Member Info for carters

I don't think we'll ever agree on this Goldbug. Yes Conroy Gold did get money outside of the JV. I think a fair chunk of it went on financial obligations and working capital. They probably could have put more of it into the ground but they had a big partner in Demir. In my opinion the staggering incompetence lies with Demir. They had lots of money. They had the access to technical people, consultants or whoever they needed. They achieved virtually nothing in 2 years. When you add up the drilling they did in that time it was laughable. It's like they couldn't afford to drill.

Marian Moroney said that Demir had not spent the money wisely. That's the polite way of putting it. Professor Conroy said in an interview that he would have preferred that Demir spent money at Clontibret. That strongly suggests that Demir were calling the shots. Before you say that shows incompetence by cgnr they spent years trying to get a JV. Maybe they gave away too much control but they were desperate. They thought Demir knew what they were doing but all the evidence suggests they didn't have a clue.

Whatever you think of the Conroy team Goldbug those American investors aren't doing this out of the goodness of their heart. Bob Moriarty said he will put money in. Maybe Quinton Hennigh will too.

"With the explosion higher in the price of gold and silver Conroy, like me, believe the price of their shares is absurdly low. Should they consider doing a small strategic private placement with no hold in the range of 1 to 1.5 million pounds. I would participate in that. Quinton likes the Fosterville deep drilling lookalike theory since he was the one who came up with it for Eric Sprott back in the day. He and I would like to see some 800-meter holes poked into the best targets."

Based on what Conroy have already, the shares are materially undervalued at 10p. That's why they're buying. They will want to see certain things happen quickly. The timelines are probably a lot shorter now than waiting for a JV partner to do something although that is obviously still the ultimate goal.

"If Conroy had used just a fraction of the £2.25M they raised independently on the back of the JV plus their £1M cash signing bonus, they could have done all this years ago."

Agree but why should they have to? Weren't Demir a big mining company with deep pockets that knew what they were doing? Why on earth would you spend $5 million drilling holes here there and everywhere but not test for gold at depth at Clontibret.

In terms of the sp it's not surprising it's back nearer to 10p. The big question is why do American investors want to put money in at 10p. They're not getting a discount so there's no quick flip available. They must see it as undervalued. The must think it's worth significantly more than 10p or why bother.

If they do decide to drill deep at Clontibret and they hit high grade gold at depth it will be hilarious. Those clowns at Demir will have snatched failure from the jaws of triumph. They had over 2 years and failed to evaluate the main target.

When you think that Demir could have put down a few deep drill holes at Clontibret and potentially transformed the project into something major and didn't do it. They were a joke.

Now I'm wondering what they're going to do next. Are they going to test at depth? I believe they have a new theory about connecting Corcaskea with the main deposit at Clontibret. That would demonstrate a bigger footprint.

"bringing on board a number of long-term value investors, predominately from North America"

These people must surely see an upside from 10p or why bother.

Are they closing in on a JV? Is this raise part of it i.e. to demonstrate they aren't running on fumes?

I think you suggested it would be at 5p Goldbug. Either way I wanted a JV and this isn't a JV.

As for Moriarty I don't care about him either. We had a senior exec on the board last year (formerly Barrick and now BHP). It's laughable if the price rise is due to Moriarty when having a senior gold exec backing them made no difference to the sp at all.

I couldn't care less if he's neutral, positive, negative. Anyone that spends their entire posting history talking down one company that they're not invested in is a lowlife.

I hope the focus is 100% on a JV. They have said they are talking to a number of parties but at some point soon they need to deliver something.

Sounds like you're getting paid to promote his site. I've been following cgnr for years, way before Bob turned up.

Where's the JV. I don't want another desperate placing at mates rates. I don't care if it's Bob Moriarty or anyone else. They've been dragging this on for years saying they have interest from partners. Where are they.

If they have to raise money and dilute shareholders again instead of bringing in a partner that is a disaster. The only hope for shareholders not being diluted to oblivion is someone else paying for drilling and all the other work that goes into bringing the project to mine ready status.

They have been raising money and diluting shareholders for 25 years.

They better not do a private placement. That would be another betrayal. They need to bring in a JV partner like they said they were going to. The days of one raise after another year after year should be over. Get a JV partner or sell the licences and clear off.

How did this reach a market cap of £40M? Have they even got any drill results?

Probably quite a few of the short term pumper types bought in today. They sell out again the minute the rally ends.

Investors may be looking for the next multi bag opportunity but cgnr needs to give them some reason to invest. When are we going to get an update? Supposedly talks were quite advanced at the start of the year. What's happened since?

Yes we have a few sad types on here who aren't shareholders but have posted negative comments for literally years.

Having said that Sherman should stop going on about weighing up different deals. People are bored of it. Same thing since April 2024. We need some news.

It's very easy to post negatively about a company you're not invested in. That's probably why you've spent years doing it.

It's interesting how few PI shareholders post on here. Maybe they've given up. This is valued as a flop. At the other end of the spectrum you have Wishbone Gold which has no resource and a near £40m market cap.