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One way or another I think this is going to work out very well in the end. Demir had no real expertise in gold mining. They are a base metal miner.
No experience of large scale gold mining and mind numbingly slow was not a good combination.
With 100% of the licences back they can focus on getting someone in who wants to build mines.
Any real miner will come to the conclusion you will not get permission for a large enough open pit scar in Ireland. The funds for the dreamland gravy train will have to come from somewhere outside the industry.
Prof probably doing his best wining and dining Tim nice but dim. At least he is doing work of some sort for the gravy. Not much use to current investors though.
Another option that cgnr have is to do a deal on the Clontibret holding company. A company like AAZ might want to develop a mine there. A lot of work already done.
Bigger target like Clay Lake could be a separate deal with bigger gold miner. Could come to an arrangement for shared processing facility. Lots of possibilities.
This could easily go to 7.5p in a placing. £3.5 mil market cap seems about right.
Well if Demir want to do a deal with KDR that's fine. All I know is that the prof has mentioned the Canadian miners a lot and the huge difference in valuation of very similar projects there. I wouldn't be surprised if some large mining companies are aware of that too.
I think Demir were interested intaking a look at Conroys base metals. Didnt they let that slip in a cgnr podcast last year if im not mistaken. By this I mean KDRs ground in Fermanagh. Perhaps this is what the prof meant by some of the Demir geologists coming back. Makes sense in my view. Perhaps this is the reason Demir were so content to do the exit deal with cgnr . Think about it.
£4m market cap that should be. Laughably low even if all they had was Clontibret
We were told the same thing when they last talked about a JV. People just like you saying the assets are no good. Who would want to do a JV. Guess what 2 companies AAZ and Demir. There were others before COVID got in the way. The case for Clontibret and Clay Lake is the same as it was then only stronger because Clay Lake is getting bigger and the gold price is getting higher. Demir failed to test for gold at depth at Clontibret despite the fact that the gold veins are steeply dipping. They couldn't even do something as basic as that in 2 years.
All to play for here in my opinion and from a £4 market cap that doesn't even value the known asset at Clontibret.
Quote = Fairview:
"Mentioned in the Sunday Roast. Opinion there is Demir too slow and Conroy Gold not happy at rate of progress... Conroy need a major gold miner to develop the assets as Demir not a big player in gold. Someone big will be coming in."
Crikey. "Demir too slow" is surely a bit ironic. CGNR have been on this project ages and have only proved excellent at making shareholders poorer and finding zip... Still, as you said, that was "opinion" and we all know about that.
Why would "anyone big" come in to this project, which has consistently proven to underperform despite the hype? A major? Pull the other one.
Mind you, check out the performance of all the "Sunday Roast" top picks for 2024 and you'd be forgiven that the actual picks were for stocks that were due to get roasted... every Sunday
"This is far from over!!"
Indeed it will run and run. But they will still find the squre route of SFA! Not a compelling purchase to my mind, there's much better stocks out there.
IMHO, GLTAH; but very importantly with this coy, DYOR.
Roast podcast reference Demir aren’t experts in Gold
Well they are in Base Metals
Regardless of home interest rates,this company is massive
Why walk away and only to get your investment back in some distance form
Remember mining license take on average 18 months
Demir agreement including application for license upto build process
Prof mentioned young geologist may return in future
Hang on
KDR. Sister has 750Sq klm base metal exploration license right up Demir street !!
(Makes way for massive Major in Cgnr )
It’s possible they may emerge back in soon.
Who knows
Interesting times ahead
This is far from over!!
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.