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Everyone saying the same two line argument - ok the probably can't/don't have much more to say. I'm sure the Demir exit has been coming for a while, in order for them to have negotiated what is really a pretty excellent exit package for CGNR ending up back with 100%.
But I would love to know WHY Demir exited though I doubt we'll ever know, but undoubtedly a new partner would like to know.
Let's see...
New podcast sunday roast out
From 9 minutes on the Prof confirms he has had approaches from majors and their interest has been building, very major companies he calls them, very exciting he suggests. Very little mention of Demir.
It looks like a new partner may already be lined up.
https://x.com/RoastPR/status/1777656693024772365
He said in the event of Demir not proceeding that there are plenty of others knocking on the door. Agree that something needs to be arranged quickly. Gold price is looking good and we are talking about open pit mining. Clay Lake is large scale rather than high grade.
Hmm
Not totally sure what to make on this. We have moved the potential of the tenements forward but I think CGNR need to convince a partner with deep pockets and many drill rigs to come in quickly - with gold prices accelerating it may happen. But the Prof will have to sell the potential against many higher grade exploration results elsewhere in the world.
SO I'm not sure what the next steps are.
Well be interesting to hear his spin on this - at least it'll be something different from the broken record recording we've been hearing for the last few years.
Enough already with all drilling and no mining action. Let's break some ground!
That is a very clean break and just the NSR of 2%. Free to enter into a much bigger deal now. I bet no deal is announced until after the sister company KDR receive their mining permit at end of may/start of June. Why? Because every chance KDR also part of this deal with a major or partially.
Ouch would have been Demir walked away, clearly CGNR have asked them to move on, hence the deal!
Ouch.
This actually sounds like good news!
RNS just dropped
Https://www.bbc.co.uk/news/uk-northern-ireland-68897693
Dalradian's project only stands a chance because they removed cyanide from their processing in 2019. CGNR proposed BIOX with cyanide 10 years ago and haven't made any updates since. Seems unlikely cyanide will ever get the go ahead either side of the Irish border so what is CGNR's plan for processing low grade refractory ore??
Interesting discussion.
I was listening to Colin Bird (I know a marmite character but he's been around a long time) on the Sunday Roast midweek podcast AFP, and he made a very valid point gone are the days of the old style JVs where someone commits to something in the next 4 yrs for P1 then in the following 4 years of P2., and then perhaps another 4 yrs before any ruddy decision is made.
Shareholders no longer have the patience for this type of set up, and he's right.
I don't think the Professor will be living for another 20 years....
>> The JV has been a disappointment because Demir take forever to do anything. Again hardly the profs fault.
As MD it is his fault. The slowness of Turkish companies is well known in the business community. He should have been honest when the JV was signed. 10 years to get to mine application. 10 years for application and appeal process.
You can then decide if it pays to support the prof and Maureen for 20 years, and what annualised gain you may of achieved by then, allowing for a probability of success.
Much less than just investing in an SP tracker I would say, with a lot more risk.
I understand your frustration. The Conroy-Jones family seems to be doing well for itself but not a lot for shareholders. I get it.
Yes I'm aware of DS and he'll be here enjoying the uncertainty until we get positive results...then I'm not sure what he'll do with himself....no doubt he'll issue a sincere apology and beg for our forgiveness.....
Huge upside here if they would just tell us what's happening.
"Hardly the prof's fault"?? That's hilarious! It was only he who brought them in as a partner and announced it as "transformational"!
The ground hasn't delivered on the overstated optimism, but you still don't get it. €5 million sunk, no progress made.
Are you actually an investor though Goldbug? What was there before the prof started? Has he not been responsible for the exploration at Clontibret and Clay Lake. Was he not responsible for securing all the licence areas and building community relations? Was he not responsible for securing the JV agreement?
The JV has been a disappointment because Demir take forever to do anything. Again hardly the profs fault.
Paying yourself and multiple family members six figure salaries for doing very little over the years, then accruing half of it as debt because the company can't afford it, and converting this to shares so you get to remain in control, so continuing to pay yourself, is NOT "investing your own fortune"
Edochan I don't know if you are aware but that guy is a complete hater. He's desperate for cgnr to fail and will never admit why. He's posted consistently negative comments on here for years. He said the JV would never happen and it did. He claims that AAZ pulled out of the original JV although of course has no evidence of that whatsoever.
DS while I understand the scepticism, answer me this, why has the Professor invested so much of his own fortune into CG shares?
The prof has said on more than one occasion that other parties are very interested. I'm sure it's been discussed with Demir as there is a lot of ground.