Adrian Hargrave, CEO of SEEEN, explains how the new funds will accelerate customer growth Watch the video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
So are we at the final hurdle here in terms of either there's a bigger player coming on board or this is dead in the water? Are there any other further stages to go through before a pit can be mined, i.e licences, environmental, etc....?
All in the Stockbox interview Edochan. Prof not concerned about mining licences or a new partner. The main thing will be a JV to develop one or more mines rather than exploration.
Edochan they are nowhere close to a mining situation. They have a small low grade resource, half of which is Inferred category so needs more drilling before it can be included in any mining studies. The resource has not been updated in 7 years. The last testwork on the processing method was done over 10 years ago. There is no feasibility study. No plans have been announced to carry one out. So no technical viability, no cost estimates, no financing plan.
If you are interested to see what it might take to reach feasibility on a low grade refractory gold deposit you could look up Bilboes in Zimbabwe - Caledonia Mining. Grade is a bit higher than Clontibret, processing uses BIOX with cyanide which is what was proposed by CGNR 10 years ago. They have 3 million ounces in resource. Gives you an idea of the type of scale you need for these kinds of projects. Cyanide is a red flag here in Ireland.
That cash in November must of gone by now. I watch with interest to see how the prof pulls off the Christmas party fund this time. Plenty of believers on this forum, but you need some fresh Charlie with a million quid.
Massive dilution for current investors of course. Hold at your peril.
Full year 2023 operating expenses were €773k.... Running on fumes now.
Demir has left and CGNR are hoping for A BIG Major incoming, considering the size of Demir (no small concern )
Must be a Major Major coming in next ..........😲
The old 🦊 has out foxed the 🦊
Rio Tinto Group’s copper head says he sees much more value in building mines rather than buying existing assets – comments that may disappoint industry observers anticipating another spate of mining dealmaking.
The world’s second-largest mining company is looking to reach copper production of one-million metric tons within five years, up from about 700 000 t. The increase would come as Rio Tinto ramps up in Mongolia, expands in Utah and engages in exploration around the world, including a venture in Chile with Codelco
Rio Tinto is ready to take the leap into gold mining on its huge land footprint in Western Australia as prices for the precious metal soar to record levels.
The resources giant said its tenements in WA’s Paterson province could support multiple gold and copper mines based on initial drilling results and the proximity of highly successful Newcrest Mining gold operations.
Hmmmmmm
How is this market Capital only £4m. If prof announces a deal with Rio, or Newmont, Glencore, or Agnico Eagle etc. then the market cap can’t be 4m. We know prof has skill in getting very good deals so it is coming or he wouldn’t have told the market about the number of interested majors. Certainly expect this to move significantly when the name/s drop. Very exciting
Clearly the market doesn’t believe he will do a deal with a major. The market is so wrong here it’s unbelievable. We know it’s coming
Market cap should not be below £40/50m here and that’s very conservative. They know it and perhaps they are now fed up so they are doing a deal to fix that.
There's been a lot of talk from the Professor over the years but very little results....he stated no more fundraising required in the recent interview if I'm not mistaken? so its either a new partner or nothing....
He can't just click his fingers and have a new JV partner take over though. I'm hoping things will move quickly because they have already been talking to people. The slow progress in the last couple of years is Demir. They should have been drilling constantly at Clontibret and Clay Lake. I'm not sad to see them go. Sounds like they gave no notice either. The prof said he had no idea they weren't continuing at PDAC and that was only March.
Some people here are very confused. Majors invest in tier 1 targets. This is not tier 1. €5 mil spent over 2 years with thousands of metres drilled. Not a single tier 1 result reported. Even the chairman said the majors are not on the phone.
He does need a JV though. The Demir results are out there and their exit is damaging so I don't think there are any gullible PIs out there to bankroll CGNR any further. Those who came into the last round must be hurting badly. A deeply discounted rights issue to keep the lights on perhaps, I'd say on the condition that Conroy and Jones take no salary. Shareholders have seen the numbers which are shameful given the performance. But they do need funds, and fast.
In the current gold market, some Canadian junior might be willing to offer $1m for 50% of Clontibret to drill some holes and get some newsflow.
CGNR share price currently has some hope built in. Strong sell.
Perhaps someone in the "major" camp could post on here which of the company's reported resources or drill results they think Majors would be interested in. And how the refractory gold will be addressed. Then we could discuss.
"already been considerable interest shown"
Only a matter of time.
Personally I wouldn't take everything the Prof says as something to take to the bank. He's fairly loose with his wording, remember the whole thing about a mine by the end of 2023!!?!?! The relationship was oh so great with DEMIR all along when it's now clear that CGNR were pushing them to develop a mine and clearly DEMIR weren't having any of it.
So when he says there's been interest I merely interpret that as people came up to him at PDAC and chatted politely, nothing more.
I'm afraid I really do question whether this company can now survive. Happy, very happy, to be proven wrong, and maybe it's only the melancholic feeling when reaching the end of a good bottle of Grenache at the end of a long week.
But I expect we'll hear pretty soon about a raise, just to keep the lights on, it won't be for much because frankly I don't think they'd be able to raise much and then a last ditch attempt to raise JV interest and then I think the Conroy family will be moving on...
Time for another bottle...
Spot on PaulFG. Don't be melancholy though.
Prof was suited and booted in the interview and more so then normal ( normally conducted interviews from home)?
He hardly gives interviews from the office in since Demir arrived
AGM he couldn’t walk unaided (90)
Why the rapid exit talks ? Someone else waiting in wings?Exit negotiations could be concluded in your PJ on the sofa 🤔
I was invited to City of London by Peterhouse week before last for KDR presentation
Prof daughter flown over from 🇺🇸
Cathel and Kevin were doing a cracking presentation
Regardless of the situation with Demir plus also anyone’s opinion on grades here 👎👍
Commercial or otherwise..
Something very proactive is going on here , the complete opposite to falling apart.
Hence after 11 years watching 👀 Cgnr I took up a position here this week.
Demir a private company and don’t have to disclose anything to market.
Further results are coming soon and that might not just be gold ?
Northern Ireland found (KDR ) possibly Nickle platinum copper.plus gold grains
Possibly CGNR could have similar in Ireland 🇮🇪
Two gold districts could attract someone like Rio Tinto
They did have a back back in rights with KDR for Diamond discovery but as part of that deal was 3 mil oz of gold
CGNR two gold districts and 8 licenses of some of the richest gold area in Finland 🇫🇮 plus Copper?
KDR kuhmo. Green diamond possibilities of new world class emerging province
Lahtojoki full mining permit expected 21st May 24
750 Sq KLM Northern Ireland Base metals
Sisters are doing for themselves
Imho. Game on !
.
So DS I'm no geologist but aware the Prof is a former politician so take what he says with a large pinch. Are you suggesting that what he says in the Stockboxx interview is all lies? Why would the interviewer not challenge his assertions if this was the case? He either gets a Major on board or its over as far as I'm concerned. Why though did Demir spend all that money if there's nothing 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.
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?
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......
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.
517,000 ounces at Clontib
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.