Member Info for DeathStranding

In the 2024 financial year, the company executives' (Exec Chairman, MD) collective remuneration was €471k full time equivalent (CGNR and KDR combined). 70% of that assigned to CGNR.

A bumper year for management despite not adding a single ounce in 16 years. Don't have to look far to see what's wrong here.

They all get fees as disclosed on page 51 of the Annual Report. Cathal Jones is shown as zero because he joined after the year end.

€358k paid to directors in the year. €330 of that to family members, all working part time for this company.

Another shocking set of results as the shareholder losses pile up and debt remains unaddressed.

No activities review in the annual report to give shareholders / investors any detail about how any of the money was spent.

I don't know those people but sophisticated investors are well aware of the risks.

Hardly an apocalypse. A few people have lost a few bob. They understood the risks. Noone will be going to the AGM never mind paying for flyers. Take it you are pleased with what the board has done for shareholders?

Demir, who you previously insisted were the experts, and swore at people who disagreed with you.

Over 7,000 metres drilled and €5.6 million spent is not negligible, in a JV operated by CGNR. The fact that details of what was done were not disclosed says it all. Investors don't like intransigence.

You've been wrong all along. Such arrogance, asking someone for their view then questioning it when it is very generously given, just because it doesn't suit your failed narrative.

This is a speculative exploration long shot and is priced accordingly.

Fast running out of road. They don't have an investible plan. Trying to find a non-refractory gold deposit, which may or may not be lurking somewhere deep down somewhere within the second best gold belt in Ulster, based on a model of a deposit on the other side of the planet, seems like a long shot.

Great fun for the geologists and the family members if they can find someone to keep funding their salaries and fees.

Ms Moroney described the current exploration level as "prospecting". Ouch!

Sure they did. Conference fees (I heard it's not cheap), international flights, London hotels and restaurants. £££.

No reference in the interview to any plans to actually develop the existing resource. Just geology stuff about what might be at depth, somewhere, they don't know if, or where, or how much, but it could be just like Fosterville if they drill to 800 metres depth.

Back to early stage exploration then needing big drill budgets and priced accordingly. Good fun for the company staff and investors alike.

Very good Edochan. Ms Moroney is a great appointment. But the talk is all theoretical and based on another deposit, with no data so far to back it up, therefore is highly speculative. It's the same story they've been punting for years, just articulated by a geologist rather than a professor in physiology. There's no financial jeopardy for Ms Moroney in this, sounds like a bit of fun.

Hope the conference fees pay off though and they meet some investors who haven't heard the pitch before and fancy a punt when it reaches the bottom.

Clearly it doesn't stack up because:

The company hasn't updated it's own numbers in 13 years, or moved an inch towards development.

Demir walked.

The market value is now £1.8 million.

Sorry.

Funny. At the time you said they were experts with access to all the data and you tried to cancel me and anyone else who questioned what was going on.

They drilled all the prospects. The results were rubbish. They walked.

Where is it on the balance sheet? Property Plant & Equipment are valued at £74k.

"probable deposits x 2 - Copper/Nickel/PGMs" - that's hilarious!

That's where you are wrong.

You have to:

1. Have it in your resource (no data for Clontibret)

2. Be able to recover it in your processing into a saleable product (no data for Clontibret)

Antimony is a bum steer. Noone is impressed.

I disagree. The prices of goods and services have gone up about the same rate as the gold price over that timeframe. Probably more for major capital items, mining equipment etc. Energy costs will have a large impact on opex, need to keep the bugs warm.

I personally don't think it's feasible, otherwise why would the company not update its project economics in 13 years.

Either way, these are the company's numbers as per its current published investor presentation. It's the only thing investors have to go on.

That doesn't make any sense.

As per page 30 of the November 2024 presentation, the most current economic study (PEA, Dec 2011) returned an NPV of US$ 72 million.

"Fervent in his belief"

This phrase in the tribute to Richard Conroy in the results announcement captures perfectly the problem with this company for investors. Belief alone is not enough. It's 10 years since this company announced it was developing a mine at Clontibret. Nothing happened. No resource ounces added in all that time, despite millions of spend. No new deposits. If you don't deliver on belief, investors move on. A few believers remain, but all they have left is belief statements. And without Richard Conroy's personality, only the bare facts remain and the company is a shell.

The financial results are awful, the governance issues of a family business and blurred lines with a failed diamond explorer are serious headwinds on top of the technical / jurisdiction headwinds.

Accounts highlight the plight of this company. Uninvestible, and nothing there to suggest it is going to change.

Antimony is irrelevant here. D

Agreed it's unimportant. Who owns shares and what they do with them is private business. Results tomorrow or next day are important to disclose state of affairs. KDR results were woeful.