Connemara Share Discussion Threads

[bobharris] 27/6/2018 10:18

Chances are that any further drilling will yield results that are a long way off anything that would be considered viable.

Stonepark is all they have of value and how that value is realised is the question.

[paleje] 25/6/2018 15:26

It seems odd that MTR and Paul Johnson & spouse between them have near 20% and took part in the last placing way above current sp, if growth prospects are so bad. They don't normally invest to dwindle their capital, at least not for long.

[bobharris] 22/6/2018 10:17

The Stonepark confirmation has had no impact on the share price
Worryingly the news from Mine River is not good.
" Access problems hampered the programme and resulted in selecting secondary drill sites, and ultimately the program was curtailed to six holes. Most of the strike length remains untested"

Where is the growth to come from? Unless Glencore decide to buy Stonepark and further develop their interest in the are then I can't see there being any significant share price appreciation in the medium term.

[fenners66] 22/6/2018 09:04

"The company raised GBP200,000 in August 2017 and GBP900,000 in early 2018. "

And spent Zero of that £200k on operating expenses in 5 months .....

[fenners66] 22/6/2018 09:00

"Connemara, ..... is going through an interesting and exciting time. We have a new CEO, new shareholders"

The key part is new shareholders.....

They were obviously running out of people willing to put in more money and fund more Admin expenses....

I like this bit

"Patrick Cullen, an experienced exploration and mining geologist, joined Connemara in mid-2017 "

so in about 6 months the company did precisely NOTHING in terms of Operating expenses....

More of the same , wasn't that exciting !

[fenners66] 22/6/2018 08:50

Its taken nearly 6 months to write up a "1 line " set of accounts !

No wonder they never do anything else.....

Administration Expenses €214,331 .............

That's it !

Most simple P&L account ever !

And this is a quoted company.


Note it says ADMINISTRATION expenses ...... NOT OPERATING

so by simple definition they had no operating business for another whole year and blew another €214k of other peoples money ....

Why no regulator stepped in and removed this company from the exchange ?

[paleje] 20/4/2018 09:53

Group Eleven CEO sounds ok, realsistic plain speaking, says funded for further drilling, short interview yesterday:-

[paleje] 17/4/2018 15:46

Small but it's a start.

[fiachra] 11/4/2018 10:38

Paul Johnson waxing lyrical about Irish Gold prospects on Conroy BB.

[paleje] 26/3/2018 15:42

Didn't seem very strategic to me, in fact I was puzzled as to why they released the RNS at all except to tell us....

"Further details on the Company's geological modelling, target identification and active ground programmes will be released in the near-term. The Connemara Board are committed to delivery of progress, across the Company's portfolio of interests, both existing and those potentially acquired going forward"

I'd rather they focus on current assets not more 'exciting' potential pie in the sky stuff which might make brief headlines but might also mask underperformance on the stuff they've been promising to deliver for years.

[reximill] 15/3/2018 10:15

Paul Johnson bought another 1.6m shares.

[fenners66] 09/3/2018 21:19

So seven years after someone put a drill bit in the ground - and did not rush back - someone else is going to do the same........

[fenners66] 27/2/2018 14:41

In recognition of his work at the Company over the past six months, Patrick has been granted options over a total of 2,500,000 ordinary shares in the Company. The options vest in three tranches with 834,000 having vested immediately, 833,000 options vesting on 14(th) August 2018 and 833,000 vesting on 14(th) August 2019. The options expire on 13(th) August 2024 and have exercise prices as follows:


Number of options Exercise price

1,000,000 2p
750,000 2.5p
750,000 2.75p


Aha missed that bit - the fund raise was not enough - just getting paid for doing his job - whatever that actually entails was not enough - he gets share options as well......
That could be worth another £19,000 at the price now.

I could not find any announcement preventing the directors from selling immediately.....


That could not be the reason for the share price fall today could it?





I guess that's 834,000 at 2p then....

[fenners66] 27/2/2018 14:36

This is what I was looking for....

Notes to the 2016 Accounts.....
STAFF NUMBERS
The group did not have any employees other than the directors during the current year. Details of directors’ remuneration are given in Note 9.

John Teeling € 30,000
James Finn € 30,000
Vivion Byrne € 10,000
D. Varma nil
G. Berkenheger (appointed 24 January 2017) (stepping down just over a year later) But was paid as a consultant € 67,882

Vivion gets paid much less why is that?

So € 70,000 paid to directors 2016 and 2015, €160,000 paid 2014 and at least €67,882 paid to one who became a director , who did not do what " Patrick Cullen, since joining the Company in 2017 has pushed forward vigorously our project portfolio and will continue to drive company developments in an energetic and proactive manner "

Gosh how much does that make him worth then ?

Not sure that fund raise was enough.........

[fenners66] 27/2/2018 13:10

I see my post above elicited a response - thanks now I can read the 2016 accounts !

[fenners66] 26/2/2018 14:16

Can one of you apologists inform the company that the link on their Investors Information page for the 2016 Annual Accounts actually has the 2015 Annual Accounts ! please.

If you want confirmation that they are rank amateur there it is !

They want to deal in £m's of other peoples money and cannot even publish their accounts on their own website !

[jungle jim] 26/2/2018 13:46

Audioboom, good for a laugh. Apparently "By aggregating IR and digital content onto one secure and compliant platform, Vox Markets has established itself as the go-to resource for the investment community". Nope, no idea what that means.

They've applied charting criteria to CON, their target is 9.1 pence. Good luck with that guys :-))

[fenners66] 26/2/2018 10:09

Wonderful news.... for directors...

With no money to pay the director's remuneration they awarded to themselves for NOT pushing "forward vigorously our project portfolio" - by definition since they are awarding that achievement to :-

"Patrick Cullen, since joining the Company in 2017 has pushed forward vigorously our project portfolio and will continue to drive company developments in an energetic and proactive manner"

They now find a way to convert that salary into something they can sell.....

In the meantime it's another 23% dilution to existing shareholders -

New 26.49m shares issued.

How many employees were there whilst they had all these directors?