Member Info for PaulFG

Patience guys it always takes longer than you'd want.
We'll get there.

I disagree, after the last debacle with OCIM the market will want to know:
A - financing terms
B - the deal has actually been SIGNED.

Might be small rallies leading up to this, but with investors burned (myself included) the last time, they will await hard confirmation of a signed deal.

13 months, very welcome news...

Difficult not to be bullish here, so many things appear to be going the right way. In the back of my mind I keep thinking what happens after 180 days...
So I am not expecting a decent rerate until financing deal announced and terms examined.
That's what's holding us at these levels, we all know that, and given what happened with ocim the long term investors are even more sceptical.
Until financing done I am interested to hear gcat plans for this mini gold production boom and how it could contribute to the long term survival and development of the company, especially in the event that a financing deal is not secured.

I get the feeling it's just general buying - investors looking for value in the sector.

If volume was ever to land here, given the liquidity, you'd want to have your boat loaded already.

ProfC probably getting them to check their decimal points again...lol

@color, yes right now there is simply nothing to invest in - they effectively have nothing apart from data. Until those licences are returned, which I honestly thought would have happened by now, you couldn't advise anyone that this is a good proposition.

@mole - I meant since the JV with DEMIR

Don't think progress has been that slow here tbh.
Even a $4m spend has to be spent correctly otherwise it's wasted.
Tell you something though, you have to have the patience of a saint to buy here in dribs 'n drabs, any volume at all and SP moves...

I have to say my patience is really being tested here. The longer it takes for GSMB to turn this around the more unsure I become.
I think the lesson learned here, for me, is jurisdiction has moved way up my weightings when it comes to decision-making on investments now. Geopolitical risk is risking throughout the globe anyway but honestly with the experience here with the SL authorities I think I've had it with these regimes.

DS, up to this point I've always been willing to give you the benefit of the doubt wrt motivation.
However, the ascertain that there was a 3 month delay between the termination of talks and the official announcement, regardless of the compliance implications, that AAZ would do that with no obvious benefit, because they were nice guys?, just isn't credible.
The fact that you propose such a notion severely taints all your future postings here as far as I'm concerned.

I'm with Troajan here.
I'm no geologist but for me the thing here is that not one but TWO strategic partners with expertise lined up, sans invitacion, to offer strategic partnership deals with CGNR.
They both went to signing on the line after, you would assume, a huge period of in-depth due diligence, site visits, and forensic examination of all the data generated over the decades by CGNR. IN the end DEMIR won out by what appeared to be effectively gazumping the other party and CGNR secured a truly fantastic JV agreement - we all know the details.

I just don't think that that would have happened unless DEMIR assessed the probability of a major success to be pretty high and were advised so by their inhouse/external professional advisers + geologists.

And we have seen further gold discoveries almost on every announcement since...I think there is huge potential here, not least supported by the trending up gold price, the demise of the USD as a world currency to a BRICS currency backed by GOLD, Ireland as a first-world stable jurisdiction...etc.

This is cheap given the potential, though perhaps not given the current discovered gold in the ground (to go to DS's point).

Bizarre random tweet today from Proactive: https://twitter.com/proactive_UK/status/1643925533665755138?t=PHyqPobyS27oTXfngZLK6w&s=19

DS is correct, there currently isn't sufficient identified resource for a mine.

However, there seems to be enough potential to attract two unsolicited strategic partners to make JV proposals, with DEMIR succeeding in one very favourable to CGNR and moreover for DEMIR to commit significant $$$ resources to expand and accelerate the exploration in the district.

At this level/mcap with 45m shares in issue it's worth a punt, nice timing too with the start of the next tax year and ISA allowances resetting.

AH yes, of course, True SW

looks like safety training?

"... still no mining operations started yet..."

Are you having a laugh? 'Mining operations' are years away.

Oh DRJJ, such a clickbait headline. haha

This'll just take time. Hopefully, given the last 20 yrs of activity, Conroy can direct operations to obtain best results. I'm really looking forward to some deeper drilling activity, given what we're finding so close to the surface.

A few things, to my mind will hold us back until the indisputable:
1. Yes we have a fantastic strategic partner, even better agreement, but lets face it Demir as a private company don't do PR, might things have been different with Newmont/Newcrest (?) probably, BUT we most likely wouldn't have secured the same terms.
2. Ireland - yes first world jurisdiction - not widely recognised as a mining location (despite being a world Zinc producer) and even less known as a GOLD location. Although, everyone has known for decades about Irish Gold it's been also widely accepted it's not in sufficient concentration/quantities to warrant a meaningful mining operation.
3. JORC - although we currently have a jorc resource it's not stellar enough to attract an influx of retail investors or a mine worthy of a large producer - obviously we're working on improving that.
4. EU/UK mess - to a much lesser extent there's the current friction between the UK & EU and this thing straddles the border, although obviously yes development is easily achieved separately, but it's another political/economic variable to consider.
5. A somewhat jaded story - after so many years there's an element of ... 'are they still doing that? Took a look years ago, no perceptible progress.'
6. Retail investor mentality - e.g. how much cash don't they have, massive dilution coming then - these guys will not research enough to hear what ProfC has been saying about the JV and no cash requirements up to the mine construction phase.

All these variables will evaporate with a major discovery/truly bonanza grades from a diamond drilling programme with which scrutiny will shift to the positive aspects:
> first world jurisdiction
> Irelands low corporation tax rate
> first world developed infrastructure.
> POTENTIAL massive TR1 gold discovery
> a management team with decades of experience and know what they're doing.
> finally, recognition of the extraordinary JV agreement that CGNR have managed to secure.

Right now it's all about geology and probabilities and most importantly perception.

Yes Goldbug,
It was a tongue in cheek comment.