RE:I would put pretty good odds that cxb will buy cogTheir PEA is 4 years old. Their 2022 FS which wouldn't reflect current costs:
• Production averages 81,545 oz gold per annum for the first 6 years of an 8.4 year mine life
• An Internal Rate of Return (“IRR”) of 23% and a post tax, post upfront capital cost NPV of US$86.9
million using a discount rate of 5% and price of US$1,600 oz gold (Mineral Reserve Case).
• An Internal Rate of Return (“IRR”) of 43% and a post tax, post upfront capital cost NPV of US$205.2
million using a discount rate of 5% and price of US$2,000 oz gold.
• Low initial capital requirement of US$105.5 million (including contingency and EPCM contract)
• Low average Life of Mine All-in Sustaining cash costs US$1,039 per oz gold
Resource is indicated and inferred. Needs a lot more drilling. Don't think it is a good fit, but if I'm Calibre management I'm in the data room anyways. That data can inform for their own exploration programs. It will also provide future due diligence enough to buy Condor at fire sale prices in the future if they don't find a suitor and run into cash issues.