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I agree, fair posts CRK22, and important to distinguish between published estimates and belief statements of potential.
Seems the 1 million ounce resource reference relates to a July 2008 announcement and there have been a couple of updates since (done at higher grades).
Wow an actual balanced post on this board for once!
and from CGNR website on the Mining in Ireland link - thus we can note there's a lot of work to be done involving time and money. So all good and moving in the right direction but let's be realistic
Noting the presence of gold mineralisation associated with historical antimony workings at Clontibret in County Monaghan in a geological terrain known as the Longford–Down Massif Conroy Gold applied for prospecting licences.
The subsequent exploration programme led to the discovery of over 1 million ounces of gold on 20% of the Clontibret target together with a 30 mile gold trend containing a series of major gold targets which conceptual studies by the Company estimate a potential for 15–20+ million ounces of gold within the gold trend covered by the Company’s licences.*
The Company proposes to develop a conventional open pit gold mine on 20% of one of these major gold targets – Clontibret, located in County Monaghan. The area has a history of mining and was known as the Armagh–Monaghan Mining District. The mines included lead, zinc and copper mines as well as the antimony mine. A large open pit gypsum mine is currently in operation in County Monaghan.
* This projection is based on the 1m ounce JORC-compliant resource outlined in only 20 per cent of the Clontibret target, the potential of the remaining 80 per cent of that target, the new discovery at Clay Lake and other large gold-in-soil anomalies that have been outlined elsewhere on its licences. To date there has been insufficient exploration carried out to define the mineral resources as estimated above (other than the scoping study resource). There can be no certainty that exploration will result in resources of the above magnitude being realised.
TBF the established case is given in the overview (ie they won't put anything not RNS'd in there)
https://www.conroygoldandnaturalresources.com/projects/overview
Anything beyond that is "potential", a word used by prof Conroy which gives insights into possible upsides. So turning potential into bankable involves drilling, jorc update etc etc. This isn't rocket science. I'm invested here since July 2020 with a long term outlook and the JV moves us in the correct direction. The actual full value will be revealed over time. Its not a FIFA trading card with exploding stars the moment we invest.
GLAH
would suggest you go back to the beginning and start at " understanding the different stages of a miner"
then research a company like "sprott" and dig into how they reseach a gold miner.
Then research how 3d imaging can identify the strike lenght and width ,then overview the rock formation and flow. (follow the gold ) posts in ggp may help you
Then you may understand jorc inferred and target .
When you have that understanding ,you may get excited at investing in cgnr at such a low mcap.
Alternatively put youre investment into rio tinto or similar .
mpd12: No, that's not very difficult and we can discuss that if you like but what about wiseinvestor's 15-20 million ounces? When was that announced?
And I'm still trying to find the announcement of the Demir DD drill results....
No one at the company has said that they DEFINITELY 'have' between 8 and ten million ounces. It's an exploration TARGET of 8.8 million ounces and they HAVE announced it to the market:
https://www.lse.co.uk/rns/CGNR/exploration-target-increased-to-potential-88m-oz-gold-i40ai8b80ft6myl.html
The joint venture will provide the additional finance and technical expertise necessary to prove up the resource via an ACCELERATED drilling campaign, beginning early next year.
It's really not that difficult to understand, unless you are being deliberately fallacious.
Very kind nidgeyr.
But these small disagreements can be easily resolved since stock exchange rules require that material information be disclosed on a regulatory new service announcement.
"9-10 million ounces between clontibret clay lake and glenish alone" - Which announcement?
"We have 15-20mil," - Which announcement?
" on the 22nd we immediately receive 6.5 million on top of the cash we have from the 2.25mil last placing" - Which announcement?
" the further DD by demir...outstanding results and the deeper they go the better the grades." - Which announcement?
It's that simple.
Good to see it/him/her here - makes this all the more a compelling reason to buy.
Keep up the good work DS