Broker Note11 Oct 2016 11:48
Good find Yogi,CGNR current £3m market cap works out at just £5/oz in-situ, but the Company is confident that the Clay Lake – Clontibret Gold property alone could become a multi-million-ounce deposit. Compare this with Dalradian Resources (DALR.L), an exploration and development Company also operating in Ireland,with a market cap of £182m the company is valued at over 60x that of Conroy Gold. Its measured, inferred and indicated resource of 4.4moz is just 7x larger, a clear disconnect. There are many parallels in terms of jurisdiction, acreage, geology and the potential for resource expansion. Clay-Lake - Clontibret alone has the potential to close the resources gap with Dalradian.