Share Name Share Symbol Market Type Share ISIN Share Description
Condor Gold Plc LSE:CNR London Ordinary Share GB00B8225591 ORD 20P
  Price Change % Change Share Price Shares Traded Last Trade
  0.25 0.6% 42.00 1,203,890 15:42:29
Bid Price Offer Price High Price Low Price Open Price
41.50 42.50 43.75 41.75 41.75
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Mining -1.52 -1.86 40
Last Trade Time Trade Type Trade Size Trade Price Currency
17:06:42 O 180,000 42.00 GBX

Condor Gold (CNR) Latest News (2)

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Date Time Title Posts
29/5/202016:37Condor Gold plc2,474
07/5/202000:17Condor Resources - Flight of the Condor in 2011?15,160
04/12/201820:40Condor Resources with Charts292
03/9/201807:29Condor - exciting new gold play94

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Condor Gold (CNR) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
2020-05-29 16:06:4242.00180,00075,600.00O
2020-05-29 15:41:3341.6050,00020,800.00O
2020-05-29 15:26:3842.009640.32O
2020-05-29 15:26:1342.505,0002,125.00O
2020-05-29 15:23:5742.505,0002,125.00O
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Condor Gold (CNR) Top Chat Posts

Condor Gold Daily Update: Condor Gold Plc is listed in the Mining sector of the London Stock Exchange with ticker CNR. The last closing price for Condor Gold was 41.75p.
Condor Gold Plc has a 4 week average price of 30.50p and a 12 week average price of 21p.
The 1 year high share price is 61.50p while the 1 year low share price is currently 16.50p.
There are currently 95,163,522 shares in issue and the average daily traded volume is 2,063,611 shares. The market capitalisation of Condor Gold Plc is £39,968,679.24.
888icb: When making comments about directors getting cheap shares one should bear in mind the history of this company and how much people such as Jim Mellon have invested at much higher prices over the years to keep the lights on. As an example I just quickly found a placing in 2014 when he paid 90p per share. Directors like Jim and other investors need a much higher share price just to break even. They have shown continuing support for the company and at the moment investors can buy shares at a similar price to the placing shares if they want to do you can get the same deal as the directors but it won’t last long.
1airbag: Gold stocks are in favour at the moment. + condor share price has been supressed for ages. In this since summer last year but happy to have been patient now. MC has been saying for sometime that this share was undervalued when compared to others in the sector.
bomber13: Condor's equity placing at 20p per share on 8th July last year brought in £4m gross , of which Jim Mellon accounted for £1.25m to become a 14.9% shareholder , and Nicaragua Milling accounted for £1.97m to become a brand new 10.4% shareholder . These two subscriptions represented 80% of the placing , and , without their support , Condor would have struggled . Soon after , it was no surprise to learn that Numis had been replaced by share price Angel as Condor's broker . With the Condor share price having closed above 30p for 10 consecutive days now , 50% of the warrants issued in that placing will now be subject to an accelerated exercise at 25p , amounting to the equivalent of 3.365m new shares or £841/- . What will be very interesting to watch is whether Jim Mellon , a non-executive director , and Condor's largest shareholder , and possibly Nicaragua Milling , Condor's second largest shareholder , both decide to exercise ALL their warrants at this time , thereby giving Condor extra cash to help oil the wheels towards mine development ? They will be aware , as we all are , that Condor is grossly undervalued , and the last thing they would want is for a cheeky bid to have a chance of success .
bomber13: It has been a tremendous few weeks for Condor , and at a share price of 42p , the market cap is US$50m , net cash is a pro-forma US$4m assuming imminent early exercise of warrants , and both environmental permits for the high grade feeder pits at America and Mestiza are in the bag , which , added to the main La India permit , makes a total of 1.1m oz of gold resource permitted for extraction by open pit mining . That figure is just under half of Condor’s total independently validated 2.5m oz resource , and in a district which is confidently expected to host over 5m oz of gold . Hence , once the balance of freehold land is bought ( Condor now owns up to 70% of the land ) , and the engineering / mining studies have been completed , the project will be oven ready for construction by Q4 2020 . Condor has steered us via RNS’s and presentations as to how the project might play out in terms of timing , financing and structure , and we are promised a more definitive statement within 2 months . Initially , the most likely strategy will be a high grading of the project via the 2 high grade feeder pits and part of the La India pit for an annual production of around 50/- oz pa for 5 years , which would in turn pay for the subsequent expansion of the entire La India open pit to 120/- oz pa of production . Whether a toll deal with ANOther , probably/definitely Calibre Mining , will form part of the initial mining process remains to be seen , but Condor’s other options are buying a new 1000 tonnes per day plant from China for , say , US$40m with the scope to expand capacity when required , or buying a second-hand larger plant for the same sort of money , and reassembling it on site . Such expenditure is likely to be funded 30% by equity and 70% by project finance , and take 12 to 18 months to build . Condor is fortunate in having 2 billionaires amongst its top shareholders , and , according to Mark Child in the latest webinar , its largest shareholder with 15% , Jim Mellon , has indirectly indicated his wish to increase his stake .............and you can see why . In early March , Condor released details of the high grade open pit mining scenario compiled by SRK Consulting , and in these mining dilution studies , SRK came up with a total of 1.6m tonnes of ore from the 3 areas at a head grade of 4.65g/t for 245/- oz of contained gold . No cost modelling was released to the market at the time , but we know from subsequent presentations by Mark Child that the total cost per tonne of ore in a 1000 tpd plant including all mining , processing and S G & A expenditure is expected to be around US$55 with gold recoveries in the 92% region . Given those metrics , the cost per oz produced would be around $323 at Mestiza , $485 at America and $433 at La India's mini pits , giving an unweighted average of $414 per oz . As a result , if you take the current gold price of US$1700 and the unweighted average cost per oz of $414 , the margin would be around US$1300 per oz and the EBITDA US$65m in a full year of production . Moreover , there would be no tax to pay until all capital expenditure is recovered . On that basis , might Condor not recoup the entire capital spending on the plant within its first full year of production ? Time for the Condor to soar ?
bomber13: Great news this morning and the promise of more to come . The Mestiza open pit brings 36/- oz of contained gold in the Indicated category at a grade of 12.1 g/t ( over 1/3rd of an oz ) , and 85/- oz of gold in the Inferred category at a grade of 7.7 g/t . This in turn adds to La India’s already permitted open pit resource of 837/- oz at 3.1 g/t in the Indicated category , and 68/- oz at 2.4 g/t in the Inferred category . Following Mestiza’s permitting , Condor now has over 1m oz of permitted open pit resource at its La India project thereby improving mining flexibility , project economics and life of mine . When the permit for America arrives , this will add a further resource of 30/- oz at 8.1 g/t in the Indicated category , and 67/- oz at 3.1 g/t in the Inferred category . Condor is running a number of mining studies ahead of a construction decision to see how best to optimise the mining of both the feeder pits and the main La India orebody . It does , however , categorically state that the Mestiza open pit ( and probably the America pit as well ) is likely to be mined early on to reduce the payback period on the plant and equipment , and improve the internal rate of return . This may be done either via a toll agreement with AN Other or the construction of Condor’s own 1000 tonnes per day plant costing , say , around US$40m . All in sustaining costs for Mestiza/America should be lower than the main La India prospect because of their higher grades , and , if one takes the original 2014 AISC forecast of US$690 for La India made in 2014 when gold was US$1250 , and both diesel costs and the Nicaraguan currency were considerably higher , all in margins at a US$1700 gold price would be over US$1000 per oz for the 2 high grade feeder pits for a total production of just under 200/- oz of gold , 111/- oz for Mestiza at an average recovery grade of 5.8 g/t , and 80/- oz for America at an average recovery grade of 3.8 g/t . A pre- CAPEX undiscounted potential profit of US$200m at a constant gold price of US$1700 , and before any of the 800/- oz of contained gold in the main La India open pit has been touched , is a considerable carrot . Condor’s net cash at end 2019 was £2.9m , and it is due US$500/- from the sale of the Potrerillos concession to Mako Mining by May this year . Moreover , the company has £2.82m of outstanding warrants exercisable at 25p and 31p , and 50% of the 25p warrants are subject to an accelerated exercise if the mid-market share price closes above 30p for a consecutive 10 trading days , which means a potential £841/- could be raised in the near term . Fingers crossed , therefore , we leave 30p way behind . Condor’s CEO has described the Mestiza permit as a significant development , and I would agree . He has already announced his intention to do in-fill drilling on the prospect prior to production , and this together with ongoing buying of freehold land and the engineering studies will make the entire La India project oven ready for exploitation by the end of 2020 . With the permit for America due imminently , discussions regarding a potential toll deal can start in earnest . After all , a 1m oz permitted open pit resource with gold at US$1700 , and AISC forecast at US$690 , means there is a potential US$1bn of profit in the ground . At 34p , Condor’s market cap is still only £32m , and this value stands at about 1/3rd of its peer group's level .
pugugly: Forget the PR news - restructured plans - current share price moves just brownian movements - As management know the only factors that will significantly move the share price to a new upper level is the start of mining and production of the yellow metal or of course a realistic bid. So repeat after me - What do we want - PRODUCTION OF GOLD - WHEN DO WE NEED IT - NOW. or certainly within a believeable time frame.
888icb: There is an interview with an analyst on Proactive Investors this morning who has done a research note on Condor. The interview is very positive and of particular note is his view on the share price. He said if one compares it with similar gold companies listed in London Condor is very undervalued and should be trading at £1.70 to £2.10 per share. That is a 7 or 8 bagger from this mornings share price I think he is right so let’s hope the market sees it and we see a major rerate of Condor.
888icb: The IFC has confirmed in writing that it has completed its divestment of Condor Gold plc, see attached released today. This is due to a change of investment strategy, the IFC has exited over 20 exploration companies including: Hummingbird, Lydian, Rio Tinto/Simandou, Aureus, Unigold. The former IFC Head of Global Mining and the number two left a couple of years ago. The new head of Global Mining only wants to invest debt in very large projects. The IFC has been delighted with the operational performance of Condor Gold, being granted the permits to construct and operate a mine, gaining the social licence to operate, expanding the mineral resource, expanding the permits for the feeder pits, expanding the concession package etc. Condor has been providing the IFC with a quarterly Environmental and Social Report, when only an annual report is required. The latest Q1 2019 report has been edited for our website: hxxp:// The IFC started selling its 5.5M shareholding in January 2019, see announcements, it has gradually sold its entire shareholding in the market, which has suppressed the share price. Furthermore, City Financial went into administration in March 2019 and was a forced seller of a 5% shareholding in Condor in the market. The overhang of shares is now removed; is is encouraging that the market has absorbed selling of over 10% of the Company’s shares. Both share sells are for reasons specific to the sellers and unrelated to the assets of the Company, which are in excellent shape and never been better. I suspect the IFC selling marks the low in the share price. The above statement from Mark Child is why IFC sold. Nothing to do with villagers in Santa Cruz or people not wanting the mine.
bomber13: Immediate cash requirements at Condor have been hugely relieved by the £4m fundraising done at 20p end July , which together with the £500/- of net cash held at end June , should cover normal everyday expenses at least until the the middle of 2020 . We will know more about cash burn and current net cash with the Q3 results due in mid-November , however . What is slightly more exciting is what happens if a strategic transaction should now occur . Whether , hypothetically , this took the form of a toll deal , joint venture , or farm-in , or eventually a combination thereof , this catalyst should not only give Condor easier access to project capital , and therefore much needed wherewithal to build the La India mine , but it should also have the desired effect on the share price . This is vital , because , looking at the amount of outstanding warrants , the share price needs to get above , and stay above , 30p in order to push as many warrants as possible into the money . If you exclude the £1.9m of warrants at an exercise price of 65p expiring end March 2020 , which may be an unrealistic aspiration , there are loads of warrants between now and July 2022 worth a total of £2.8m exercisable at 25p and 31p . Moreover , under the terms of the recent fundraising in July , 50% of the outstanding 6.73m warrants issued are subject to an accelerated exercise should the share price close above 30p for 10 consecutive days . Should this clause be triggered , it would allow the scope for raising an additional quick-fire £841/- . Were all of the above to happen , success would quickly feed upon success , and I for one will drink to that .
cf456: Yes, decent buying again today. Looking more and more like the start of a new uptrend on the chart. Jim Mellon clearly very keen loading up so frequently recently, with his £1.25 million investment last month particularly telling. He is bullish gold and there is certainly a lot of upside to the CNR share price, especially in the current environment. --- "The boat is leaving and there is just enough time to jump on the gangplank The same applies to silver and, possibly, palladium, but gold is easier and there are lots of ways to play it, physical, futures, ETFs, and gold miners. Barrick (NYSE: GOLD) is good, as is mining minnow Condor Gold (LON: CNR) here in London, where I am a director and shareholder. So that’s a pretty easy trade – sell those bonds (especially given my forecast that disaster lurks under the surface of the frantic machinations of the ECB to avoid a full-blown crisis in Italy), and buy your own flavour of gold." hTTps://
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