The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Mentioned in the Sunday Roast. Opinion there is Demir too slow and Conroy Gold not happy at rate of progress. Turkish economy not great, interest rates at 50% in Turkey. Mutual agreement to exit JV. Conroy need a major gold miner to develop the assets as Demir not a big player in gold. Someone big will be coming in. Probably already in talks with someone.
And is there a range of views over at He1 that make up the conversation?
Or a contrarian balanced view
every aim chart on an explo comp is also highly volitile.
up and down like a yo yo
so cgnr,is no different,to other explo comps.
he1's 3 year chart,makes this chart.....look stable,in comparison
Taking a negative view on the company's announced results while the share price falls from 32p to under 10p doesn't seem particularly contrarian.....
DS appreciate you can take a view that way based on recent JV announcements, you can also take a contrarian view. We'll soon find out who's right & wrong.
Edochan if speculation means nothing, why are you asking these questions? It is not unreasonable, using the facts available, to take the view that Demir exited the JV because the results didn't justify further investment.
I didn't think Demir would enter the JV in the first place. But they did, they drilled, results were poor quality and they left.
Any resource investor can read the results and challenge the quality of the projects . There isn't even a single diagram to help investors interpret 2 years of drilling results, or understand why the company might be so positive about such low grades. It's extraordinary for a junior explorer not to share this information with investors.
Not much to be positive about, I'm afraid.
DS hasn’t yet answered my questions.
1) do you hold CGNR shares?
2) either way, why are you relentlessly spouting negativity here?
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.