Guys, I've been holding for a while now. This is a long-term stock not a daytrader stock. I feel bad for those who dumped in frustration at absurd low levels. I might repost what I posted earlier.
Here's why I will be staying in regardless of what happens, for old and new readers alike:
- Market Cap at current levels ~ $5 million (nano) about 120m (someone confirm this) shares on issue.
- Carachapampa project in world-class Maricunga Belt in Chile. 50 million ounces of gold, 89 million ounces of silver and 5 billion pounds of copper have been defined in the Belt since 1980.
- Carachapampa tenements adjoin Kingsgate to the west and Kinross to the south, the largest conductor locates under thin cover which has not been tested by drilling (well, until now… drilling finished end of March, waiting on results)
- Marianas Magnetite Tailings Side-Project, 50% interest, production 30,000t/month with a forecasted mine life of 5 years. Net Present Value of at least $50 million+.
- Off-take agreements in progress with Changes Investment Guarantee (China) Company and Jiangxi Hongyang Copper Company Ltd for the sale of this iron ore. Sales will fund drilling and exploration.
- Conservative estimates of US$12 million each year, or about $1 million a month, based on $80 iron ore price (how did they pull this off I can hear you new people asking? This project was acquired during the recent weakness in iron ore price, which allowed favourable terms & conditions during negotiation)
- We are very fortunate to have secured this as the iron ore price since rebounded. Revenue will naturally scale up as a consequence.
- Condor has received considerable interest from a number of major companies in potential joint ventures over its Gold Iron and Yaretas porphyry copper projects. Interested parties have visited the sites to inspect (probably North American and Australian entities)
- Both the Yaretas and Gold Iron projects represent very large and untested high-level porphyry alteration systems.
- An expression of interest has also been received to purchase the Cautiva-Victoria and Fenix (IOCG projects in the Chilean Iron Belt - which hosts a number of world class iron oxide/copper gold deposits) with negotiations in progress.
- You get all this for 5 cents, it should be 20 cents which is what it floated at in 2011. Was 14 cents back in September 2012.
The website is a good source of information, as are the Annual Reports.
CDB Price at posting:
3.4¢ Sentiment: LT Buy Disclosure: Held
