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:
