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CDG Conroy Diam&Gld

6.375
0.00 (0.00%)
25 Apr 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Conroy Diam&Gld LSE:CDG London Ordinary Share IE0002163354 ORD EUR0.03
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.00% 6.375 0.00 01:00:00
Bid Price Offer Price High Price Low Price Open Price
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
  -
Last Trade Time Trade Type Trade Size Trade Price Currency
- O 0 6.375 GBX

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Posted at 26/1/2011 15:42 by topinfo
If you think OTC is cheap which I do then compare to CDG valued at a third almost of OTC and read this from i,i,i.

Without wishing to oversimplify things, I was interested to note the similarities between our own CDG and Ortac Resources (OTC). Both are predominantly involved in gold exploration and (following this morning's resource upgrade for OTC), both now have a JORC compliant gold resource marginally in excess of 1m o/z (using the same 0.75 g/t cut off figure for each).

However, this is where the similarities appear to end. OTC is (at the time of writing) valued at c.£41m whereas CDG is valued at c.£14m. I also note that OTC will now move to commence a scoping study with a view to publishing results "during the second half of 2011". Given that CDG initiated its own scoping study in February, it seems that we are significantly further down the track towards monetising our own resource.

Clearly this is a rather crude analogy, as it ignores a variety of other variables. I could go on and bang the drum for CDG based upon the following factors (to name but a few) - (1) operating in a benign geographical area (from a political, mining and investment perspective) (2) low corporation tax rates (3) prospect of an additional 14-19m o/z gold being contained in its Irish licences (4) that initial results point towards Clay Lake being even more prospective than the 20% (yes - only 20%!) of the Clontibret licence area which produced the JORC-compliant resource.

However, this is to stretch the analogy too far, as I do not know enough about OTC to continue the comparisons. However, when you break it down to the 1m o/z JORC discovery and relative stages down the production track, CDG does appear to have the edge. OTC appears to have the momentum behind it, but CDG may be the better value proposition. All we need is a spark to ignite the market's interest.

Roll on the results of the scoping study.....


Junior-Red
Posted at 22/1/2011 11:48 by goldeneye5
Yeh...CDG is their total wildcard (which is what TW called it), and they do continue to buy cdg shares....so they haven't sold any, they have just bought more of others, hence the % of their fund which is CDG is less.

One thing we can all be sure of is that the board dont give much away, they are professional in that regard. I expected the share price to rise from the start of the new years trading. It doesn't take a genius to realise that it should be higher than its current price. I suspect it will start to rise next week, hopefully monday..wishful thinking, i know, but i have a feeling it is about to jump next week.

Still waiting to hear who the buyer was/is.
Also think the trading and Market maker activity with this share has been odd to say the least recently. Excited about the possibilities here.
Posted at 09/1/2011 22:27 by mr_dross
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
Posted at 07/1/2011 16:53 by tadska
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.
Posted at 07/1/2011 11:20 by mr_dross
cats ofcourse they wont

-------


we through the idea of a hostile in the ring on iii last night see below from teh bottom up.

--------------------------

I think prof does have a blocking stake but Im not sure anyone know ?
I do know that if a bidder gets control of 90% of the company they automatically acquire the remaining 10% as mandatory .I also think if they acquire 75% that is a major milestone .Looking at the info Mr Dross has just provided it might not be that difficult to get 75% if the bid is pitched perfectly ,and should that happen Prof would probably but very reluctantly fold .Yes a hostile bid is possibly on the cards if no news of the buyer tomorrow and more 500ks turn up .
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Thu 23:11 Re: Buyer Still Buying Mr Dross





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i would love a hostile .. more money per share
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Thu 23:09 Re: Buyer Still Buying Mr Dross 1





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ofcourse .. with the volume traded yesterday and the share price held back ..

these are the current top holders on the co web site . that totals to aprox Professor Richard Conroy:
40,377,639 (21.20%)

Bruce Rowan:
10,450,000 (5.49%)

Patrick O'Sullivan:
10,000,000 (5.25%)

Gartmore:
9,221,281 (4.84%)

t1ps Investment Management Limited:
7,142,857 (3.75%)

that totals to aprox 77 million out of 230 leaving 163 million available well .

with whats been traded the last few days .. they could well hold over 40% already 92 million

i for one cant wait for teh next rns .

has anybody realised that we have not recieved a ( we know of no reason ) rns yet
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Thu 23:08 Re: Buyer Still Buying Spector Of Doom





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Just to add to my speculation if it was a hedge fund buying KOLS shares they too would have agreed a price they wouldnt buy them on the open market pushing the price against them .
Conroy can do nothing hence no announcement as to date they know nothing wont have received an approach and wont have been informed whos buying the shares but a worried Professor Conroy will have his team on the case to find out who the hell it is !
No announcement tomorrow and I bet its a hostile bidder ,better get the tin helmets out ready for all the shareholders letters slagging one another off .

LOL
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Thu 23:01 Re: Buyer Still Buying Spector Of Doom





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The seller KOL has reported .All these shares were bought on the open market so the buyer has gone into the market and literally hoovered them up .Now I dont think another fund or insti would do that they would approach KOL and agree a price and the sale and purchase would be through a broker as an X Trade.Now a hostile bidder wouldnt do that as KOL would say oh hello we have a bidder for cdg better hold onto our shares for a better price ,a hostile bidder swoops into the market in a fashion we have seen over the last 2 days and hoovers up all the shares and then all the games begin when they have over 50% ie the majority shareholder.
Lets take a look at the facts Conroy is sat on literally a Gold Mine and could be worth many times its current valuation .Now the Professor isnt going to entertain any bids or talk to anyone about acquiring the entire issued share capital of CDG any price south of 50p so any bid is going to have to be hostile and with the price of gold as it is and rising and cdg sat at 7p someone somewhere started the ball rolling yesterday to steal this company for a song 20p would do it imho and my goodness theyve got themselves a bargain .
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Thu 22:55 Re: Buyer Still Buying Tal21 1





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Spector,

I also noted this continued buying today. Ordinarily the accumulation of a position in excess of 30% would not be possible under the UK Takeover Code as a mandatory offer would be triggered once a position of 30% was reached. However, interestingly, I do not believe that this company is subject to the Takeover Code albeit listed on AIM as it isn't incorporated in the UK and even if it was it is not centrally managed and controlled in the UK.

So you might have something!
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Thu 22:37 Re: Buyer Still Buying Mr Dross 6





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i think we all agree theres something brewing .
the share price is most deff being held down and if someone wants to give me 20p a share in the next few weeks / months i will rip there arms off .
20p a share works out under 50 million .. cheap as chips for a big player
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Posted at 05/1/2011 22:49 by goldeneye5
granada, I have always based my expectations on the expectations of management. They are no fools. When Conroy discovered the zinc at Galmoy, years ago, the share price languised at 20p and were not taken seriously at first. But they rose to £5. I believe pounds will be reached in CDG, but in the next 3/6 months i am looking for 20 - 30p. If there is a deal with a major, then higher than this. I must stress that this is "not" based on any proper calculations, just my expectations. Anything could happen to the share price here.
Posted at 05/1/2011 11:14 by hope67
posted by Riverrock2 on iii

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.
Posted at 04/1/2011 17:08 by goldeneye5
From ...
today

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.
Posted at 09/12/2010 23:04 by goldeneye5
Fair point, but i cant see this going below 6p. I would be very surprised. I have a significant holding at 3p and didnt sell a single share at 11p, as i expect a serious share price in the future here. Even a 50,000 oz a year mine, which is what we will probably get as a starter would see the share price in a completely different ball park. Taking gold at $1400 (and i believe this will continue to rise, so could be nearer $2000 by time a mine is operational)and operating costs at even say $600 an oz, the cash flow would be serious. I have no idea what that would do to the share price, i would leave those calculations to the experts, but i am fairly sure the share price would be way higher!

If you can buy at approx 6p, you are getting a great price. This could re-rate very quickly, when it starts. Scoping results in first 2 weeks of January will be the news to start the share price moving
Posted at 28/10/2010 08:08 by goldeneye5
28 October 2010

Conroy Diamonds and Gold Plc
("CDG" or the "Company")

Placing and subscription to raise GBP1.8 million and debt capitalisation

* Placing of 25,833,333 new ordinary shares at 6 pence per share to raise GBP
1,550,000 before expenses

* Subscription for 4,166,667 new ordinary shares at 6 pence per share to
raise GBP250,000 before expenses

* Debt capitalisation of GBP600,000 at 6 pence per share

* Proceeds of the placing to be applied to accelerate ongoing programmes at
its Clontibret and Clay Lake gold targets

Conroy (AIM: CDG), the gold exploration and development company focused on
Ireland, announces that it has conditionally raised GBP1.8 million, prior to
expenses, through a placing (the "Placing") of 25,833,333 ordinary shares of
EUR 0.03 in the capital of the Company (the "Placing Shares") at a price of 6
pence per Placing Share (the "Placing Price"). Conroy also announces that it
has conditionally raised GBP250,000, prior to expenses, through a subscription
(the "Subscription") for 4,166,667 ordinary shares of EUR 0.03 in the capital
of the Company (the "Subscription Shares") at a price of 6 pence per
Subscription Share (the "Subscription Price"). In addition, Professor Richard
Conroy, Chairman of the Company, has capitalised loans amounting to GBP600,000 by
subscribing for 10,000,000 ordinary shares of EUR 0.03 in the capital of the
Company at the Placing Price (together with the Placing Shares and Subscription
Shares set out above ("New Shares")).

Following the admission of the New Shares, Professor Richard Conroy will hold
50,377,639 Ordinary Shares in the Company, representing approximately 21.9 per
cent. of the Company's enlarged share capital and total voting rights. In
addition, Mr Seamus Fitzpatrick, a Non-Executive Director of the Company,
subscribed for 136,667 Ordinary Shares in the Placing. On admission, Mr
Fitzpatrick will hold 315,667 ordinary shares in the Company, representing 0.14
per cent. of the Company's enlarged share capital and total voting rights.

The Placing Shares were placed with institutional and retail investors by XCAP
Securities Plc ("XCAP"). The Placing and Subscription are conditional, inter
alia, on admission of the Placing and Subscription Shares to trading on AIM and
the Enterprise Securities Market operated by the Irish Stock Exchange Limited
("ESM"). The New Shares will rank pari passu with the existing issued ordinary
shares of EUR 0.03 in the capital of the Company ("Ordinary Shares").

The Company intends to use the net proceeds of the Placing and Subscription,
amounting to approximately GBP1,675,000, primarily to fund the Company's ongoing
programmes at its Clontibret and nearby Clay Lake gold targets and for working
capital generally.

The debt capitalisation by Professor Conroy is considered to be a Related Party
Transaction under Rule 13 of the AIM Rules for Companies. With the exception of
Professor Richard Conroy, the Company's directors consider, having consulted
with the Company's nominated adviser, that the terms of the debt capitalisation
are fair and reasonable insofar as the Company's shareholders are concerned.

Application has been made to AIM and ESM for the New Shares to be admitted to
trading. Admission and trading in the New Shares are expected to commence on 5
November 2010.

On admission of the 40,000,000 New Shares, the Company will have 230,464,487
Ordinary Shares in issue in total.

Professor Richard Conroy, Chairman, commented:

"These monies will allow us to accelerate the development of our gold projects
in Ireland. At one of our targets, Clontibret, we already have, on 20 per cent
of the target, a resource of 1M oz, and another target, Clay Lake, has, we
believe, even larger potential.

"Additional drilling will be carried out on both licence areas and we will
continue with the scoping and environmental studies at Clontibret."
Conroy Diamonds & Gold share price data is direct from the London Stock Exchange

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