Member Info for DeathStranding

Fairview March 2024: "Heading for phase 2 moron."

Fairview, July 2022. "Why did AAZ want to do a JV? Why did Demir step in? If only they had spoken to DS first! Demir hit 100m at 1g per tonne including nearly 50m at 1.5 g/t and signed the JV because they know it's good. These people know about mining and they're not going to waste their time on something unless they think it's going to be very lucrative."

Good description in the news today of a Tier 1 asset:

"Newmont is focusing on Tier 1 assets, or mines that can produce 500kozpa for 10 years at least."

The majors are nowhere near Conroy.

"Zero interest from any major company" is the current situation Goldbug.

To be fair Goldbug:

The royalty would not be huge. 50,000 oz per year x whatever gold price you choose x royalty rate (unknown but say 4% for gold). It might cover some social programmes but in terms of the Irish economy is not significant.

It will be VAT neutral.

Corporation tax take, probably not huge as mining companies tend to work things to minimise taxation.

The biggest benefit is local jobs, but "hundreds" is overstating it for a small mechanised operation.

Yes the upside is a big worry for many because the company provides no evidence that there is any. Hard to talk seriously about upside when you don't even have a baseline in the form of a current resource.

Nice try. CGNR's ground in Finland is greatly reduced and they had only one licence at the application stage at the last check. No results have come out of Finland in years. Worth nothing. Barely even gets a mention in the annual report.

The open pit mining potential at Clontibret and Clay Lake is obvious? The only study on the open pit mining potential at Clontibret was the 2011 scoping study, and in 13 years that's not been progressed. So it's far from obvious. The resource is not even obvious as it has not been updated in over 7 years. How many ounces does the company actually have after all this drilling? Basic question for investors remains unanswered.

Clay Lake does not even have a resource and is downplayed by the company in its investor presentation.

High grade depth potential is presented as a concept by the company with no evidence. They've had money in the past and could have drilled deep holes if they wanted to. The same people who claimed Demir were the experts during the JV are now saying Demir were the problem.

Dalradian's public hearings start in January 2025. No serious investment in gold on the island of Ireland until planning there is granted, which could take ages, if ever. Strong political forces at play.

100% agree fairview that lots of people will be disappointed because solely relying on a future JV is a very weak strategy. Especially when nothing new is being presented compared to the position at the start of the last JV, which was unsuccessful. The company is relying on a resource estimate dated 2017, a scoping study dated 2011 and an arm-waving comparison to a mine in Australia without any evidence of that kind of potential. Same soil maps, same old prospects, same lack of useful information, same management team. Sorry to hear of your disappointment.

Newmont also found time between talks with Conroy to sell their Telfer & Havieron stakes to GGP. Presumably to raise cash and free up the resources necessary to explore two gold trends AND bring a 517,000 ounce resource into production.

Perhaps the prospect of two gold trends was too much for Anglogold, so they had to settle for a single deposit in Egypt.

Well Anglogold must have taken a break from their talks with Conroy to buy Centamin.

Goldbug, Clontibret has had thousands of metres of drilling since the 2017 resource. Infill by CGNR then stepout in JV with Demir. Yet no resource upgrade or update. Why not?

Quite the opposite to scattergun, it seemed the JV went systematically through all the prospects and didn't find very much. Only the insiders know what was done though since there have been no maps, drawings or data tables of any kind from the company . The latest presentation does not even allude to the JV or its results. Clay Lake is downgraded to a side show.

How do you know Demir's exploration was not targeted and focused? Details have not been disclosed of what was done where - investors have no clue what any of the results, or lack of them, actually mean.

As recently as 29 Feb this year the company seemed satisfied with progress: "I very much look forward to the Company continuing to make progress at an ever accelerating pace with the exploration and development of the licences over both the district scale gold trends which the Company has discovered. We will continue to work in conjunction with our JV partner Demir Export, in relation to the 15 JV licences". No suggestion here that exploration was unfocused.

Last JV exited at $2,300. Even after spending €5m and a 30% rise in the gold price, they preferred to walk than invest any further. That's a big problem for this company.

Any idea what happened next at Alturas?

Marian is a great hire but she is only a non exec. Still she seems to have had a reasonable influence since the company has dropped its outlandish "exploration target" and no longer refers to "world class " potential. Presumably Marian knows what world class looks like, and this is not it.

You're going to be disappointed.

I reckon the market makers saw an opportunity to give it a bit of a run. Am surprised it's held up too. I reckon 7p is reasonable for a working cap raise. If the directors actually believed in it they would fund it themselves at a premium. Going to the market with a failed JV, 7 year old resource and 13 year old scoping study is not much of a story. They need to get their investment case up to date.

It has no value to anyone in the ground, except speculative value to investors trading on hype around how much there might be and whether or not there is any chance it may explored further or eventually be extracted. The actual economics of the project have never been established through a feasibility study even though the company misleadingly says in its presentation that the economics are "proven" (economics can only be proven when the returns are delivered). Gold price has a bearing on its speculative value , but as we've seen the value of the company / project has actually dropped while the gold price has gone up.