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I admit I've always been very interested in what they've got in Finland but you almost forget about it when it's never mentioned. Maybe Finland is going to big news for KDR and CGNR this year. That would be a huge bonus because it's totally understandable the radar.
This isn't important compared to the gold.
I wonder why they were at PDAC in March. I think they already knew then that they were never going to get mines built with Demir. Already sounding out partners then and had considerable interest. Know it will be much more straightforward with 100% of the licences back.
Demir were never suited to this. They may have thought that another big partner could come in but they would need to spend more money and even then it is far less attractive for another company having to give up a big percentage to Demir.
This sums up Demir as gold miners. 93,000 ounces in all those years. We can do without that kind of track record.
https://www.demirexport.com/en/proje/bakirtepe-altin-isletmesi-1
"Derryhennet section of the target which is an orogenic folded black carbonaceous shale, is such that it could possibly be a world class gold target. Black carbonaceous shale hosted gold targets can contain multimillion ounce gold deposits"
"The Clontibret gold deposit to date has a defined gold resource of 517,000oz (JORC 2012). The deposit shows at shallow depths a similar style of mineralisation to the shallow section of the Fosterville gold deposit in Australia, and the targeting concept at depth is similar to the very high grade Swan Zone discovered at depth at Fosterville."
One way or another I think this is going to work out very well in the end. Demir had no real expertise in gold mining. They are a base metal miner.
No experience of large scale gold mining and mind numbingly slow was not a good combination.
With 100% of the licences back they can focus on getting someone in who wants to build mines.
Another option that cgnr have is to do a deal on the Clontibret holding company. A company like AAZ might want to develop a mine there. A lot of work already done.
Bigger target like Clay Lake could be a separate deal with bigger gold miner. Could come to an arrangement for shared processing facility. Lots of possibilities.
Well if Demir want to do a deal with KDR that's fine. All I know is that the prof has mentioned the Canadian miners a lot and the huge difference in valuation of very similar projects there. I wouldn't be surprised if some large mining companies are aware of that too.
We were told the same thing when they last talked about a JV. People just like you saying the assets are no good. Who would want to do a JV. Guess what 2 companies AAZ and Demir. There were others before COVID got in the way. The case for Clontibret and Clay Lake is the same as it was then only stronger because Clay Lake is getting bigger and the gold price is getting higher. Demir failed to test for gold at depth at Clontibret despite the fact that the gold veins are steeply dipping. They couldn't even do something as basic as that in 2 years.
All to play for here in my opinion and from a £4 market cap that doesn't even value the known asset at Clontibret.
Mentioned in the Sunday Roast. Opinion there is Demir too slow and Conroy Gold not happy at rate of progress. Turkish economy not great, interest rates at 50% in Turkey. Mutual agreement to exit JV. Conroy need a major gold miner to develop the assets as Demir not a big player in gold. Someone big will be coming in. Probably already in talks with someone.