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We all know Johnson's MO, and that of his crew. Here is a post of mine from May..
"CON has a mcap just a few pounds shy of 4 million. First equity place all their value on con's Stonepark project, as it is the only one with a resource. Con hold 23.44% of the project.
On the other hand, you have their partner, Group Eleven Resources (Tsx, ZNG) who have a mcap of 5 million for the remainder of the project. G11, iirc, have the largest land package in Ireland. Cashed up after their ipo."
Adjust the maps for today's Sp. Con £2.9m - ZNG - £5.1m
However, and I cannot stress the mo of these warrant flippers enough, here comes the kicker.
Con - 11.6m @ 3.4p. 22.7m @ 7p. There are also options, already in the money, which are outstanding. Con website makes it hard to find all the dilutive stuff (I could only find warrants, not options. But they are there. That Gavin lad that was here had a chunk of em.
Zng - 3.3m @ 21c. 2.3m @ 40c. 12.5m @ 60c. Current Sp - 14.5c
Tvr is roughly con 110m, zng 60m.
I have an indirect stake here via mtr. Nil interest in zng.
Interesting comparisons I find.
Not sure you've got a firm grasp of the issues here. The leading shareholders have a large proportion of the company's shares and have been fully participating in the placings, the last at a much higher level than the current price. So why are they doing this if the prospects are so bad? Are they crazy?
Paul Johnson is just talking his own book , as usual, (also with Conroy Gold & NR), for MTR, which invests in these 2 companies, and which PJ also has a decent position.
I'm afraid "Con" is just wot the ticker implies, and is another useless piece of Teeling excrement, which has been tooling around in the Bogs of Ireland, for no tangible results for the past 10 years. All of the Prospects are sub-scale and marginal licences and the company is perpetually short of cash, and hence in the incessant Placings.
If you want to invest in Zinc exploration in Ireland then try Erris Resources or Zinc of Ireland - at least we know they HAVE some Zinc/Lead/Silver and aren't just Lifestyle Companies.
IMHO. DYOR. GLA.
Low MCap, low shares, projects close to significant deposits. Bod changes - proactive, fundamentals improving, share price reduced recently, PJ continuing to add recently and north of here. Some recent buying last few days, minimal competition of late, Im watching and looking to buy when I have funds. My thinking is MCap will have significantly improved by release of next years results, poss news before agm? If I miss the boat so be it but like where this is going. AIMO GLA
https://www.independent.ie/irish-news/locals-unearth-significant-prehistoric-hoard-of-gold-bands-in-donegal-37058447.html
This is more gold than Connemara will find in Donegal.
New RNS http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/CON/13692233.html
To sum up they found diddly squat as alluded to last week. I'm closed my position a week ago as I really couldn't see where any growth was to come from and this just undelines my doubts about the mining projects to bring about any sort of growth.
"6 prospecting licences in a block located 5km from the Tobermalug & Caherconlish zinc discoveries at Pallas Green, where Glencore have established a 44 Mt 7% Zn 1% Pb JORC-compliant resource (2016)" A tweet posted at 2.03AM on the 15th of June. Odd time. The linked update on their website is not dated but seems to be a rehash the April update if the maiden inferred resource estimate. All a bit odd.
Patrick Cullen inspecting samples from Mine River. I hope there is gold in them there boxes. https://twitter.com/connemaramining?lang=en
investors also received one warrant to subscribe for an additional new ordinary share at a price of 3.4p per share at any time until 15 August 2019 (7.8m) Each placing share has a warrant to subscribe for a further new ordinary share at 7p with a two year exercise life (21,686,747 warrants). Should however the share price of the Company exceed a 20 (twenty) pence volume weighted average share price for five consecutive trading days, the Company has the right to accelerate warrant conversion Expired on 26/05/2018, so no longer around since two weeks ago: For each placing share subscribed for, the investors received one warrant to subscribe for an additional ordinary share at a price of 5p per share at any time until 26 May 2018.(20m). �900,000 placing 4 months ago, with historical cash burn of �250-�300m a year, leaves us in a good cash position for the rest of the year. Unless they acquire an asset, but that would be book enhancing anyway. I like this small gold tiddler, may not be the most exciting on AIM, but it has seen mid 5.00's recently. Now it is oversold and potentially a good positional hold from here for news or correction to mcap.
investors also received one warrant to subscribe for an additional new ordinary share at a price of 3.4p per share at any time until 15 August 2019 (7.8m) Each placing share has a warrant to subscribe for a further new ordinary share at 7p with a two year exercise life (21,686,747 warrants). Should however the share price of the Company exceed a 20 (twenty) pence volume weighted average share price for five consecutive trading days, the Company has the right to accelerate warrant conversion Expired on 26/05/2018, so no longer around since two weeks ago: For each placing share subscribed for, the investors received one warrant to subscribe for an additional ordinary share at a price of 5p per share at any time until 26 May 2018.(20m). �900,000 placing 4 months ago, with historical cash burn of �250-�300m a year, leaves us in a good cash position for the rest of the year. Unless they acquire an asset, but that would be book enhancing anyway. I like this small gold tiddler, may not be the most exciting on AIM, but it has seen mid 5.00's recently. Now it is oversold and potentially a good positional hold from here for news or correction to mcap.
Strongman ..good points. Sold a few SEE shares in kids' ISAS to top up here at this distressed level.
LOL you must try harder, they raised �900k only 4 months ago, and admin is running at 200k euros a year. Plenty in the bank.
"to quicken and further expansion @2.70p
"to fund further expansion" @2.70
Taken a few at 2.70 - 2.785. Placing was done a few months ago at 4.15 and warrants are at 7.00. River gold drill results due soon. Whoever sold, has given a opportunity today for someone like me to get a good position, thank you.
Good to see we are about to get some action, warrants still outstanding at 5p, I expect this to start moving?
Well Con has been tooling around in the bogs of Ireland for about the past 10 years, for no tangible result, as far as I can see. Their projects look Sub-Scale , in my view, and although many of their Zinc licences are on the edge of highly prospective licence areas, it seems as though the "Big Boys" such as Glencore, have the main "in the money" Asset. As for Gold in the Irish Republic, well, people have been looking for a sizeable deposit for the past 500 years and nobody has ever found the supposed "Mother Lode", from where Ireland's Neolithic Gold allegedly emanated. Many people now think that ancient gold came from traders in Persia and North Africa, and wasn't domestically sourced at all. Who knows, but to date, Irelands only producing gold mine is Galantas (GAL.L), at Omagh and even that has had to shut down recently until the planning consent can be sorted out and the "Nimby's" appeased. The biggest potential Zinc discovery I see, is Glencore (42m tons Zn ?), at Pallas Green, though that is likely to be highly diluted by the rest of their global assets. Erris Resources (ERIS.L), a newbie, also looks quite interesting - off the main Rathdowney trend, but drilling around an old Zinc/Lead/Silver mine, in a highly prospective area near Sligo, together with Gold in Sweden, which they KNOW is there. Zinc of Ireland (an Aussie Co) also looks quite interesting on the Irish Zn front. Hope that helps. IMHO. DYOR. GLA.
Patrick Cullen ceo of Connemara Mining updates the market on the successful assay results at one of its three holes drilled recently at the firm�s Tombreen Mine River prospect in Ireland. www.connemaramc.com/patrick-cullen-ceo-of-connemara-mining-updates-the-market-on-the-successful-assay-results-at-one-of-its-three-holes-drilled-recently-at-the-firms-tombreen-mine-river-prospect-in-ireland/
..there’s a holder here who keeps checking in ..worth a punt Apple another Paul Johnson share with him having15% and biggest stake holder other junky holdings by individuals so not many in free float and from trading pattern most others are LTHs
...I've been considering buying CON for a LT bottom drawer investment. Having done some research, i would then turn to the bb to get a general view. However, even with only 67m shares in issue and the possibility of total abandonment by posters....i take it that CON is not as attractive as it first seems...a CON maybe, i don't know? So, therefore, atm...no bottom drawer, rather Room 101, unless posters are willing to discuss this stock more regularly....20 days since the last post, is a red flag? Good luck to all invested.
At least with this company we have something there.....unlike MONREAL and AIQ and ill add CLLN to that....