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Another nice result fairview. Where is that in relation to the 2017 resource?
2024 and the market capital of this company is still less than £5m.
Crazy market capital.
DS. It is completely true,although I can see why you do not want to admit it. You have forgotten that you confirmed the truth in the past. No need to be ashamed as all investors today,do owe a debt of gratitude to the foolish but noble pioneer investors. Stand tall,as you have done a great service to all present day investors ,who stand to make a lot of money from your past endeavours. Thank you.
Another drill results at Clontibret since last resource update:
3.9m grading 9.2g/t gold at a depth of 50.0m (including 1.2m at 21.6g/t gold).
Nice story Pedro. Completely false.
Nice intersection fairview. Where is it in relation to the 2017 resource?
CGNR owes a debt of gratitude to DS and his early investments. Thank you DS for your contribution which helped the company in earlier times and which the company should be grateful.
DS has a vendetta going back nearly 20 years. He was a big investor at the beginning,and held meetings with the Prof at that time. He got badly burned and lost a lot of money. He was foolish enough to invest in a company when that company was just setting out on exploration with no sight of revenue,only expenditure. Of course the Prof was more than happy to take his money. He has not forgotten or forgiven,and has been stewing with resentment ever since.
Here's an intercept at Clontibret since the last resource update:
5.00m grading 6.11g/t gold at a depth of 49.5m including 2.00m at 14.24g/t gold.
Foolish to ignore someone because they disagree? A guy who says there won't be a JV because the assets are rubbish. Wrong. A guy who says there will never be a mine after Demir had drilled about 2 holes. Here's a question. Why does someone who has absolutely nothing good to say about a company spend years posting on here? I can recall about 4 years but it's probably a lot more than that. Why don't you try asking him what his reason for posting is? Why the obsessive interest with cgnr? You don't think people talk companies down when they've lost money? Of course they do.
Anybody that sees huge potential for this company is a "fanboy" but someone who posts nothing but negativity for years on end is to be taken seriously.
This thing should be delisted now, or the prof demonstrates to regulators that there are serious discussions with a major, or the resource found is financially viable as a mine.
He’s had 20 years and lost millions with no tangible progress. Needs to justify to regulators why it won’t just continue to absorb new investor cash and evaporate it.
FV, Why do I seek the agreement of a blatant deramper?
Because it's foolish to ignore people just because they disagree. I want to form a balanced opinion, not live in an echo chamber of fanboys.
Why exactly are (some) shouting the praises? If you have a great opportunity that nobody recognizes, best keep quiet, so I suspect that some simply want an upside to sell on, even if they have to generate it themselves. I also doubt 'derampers' are motivated by resentment, it makes no sense, whereas buying cheap, or shorting do!
I believe the basic project has some sound fundamentals, which is why I'm here, but wonder that Demir didn't agree, why Conroy didn't hold their feet to the fire on essential work, and why management fail to make a strong investment case, preferring platitudes and diversions instead of selling the strong points, updating the resource and publishing an updated feasibility study at $2,000 gold.
AND I MEAN THE STUDY, not some half-a$$ed two page in-house summary. I recently took a look at Bushveld, and they include FULL 50+ page studies and resource work, with maps and diagrams, by renowned independent consultants, as PDFs. This is the norm in Canada btw.
They'll have no problem putting out current figures then. Published NPV is $72m based on an old resource. Not very helpful whether you are bullish or not.
A resource for CL would be great. Two geologists on the board, let's see what they are seeing to tag it with world class potential.
Of course it's economic. Why do you seek the agreement of a blatant deramper? Demir had only just started drilling and he said there would never be a mine. That's not analysis it's just deramping and he's been doing it for years.
Clay Lake has world class potential too. Not my words but look at the intersections and the area. There could be millions of ounces waiting there. It needs more step out drilling and infill drilling. Let's get a resource there too.
1Moz is an irrelevant number. The resource is a snapshot at the estimate date based on technical and economic factors at that time. In 2017 it was 517k oz. The cutoff grade was 1 g/t so anything under that is worth precisely $0. Lots of drilling since then so whether it's an equity fundraise or JV, investors can't value the project without a current resource.
OK DS, so back of an envelope, I admit, but if:
1Moz (30 million grams) at 1.25g/t = 24 million tons and,
0.5Moz (15 million grams) at 2.0g/t = 7.5 million tons then the difference is:
0.5Moz in 16.5 million tons at 0.9g/t, so at $2,000+/oz worth $60 or £48 per ton.
That's still three quarters of a billion quid.
Surely this is likely to be economic? Why can't they just publish the feasibility study showing this?
The 517k Indicated + Inferred reported in 2017 is out of date. There was infill drilling in 2018 and stepout drilling by the JV in 2022. The easiest first step to demonstrate an investment case is to put out a current resource report.
The prof himself admits that the JV wasn't doing what they wanted. They wanted to get going on bringing in a mine at Clontibret. They need to sign a JV with a clear work program towards mine development. I'm sure nobody invested here wants years more exploration. Exploration should only happen alongside mine development not instead of.
Dunno but, DS statement is accurate. 30p to 10p. Not better off.
It's time to make this a business and not a treasure hunt.
Hands up anyone who thinks DS is a genuine and honest poster with no axe to grind with the Prof due to foolishly losing his fortune investing at the wrong time? Any hands up?
"considerable interest shown at PDAC"
They didn't even have 100% then and people were interested in the possibility of a JV with 3 partners.
CGNR should produce a cashflow showing how those grades can be profitable in Ireland. I doubt any major is excited by them.
"major companies coming to do site visits even before Demir"
Now the project is further forward. There was a million oz resource at Clontibret many years ago. Lots of drilling has happened since like the near 100m intersection at 1g/t with 45m at 1.5g/t. Plus Clay Lake looking more and more promising and Creenkill a possible new target.
Hands up anyone who agrees that sub 10p (the position now) is better than plus 30p (the position when Demir discussions were announced). So much BS.
Quote from the prof: "we are in an even better position now than when Demir approached".
That JV took the share price over 40p. This time it could go much higher.
You have to to hand it that idiot DS. He lost a load of money and thinks that posting incessantly on here will achieve something. News flash idiot. You lost the money and all your years of posting on here isn't going to change that.