Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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If Demir sign for stage 2 I agree it will suggest they think there is a viable mine, but that is not the key issue here.
The main issue is that they will not get permission for a large gold mine in the area. 20 years ago they could of steamrollered the importance of a gold mine over the locals concerns, but the world has changed.
The environmental concerns will stop any large scale digging up of green land, especially as it is just for gold. There is no need to extract gold any more. There is enough to satisfy any important industrial need, and it would work much better as a store of value if miners stopped adding to the stock.
Golds stock to flow ratio is not good as an inflation hedge and store of value.
Just leave the gold in the ground and grow food on it instead.
They'll have to put out some news about the completion of phase 1 and plans for phase 2 this month surely. Gold is flying at the moment. They should have multiple rigs out there drilling.
That's why you sell on the exploration news,mainly drillling.
or buys on the lows,sells on the highs,you know the score.
explo comps are all the same,you can make good money,if you trade them,like some of you do,probably.
nitezzzzzzzz
bit like 88e next week,flow test news....if its good,sell on the news..
and bce,sometime during this month,flow rates....sell on the news.
CGNR has been in the exploring phase for decades...
Another 1-2 years for phase 2, another 1-10 years to deal with Nimby planning objections, a Northern Ireland state in total political chaos that could take years or decades to approve a new mine, many more shareholder placings likely to keep the show on the road, a ~90yo CEO, and it could be the 2030s or 2040s before any sellable gold is dug up. It could be half a century from start to commercial sale!
So it would appear.
Deathsranding
there's no feasablity type studies available bud
because cgnr is in the explpration stage,not the feasability stage.
Malcolm if they go to phase 2 with Demir or another large partner it's going to multi bag.
We have some absolute ***** on here that are going to be very upset. Can't wait.
Guess we'll learn more about what the intentions are if that happens. All it will show is they are willing to put more money in. There is no study yet to show that mining is viable.
If Demir sign up for Phase 2 it's a clear indication that they believe mining is viable. Surely you can see that!
....progress. Clontibret no further forward (doesn't work), Clay Lake too low grade (as per previous results).
€5 million is a huge spend to come away with no meaningful progr
That's right it is a game changer. The problem with Demir though is they're slow. Right from the start they have been mind numbingly slow. 12 months to drill 8 holes at Clay Lake. It's a joke. There is no reason that phase 2 couldn't be done in 12 months. Drilling predominantly at Clay Lake and Clontibret. That is the kind of commitment that is needed. That probably explains why they were at PDAC too. They have to make it clear to Demir that they have other parties willing to step in. The prof has already said that he is talking to people. If Demir can't provide written assurances that they are going to accelerate the work then they can exit with a net smelter royalty.
In what way? Phase 1 was to be transformational, and it wasn't
If Demir sign up for phase two it is a game changer.
Shareholders keep getting shafted. Share price lowest since June 2020 just before AAZ JV announcement. €5m spent by Demir JV and record gold price but back to square one for shareholder value. No resource update since 2017. Exec salaries way over market, family appointments to needless management / advisor positions, corporate jollies. Laughing all the way to the bank.
At a time when the JV is covering the tech staff and all the work, there is every reason to conserve cash to avoid diluting shareholders with another PP. So why exactly were four of them over at PDAC? No one in Canada invests on AIM and they don't need a JV so who exactly were they "promoting" to? Booth and attendance fees, 4× business class airfares and 4* hotel rooms plus a few posh dinners = £25,000+ . At 10p and 50M shares that's 1/2% more dilution to existing shareholders just for that jolly on the next raise. The board should be working from home for free, and the staff in a portakabin on site at this stage.
A quarter of a century gone, dragging on since the last century, millions and millions in dilution placings, share price for punters has collapsed an astonishing -99.9%, the main "explorer" is ~90yo, years of planning objections remain on the horizon, and there is still not a single gram of commercial gold anywhere to be sold.
Sounds good...
They'll come up with some investor pleasing news soon as the cash runs out shortly. Need to raise the next million somehow. With such a low market cap, it's going to be quite a trick this time.
The Prof and Maureen could always agree to work for performance pay only. That would help stop the drain and the dilution while you wait out the next decade.
If Demir can't commit in writing to a significant acceleration of work in phase 2 they should bring in another partner. We've got record gold prices. They should be drilling at Clay Lake and Clontibret.
That's right Banzai. The communication from this company is appalling and then they complain about being undervalued.
Gold is on the rise, at record level, but you wouldn't guess it from this.
Market condition should make funding easy but zero news or timeline from the board isn't helping. Ridiculus
Hopefully nothing worse than the inevitable top up placing on its way.
Time for another b***s**t RNS as we have reached another year’s low?
Will be moving on to phase 2. The main question is when. Maybe this month.
€5m spent and all the news is in the market. So what's the catalyst for a multibag?