Conroy Diamonds & Gold Share Discussion Threads

[goldeneye5] 10/1/2011 10:41

Just wondering, does there have to be an rns to say who the buyer is? i would have presumed so.

[yorgi] 10/1/2011 10:32

Well you were right Goldenye :-)

[goldeneye5] 10/1/2011 10:18

level 2 is 6 v 1 , this is about to go up again.

[hope67] 10/1/2011 08:30

G There was good news in Co Monaghan where the exploration company Conroy struck gold. The firm, headed by Richard Conroy, is set to develop a gold mine at Clontibret after "excellent" results confirmed the find.

And the company has hopes of an even bigger discovery at Clay Lake, Co Armagh. It has raised enough money to fund the work it needs to complete feasibility studies at the one million-ounce prospect at Clontibret and is excited about the company's prospects.

[goldeneye5] 09/1/2011 23:28

Thanks to FB60 for noticing this article from
Friday December 31 2010. See CDG comes in under the letter G.

[solid trader] 09/1/2011 22:49

Well I for one respect your opinion Ricky

I am going in first thing to top up my position.

Let's see how the games play out with the mm this week

[mr_dross] 09/1/2011 22:27

i cant see the share price staying below 8p for long either .
theres some small pi,s that have built nice postions .. myself included and it dont take meny small investers who hold the sorts of postion around 100K to1 million to make cdg become a illiquid stock . add this together with a profesional buyer ( if there is one ) and we have a loaded spring lots of sells on friday would have been t traders on 3 / 5 days looking for a quick profit and selling out once they realise there not getting there 10%.
with cdg 18months to two years away from going into production .. i think this is a very good time to be buying in .
also remember kenglo the seller are now done .. so theres nothing to hold teh share price back as theres no imidiat supply of shares for the market makers to fall back on .

and the mm,s will want the share trading otherwise there making no money on the spread . and there in it for the spread .. so they need peeps to buy and sell . and if getting peeps to sell means moving the price up ... they will .

and i think the quick .5p profit takers should be out now and if there not they will be on monday .

i see the share price moving up significantly in teh short term .

but what do i know

Mr D

[solid trader] 09/1/2011 22:04

WHEN the scoping report is released in an rns - there will be lots of interest from the big boys. The Prof seems to be optimistic and is very well connected and thats why Rowan invested very early on and has continued to hold his circ 5.9% whilst keglo pretty much sold out for a significant profit prior to the scoping report being carried out. Rown probably invested circ £500k at the outset and took out some profit recently but it is comforting to see that he has not sold out. He is not one to invest lightly and appears to have a midas touch - foresight

the price can't stay under 8p too long IMHO but its not going to sprig back to the recoil position until the scoping report comes out.


solid trader

[goldeneye5] 09/1/2011 20:44

Kaos3, interesting post thanks. That makes a hell of a lot of sense.
CatsW, Rio said at they were not interested in CDG back at the time of the KDR tie up with Rio. But they didnt rule it out, maybe they needed a positive scoping result first. Rio very nearly came in with the prof on Galmoy, but just missed the boat. Not to many would know that. So they hold him in high regard, which is why they approached him with the KDR proposal.

[kaos3] 09/1/2011 20:27

G5 - probably not because he said operating mine in 2 years hopefully. so he must have had an idea about scoping results and about possible investor. his doughter went onto BOD after the scoping study began. someone does not put the most dear person into trouble (no panic LTH). Kenglo bought in also after the scoping began but it exited for a nice profit but the main reason beeing not enough finance for the mine development and the need for the funds elsewhere (GAL)

very professional buyer - not going above 7.5 p and not releasing identity for a long time and beeing able to soak up huge no. of shares

[catswhiskas] 09/1/2011 20:24

Doesnt Prof have good connections with Rio Tinto through his diamond operations at KDR may be hes done a deal with Rio and they are the buyer KDR went from 1p to 4p on this news .This is the sort of news that we need to get the share price to rocket towards 20p, should i carry on dreaming !

[goldeneye5] 09/1/2011 20:21

I am wondering could it be the prof. himself (or conroy plc, his private vehicle) who is buying back the shares?

[mr_dross] 09/1/2011 20:19

nope .. 5p will get me worried so i wil deff reconsider my postion the reason for that is i cant see it going to 5p at all

[goldeneye5] 09/1/2011 19:50

Silid Trader, you are correct, Rowan himself was an early investor, and still holds a good percentage, though he has let some warrents expire, think t was about a year ago. No surprise there as the share price was low at the time anyway.

The prof is very well connected, so i am very interested to know who the buyer is, or buyers are. Maybe we will get an RNS tomorrow.

[solid trader] 09/1/2011 19:23

Mr D

you mean you wouldn't sell for at least 15 but preferably 25p - as u said 5 - 25. typo my friend

[solid trader] 09/1/2011 19:15

topping up to total holding 0.5M tomorrow.

Is it true than Rowan - owns these shares personally and not through Starvest?

[geowge] 07/1/2011 20:09

With regard to the scoping study:

I personally think their is no question that the Conroy (the man himself and the company) are/were confident in the outcome of the scoping study. The question is are they right?

Things I'm considering are:
1) the experience and reputation of the people at the helm + the contacts they have
2) if a company isn't confident it can develop it assets into economic production, why bother risk confirming you can't. You would just keep expanding your resource and try and get shot of the assets/company or wait until the commodity price favours your asset.
3) they were talking about branching into development as soon as they knew the size and potential future size of this resource. This was a few years ago, at the time gold was 40% to 50% what its at currently.
4) this study has been in the background for some time now. If it wasn't going well, I would have thought it would have been brought to a swift conclusion and the company would have shifted focus to Finland or it be indefinitely delayed.

So I will be amazed if the scoping comes back with anything uneconomic. I think a realistic bad case would be a dependency on very high gold to keep margins acceptable, but I think the following offsets the low gold grade somewhat (as to how much I don't know):-

At gold well over $1000/ounce
Open mining (no underground)
Decent transport infrastructure (no costly railways or transport civils) which many African/Asian nations even the outback of Australia don't have
I'd of thought with Ireland in the position its in and the current value in gold they will be very keen to see it take off. It will add some prestige to the nation being the first major gold operation in Ireland.


Prof Conroy's words out of the annual report released 28th October 2010 (just over two months ago):-
"Much progress has been made; and the possibilities are very exciting as we move
into a new phase of development. We have already made further excellent
progress in the year to date and I look forward to the future with confidence."

This is still a highly speculative explorer (as all are), but given the current market cap, current assets, confidence measures in further exploration targets, confidence in management of taking this company forward, main projects being located in the British Isles, no crazy debt and 2011 news flow. It looks as good as they come to me.

I bought into this for a quick trade, but after a few days of digging and dd, I've decided to stay the course.

Very bullish for 2011, short term from experience shares of this nature can go ANYWHERE in the near term on nothing but fear and sentiment. They will defy logic in the short term also. So holding for 2011 whatever the price, no adverse news permitting. But would welcome a rerate this quarter as t1ps suggest.

As I said, I've only been invested a few days and my thoughts are not as an existing holder, but someone who has ploughed through the company history and documents retrospectively.

[geowge] 07/1/2011 18:24

I would imagine we will get a holding RNS regardless of who has bought the shares. The only way we would not get one is if no individual party buying owned more than 3% at any one moment in time surely? That being just over 6 million shares.

There was one trade for 12.5Million on the 5th Jan. This alone should have initiated a requirement for a major interest in shares RNS.

So I'm still expecting a holding RNS early next week.

The buyer could be anybody from a JV partner, investor, someone attempting a hostile takeover, multiple hedge funds or other... Who knows at this stage, I don't think anyone can call it.

[tadska] 07/1/2011 16:53

AIM listed Conroy Diamonds and Gold, the Ireland based Gold exploration company found itself hit by a bout of Gold rush speculation at the end of September 2010 which saw the shares jump from 6p to 12.75p. The share price movement was in anticipation of further step out drilling results from the company's hugely prospective Clay Lake license following on from the positive news reported to the market on 29 July 2010. The anticipated results were announced on 11 October 2010 when the company reported that 13 zones of mineralisation had now been identified. All 7 of the holes drilled to date have now reported the presence of Gold with varying grades, notably (as of the last announced drill results) 14 metres of 0.72 g/t, including 2 metres of 1.72 g/t, having been intersected in the north western corner of the Clay Lake Gold target in Co. Armagh. Results of Silver mineralisation were also reported. To date the Clay Lake drilling targets have been confined to only a small area of the large license. The area is the same location where the famous Clay Lake 28g Gold nugget was found during the 1980s which is now housed in the Ulster Museum. The most recent drill results however imply the presence of a broad zone of mineralisation arguably more prospective than the already recorded JORC compliant resource at the company's Clontibret target, 7km away (this is also based on only of the license area).

The news saw the price peak at 12.75p but subsequently following the results, profits taking and a large placing at 6p has led to the share price returning to around the level it was resting at prior to the anticipated Clay Lake results. We are already a large shareholder in the company but took the opportunity to add to our holdings recently, taking advantage of the drop in price. Over the past months price of the shares has remained more or less static around the 6p mark. There seems to be one major seller of the shares which we believe to be Kenglo One Ltd which owned, as of 30 May 2010, over 26% of the company (although it will have been diluted due to the placing announced on 28 October 2010). Our reasoning behind why we envisage Kenglo as the main seller (most likely retaining a proportion of profit, having invested at a lower level), creating the stock overhang, is that the majority of the other large shareholders are all management, or friends of the company and, one, would be unlikely to sell at such a transitional point for the company, and two, would no doubt have to disclose the fact the disposal had been made. In light of this, and the fact that almost 20% of the current share capital has recently been raised at 6p, through the issue of 40,000,000 new shares for a total of £2.4 million before expenses, we see this as the bottom.

At 6.125p Conroy is capitalised at £14 million. Moving away from the most recent focus of the Clay Lake target, January 2011 is the month that will see the release of the important scoping study stage results for the Clontibret target which houses the company's 1m+ JORC compliant resource. The company is expected to detail a preliminary mine plan along with detailed news in regards to the potential progression towards the prefeasibility and feasibility stages. We are expecting to have positive news flow towards the end of the month and as such are content to hold our position in expectation of a spring re-rating.

[yorgi] 07/1/2011 16:50

Hmmm yes more like 25p we hope :-)

[mr_dross] 07/1/2011 16:48

well im now the proud owner of 1 million of these babies and will hold all until atlease 5p or 25p hopfully the later

Mr D

[yorgi] 07/1/2011 16:37

Was a tad after all the promise of Wednesday but we will have to see what next week brings us ;-)