Member Info for DeathStranding

One of the posters here is hoping for a new JV partner. How's that going to happen? That would require Demir to exit which is entirely possible as this has been an expensive venture so far for them. €5 million spent and very little progress to show for it. But their exit would be a disaster for CGNR shareholders. So more likely they would renegotiate the terms.

The Demir earn in of €10 mil for 40% valued the project at €25 mil. On the basis of CGNR market value the project is now valued at only €11 mil. So no new partner is going to buy out Demir or earn in at the higher valuation. Demir will need to keep going with it or accept a significant haircut.

I see he still hasn't edited his article to correct the "JORC compliant total resource of more than 1 million ounces" to the actual 2017 resource of 517,000 ounces. Also no mention of the key technical issue that the gold is refractory and therefore very difficult at these low grades, which would at least bring a bit of respect to the article by speaking to the risks.

Your theory that more drilling = multibag breaks down when you consider they just spent a massive €5 million on drilling and the share price is the lowest its been since July 2020. Results have been poor and don't support the overstated potential as hyped by the company and its roast dinner promoters.

How can anyone take them seriously about huge potential when they haven't updated their only resource in 7 years, despite lots of drilling. The "potential" is not manifested in results, hence the share price. More big talk without any substance, they need to raise funds.

Same old nonsense. The majors aren't interested in this and would never give them such a generous deal as Demir did. How

Demir exiting would be a disaster for CGNR shareholders. And for the Conroy family. They will be doing their very best to keep them in.

You keep trying to ramp it as a multibagger without giving any rationale. All the results are in the market, investors are unimpressed. What are the catalysts?

Not credible, these "upside is huge, no doubt" and "really huge multibagger" narratives. Based on what? €5 mill spend by the JV. Nothing doing.

Curious then that Ormonde have not announced anything, given decent results are now public and there is talk of increased resource.

So it would appear.

Guess we'll learn more about what the intentions are if that happens. All it will show is they are willing to put more money in. There is no study yet to show that mining is viable.

....progress. Clontibret no further forward (doesn't work), Clay Lake too low grade (as per previous results).

€5 million is a huge spend to come away with no meaningful progr

In what way? Phase 1 was to be transformational, and it wasn't

Shareholders keep getting shafted. Share price lowest since June 2020 just before AAZ JV announcement. €5m spent by Demir JV and record gold price but back to square one for shareholder value. No resource update since 2017. Exec salaries way over market, family appointments to needless management / advisor positions, corporate jollies. Laughing all the way to the bank.

Hopefully nothing worse than the inevitable top up placing on its way.

€5m spent and all the news is in the market. So what's the catalyst for a multibag?

You're suggesting the price is as low as it can go, despite €5m of JV investment and record high gold prices. Well, the price has been lower before, and the technical narrative is basically unchanged. Just saying.

Magical thinking ("there's going to be at least 2 mines, maybe more") and make believe ("County Armagh and Monaghan are well known mining areas.").

They already have a partner spending millions. Don't see anyone else being interested based on results, or it would have to be at a lower valuation in which case CGNR would be diluted even further. Can't see it.

Unrealistic to claim "Clontibret could be mined with open pit straight away". Inferred resources have not been upgraded, there is no feasibility study (not even a current scoping study), there are no capex or opex costs, there is no planning permission. 10 years away minimum. Planning alone takes years. This is where the market is so may as well have realistic expectations.

Investors have to hope Demir commits to next phase to provide lifeline, and this happens in time to be a platform for the next placing - time is running out.