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DS I don't know why Demir left other then what the RNS said & speculation means nothing. Why did they agree to the JV in the first place is a question back to you? Are you qualified to interpret drilling results or what is your background in this industry as you've made quite a lot of statements about the underlying deposits . Otherwise your argument just sounds like deramping to be honest.
The market cap of just over £4m is laughable. Clontibret alone is worth at least 10 times that.
517,000 ounces at Clontibret, half of that in Inferred.
Step out drilling by demir did not add any new ounces.
No resources reported anywhere else.
517,000 ounces at Clontib
There's an open pit mine at Clontibret right now. 1moz minimum but maybe significantly more. Wide intersections at Clay Lake over large areas so millions of ozs there. Major gold miners are going to be looking at this. Demir are not a serious gold miner and seems they never will be.
Fairview, who repeatedly told me and others to shut up because Demir are the experts who have access to all the data and know what they are doing......
Edochan if you notice in these interviews, Conroy just talks a whole lot and the interviewer doesn't get much of a word in. It's not the nature of these promotional interviews to really challenge the interviewee, it's not journalism. Conroy doesn't say there is a JV partner lined up, and he doesn't deny there is a funding coming.
You are asking the wrong question. The question is why did Demir spend all that money, then leave, if there is something worth extracting?
DS talks out of his ****.
There's probably a minimum of a million oz mine at Clontibret. There could be a lot more at depth. What kind of JV partner doesn't put down even one hole to test for higher grades at depth? What kind of JV partner only drills 8 holes at Clay Lake in a year. The scale of Clay Lake suggests millions of ozs close to surface.
Another partner will be coming in, it's just a question of when. In the meantime you will get all the scaremongering.
So DS I'm no geologist but aware the Prof is a former politician so take what he says with a large pinch. Are you suggesting that what he says in the Stockboxx interview is all lies? Why would the interviewer not challenge his assertions if this was the case? He either gets a Major on board or its over as far as I'm concerned. Why though did Demir spend all that money if there's nothing worth extracting?
Prof was suited and booted in the interview and more so then normal ( normally conducted interviews from home)?
He hardly gives interviews from the office in since Demir arrived
AGM he couldn’t walk unaided (90)
Why the rapid exit talks ? Someone else waiting in wings?Exit negotiations could be concluded in your PJ on the sofa 🤔
I was invited to City of London by Peterhouse week before last for KDR presentation
Prof daughter flown over from 🇺🇸
Cathel and Kevin were doing a cracking presentation
Regardless of the situation with Demir plus also anyone’s opinion on grades here 👎👍
Commercial or otherwise..
Something very proactive is going on here , the complete opposite to falling apart.
Hence after 11 years watching 👀 Cgnr I took up a position here this week.
Demir a private company and don’t have to disclose anything to market.
Further results are coming soon and that might not just be gold ?
Northern Ireland found (KDR ) possibly Nickle platinum copper.plus gold grains
Possibly CGNR could have similar in Ireland 🇮🇪
Two gold districts could attract someone like Rio Tinto
They did have a back back in rights with KDR for Diamond discovery but as part of that deal was 3 mil oz of gold
CGNR two gold districts and 8 licenses of some of the richest gold area in Finland 🇫🇮 plus Copper?
KDR kuhmo. Green diamond possibilities of new world class emerging province
Lahtojoki full mining permit expected 21st May 24
750 Sq KLM Northern Ireland Base metals
Sisters are doing for themselves
Imho. Game on !
.
Spot on PaulFG. Don't be melancholy though.
Personally I wouldn't take everything the Prof says as something to take to the bank. He's fairly loose with his wording, remember the whole thing about a mine by the end of 2023!!?!?! The relationship was oh so great with DEMIR all along when it's now clear that CGNR were pushing them to develop a mine and clearly DEMIR weren't having any of it.
So when he says there's been interest I merely interpret that as people came up to him at PDAC and chatted politely, nothing more.
I'm afraid I really do question whether this company can now survive. Happy, very happy, to be proven wrong, and maybe it's only the melancholic feeling when reaching the end of a good bottle of Grenache at the end of a long week.
But I expect we'll hear pretty soon about a raise, just to keep the lights on, it won't be for much because frankly I don't think they'd be able to raise much and then a last ditch attempt to raise JV interest and then I think the Conroy family will be moving on...
Time for another bottle...
"already been considerable interest shown"
Only a matter of time.
Perhaps someone in the "major" camp could post on here which of the company's reported resources or drill results they think Majors would be interested in. And how the refractory gold will be addressed. Then we could discuss.
Some people here are very confused. Majors invest in tier 1 targets. This is not tier 1. €5 mil spent over 2 years with thousands of metres drilled. Not a single tier 1 result reported. Even the chairman said the majors are not on the phone.
He does need a JV though. The Demir results are out there and their exit is damaging so I don't think there are any gullible PIs out there to bankroll CGNR any further. Those who came into the last round must be hurting badly. A deeply discounted rights issue to keep the lights on perhaps, I'd say on the condition that Conroy and Jones take no salary. Shareholders have seen the numbers which are shameful given the performance. But they do need funds, and fast.
In the current gold market, some Canadian junior might be willing to offer $1m for 50% of Clontibret to drill some holes and get some newsflow.
CGNR share price currently has some hope built in. Strong sell.
He can't just click his fingers and have a new JV partner take over though. I'm hoping things will move quickly because they have already been talking to people. The slow progress in the last couple of years is Demir. They should have been drilling constantly at Clontibret and Clay Lake. I'm not sad to see them go. Sounds like they gave no notice either. The prof said he had no idea they weren't continuing at PDAC and that was only March.
There's been a lot of talk from the Professor over the years but very little results....he stated no more fundraising required in the recent interview if I'm not mistaken? so its either a new partner or nothing....
Market cap should not be below £40/50m here and that’s very conservative. They know it and perhaps they are now fed up so they are doing a deal to fix that.
Clearly the market doesn’t believe he will do a deal with a major. The market is so wrong here it’s unbelievable. We know it’s coming
How is this market Capital only £4m. If prof announces a deal with Rio, or Newmont, Glencore, or Agnico Eagle etc. then the market cap can’t be 4m. We know prof has skill in getting very good deals so it is coming or he wouldn’t have told the market about the number of interested majors. Certainly expect this to move significantly when the name/s drop. Very exciting
Rio Tinto Group’s copper head says he sees much more value in building mines rather than buying existing assets – comments that may disappoint industry observers anticipating another spate of mining dealmaking.
The world’s second-largest mining company is looking to reach copper production of one-million metric tons within five years, up from about 700 000 t. The increase would come as Rio Tinto ramps up in Mongolia, expands in Utah and engages in exploration around the world, including a venture in Chile with Codelco
Rio Tinto is ready to take the leap into gold mining on its huge land footprint in Western Australia as prices for the precious metal soar to record levels.
The resources giant said its tenements in WA’s Paterson province could support multiple gold and copper mines based on initial drilling results and the proximity of highly successful Newcrest Mining gold operations.
Hmmmmmm
FINLAND
values, of up to 4,470 Au ppb, and copper-in-soil values. Gold grains have also been observed in the till.
The presence of the Nattanen granite suite and extensive haematitic alteration together with regional and
CGNR
SISTER KDR
NORTHERN IRELAND
The results of this programme, taken in conjunction with results from the previous programme,
indicate a highly anomalous river catchment area. This area has yielded five samples each having
over 1,000 indicator minerals. The indicator minerals are primarily Chromite and Forsterite with
some Chalcopyrite and gold grains.
In addition, microprobe analysis on a number of Chromite grains from samples taken from this area
during the original sampling programme in 2021 showed that four samples had Chromites with high
zinc oxide values. Such high zinc oxide values can be a signature of sulphide rich Nickel-Copper
Group Elements deposits. It was also noted that a number of the Chromites have inclusions of iron,
nickel, sulphur as well as on the Chromite margins, which is significant as it indicates the presence
of nickel mineralisation.
CGNR TWO GOLD DISTRICT'S .FINLAND EIGHT GOLD/COPPER LICENSES
KDR DAIMONDS ,KUHMO Lahtojoki ,750 sq,klm Nickle Copper and platinum (early days )
Even Rio Tinto would be sniffing for both companies
DRILLING TARGETS CONFIRMED ON FINLAND GOLD CLAIMS
High resolution ground magnetic survey completed
Potentially gold bearing structures identified
Survey delineates multiple prospective magnetic targets for drilling
Applications to be made over other gold and copper targets identified in Northern
Finland
Conroy Gold and Natural Resources plc (AIM: CGNR), the gold exploration and development company
focused on Ireland and Finland, is pleased to announce the completion of a detailed high resolution
ground magnetic survey which has identified a series of drilling targets on its gold exploration acreage in
the Sodankylä area of Northern Finland. The Company holds a total of eight gold exploration licences in
Finland.
The high resolution ground magnetic survey data, in combination with multiple datasets, including
geochemistry, aerial photography, digital elevation data and airborne geophysical data, has delineated a
series of prospective drilling targets.
Previous geochemistry in the Company’s permit area in Sodankylä has been encouraging with gold-in-soil
values, of up to 4,470 Au ppb, and copper-in-soil values. Gold grains have also been observed in the till.
The presence of the Nattanen granite suite and extensive haematitic alteration together with regional and
local structural controls indicate Iron Oxide Copper Gold (“IOCG”) prospectivity.
The targets shown by the ground magnetic survey include two highly magnetic bodies, which are
considered to be IOCG targets, together with a series of targets which are interpreted as being Shear
Zone Hosted Gold targets.
The detailed high resolution ground magnetic survey consisted of 33 lines at 100m separation, ranging
from 1km to 3km in length, for a total of 49 line kilometres covering an area c.4.5 km2
.
Finland is a mining friendly country with established mining traditions and highly prospective geology for
gold. Europe’s largest gold mine - the 4 million Oz Au Kittila gold mine - is situated in Northern Finland
where the Company’s permit area is located. Finland has a favourable business climate, security of tenure
and fiscal framework as well as excellent infrastructure and technical services readily available.
The Company is reviewing the results of its extensive exploration programme for gold in Finland which
has included the collection and analysis of more than 2,300 regional samples, with a view to applying for
further gold exploration acreage in Finland.
This release has been approved by Kevin McNulty PGeo, who is a member of the Company's technical
staff and holds a BSc/MSc in Geology and Remote Sensing, in accordance with the guidance note for
Mining, Oil & Gas Companies issued by the London Stock Exchange in respect of AIM Companies,
which outlines standards of disclosure for mineral projects.
Professor Richard Conroy, Chairman, commented:
“The Company’s gold exploration programme in Finland is an extens
Demir has left and CGNR are hoping for A BIG Major incoming, considering the size of Demir (no small concern )
Must be a Major Major coming in next ..........😲
The old 🦊 has out foxed the 🦊
Hopefully the prof will be able to give an update on talks in the short term. Obviously can't give names but would be good to get an update.
At a 4m market cap with a JORC resource, high gold price and massive potential for large scale open pit mining this could really fly when a new partner comes in. This time the emphasis will be on mine development.