Member Info for DeathStranding

"The Q3 drills were intercepting gold down to 350m".
Where did you get that from?

You're wrong guys, do your research.

It was in the Sunday Roast, the interviewer asked about results of the drilling announced last year, the response from Mr. Conroy was "in due course". Results from any such drilling should definitely be in by now. If they are negative or not material they would not be announceable. Maybe it'll come up in the interims at the end of the month. Remember there was no discussion of what the targets were, just the licences they were on. All very vague and likely to be uninteresting.

FV if you listen to the Stockbox interview it is clear that they are still in the planning stages with Demir, site meetings coming up to decide the programmes for the next year. The takeaway for me is there is no drilling in progress at the moment, seemed pretty clear.
Some anticipate results from drilling on a couple of the permits announced in Q3 last year, but the reference used for these in one of the interviews was "in due course" which in corporate speak translates as "maybe never".

Still €3 million owing to directors and former directors on the balance sheet - I'd say they're all in.

Respectfully, multiplying hypothetical undiscovered gold by the gold price is a meaningless figure.

Volume is very low, hardly mass selling, just no buyers around. Hopefully we'll get a strong operations update this month or at the very latest a good set of interims.

Good luck then. Been fun discussing it with you.

Let me put a question back at you. What do you see as being the catalyst for a re-rate?

Just for clarity of course Demir Export is itself not a Fortune 500 company but is a member company of the Koc family industrial-commercial conglomerate.
It's also a private company that has not disclosed its reasons or criteria for entering this venture.
All I could say with any certainty is that Demir Export has decided that it is worth €10 million in risk capital on a staged basis to earn 40% of the project.
Clearly the primary focus is Clontibret so whereas previously I was very sceptical based on the reported grade, metallurgy and permitting risks, I would see Demir's entry as significant validation of that project and am interested to see what comes out of it. Still plenty of risks attached, but CGNR at least gets a free carry.
But I do not automatically assume that Demir's entry validates everything that CGNR does or says. We don't know what they think. As a private company I assume they will be boringly pragmatic and focused on generating revenue. They don't trade publicly so there's no benefit to them in speculative announcements. Some funds will go into progressing exploration prospects to keep permits alive and provide some optionality, then if there's eventual upside, both parties will get the benefit.
That's what I think, for what it's worth, but I recognise that plenty of people here have a more bullish outlook.

The direct relevance of results to the current discussion is that companies aren't allowed to put numbers into the public domain that are not supported by results of exploration and drilling. When I first came across CGNR via the AAZ deal and based on my experience investing in development stage resource companies I thought the 8.8 million ounce exploration target was incredible for an unknown junior, so there must be some incredible results behind it. That target represents 18 Clontibret size deposits, or 2 x 4.4 million ounce deposits. Look at Rupert Resources in Finland to see what a multi million ounce deposit looks like in terms of drill results. CGNR have some interesting looking grassroots prospects but nothing that I've seen that supports that kind of magnitude. Look for yourself and decide - that's what I've done.
The exploration target is based on a hypothetical drilling success rate, rather than realised exploration results. Mr. Conroy acknowledged as much in his Sunday Roast podcast. There's a high level of ambiguity therefore I can understand why in this case the market ascribes no value to "potential". If you believe in it and it comes to fruition then I doff my cap to you but realising that level of potential is far far away. Hence why I argue for the focus to be on near to mid term delivery of Clontibret.
Perhaps there's a geologist on here who can clarify the above.

"Results are meaningless..." - didn't see that one coming!
Seems we are expecting completely different things from our investments. All the best, parkez.

Sure parkez you can take his word for it, or you can look at the company's reported results, compare to genuine multi million ounce projects, and decide if they support that level of optimism.
In the meantime the here-and-now story for investors is JV plans for Clontibret. Look forward to hearing them. Also interims are due out later this month.

Parkez, absolutely the focus should just be on Clontibret. It's the only advanced project with a resource, it's where the vast majority of work is done and all the shareholder capital is sunk there. If the JV can't deliver Clontibret for whatever technical, economic or regulatory reason then you are back to being a grassroots exploration company. Therefore it is absolutely pivotal to the company's success.
It is also the clearly stated primary objective of the JV.
People can bang on all they like about derampers and negativity. For all the talk of potential the market is not responding, and it hasn't responded to that same narrative for years. You can shoot the messenger, I really don't mind.

FA, my issue with the Sunday Roast format is the level of speculation around future potential. Sure there is exploration potential and Mr. Conroy clearly has a deep belief in the district but until it can be quantified with drill results it remains ambiguous and whether you share the belief or not, the important point is the market does not respond to that narrative.
The focus of the JV is clearly developing Clontibret so marketing profile should also focus on progress to achieve that goal. Deliver that and the market will respond, the rest will follow.

Sproutsdave I would add social licence to that list.

Solid market response today to the Stockbox interview. Let's hope they do more of that kind of thing as the JV progresses and confidence will build.

See page 16 of the latest annual report for risks and uncertainties, you should inform yourself of the risks associated with any pre-revenue mining company.

I don't think you'll get a straight answer to that Drew57 and I think there's a lot to be done in terms of feasibility study and mine planning work to even get to the decision point to pull the trigger on PP. Mining companies are usually quite reticent on the subject until development is more advanced.

Positive market response so far to a short, professional Q&A providing current status and visibility to investors of immediate to mid-term plans.