Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Unless new money starts to flow into natural resources junior exploration stocks, or there's a large discovery somewhere that reignited the sector, I don't think the Phase 2 announcement will have any immediate sustainable impact on th sp, at least in the short term.
That is not to say I don't think this is a good punt.
I don't see what else he could have asked. A lot of time has been spent on soil sampling and trenching which does nothing for the sp. Exploration drilling has taken place in locations that haven't been drilled before. This allows them to rule out some area for further drilling. There will be an announcement soon about Demir getting 25%. They may have spent the $6m or they will have soon. Then it will be on to phase 2 and that should move the shares higher. There will be a big value disconnect at that point.
Honestly, I was disappointed with the interview. There was an opportunity for Archer to ask some hard questions and push for answers but it felt more like a fluff piece as usual with the Prof delivering the usual long answers hogging the airtime. Sorry, I don't mean to be nasty.
Phase 2 will demonstrate something, but I foresee a reasonably long period of sp inactivity. That said large long term holders are probably content to remain , why not? they have for years already.
Shares are way undervalued. Phase 2 imminent. The haters said there would be no JV and there was. The haters hope there will be no phase 2 and there will be. Say whatever you want it makes no difference.
Need to find economic grades before even worrying about any of that.
Of course the landowners are happy. It is not them you need to ask. The ordinary residents who will influence the councillors deciding an application. The ones who get no benefit but have to deal with the loss of environment dust and noise.
I suppose my scepticism comes from my early days in land development. If locals can get in a froth over 10 houses, they will be apoplectic over an open pit mine.
Maybe you'll win on appeal, but it will take 10 years and millions. Just cost that into the forecasts and adjust the SP accordingly.
The reason for getting other people to want to sell is so that you can buy (cheaply!).
The reason for pumping up the stock is because you want to sell and get the best price.
Counter-intuitive I know.
The reasons for offering constructive criticism is in the hope that management listens, or that shareholders do, and force managenent to make better decisions.
CGNR are in a good position with the land. Plenty of mining has taken place in those counties before. Demir have no hope of cgnr giving up and cashing out unless it was a very good offer. If only people would just move on when they've sold up instead of wasting time making up stories to try to get other people to sell.
Apparently the land owners are wondering when it’ll ever happen, they’re more than happy with it, CGNR have quietly acquired a lot of the land for themselves too though.
I would love to know the view of a resident in the area. Are they really going to allow extensive open scars across large swathes of middle Ireland?
The land is more valuable to humanity for producing food for a start.
There will never be large scale mining in central Ireland. The prof should be honest with investors what is possible here and stop dangling yet more gold to raise yet more money.
Reading Charles' rather balanced appraisal (apart from the 1Moz "estimated" resource faux pas)
"My general perspective is that Conroy would prefer to just build a small plant and get mining. But Demir wants to explore all licence areas... a three way deal with a major"
Three way can be 50:49:1
I couldn't agree more. Demir wants to bleed Conroy dry of project equity by overspending, and letting time take it's toll (Conroy passing and the kids wanting to cash out?) and package the whole shebang up for a major, something Conroy was never able to achieve.
Canny Turks!
Like I said, phase 2 is not far away.
"I am free to cover some subjective elements which a NOMAD or compliance team would not allow."
Charles Archer, is that a licence to publish garbage? Suggest you take it down.
Total garbage. Stating a resource figure which is double that reported by the company. Quoting a scoping study which is 10 years old so irrelevant on costs. Buyer beware. Placing coming.
Same point stands. This should be going to phase 2 quite soon. Market cap is too low.
Https://investingstrategy.co.uk/mining/investing-strategy-the-conroy-gold-edit/
2 years?
I think the point was that the valuation of cgnr is very low. If you believe this is going to phase 2 then it's very undervalued.
Sounds really good to me but the 2 years is a bit daunting
Any thoughts on it PaulFG?
Well they must be doing something right, as they are still here. That said, it seems the Conroy family members have paid themselves more as directors since listing in 2000 than the current market cap. of the company (£6¼M).
Lol.
CGNR has been going since the last century, never sold any gold, and its shareprice has plunged an astonishing -99.9% this century!
Well that's very big hearted of you. What about all the other AIM companies that promise things and never deliver. Do you post warnings on them too?
If this was all a big scam as you and others like to suggest then why did Demir sign a JV? They had access to all the data over the last 20 years. Are you suggesting that you understand gold mining better than them?
Maybe I am, but I just like to occasionally post so new potential investors can know they haven’t found a plucky early stage explorer, but a 20 year old gofundme campaign centred around the promise of a mine which never gets fleshed out.
Researching the facts they can better decide if a mine will ever be attempted or not and allocate according to the risk they see.
New investors need his help to make a choice? What a load of rubbish.
When the idea of a JV was floated the same knowledgeable fool was saying it wouldn't happen. Nobody would spend millions on a JV because the prof is making it all up isn't he. Wrong!
What we have here are bitter individuals who lost money and want to see the company fail.