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RNS out.
Links not working on here.
Nothing exciting.
Still of the opinion they're doing a valuation!
JV continuing to review the whole area which is "above script"..I take that to mean they will exceed their envisaged spend exploring on phase 1.
Demir must be encouraged by results to do so. Possible 3 areas then selected for further investigation with the intention of bringing in 1 or more mines.
Is phase 1 and 2 still relevant?
Https://twitter.com/ConroyGoldplc/status/1659126180488916992?s=20
Says here the right to retain 42.5% interest on a mine by mine basis. Anything Demir invest beyond phase 2 becomes specific to a mine. That would be a lot more than the €10m on phase 1 and 2 if there are multiple mines.
Of course it is not feasible.
As PaulFG says if there is going to be a decision on the first mine/s by the end of this year there needs to be a huge amount of work. That sounds like not only phase 1 but phase 2 aswell. Is that really feasible? If that was true it would mean a lot of newsflow.
Could it be that they will release the full video later? Maybe that is the full video? The only new piece of information was the trenching.
You're right parkez. Drilling started after the trenching. Add that to the long list of places where drilling should be or is happening.
How much of that video was edited out?
And why?
2 days late and a couple of minutes long....not the norm for the Prof.
According to the last RNS, a drilling programme has already commenced to follow up on the trenching results.
Yes to determine where to mine by year end would demand a huge amount of work completed in the next few months. I just think that was not a well thought through reply.
The prof may have realised that investors just want results. I look at the number of drilling permissions that they have applied for this year and I think there must be a ton of drill results to report over the summer. If there aren't then why did they apply for the permissions. They have applied to drill at Slieve Glah, at Glenish/Rockcorry, at Clontibret, at Clay Lake. He said at Mines and Money there were 3 rigs working.
The 1m at 64g/t was fantastic in my opinion for a surface intersection. I can't believe they won't want to drill there asap to see how far that extends and whether there are wider intervals.
He also said that they would likely be deciding this year where the first mine/s are going to be.
The prof might be fed up with the share price. I don't know why he is surprised though considering we are waiting and waiting for drill results.
Just seen the short stockbox interview. I'll leave others to dissect the comments. My overall thought was that the Prof didn't seem as upbeat as previously, maybe just hayfever season.
It's a good jv agreement by industry standards. Alternatively go alone continually raising cash to do work and massive share dilutions.
You can't have it all for a junior explorer, this is reality.
We hope!
Parkez I think we should concentrate on results and not the JV. No way do Demir get to own 40% and then just sit back. If they don't want to contribute anymore there will be some clause in the JV for them to be bought out or they will relinquish their share and be reimbursed all their costs through future production or something like that.
But what it does is dilute Conroys 100% to 60% of the whole licence area.
Share price will take a massive hit...Conroy dilute, lths take the hit.....worthless to lths like you and me FV.
I don't think it's quite as black and white as you make it seem parkez. Supposing they prove up 1m oz at Clontibret and 1m oz at Clay Lake and some other small deposits. That would be a lot less than the prof believes and might not be enough for Demir. Who knows what their minimum threshold is. Just because Demir don't want to proceed doesn't make it worthless.
Galadriel, yes indeed it does say that and if indeed it is the case what happens if Demir spend the money and then decline any further progress in the JV.....leaves Conroy with no money and a practically worthless asset.
"The proposed JV with Demir Export, if completed, would mean a further €1 million payment being made to the Company together with an initial €9 million of expenditure (excluding operator fees, Demir Export in-house costs and minimum regulatory work commitments) over two phases which would earn Demir Export a 40% interest in the Company’s Longford Down Massif projects as a whole."
Probably a good reason for the market to be wary. However if they do decide to continue with a selected project or two....
The Prof states different in a couple of interviews??
Needs clarification.
Parkez, I don't think it has changed. See RNS 16th march 2021 which says will earn 40% of projects as a whole
FV, thats my point, the original agreement was 25% of 1 project (Clontibret). This has been changed, obviously in agreement with both sides.
Both sides signed the agreement and then they changed course.
They could quite easily develop Clontibret as agreed and explore elsewhere.
Why put everything on hold to explore....or value?
Doesn't matter how much is being spent if no value is being added - which is the current situation.
Let's not forget that the phase 1 and 2 spending is only the start. A lot more will be spent than that.
I'm saying they get 25% of all of them. Considering they are spending money at Clontibret, Slieve Glah, Clay Lake etc how would they decide which one they get 25% of?
That must be it fairview, let's delay revenue by not developing the primary project, spread some live around the other prospects. Great business head on ya.