Member Info for DeathStranding

Seems a strange place to hold a private conversation.

216 shares sold today. Is that you finally selling out?

Great stuff. Except:

AAZ pulled out and let Demir do a deal instead

Demir exited the JV when gold was $2,300, after sinking €5m, so a $500 rise and outlook for even higher prices was not convincing enough for them to stick around.

There is no evidence anywhere that they were looking for a quick buck.

There was no suggestion at any point that they were interested in another JV partner therefore nothing "obvious" about it.

Sorry should have phrased my previous post better - I agree with what you say about it being run as a family business. I don't agree with it being run that way at all!

GB - There are technical people involved but they are not running the business. I agree with the way it is run as a family business yet is majority owned by other shareholders. The governance is very offputting for investors. But then it's up to the shareholders as owners of the business to invoke change. A rights issue will be the moment for that.

You've been wrong all along.

Perhaps the only funding option at this stage will be a rights issue in which case investors will surely insist on disclosure of meaningful technical information and a current resource, replace the management with a technical team, and halve the number of directors.

Seems you still haven't figured out how corporate transactions work.

I guess if AAZ really want it they could pick up now for peanuts. But I don't think they'll go near it.

I don't know any of the people here but they all get paid. Very few exploration companies succeed but plenty people succeed in making money by running them.

Gold price makes no odds. Gold price rose to $2300 during Demir JV and they still quit. No growth in resource since 2017 despite thousands of metres of drilling. A resource update into a rising gold price would give investors something to trade. Instead, 4 months with no news. Vacuum.

Not allowed to trade on other exchanges for a reason.

GB: The company is valued at £3m - so there is no scam or con, no hoodwinking or geriatric conman. Or if there is, no-one appears to be falling for it.

GB, makes you wonder then what they employ geologists for, if they can't produce investor ready output of drilling results and update their targets. Garth Earls is still a director, Kevin McNulty is still the senior geo. Presumably neither have lost it/ gone bankrupt/retired/died.

Doesn't sound like you are ready to be persuaded but here you go anyway:

A broker note is not an official document of the company.

Just saying it is JORC compliant doesn't make it so. AIM companies are not held to account for their statements by a regulator the same way Australian companies are.

So with thousands of metres of drilling since the 2018 report you are referencing, what's the impact on targeting? Not a single ounce has been converted from "exploration target" to "mineral resource" in all that time. Don't you wonder about that?

How can 2-3 Moz be conservative. That is another 5 times what has already been drilled. By no measure is that "conservative". You may recall (or conveniently forget) that this resource started life as 1 million ounces - estimates have shrunk over time, not grown. That's a fact.

GB - was it really in the "matrix" of that 8Moz (where does it say so)?

Was the 8.8Moz "exploration target" actually JORC compliant (spoiler alert - it wasn't)?

Where is it now - it's not in the investor presentation, or on the website. Conveniently dropped now that there is an industry geologist on the board?

What was the impact of all the JV drilling on this fantastical figure?

So many questions. And meaningless numbers unless there is some support for them. A map, a cross section, just something.

"2-3Moz potential deposit". Must have missed that announcement. Surprised it's not in the investor presentation either, or mentioned on the website. That sneaky prof, giving away the project cheap to the majors!

No change in stated resource in over 7 years despite thousands of metres of drilling. What is the actual resource?

2 years of JV drilling with no significant results.

JV partner exit after €5 million spend.

Uncertainty around Dalradian planning decision.

Company has no cash.

Challenging times.

Goldbug nothing adventurous about it, just a catalogue of shocking governance decisions in not being able to separate the affairs of two businesses.

The KDR NI licences have nothing in them.

Goldbug you are an indirect shareholder in KDR via CGNR. A wonderful piece of business by the CGNR board.

Plenty of clues. Everyone can see the results they got.

In the meantime https://www.mining.com/barrick-projects-30-growth-in-gold-equivalent-production-by-2030/

Not a company about to do a tiny JV in the green fields of Ireland.

Fairview December 2021: "Demir is part of a fortune 500 group. For them to do a deal with Conroy is amazing. The prof has pulled off a master stroke."