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His version of very soon is nowhere near mine, we are reduced to guessing what other companies may do now as CNR has managed to provide little to no useful information for 18 months, sadly they are still being paid for their lack of activity.
Will he announce that we are going to build a mine then so we can waste a few more years with nothing happening? The positivity of some posters is admirable, I’m afraid all I see is a long sales process that hasn’t yielded a single offer so far, whilst Child collects his wages for doing absolutely nothing.
Can the board call time on the process? They have painted us into a corner by saying we are not miners so offers of finance to build a mine are hardly going to come flying in. Over a year has passed by now and it appears that nothing is happening and no suitable bids have come in, bit of a disaster really.
There is a consistency with MC though, when he is an explorer he doesn’t do any drilling or exploring, when he is a miner he does no mining and when he is selling a site he doesn’t do any selling. Why he is paid anything for this lack of productivity is a mystery?
He doesn’t have a choice in holding longer as no one has put in a binding offer. Another wasted year for CNR, land still not bought, the “cleared” land must be covered in vegetation again by now, no drilling to prove up resources, still at least the directors got paid for whatever they do…..
I find it difficult to believe the board have performed well enough to justify any options, we haven’t added any gold to our resource for ages, we haven’t built a mine, the share price has sunk again and we haven’t sold the asset despite begging anyone to make an offer, what is this reward for? If any of them had a shred of dignity they would be apologising for their inept management.
The lack of news is disappointing but pretty typical for CNR. I hope an offer does come in, or more than one ideally, but if one doesn’t then we will have had another year wasted with absolutely nothing done to advance the project and more money wasted.
Three months since the sale of assets announcement and no updates at all, fairly typical for CNR sadly. The fact that CNR are going to the inappropriately named Master Investor Show in April suggests that there is no interest in buying the assets and we will limp along with no plans to build a mine and no options to do anything else, at least the directors will still get paid till the latest money runs out.
A cryptocurrency involving MC, which will challenge the US dollar as the world’s currency, forgive my scepticism but it sounds like a fantastic way to lose money over a long period of time.
Any sign of any offers for CNR yet?
Hasn’t this always been more of a gamble than an investment? The abrupt change in direction has brought this into sharp focus, a year ago we were (very slowly) heading for the BFS for production, now we are selling the whole lot (though we have neglected proving up the 10 to 15 million ounces MC claimed). It’s a mess and MC has failed once again with his talk of regular updates, hopefully we will get some of our money back but it is far from certain given the lack of urgency and competence shown by the management.
Previous talk of potential investors has come to nothing, the prolonged silence makes me wonder if serious miners just see this as a joke given the lack of development over the years.
Hopefully there will be an update at the end of this month about the bidding process, however with CNR there will probably be silence and an announcement in March that the company is going to start a banana plantation on the land, shortly afterwards MC will say he has bought a cherry picking machine that cannot be adapted to picking bananas.
Pretty pathetic that MC was trying to avoid investors, I wouldn’t bet against the company being sold off cheap though and PIs being screwed over. I had high hopes for this company but it has been badly managed and the various strategies have been dire. I should have bailed out years ago but hoped things would turn around. MC should be ashamed about how little of the reserves have reached indicated level, a complete charlatan!
I would agree with your disappointment, ten plus years have passed by and we are left with a confused company that has a SAG mill for no apparent reason, an expensive water distribution outlet, not quite all the land, a small area of proved gold and a large area of guessed gold which has no real value. The incredible slow pace of progress has lead to us missing the years of cheap interest rates and the political situation has changed for the worse. JM will only be interested in himself, I hope MC loses out on another payday just as the smaller holders will.
Hopefully it would be paid out to shareholders as a dividend, I have no interest in it being invested in another project for MC to mess up over a decade. I worry that the money will disappear to consultants who pocket the cash and shareholders get little out of it.