Member Info for DeathStranding

Thanks Robemy.
Then perhaps you can answer my earlier question - Where are the mineral deposits that make up the 8.8 Moz exploration target (17 Clontibret sized deposits) and what are their characteristics? This is the most outlandish claim to an exploration target I have seen, yet there is little or no substance behind it.
DS

We disagree on what constitutes fundamentals then, Positivevibes.
Take care,
DS

Outlandish claims deserve to be challenged. If they can't be substantiated they are just hype and speculation.
"CGNR has the potential to be bigger than the largest gold mine in the EU" - how do you get there from a 517,000 ounce resource of refractory gold?
"8.8million Oz+" - that's 17 Clontibret-sized mineral deposits. Where are the mineral deposits that make up this number and what are their characteristics so that investors can assess the veracity of this claim?
Robemy: "The gold trend they refer to extends southwards rather than into U.K. " - if you live in the area then I stand corrected but that's not the picture presented by the CGNR website which clearly shows the Clontibret area at the border and the trend extending to the Clay Lake prospect in County Armagh. https://www.conroygoldandnaturalresources.com/projects/longford-down_massif.

Positivevibes,
So if I understand correctly your own belief in the 8.8 Moz is based on the fact that the company keeps saying it ?
That's fine, just thought we might be able to share some dialogue on the technical support (which is not apparent to me in their announcements) but probably not.
All the best then,
DS

Positivevibes,
Perhaps you could explain how you extrapolate:

- 517,000 oz JORC (2012) gold resource
- 197,000 oz of which is in Inferred category so can't be used in an Ore Reserve
- Grade of 2 g/t Au, which is refractory meaning that it cannot be extracted using conventional processing methods (bio-oxidation or pressure oxidation required, followed by cyanide leaching)
- Located in County Monaghan farmland adjacent to an international border with the UK

into the largest gold mine in the EU?

Perhaps you could also point us towards which information you use to substantiate the so-called "exploration target" of 8.8 million ounces that you are so fond of repeating?

Much appreciated,

DS

Positivevibes - no definitive agreement was signed yesterday. Read the announcement.

Plface, if you want a reason why it hasn't rocketed then maybe look back at the November 2020 results announcement:

“We look forward to finalising Joint Venture arrangements and to developing our first mine and to further successful exploration on our other licences in Ireland and Finland.”

Sound familiar?

Nozzla, seems the market is saying "we'll believe it when we see it".

Recent article on gypsum mining in Co. Monaghan:
https://www.irishtimes.com/news/environment/monaghan-sinkholes-the-mining-is-a-cancer-in-our-parish-1.3754925

Positivevibes, I agree that people should make decisions based on RNS reports rather comments on bulletin boards, be they positive or negative, and I expect that's exactly what happens.

I'm sure they would:
- Look at the latest drilling results and compare them to the previous intersections reported within the announcement and decide for themselves whether they are good or bad;
- Look at the 29th July report and decide whether 15 soil samples above 10 ppb Au points to a meaningful drill target;
- Take a view on whether the results being reported support an 8.8 Moz district scale target;
- Take a view on the risks to the investment case for a 320,000 oz Indicated, 197,000 oz Inferred mineral resource @ 2 g/t Au in refractory orebodies requiring bio-oxidation and cyanide leaching, to be mined from an open pit located in the Irish borderland.

I do hope the Demir deal goes through and wish you well.

Phoebus, according to the RNS the '6.6m @ 6.1 g/t Au and 22.0m @ 2.0 g/t Au' are from previous intersections, so today's results don't seem to support those levels of mineralisation and don't bode well for the oft quoted "exploration target".

Indeed mol_man99, alas permitting explosives and a bio-oxidation cyanide plant in the Irish borderland is the least of the problem here. An economic deposit needs to be proven up first. Never going to happen. As to whether Demir does a JV, that depends on what motivates them. This may be an easy entry into other business opportunities in Ireland, of which there are plenty.

Well it will take a lot more than 10 ppb soil anomalies to get to an 8.8 million ounce gold target. The scale and grade of deposit required to deliver that kind of number is remarkable which is why the market dismisses the Conroy claims as nonsense and prices accordingly.
Any JV will have to focus on how to turn their 0.5 million ounce JORC resource of low grade refractory gold into a commercial proposition. Good luck with that.

The fact is fifteen soil samples over 10 ppb gold is not a good anomaly by gold exploration standards and doesn't make for a high quality drill target, and they will certainly want to do better than this to meet the hype for the district.

There is no 8.8 million ounce gold potential - this is a fantasy figure without foundation and the market clearly does not believe it. Conroy has a JORC classified mineral resource estimate at Clontibret of 517,000 ounces of gold at a grade of 2 g/t gold. Of that, 197,000 ounces are in the Inferred category only (insufficient confidence to be used in any Ore Reserve estimate so more definition drilling is required). The gold is refractory in nature, meaning it cannot be extracted using conventional processing and Conroy has said that bio-oxidation followed by cyaninde leaching is the likely processing route. There has been no meaningful progress on the project for several years. Good luck.

Nice post fingeronthepulse.
This will only get credibility if Demir does a deal and finds some way of making a 500,000 ounce, narrow vein resource at 2 g/t of refractory gold at the ROI-NI border a viable proposition. A lot more drilling, testwork, and permitting work is still required. AAZ obviously weren't compelled to do the deal. It appears to me that this project has been around for years without meaningful developments and the market is not convinced and is pricing it accordingly. You did well to come out in the money.

I should think that if Demir enters a JV then it will be based on the realities of developing a JORC (2012) resource of 320,000 Oz Au Indicated, 197,000 Oz Au Inferred (517,000 Oz Au of refractory gold at an overall grade of 2 g/t Au), and valued accordingly, and not on an 8.8Moz district target which nobody believes. CGNR's own reporting points to BIOX processing of the refractory gold at Clontibret being required to achieve acceptable recoveries. Demir will presumably look carefully at the economic and regulatory viability as part of due diligence.

Positivevibes - It is complete nonsense to suggest that an unfounded 8.8 million ounce Exploration Target will be derisked by due diligence drilling on an estimated JORC (2012) resource of 320,000 Oz Au Indicated, 197,000 Oz Au Inferred (517,000 Oz Au at an overall grade of 2 g/t Au).
It's good to read that Demir is doing proper due diligence. The drilling will test the veracity of the resource estimate, and Demir will presumably also need to get comfortable with the metallurgy of the refractory gold and permitting risks. It will be interesting to see how this goes, the project apparently having gone nowhere for years and AAZ already having walked from a JV.

In my experience such numbers are pie in the sky until proven by drilling and the market seems to think so too.
According to JORC only Indicated resources have potential for economic factors to be applied, Inferred needs more drilling to increase confidence so there still seems a way to go, and this project appears to have been at this stage for a long time without traction in the market.
I got interested here because I was curious about why AAZ would be interested in 0.5 million ounces of refractory gold near the Irish border. Maybe Demir can see a way through the metallurgical and permitting risks - hope so!
Good luck to everyone on their investment.

Positivevibes: Conroy does not have 8.8 million ozs. The company's own website states "a (JORC 2012) estimated resource of 320,000 Oz Au Indicated, 197,000 Oz Au Inferred, (517,000 Oz Au), at an overall grade of 2 g/t Au".