RE: 2 big catalysts in 12 days6 Dec 2021 11:56
Definitive agreements with Demir Export are now at an advanced stage and an EGM is expected to be convened shortly to seek shareholder approval for the proposed joint venture. We are now entering a new era and my colleagues and I look forward very much to working with the Demir Export team on the joint venture partnership - Project Inis – once the agreements are concluded and building the foundation for a long term, successful relationship.
We look forward to developing our first gold mine.”
This JV derisks the year ahead to production and to expand the already proven 517,000 ounces into the 15-20 million around them
12.5mil mcap - CGNR was priced to fail, we’re still under the placing price, 100p 40mil mcap will still very cheap
GGP has 3.2million ounces of gold + copper and are set to expand - they will own 25% and are derisked to production by gold major newcrest who own 75% - they currently have a 570million mcap while still 2 years away from production
CGNR have a 10.4 million Mcap and are concluding a JV with a fortune 500 company on the 22nd of December
https://youtu.be/mnV3iylM8xo 2:23 they have potentially 15-20 million ounces
https://twitter.com/ConroyGoldplc/status/1461311492993781764?s=20 The 517,000 ounce JORC resource, which is a tiny part on clontibret alone
https://twitter.com/ConroyGoldplc/status/1466026307347693571?s=20 - a series of potiencial multi million ounce gold targets along the 65km gold trend
Each Financing Share and Debt Capitalisation Share carries a warrant to subscribe for one new Ordinary Share at a price of 50 pence per Ordinary Share exercisable for a period of two years from the admission to trading on AIM of the Financing Shares and the Debt Capitalisation Shares (“Admission”), creating 6,818,175 Financing Warrants. Any warrant holder who exercises Financing Warrants on or before 31 December 2021 will also be issued with, for every Financing Warrant exercised, an additional warrant to subscribe for one Ordinary Share at a price of 100 pence (£1.00) per Ordinary Share, again with a life to expiry ending two years from Admission. If all Financing Warrants are exercised before 31 December 2021, 6,818,175 Super Warrants would be created. Should all the above Financing Warrants be exercised on or before 31 December 2021 and subsequently all Super Warrants be exercised, this would generate an additional c.£10.2 million of funding for the Company over and above the £2.25 million secured through this Financing.
100p would be a 40mil mcap
20million+ cash for drilling
A 517,000 JORC resource
Derisked to production and for the years ahead to expand into the 15-20million ounce potential
Following the JV, once CGNR expand beyond 2.5-3 million ounces, 104million valuation 10x the current price will look cheap
The largest gold mine in the EU is 4.4 million ounces - CGNR potentially have more
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