Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Prof to announce his retirement next?
Not sure it's shamless or nonsense as it does make sense to have a deputy dawg. Although, maybe could/should have advertised and had a selection process. 😀
It's in the power of shareholders to stop this nonsense and incompetence.
Shameless
...in case you forget this is a family company, lol.
Thanks that is really great info. Very interesting what you say about Demir wanting to do things differently. It's been very frustrating the last couple of years. I always suspected that cgnr want to get on with starting a mine but Demir are doing a full appraisal of all the licence areas. Things have been very slow. I'm hoping that when we move to phase 2 it will be different. They need to focus on the key targets and do the kind of drilling that gets a JORC in place.
Hi Fairview, what was said is that if it was up to CGNR then they would go into production now because with what they have they could get 1000s of ounces but Demir want to do things differently . He did say Demir is in it for the long haul ( mines) and they are not ruling out going into a three way deal with a major who would have experience when it comes to marketing/selling. Timeline was not really mentioned but obviously Demir will want to start getting a return asap. They did say they were on very good terms with farmers etc who are very supportive . I held one of the rocks that Kevin brought and it was peppered with gold .Before it was what they might have but now they know they have it.
Johndar as someone at the AGM, did you get any sense of how soon we would move to phase 2?. From the perspective of the money, there isn't much of the phase 1 budget left.
Constant drill results have little meaning if they cannot be put into context of a resource. It's also important for investors to know that a competent person has made an assessment. It makes the whole thing less speculative which you should think would be in the interest of shareholders.
JORC update would be nice but constant drill results is what's needed. 6000m of drilling over nearly 2 years is ridiculous. A serious operation would do that in a month. Moving to phase 2 is an important milestone. Once that happens we might start getting somewhere.
6.5 years since the resource announcement at Clontibret and plenty of drilling done since. Shareholders should demand an updated estimate to understand the asset they are invested in. Crazy for a company not to update its resources after signifciant drilling so investors can judge impact on value.
Wow, €5.5 million spent and very little to show for it. Grades of 0.5, 0.6, 0.7 g/t in sulphide (probably refractory) won't cut it. Would be helpful if the company clarified what makes these results "excellent". Reference to "high tonnage" in the last announcement will certainly not appeal to sophisticated investors since a high tonnage proposition is not investible at this location.
Investors will be hoping for evidence of high grades in drilling in 2024 because 2022 & 2023 have been extremely disappointing.
Https://audioboom.com/posts/8421474-12-stocks-for-the-12-days-of-christmas-featuring-professor-richard-conroy-chairman-and-kevin-mcn
Not exactly committed to JORC update anytime soon. Or not publicly at least.
Not much more to spend in phase 1 fortunately. I think they've just about spent the €5.5m. Should get some more drill results soon. Phase 2 can't be far away. Maybe we get some proper drilling then. Demir will have their 25% so maybe more incentive to get things moving.
Mole_man99 thank-you....I must admit I was testing you.....lol I was in back then and suffered the loss of over £100k (probably £300k or more in today's money) by staying too long as a Long Term Investor.
fairview, I too am interested in the now and would love to make a profit ....about 100xbagger would just about do it......sadly I expect that past performance is indicative of future performance.....of course penny shares and AIM is not limited to CGR/CGNR.
Here's a link to your chart mole_man99......I see £33.25 equivalent per share March 2001
GLA
https://finance.yahoo.com/quote/CGNR.L?p=CGNR.L&.tsrc=fin-srch
Fascinating. I'm interested in 2024.
Found an old chart. 2000p not 4000p. 1:100 reverse stock split in 2015.
Was Conroy Diamonds and Gold back then. Charts tend to cut off around 2011 for cgnr when they changed their name. Same company though.
CGNR has had various reverse splits, so the effective price back in early 2000's was around £40 a share. Yep, it's lost that much.
Mole_man 99....you say 4000p you got out......please explain?
Very very positive at AGM seems like Demir are in all the way including putting mines up . 2 district gold areas .More drilling been done over past few weeks just waiting on results.
Demir are still with us!!!....you can not ignore that..so you have to ask yourself dos anybody on here know more than Demir ...i dont think so
High tonnage open pit mine at Clay Lake. Mine at Clontibret and probably several more. You lost money when the shares fell and you'll make nothing when they start rising. A total loser.
By everywhere you mean they have drilled 7,000 metres and reported gold in all of those holes?
Everywhere they drill they encounter gold. Considering how few holes they've drilled it bodes very well. Roll on 2024 and more good news.
See McKinsey, Exhibit 4. https://www.mckinsey.com/industries/metals-and-mining/our-insights/refractory-gold-ores-challenges-and-opportunities-for-a-key-source-of-growth
Global average refractory gold cost $47 per tonne. That was in early 2021 so high inflation since, and UK would be significantly higher than global average for energy and labour costs. But even keeping it at $47 and assuming an extremely generous 90% recovery that is equivalent to 0.8 g/t. That's to break even, never mind pay back the very high capex for a high tonnage POX operation.
So it doesn't matter how wide your intersections are, at the reported grades it will never work.
That's before you try to permit a large open pit in County Armagh. Good luck with all of that.