly available material on Condor Gold. There are no guarantees, and investors need to draw their own conclusions ahead of investing. However, the current facts do point in a certain direction. As the company's

CEO and 2.4% shareholder, Mark Child, said in a video interview on 6 December 2023:

"We continue to get new people interested as the gold price goes up. … The reason why we haven't reached a definitive sales agreement yet is really just the price. … We ask all shareholders to be patient with us. … The directors and chairman own 28% of the company, we all want to maximise the value for shareholders… We are now in very advanced discussions with two particular parties."

My view is that this is an entirely plausible scenario, even the prices suggested appear attainable, especially given the strengthening price of gold. 35p could easily be 40p by January with another circa 20p on top over the next two or three years. Ironically, this brings me back to my 60 -65p scenario of a year ago.

Assuming this is a possible, perhaps even probable, outcome, I'll revive earlier questions about how a distribution would be made, and what the share price might get to prior to an initial distribution. If overall value is, say, 55p, we could see the share price hitting the upper 40s until a distribution, before slipping back to what the market perceives as the residual (post initial distribution) value, expressed in marcap terms (SP). In other words 15 - 20p, depending on expectations of future payouts (less costs of maintaining the company).

As for the initial distribution, will it be a cash dividend, buybacks, or a combination of both?

As we debate the outcome, and wait for the white smoke, I just can't see any reason why the share price should not return to the low 30s over the next few weeks. 35p is just a guess at this point. It may well be a higher initial payout and a lower residual.

So, if bidding does become competitive in the next few weeks we could end up with a scenario where a Western domiciled bidder offers an initial payout plus a delayed performance based residual vs. a straightforward cash bid from a Chinese operator. That would indeed make the whole thing interesting. In this sort of situation the share price could go all over the place, and it might even pressurise a Western bidder to match with its own all cash offer. This might well be the best outcome, out best chance of getting somewhere close to what the company is actually worth.

There are so many scenarios here. There are a few interesting weeks ahead."
Posted at 13/12/2023 16:52 by dexdringle
<<<<888ICB 13 Dec '23 - 15:54 - 11905 of 11908

The current share price is essentially irrelevant and saying the assets cannot be worth £1 per share just because the share price is currently 18p is not a rational argument >>>>>

The market is not irrational. Share prices correctly reflect all information which is available to all participants. There is no such thing as a 'bargain'....
Posted at 13/12/2023 15:54 by 888icb
The whole reason for the asset sale is that the share price is completely disconnected to the value of the assets and has been for years. The current share price is essentially irrelevant and saying the assets cannot be worth £1 per share just because the share price is currently 18p is not a rational argument.
Posted at 03/11/2023 00:01 by 888icb
The volume today was 395000 which means just £50000 has changed hands. This is very low volume but very high in CNR’s recent history. It is scandalous that the MM’s in their desperation to get some trading in this share have dropped it 7.5%.

There is no reason to believe there is a problem with the sale process.

But let’s remember the reason this sales process is being conducted as an asset sale. The board were clear from the start that the share price was so far removed from the value of Condor on any normal industry metric that they could not go for a share sale. This has only become more apparent as time has passed and the share price has fallen further.

The volumes are so low because most investors have taken their positions and are awaiting the completion of the sale process, which could become a share sale once the proper value is crystallised.

The share price at this point is totally irrelevant and we must await the completion of the sale process. It is impressive that there are no leaks about progress and those of us with any understanding of commercial negotiations know that any attempt at a running commentary by Mark would be counterproductive
Posted at 13/10/2023 14:43 by dexdringle
...because the CNR share price is not correlated to the price of gold by virtue of the fact that we don't have any and have no prospect of having any.
Posted at 05/10/2023 07:01 by oldiegoldie
We do not yet know what will be the underlying asset of a reformed / new Chinese or BRICS currency. It could also be something different, another precious metal or oil - who knows.

The problem is that world trade is done in US$, and as long as this is the case, nobody cares about other trading currencies.
At least oil would need to be traded in a new currency, before this scenario is plausible to materialise. This is maybe in the far future, but not for the next 10-30 years.
These hypothetical gold price calculations “debt / available gold” are total rubbish, sorry.
It is on the same level of analytical skills as believing CNR share price needs to go up xyz 10000% because the gold in the ground is xyz times more valuable than the MCap.

The next decades will be at moderate to high interest rates all over the world, gold is less attractive in this environment. All countries including China are addicted to debt, nobody wants a “hard currency”.
I am out of almost all my gold stocks. It took a while for me to understand, but the gold bug theories are nonsense, and I suggest you critically analyse them too.
Condor Gold share price data is direct from the London Stock Exchange

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