Member Info for Goldbug99

@carters. Don't be fooled (if u r serious). They are living in fantasy land. 50+ posts today, most from our recent ramper Hoops. With luck he'll sell up here and go buy more KDR. It's just day traders taking a 200% profit, 0.5p to 1.5p on the same news they announced nine years ago. A kimberlite that has never been tested for resource grade or diamond value. All smoke and mirrors.

RNS Number : 8069Z - Karelian Diamond Resources PLC

01 June 2016: DIAMOND MINING PERMIT RECEIVED

SH: Where the heck is the permit ?????????

I thought you got the permit nine years ago.

1st Jun 2016 7:00 am RNS DIAMOND MINING PERMIT RECEIVED

Just remember:  The people who just made a penny or so at 4.5p did so because disillusioned shareholders who invested at 10p, 15p, even 20p were prepared to wash their hands of it and sell at 3p, not because of anything the management has done to advance the company or its projects. In terms of resource and discoveries we are no further ahead than 2017.

This latest rise was based on ~2M shares trading. What we are seeing is day traders swapping a penny here, a penny there between each other, completely removed from any activities related to gold, exploration or mining. It is like arguing which colour silk should be used in the emperors clothes.

Attacks? Where? Calling emoticons childish? They are!

Well done on the 3p to 4.5p. Commiserations on the 5p to 0. 5p.

As to the rest, what has either company done in the last 12 months, except promise a reevaluation of all core and a decade overdue resource update, and miss a drilling deadline to justify a decade's worth of investment in Finland. Ah well, December so I guess, funds permitting.

This stock now seems to be completely detached from the day-to-day business of finding gold, or even possibility that it might be able to flog the prospect of finding some to a 3rd party.

Instead the SP now seems entirely reliant on the preparedness of the CEO to lend it a few grand to cover running costs and his own expenses.

Meanwhile, the biggest shareholder from his wife's disfunctional company has migrated away from their 5p to 0.5p loss over the last 20 months to mercilessly pump this stock with childish emoticons 📉🦊 🧨💥🤮

Whilst this might make a penny or two for the sub-3p entrants, it's not a sustainable story to get back to the +15p days when the company had a JV that was actually drilling holes!

@Diamondhunter: you could do better than quoting news releases that are 16 years old!

4 June 2009 Conroy Diamonds and Gold Plc ("Conroy" or "the Company") NEW ZINC DISCOVERY TO SOUTH OF CLAY LAKE GOLD ANOMALY * Extensive Zinc-In-Soil Anomalies With Values Up To 2,947parts per million ("ppm") * Average For All 1,500 Samples

Soletrader: "this share does not need anymore premotion (promotion?) it needs solid results" NAIL ON THE HEAD

There has been no meaningful progress on the projects in over a year, apart from staff already on payroll sorting through a few dusty core boxes, collecting the odd boulder (and paying some Finn to fly a drone over the forest looking for magic circles).

The entire business strategy now seems to be just to find a buyer to flog the projects off to, so no doubt the funds will be going on salaries, travel and expenses.

I say flog reservedly, because without using the results from Demir's investment to add some value upfront, in form of a resource upgrade or DFS, any likely deal where the other party assumes all the risk is going to be a hand-over in return for a small free-carry or royalty. Management is desperate and sharks can always smell blood in the water.

(with apologies to Plini) ex Hibernia, numquam nihil novi est.

@soletrader: The same Hoops whose seen his millions of shares in KDR plummet from 6p to 0.5p in five years come to try his luck here? That's some haircut.

Only an additional 15 million CGNR shares have been issued since 40 million were priced at 45p in 2021, so all this talk of 10p is a long way from getting most shareholders back to where they were.

I do wonder if the plan isn't just to keep the show on the road until probate on Conroy's estate is through, then take it private or flog off the assets for a profitable exit.

At 3.2M shares and 33% inheritance tax, every penny on the SP costs Sherman over £10k. He needs to keep the lights on but the SP low until then. If the plan is a JV not reliant on equity, a listing is pointless. 75% vote needed I believe? 40% in the top five shareholders already, more if Hannigan and Sherman convert.

Did it occur to anyone that this might be news for news' sake? They found antimony, in the KNOWN antimony mine on the property!

No news on any JV or resource update so let's send Stonkin' Kev McNumpty down the hole with his XRF gizmo, and SURPRISE🎉, if you point it at a boulder of antimony ore it shows antimony. Shame he didn't point it at his wedding ring.

This is one step up from the old Wild West diggers trick of "salting" a mine.

@SH: it's been two months since we were more-or-less told that the team was heading to PDAC to sign on the dotted line with a JV partner.

@MJ: not as sad as having paid 20p a share for a company that had just been given 15p a share* to move forward, then watch the 🤡🤡🤡 in charge spend the next 33 months driving it down to 2p.

*Yep, the Demir deal was £5M investment and a £1M cash sweetener on ~40M shares, SP was 20p in July 2022.

@FG: that's possible, presumably written off against the KDR debt CGNR holds, or a return of stock. Begs the question as to the credibility of the self-same people who raised money at a 40% discount and gave away 25% of the company to drill their stonking™ targets, but then spent it on another company they own though. Plus it won't go far! £323k (actually £255k if you strip out debt conversions).

There haven't been any actual results or progress in a year - 0.9% Zn over 1 metre last May, and 31m at 1g/t Au in February.

Where are the promised re-logging results and resource update, ahead of the inevitable placement? What exactly do these expensive geos on the payroll do all day?

Debt can be written off or discounted with a haircut. Most of it isn't real anyhow, it's historic fees and salaries owed to Conroy's estate, his daughter, Jones, her brother etc. for decades of doing SFA.

I know you don't like the project or team DS, but to bash a deal that could dump both and get shareholders a small % of what could be the next Rupert, a professionally run producer, smacks of vendetta, so what exactly is your gripe? Why even waste your breath?

AIM is a lot cheaper and easier to reverse into, a simple admission document instead of a lengthy 43-101.

Sherman is obviously a rank amateur with no interest, roped into this by his wife, with no background or connections in the industry. In what way could shareholders be worse off swapping 20 CGNR shares for 1 in NewCo? Rupert went up 500% in 5 years, it used to be a penny stock in a completely different geography, now it's a billion m.cap. Same deal, a working Finnish mine was reversed in.

Sherman & Co., inexperienced as they are, could do worse than talk to the likes of Laiva Gold, a private Canadian company who are looking for a shell to back their 2Moz turnkey Finnish gold mine into.

These guys specialize in distressed or mothballed mines with 2-4Moz (2 others in Brazil) and want to be miners, not explorers, so would probably park or dispose of the Irish assets, but at least they are professionals with a track record, will have connections, and hey, a deal is a deal.

They are probably looking for a TSX or ASX vehicle, but AIM being in Europe, the light regulation and reporting, and the existing Finnish connection might tempt them. I mean, it's only worth the listing right now as it is.

DS: again you deflect instead of answering. They are NOT looking for CASH, i.e. a payment in return for a share in the projects. It's handing over the development, which will require investment, in return for a %. The % is what remains to be determined. Unless you value the assets at zero, then there IS a number, so again my question to you: do you believe if offered the projects for nothing, every mining company out there would refuse. It's a simple yes/no, so maybe answer it this time?

DS: no one is looking for £4M cash, they are looking for someone to come in and spend what it takes in return for 50, 75, 90%? of the projects. Unless you are claiming it is so bad that nobody would take it for free, then there IS a number between 1 and 99.

@DS: £4M is about what it would take (they've mentioned similar for the Ni-Cu-Pt prospects of KDR) to do the job Demir should have done: resource and DFS at Clontibret, deep drilling on the main prospects.

So surely that's the main reason in seeking a new JV, unless you think the entire story is hoax, in which case why are you here and not knocking down the regulators door?

Even this crew couldn't justify paying 70% of the annual opex to the directors for 20 years, hence the accruals. Note that management does NOT equal employees. Look who it is, the family*!

2024 Accounts: The Directors, namely Maureen T.A. Jones*, Professor Garth Earls, Brendan McMorrow, Howard Bird, John Sherman* and former Directors, namely Professor Richard Conroy* (and his beneficiaries*), James P. Jones*, Séamus P. Fitzpatrick* and Dr. Sorċa Conroy* do not propose to seek repayment of amounts owed to them by the Group and the Company of €3,325,822 ... unless the Group and the Company have sufficient funds to repay.

@H5O: Correct. Raising say £4M would require 75% dilution, versus giving away away 50% of the projects for the same funding cf. Demir.

But management have cleverly accrued millions in debt by charging six-figure salaries for years of doing not very much.

So they can just match any investment by conversion, limiting the dilution to the existing PI's.

Moreover major PP's are restricted to insiders like Hannigan, so PI's cannot even average down and are reliant on retail. No rights issue for you!