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ADVFN rumour: takeover @ 2-4 pence

I have bought around 5

 

Speaking of ADVFN rumour, suggested to me there may be a link to MCR one poster flagged this up from their market update

 

Potential Transactions

 

Recent volatility in commodity prices along with the uncertain financial climate has led to various high quality assets becoming available for acquisition or joint venture. Various promising mining sector opportunities have been identified and are currently being evaluated by Mercator.

 

Mercator is currently exploring a number of financing opportunities that would substantially improve the Company's ability to acquire and develop new assets.

 

Tenous link being Michael Silver director of Classdrive is Executive Chairman of MCR ;):unsure:

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Speaking of ADVFN rumour, suggested to me there may be a link to MCR one poster flagged this up from their market update

 

 

 

Tenous link being Michael Silver director of Classdrive is Executive Chairman of MCR ;):unsure:

 

http://www.miningweekly.com/article/condor...tion-2009-04-27

 

 

By: Liezel Hill

27th April 2009

 

 

TORONTO (miningweekly.com) – Aim-listed Condor Resources believes that there is a link between the mysterious Classdrive, which has indicated that it may offer to buy Condor, and a requisition received last month for an extraordinary general meeting, the firm said on Monday.

 

Condor is trying to gain more information about Classdrive and its intentions, and is urging shareholders to take no action for now.

 

Classdrive is a dormant 'shelf' company, and Condor has been informed by Classdrive's advisers that the company's directors are Michael Silver and Mark Campbell and that they, together with an unnamed consortium of “potential investors” will be the shareholders of the firm.

 

“Condor has responded, requesting details of the background and rationale for a proposed offer, the terms of such an offer and the resources by which Classdrive would fund this, as well as the details of the consortium of investors supporting the two directors of Classdrive. To date, such information has not been forthcoming.”

 

Classdrive's announcement that it is considering making an offer for Condor comes less than a month after Condor received a requisition for a general meeting, to propose replacing the company's chairperson and another director with Michael Silver and Michael de Villiers.

 

However, the requisition, which was received on March 30, was withdrawn last Monday.

 

Given that Michael Silver is one of the two directors of Classdrive and was also one of the proposed directors of the company under the requisition, the company believes that the approach and the requisition are connected, Condor said in a statement on Monday.

 

The company added that it will consider a potential approach on its merits.

 

Condor is exploring for precious metals in El Salvador and Nicuaragua.

 

>>>

 

Michael Bernard Silver B.Sc.Eng. (Hons) - Executive Chairman

http://www.mercatorgold.com/about_directors.htm

 

Michael Silver was appointed as Chairman on 28 July 2008. He has broad and detailed experience in civil engineering including thirty years experience in the mining industry. He is a Member of the Institution of Engineers of Australia. Mr Silver founded Highlands Mining Ltd in 1968 bought in 1970 by Quest Mining and Exploration. He was involved in starting the Telfer gold mine for Newmont Australia and numerous other operations. Subsequently was involved in developing mines as a Principal and in conjunction with other Public Companies and was involved in numerous capital raisings.

 

His operational experience in the mining sector in Australia and Overseas encompasses most of the minerals mined in Australia. As a direct result of developing these projects Michael Silver gained broad ranging management experience and involvement in many businesses associated with the resource industries gaining corporate experience in the development and funding of six public companies, Quest Mining and Exploration Ltd, Southern Goldfields NL, Regent Mining Limited, Marino Ltd, Dome Resources Ltd and Harrington Group Ltd. His oil industry experience was acquired during his tenure as the Chairman of Drillsearch Oil Limited.

 

Public Company Board positions have been held in over ten publicly listed companies over the last thirty years. These have ranged from non-executive to executive roles and included chief executive and chair positions in both Australian and Canadian companies.

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Condor Resources: Grant Of New Concession In Nicaragua

 

Last update: 2:43 a.m. EDT May 6, 2009

LONDON, May 06, 2009 (Dow Jones Commodities News via Comtex) -- Condor Resources PLC (CNR.LN) announced Wednesday successful application for a new concession which shows surface evidence of gold mineralization extending over a distance of at least 4 kilometers. The prospect is adjacent to Condor's 100% owned Cacao Concession.

MAIN FACTS:

-The new concession, named Santa Barbara, covers an area of 16 square kilometers adjacent and to the east of Condor's 100% owned Cacao Concession.

-The Cacao Resource calculation was restricted to a 600 meter strike length where gold-bearing quartz veins are exposed at the surface and consequently amenable to trench sampling.

-This area has been drill-tested to a maximum of 120 meters' below surface, with twenty-two drillholes for 2,170 meters, including 697 meters of diamond core, supplementing over 1,000 meters of trenching completed since 2006.

-Limited reconnaissance work by previous explorers reported rock chip samples assaying at over 1g/t gold at both sites, as well as evidence of recent small-scale artisinal mining activity.

-Further exploration on the Santa Barbara and Cacao concessions will target significant expansion of the resource along the Cacao structure, and establish Condor as a major stakeholder in La India Mining District.

-Historically reported non-JORC compliant estimates of the remaining 'inferred' resource in this district vary between 280,000 and 400,000 ounces of gold grading at over 8g/t.

 

http://www.marketwatch.com/news/story/dj-c...&dist=msr_1

 

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Another spike up, another down etc this ones getting a bit of a yo-yo.

 

Eventually the chart develops into a cup-handle formation ? This could be a positive signal.

 

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Eventually the chart develops into a cup-handle formation ? This could be a positive signal.

 

All to be settled by Jun 2nd, chunky trading again today.

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Yet another trading spike err opportunity ;):lol:

 

14 January 2010 @ 09:08 am BST

Central American gold and silver miner, Condor Resources saw its share price jump more than 60% in early morning trading after the company announced that it has been granted two new concessions in Nicaragua.

 

The Group says it has a further five concessions pending approval in Nicaragua and is reviewing other opportunities to increase its concessions in the country as well as the prospect of acquiring a small operating gold mine.

 

The share price was marked up 0.25p to 0.65p - up 62.5% since the market open.

 

http://www.ibtimes.co.uk/articles/20100114...ce-jumps-60.htm

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off today tho.

 

Just trading the spikes! Look at the chart just over a year, it often pulls back of late. It's the spikes that got me out of jail with these last year.

 

Mind that sentiment does not go down well on ADVFN, nor if you make comments like compare the last 2 minesite articles; one year apart and until these concessions not much happened bar fend off a takeover attempt.

 

Yes probably harsh, but liked Nigel Ferguson he was very communicative, didn't like him being shunted aside. Waiting for these to really do something other than the above and spike on the ADVFN ramping crews - which is why I don't post on the thread there anymore, but still see Conrad does occassionally.

 

Meantime see if/how far it goes sub 0.50 to buy in size before having another play.

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i have gcm resources as my biggest play. that could be taking off now as there might be approval for phulbari etc etc if so they i will probably catch up on condor. i struggle to find small gold stocks with highish grades and decent sized resources, so if you can let me onto any particularly on the asx or tsx. i was watching robust resources but that has gotted away from me now. i recon there will be a placing int he next six months and if i have cash i might look to get in for the nicaragua assets and an optionon el sal which i think will come round in time, but that might take a year. what do you think? i have exchanged emails with mark in the past, he is friendly enough for a former banker and can no doubt handle the corp stuff and the company is really just a matter of effectively drilling out the existing finds to see what is there, and maybethe in country geologists can find some more if we are lucky.

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CNR still have a lot prove for me, also wary of dilution, so just watch for trading opportunities. Don't know M.C, may be a nice guy, but N.F was very straightforward in responses.

 

Good luck with GCM

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Cerro Quiroz is located along the Libertad-Santo Domingo gold mineralisation corridor, and represents the eastern extent of gold mineralisation discovered to date in this broadly east-west orientated epithermal gold system. According to Condor, the Cerro Quiroz vein was discovered in 2003 by Canadian explorer Chesapeake Gold Corp (TSX-V: CKG) which defined a north-south trending quartz vein grading up to 17.8 grams per tonne gold over more than 1500 metres strike length.

 

 

>>>> http://www.chesapeakegold.com/downloads/Ch...07_03_23_43.pdf

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hope, it will end positive for all in 2- 3 years

 

my position buyed for 0.07 BPC

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Condor Resources flying high on the potential of La India project

c`mon baby :-)

I have some of this one too

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what you thinking now CV?

 

advfn post:

 

robson1975 - 12 Dec'10 - 16:03 - 131 of 166

 

 

3 Major Reasons why Condor Resources could be worth 30-50p/share within 1-3 months...

 

1. Possible Growth in JORC resources of Gold from 0 to 2-3m oz on the basis of 'a few strokes of a pen'...

 

Highly unusual that a company can grow a resource so quickly because drilling and interpretation usually takes a lot of time but Condor Management have collated lots of research done by several previous explorers and one of their resources has already been proved up and is simply awaiting the overturning of a Government moratorium. 4 separate significant material JORC announcements due :

 

i. La India (80% owned : 20% owned by $900m Canadian miner B2Gold (TSX:BTO)) awaiting JORC-ification by Dec 31st on existing 1.84m oz Russian specification resource. That Russian resource once converted to JORC standard could be worth 20p per share on an 'Edison' valuation basis.

 

ii. Rio Luna (plenty of good grades including 450g/tonne)

 

iii. El Rodeo (2km strike length, sampling/drilling programme currently underway)

 

iv. El Salvador 1m oz Gold and Gold equivalent (i.e.silver) resource equivalent to one third of Arian Silvers (AGQ) silver resource - currently being discounted as El Sal have a moratorium on mining but a simple decision by the El Sal Govt could see 1m oz of potential value accruing to CNR (i.e. 10-15p on Edison value basis?)

 

 

2. Relative valuation versus other AIM explorers at similar stages of development...

 

HUM Hummingbird Resources (Liberia) listed on AIM 9th Dec 2010. Mkt Cap £90m for 0.8m oz resource (Indicated & Inferred)

 

NYO Nyota Minerals (Ethiopia). Mkt Cap £130m for 1.3m oz resource (Inferred)

 

CNR Condor Resources (Nicaragua & El Salvador). Mkt Cap £30m but potential for 2-3m oz of (Indicated & Inferred resource within 1-3 months).

 

 

3. Direct comparison with acquisitive partner in Nicaragua which would provide quick and easy route to 'monetisation' of Condor's value

 

B2Gold (TSX:BTO) is a $900m mkt cap Canadian miner with an existing 3m oz resource in Nicaragua and is partnered with Condor on two concessions (one 80:20 the other 80:20). B2Gold is the second vehicle for the Management who previously sold Bema Gold to Kinross for $3bn+.

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