Tuesday 23 October 2018 | ShareProphets: The one stop source for breaking news, expert analysis, and podcasts on fast-moving AIM and LSE listed shares
My old friend Jim Mellon claims to be worth £800 million although I rather doubt that (by a long chalk). But he is certainly worth a bob or two and that brings us to news today that he has bought 50,000 shares in Condor Gold (CNR) at 39.5p. I say Spoooooooooooooooooooooooooooof - placing ahoy!
Social Justice campaigners SumofUs have taken on mining giants before and, as Newmont discovered, won. Now the campaigners want perennially cash strapped AIM dog mining minnow Condor Gold (CNR), which is backed by my old friend Jim Mellon, stopped from abusing and bullying Nicaraguan peasants as it tries to develop the low grade La India mine. 64,467 folks (including me, sorry Jim) have already signed the petition. SumofUs does not hold back in its critique...
Condor Gold (CNR) has still to inform its long suffering investors of the enormous opposition it faces on the ground as it tries to develop the La India gold mine in Nicaragua. Perhaps it is because CEO Mark Child knows that his company is acting like fascist bullyboys in the way they deal with poor local peasants. Child's actions probably impress his offshore based asset stripping millionaire mates but in the wider world the mood is changing and robber capitalism is not so cool any more. So what is overpaid and underperforming Mark not telling you?
It seems that jam tomorrow, cash guzzling, gold play Condor Gold (CNR) is having a few problems with the locals as it pretends that it is going to develop the low grade La India project in Nicaragua a mine that has been closed for more than twenty years after a 1995 flood. Oddly the company has not got around to telling investors about this via an RNS. But in case hapless boss Mark Child is too busy to do this, let me help.
Sorry if my good friend Jim Mellon feels if I am picking on him today but moving on from Port Erin (PEBI), the old boy (60 in a few weeks) has also been active at Condor Gold (CNR), the dog where he sits as a NED. Hang on tight folks, this related party trail is getting confusing.
Back in September ailing AIM listed gold dog Condor (CNR) announced that it was undertaking a strategic review and was in an offer period. Today it says both processes are over. It was bollocks from the start, you can't polish a turd and this company - of which I have been a long term bear - is screwed. It is almost game over. It will be lights out in May.
If the current financial markets environment is not conducive to Gold being a safe haven, then nothing is. One decent example of this is Condor Gold in the aftermath of a bear trap rebound from below 20p and the worst levels of the past year.
John Meyer of SP Angel this morning comments on Condor Gold (CNR), Metals Exploration (MTL), International Ferro Metals (IFL), Kaz Minerals (KAZ) and Petra Diamonds (PDL) as well as offering a detailed macro view on the news that is shaping global mining and the AIM mining pond.
Another day and another utterly transparent ramperoonie waste of space announcement from Condor Gold (CNR) ignores the fact that the company will be insolvent shortly after Christmas, ceteris paribus.
John Meyer of SP Angel this morning comments on Amur Minerals (AMC), Anglo Platinum (AMS), Condor Gold (CNR), Gelncore (GLEN), Kefi Minerals (KEFI) and Minera IRL (MIRL) as well as offering a detailed macro view on the news that is shaping global mining and the AIM mining pond.
Over on the ADVFN Asylum, Condor Gold (CNR) Thread the poor saps are wondering where their money has gone. Of course …it is all my fault that the shares have cratered from 200p to 51p sending £70 million to money heaven.
John Meyer of SP Angel this morning comments on Condor Gold (CNR), Paragon Diamonds (PRG) and Zanaga Iron Ore (ZIOC) as well as offering a detailed macro view on the news that is shaping global mining and the AIM mining pond.
John Meyer of SP Angel this morning comments on Bezant Resources, Goldplat, Condor Gold and Hummingbird Resources as well as offering a detailed macro view on the news that is shaping global mining and the AIM mining pond.
Condor Gold (CNR) has seen its shares slump from almost 200p to just 69p over the past two and a half years despite winning prizes for presenting to investors more often than almost any company on the AIM Casino. But even at 69p the fact is that it remains a truly rotten investment as it prepares for its next placing. And here is why.
Mark Child, chief executive officer of Central America-focused Condor Gold (CNR), is preparing the ground to seek key environmental, infrastructure and water permits to enable the company’s La India epithermal project in mining-friendly Nicaragua to start producing in two and a half years from a total potential resource of 2.3 million oz. with a robust average grade of four grammes of gold per tonne of ore. He suggests this process could take two months while AIM-quoted Condor moves to buy surface rights at La India across 700,000 hectares for $700,000 and strives to make the project attractive to potential joint venture partners or bidders ahead of production.
Mark Child, the former corporate financier who steers Central America-focused AIM company Condor Gold (CNR), draws encouragement from latest trenching results at the company’s La India mine re-launch project in the east of Nicaragua. He and his fellow directors now await the completion of a pre-feasibility study, expected in September. Condor, where Child and the Hong Kong-based Regent Pacific mining group hold around 10 per cent each, says a preliminary economic assessment last year suggested La India, an epithermal gold deposit from which US miner Noranda produced up to 40,000 oz. a year until 1956, still held 2.33 million oz. This is with an average 3.8grams of gold per tonne of ore, of which the firmer ‘indicated’ category was 1.1 million oz. with 3grams a tonne. Child argues the trenching has confirmed previous work done by the Americans and high-grade artisanal miners’ workings.
Condor Gold has announced the results from the latest metallurgical tests on ore samples from its 2.4Moz La India gold project in Nicaragua.
Without wishing to deliver the kiss of death to Gold and Gold stocks, it does appear that currently after nearly two-year is in the doghouse, it may be safe to come out of the cold if you are a fan of this particular asset class.
Edison Research is paid by companies to churn out research so it is not exactly impartial. None the less for uber-posh analyst Charlie Gibson to claim that a stock trading at 96p is in fact worth 614p per share is a bit of a big call.
The question here at Condor Gold is whether on a charting basis you could argue that the stock is a buy? The answer is on balance, yes, but that does not mean that one would be rushing in with unbridled enthusiasm.
Broker Ocean Equities has today published a note on AIM listed Condor Gold (CNR) as the company released the results of its infill drilling programmes at the La India project targeting potentially open pittable gold mineralisation at the La India Vein Set and America Vein Set areas. Ocean states:
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