Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
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If Demir knows enough to be willing to pay £100-150m now, then I'm not willing to sell.
3 rigs yes but at which locations?
So possible decisio at end of year on which and number of mines..1,2 or 3.
Why would Demir part with 42.5% of each mine if they thought a series of mines was achievable?
Thats potentially billions of pounds in profits....when they could part with £100-150m now for the 100%.
This is the video from a few weeks back where the prof says 3 rigs are busy. Had to listen to it again to make sure I wasn't imagining it.
https://www.youtube.com/live/JTSyYHzB1M4?feature=share
Well it does seem unlikely but I would just settle for drill results. They have permissions to drill all over the place and he said 3 rigs were working (4 if you include the target on the new fault line). That should mean plenty of results which is the least investors deserve after all the waiting.
I'm not holding my breath on the first mine decision be year end. I just cannot see how they get to that position this year.
Well I agree there's probably lots going on that we don't know about. That seems to have been the way since the start. They just don't want to tell us anything unless they have to.
I'm not sure about the prof going to these mining conferences to get people to buy shares in the market though. My guess is that he is making contacts that could be future investors in the company but not through buying in the open market.
The amount of buying shows no interest.
No interest after the Profs sales pitch to investors...that's what he went there for is.it not?
They were exploring and discovering the new gold trend because the area is held by the JV.
There's probably lots of that going on that we are unaware of...I mean if this trend was not there ,we would not even know they had looked.
Another week upon us....let's hope.its not another boring week!
According to the prof they will be looking to make a decision on bringing in a mine on one or more sites by the end of the year. That should mean lots of drill results in the 2nd half of the year. I don't know if it will but I don't see how else you make decisions on mines.
They don't actually need another partner. I've always thought the prof talks to other investors just so they're not 100% reliant on Demir.
How do we know what interest they've had. They're not going to tell us.
The easy win here would have been to expand the resource at Clontibret. Infill drilling, some step out holes around the edges of current resource. A few deeper holes to see if it extends to depth. Drilling Corcaskea was a no brainer.
Unfortunately Demir are just doing a bit here a bit there. What were they even doing looking for gold on a new fault line? Could end up being a great find but I wonder why they were even looking there.
Even if that was the case, which I too believe it is...surely they have a few holes they could report.
What seriously worries me is that seasoned investors(mines&money) and counterparts at PDAC have shown no interest at all....
Beginning to think I'm holding too many!
It seems to me that the 8 drill holes at Clay Lake were not planned out at the time of the RNS. If they had known exactly where they were drilling it would have been done ages ago. They seem to be drilling on a hole by hole basis and looking at the data before deciding where to drill the next one. It's the only explanation I can think of for the length of time it takes.
Conroy also have another PL in the west of ireland.
Demir have option until years end whether to add to JV.
I wonder if any exploration is going on there, and if so who's paying.
Cash at 30 Nov was €960k.
I had thought that too Malcolm and the time will eventually come because they are certainly not making money, but the last couple sets of accounts showed decent cash position. They must be pushing the bulk of salaries and office costs onto the JV.
No immediate need for funds. Finland is interesting. The prof said they haven't forgotten about it but the JV with Demir is the priority at the moment.
Yes we are but not for day to day running of the company and other costs. X
What draws you to that conclusion Malcolmj?
We are funded by Demir for all development works so this should be an interesting answer.
Dilution coming IMO
HMMMMMMMMM
strange not mention before or after and yet up to drone and drilling as this suggests in some of the richest gold field in the world ....
No coincidence todays announcement or facilitate ... pure investment ,very clever and canny from the prof and team
This forgotten second wing in no loss cause ;-]??
9 March 2021
Conroy Gold and Natural Resources plc
(“Conroy Gold” or “the Company”)
DRILLING TARGETS CONFIRMED ON FINLAND GOLD CLAIMS
High resolution ground magnetic survey completed
Potentially gold bearing structures identified
Survey delineates multiple prospective magnetic targets for drilling
Applications to be made over other gold and copper targets identified in Northern
Finland
Conroy Gold and Natural Resources plc (AIM: CGNR), the gold exploration and development company
focused on Ireland and Finland, is pleased to announce the completion of a detailed high resolution
ground magnetic survey which has identified a series of drilling targets on its gold exploration acreage in
the Sodankylä area of Northern Finland. The Company holds a total of eight gold exploration licences in
Finland.
The high resolution ground magnetic survey data, in combination with multiple datasets, including
geochemistry, aerial photography, digital elevation data and airborne geophysical data, has delineated a
series of prospective drilling targets.
Previous geochemistry in the Company’s permit area in Sodankylä has been encouraging with gold-in-soil
values, of up to 4,470 Au ppb, and copper-in-soil values. Gold grains have also been observed in the till.
The presence of the Nattanen granite suite and extensive haematitic alteration together with regional and
local structural controls indicate Iron Oxide Copper Gold (“IOCG”) prospectivity.
The targets shown by the ground magnetic survey include two highly magnetic bodies, which are
considered to be IOCG targets, together with a series of targets which are interpreted as being Shear
Zone Hosted Gold targets.
The detailed high resolution ground magnetic survey consisted of 33 lines at 100m separation, ranging
from 1km to 3km in length, for a total of 49 line kilometres covering an area c.4.5 km2
.
Finland is a mining friendly country with established mining traditions and highly prospective geology for
gold. Europe’s largest gold mine - the 4 million Oz Au Kittila gold mine - is situated in Northern Finland
where the Company’s permit area is located. Finland has a favourable business climate, security of tenure
and fiscal framework as well as excellent infrastructure and technical services readily available.
The Company is reviewing the results of its extensive exploration programme for gold in Finland which
has included the collection and analysis of more than 2,300 regional samples, with a view to applying for
further gold exploration acreage in Finland.
This release has been approved by Kevin McNulty PGeo, who is a member of the Company's technical
staff and holds a BSc/MSc in Geology and Remote Sensing, in accordance with the guidance note for
Mining, Oil & Gas Companies issued by the London Stock Exchange in respect of AIM Companies,
which outlines standards of disclosure for mineral projects.
How's CGNR Finland Exploration license's going ?? ;-]
Investment not facilitate
Shocking rip off of CGNR shareholders to facilitate the survival of board's and management's interests in a completely separate venture. Why would CGNR shareholders, invested in gold in Ireland, want any part in unproven / failed diamond prospects in northern Finland?
Why do you put up with this?
5% of the next world class diamond discovery in Kuhmo and possible emerging diamond province ??with 23 high targets
Lahtojoki mining permit far more advanced then anything here in regards of bringing in a full working mine ???
Ni The next Major Nickle and copper platinum base metal 700sq mile ??
is not to be sniffed at all at 2.5p a share
Excellent investment ??
Not Demir the Cgnr company all in house and confidant of a very big return ...
I'm more interested in how the prof thinks that they will have reached a decision on what mines to develop this year. We are looking at a little over 6 months to go.
Karelian Diamond Resources plc
(“Karelian Diamonds” or the “Company”)
Fundraising of £100,000, Debt Capitalisation and Related Party Transactions
HIGHLIGHTS:
Financing of £362,500 including fundraising of £100,000, issue of Convertible Loan for £112,500 together with Debt Capitalisation of £125,000 and Creditor Conversion of £25,000
Fundraising, Debt Capitalisation and Creditor Conversion totalling £250,000 at 2.5 pence per share
Convertible Loan of £112,500 issued, convertible at 5 pence per share
Both the Debt Capitalisation and Convertible Loan agreed with Conroy Gold and Natural Resources PLC
Funds to be used to accelerate exploration programmes in Finland and Ireland
Karelian Diamond Resources PLC (AIM: KDR), the diamond and base metals exploration and development company focused on Finland and Ireland, is pleased to announce a fundraising of £100,000 to accelerate exploration on its exploration programmes for diamonds in the Kuhmo region of Finland, where interpretation of geophysical data has revealed a series of kimberlite targets (announced by the Company on 7 June 2022), and exploration for nickel, copper and platinum group metals in Northern Ireland.
The Company has also entered into an agreement with Conroy Gold and Natural Resources PLC (“Conroy Gold”) in relation to a debt capitalisation of £125,000 and a further debt exchange into a convertible loan of £112,500, further details of which are set out below.
FUNDRAISING SUMMARY
Placing of 4,000,000 new ordinary shares (the “Fundraising Shares”) of €0.00025 each (“Ordinary Shares”) to raise £100,000 before expenses (the “Fundraising”).
The Fundraising was arranged at 2.5 pence per share (the “Issue Price”), representing a discount of 3.8 per cent. to the closing mid-market price of 2.6 pence per Ordinary Share on 18 May 2023.
In conjunction with the Fundraising, certain parties have also capitalised amounts owed to them totalling £25,000 through satisfaction of these amounts by the issue of 1,000,000 new Ordinary Shares at the Issue Price (the “Investment Shares”).
The Fundraising increases the Company’s exploration capacity and strengthens its working capital position.
Each Fundraising Share and Investment Share carries a warrant to subscribe for one new Ordinary Share at a price of 5 pence per ordinary Share exercisable for a period of 18 months from Admission (as defined below), creating 5,000,000 warrants (the “Fundraising Warrants”).
The Fundraising has been arranged by First Equity Ltd who are acting as placing agent to the Company for the purposes of the Fundraising. First Equity Ltd will be issued with 400,000 warrants at a price of 2.5 pence per Ordinary Share exercisable for a period of 18 months from Admission of the Fundraising Shares (“Broker Warrants” and, together with the Fundraising Warrants, the “Warrants”).
If at any time during the warrant exercise period the volume-weighted