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CNR Condor Gold Plc

2.25 (16.07%)
05 Dec 2023 - 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
  2.25 16.07% 16.25 921,659 16:00:12
Bid Price Offer Price High Price Low Price Open Price
16.00 16.50 17.00 14.00 14.00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Gold Ores -2.53M -0.0140 -11.61 29.38M
Last Trade Time Trade Type Trade Size Trade Price Currency
16:27:10 O 30 16.50 GBX

Condor Gold (CNR) Latest News (3)

Condor Gold (CNR) Discussions and Chat

Condor Gold Forums and Chat

Date Time Title Posts
05/12/202316:15Condor Gold plc11,869
13/4/202314:22Mc pony talk1
16/9/202014:26Precious Metals Summit Conference -
26/7/202023:20Condor 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

Condor Gold (CNR) Top Chat Posts

Top Posts
Posted at 05/12/2023 08:20 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 14p.
Condor Gold currently has 180,790,824 shares in issue. The market capitalisation of Condor Gold is £29,830,486.
Condor Gold has a price to earnings ratio (PE ratio) of -11.79.
This morning CNR shares opened at 14p
Posted at 05/12/2023 13:44 by book5
cnr needs more millions to short out the land, and the coffers are empty for that
No land, no binding offer
india is worth very little without the whole land
Someone will need to buy it, either cnr or the new buyer, or the government will take cnr for a song
Posted at 05/12/2023 13:23 by 888icb
Finally something to comment on as we have actually had an update. The sales process continues and there is very important new information in the RNS:
“ the Company is in advanced discussions with 2 gold producers”
“ Jim Mellon, Chairman of Condor Gold, commented:

"I continue to be impressed with the asset sale process. We are very aware of the value of our assets and will maximise value for all shareholders. My investment of a further £1M is designed to ensure sufficient financial runway during the sales process until a desired price is achieved."

So a very clear signal of good progress with those advanced discussions and Jim providing another £1 million by exercising his warrant at the same price as the last placing, to ensure there is a sufficient cash runway to get to his desired sale price.
There can be little doubt that his desired price is multiples of 15p and the share price should now start to rise back towards 30p as we await further news. The last 12 months have been difficult for all junior gold companies and indeed resource companies generally. The recent strength in the gold price which looks to be sustained has to be a very positive factor for the advanced discussion as gold is now above the gold range used in Condors original sales pitch and BFS.
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 13:43 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 06:01 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.
Posted at 20/9/2023 10:32 by book5
despite yesterday gold discovery announcement, calibre share price went down almost a 4%
mako share share price performance has been terrible for shareholders
market hates nicaragua
Posted at 11/9/2023 07:40 by book5
Hi Connect,

Sell all Cnr to secure some of your savings?. Is that the correct question?

A more accurate would be, shall I hold 100% of my equity investments in Cnr shares?

I don't believe anyone would advise you to hold all your shares in Cnr, as that could lead to catastrophic losses
SOme Ftse250 companies have been hammered, and IMHO you could invest in them part of your savings to spread the risk and hopefully recover your losses accumulated so far in Cnr:

Hoc: (left wind government in Peru; the country has gone through a crisis, now it looks more stable)
Cwr: (technology, soon will raise to the fts250)
Fxpo (Ukraine, the one with most risk)

You could keep some in Cnr

None of the above are for widows and orphans. Probably CWR is the least risky of all of them, at least in the short term.

A possible distribution of funds:
hoc 15%
cwr 50%
fxpo 10%
cnr 10%

others 15%

The above will probably be safer and keep you on the game for a longer time, giving you the chance to recover your investment in the long term.

It would be devastating to hold Cnr for so long, sell them, and then see the Sp go to the 30s or mid-40s. But it would be worse to see the share price even lower by a new capital raise, or worse.
We still hold some Cnr, but fewer than before. And cnr is not our worst share.
Overall, I have never made money in the stock market, a loss of time for me, so i am not the best to advise you, but a note of caution if you hold majority of your savings in cnr. careful.

To the rest of you here, please let Connect and I have your thoughts.

Posted at 08/9/2023 06:18 by zangdook
"they sold the asset exactly for the MCap"

I think you're looking at the MCap post sale announcement. Before the sale the MCap was substantially less, but when you announce a sale of all your assets for above the current MCap it's natural that the MCap will increase to reflect the incoming cash (if there's a prospect that the shareholders will see the money, which doesn't necessarily apply to CNR), and that's more or less what happened with AMC, to the extent that you could buy a share for 1.81p in anticipation of a dividend of 1.8p*. Since it was in legal terms a dividend and not a return of capital (although in reality it was obviously the other way around), it was quite useful for people with certain tax complications who wanted to turn capital into income. Plus at ex-dividend the share price rose from (1.81-1.8=0.01p) to over 0.2p - a nice profit if you did it in size.

* The share price at this point was reflecting the dividend, not the cash which was higher but evidently there wasn't much confidence it would find its way to shareholders. Ex-dividend, it looks as though buyers moved in hoping for some M&A activity using the remaining cash, hopes which are so far unrealised. Probably it will gradually disappear into directors' pockets, like much of our cash at Condor.

Having said that, credit to AMC for rescuing something from disaster and getting $35m out of Russia. It may be that the Russian situation made the "take over the company to get the assets cheap" route impractical for the buyers, so it's not a perfect parallel for CNR.
Posted at 07/9/2023 21:25 by oldiegoldie
The NPV10% of the sold asset of AMUR was apparently 628M$
The shareholders rejected a 105M offer a while ago and now accepted a 35M offer.

What again was the NPV of La India? I think they gave 418M at NPV5% (which is unrealistic, but I didn’t find a NPV at 10% discount). anyway, divide it by ca 20 to have a comparison to AMUR and you end up with 20M (at 5% discount, probably 15M at 10% discount)

So 20M asset sale price, minus fees, at the end maybe 12-15M to distribute, ca 187,5M shares issued, makes around 8-10 p per share special dividend for lucky CNR shareholders after La India sale.
Currently 21 p minus 10p makes 11p remaining - but for what? Once La India is sold, there is nothing left.
The current CNR share price should therefore rather be around 10 p
Posted at 16/6/2023 08:22 by 888icb
Here is a post yesterday from lse by Dictumdedicto which is much more interesting than the pointless deramping:
“ June view15 Jun 2023 20:53
It's just not worth checking CNRs share price on a daily basis. 7 trades today. It looks like the MMs are having trouble getting people to part with their shares. They've certainly tried with some pretty large price reductions, albeit the volumes seem to increase more when the price goes up vs. down. Gold still looks wobbly which may explain the preference to reduce the price vs. increase it. Having said that, there doesn't seem to be much of an appetite to buy from prospective investors. The ducks might be paddling furiously underwater, but nothing seems to be going on at the surface - nothing to announce.

The silly summer season is almost upon us. Holiday time, people away, eyes off the ball; fun is the order of the day. For me the least likely time for a hard bid would be August, but given the elapsed time already, anything could happen.

Current prices (mid 20s) imply not much more than a break-even valuation. In other words a zilch return for the last dozen years. I still can't see MC/JM finding this even remotely acceptable.

I've not been posting because there really isn't anything helpful to say. All we have are a few naysayers on one side and speculation on the other. The MMs don't give a toss what we think and will play the share price as they think fit.

Frustrating innnit?

'It's always darkest before dawn'. Don't let impatience, or the MMs working the SP, force you to part with your slice of the company. Anything can happen at any time. Sure, it might be September, but then it could be tomorrow.

'Money is made by sitting, not trading'

Jesse Livermore”
Condor Gold share price data is direct from the London Stock Exchange

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