Conroy Diamonds & Gold Share Discussion Threads

[fingers xxd] 16/1/2011 22:12

............

[hemehem] 16/1/2011 22:00

That's the one! ;-)

[wolterix] 16/1/2011 21:30

don't tell me - an apex?

:)

[hemehem] 16/1/2011 20:28

Fingers analysis on his £1 Thread:



Wednesday is the critical day for this one.

[solid trader] 15/1/2011 21:38

possibly 21/28th January give or take a few days

[geowge] 15/1/2011 18:08

shafaq,

All I have is this info to go on:

####

"July 13th 2010 (from minesite):-
But in the meantime, all eyes will be on the results of the scoping study on Clontibret that got underway in January of this year. This will be complete by August, according to the Professor, and will encompass detailed studies into the economics, technical aspects and metallurgy at Clontibret undertaken by Wardrop. But, as with the work that Golder will now initiate on the environmental aspects, the Wardrop study will also take account of the proximity of Clay Lake and Glenish. And, according to the official company press releases, Wardrop and Golder "will work closely together", so in theory, the whole investigation into what Conroy calls the Armagh-Monaghan gold targets, will be one big joined up exercise."

#######

so sounds like the technical/economic study part of the scoping study should have been completed a few months ago (given the target was 2 weeks after the above article)

########

"28th Sept 2010 (GE&CR brokers note):-
The Company is on the threshold of moving from the exploration phase to development which should allow the market to place a far higher valuation on its deposits. The board is seeking to press ahead with the development of a mine at Clontibret provided this can be economically justified, something that should be clarified within weeks as a scoping study is currently in progress."

######

Obviously scoping study didn't come in weeks, so was late and Prof Conroy took another 10M shares in Oct so price sensitive news could not be released for a while.

#####

"Late Dec or Early Jan time (UK Analyst note -same people as GE&CR):-
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."

########

Another date from t1ps (who are shareholders, GE&CR + UK Analyst), however this time they use the word WILL, so very naughty on their behalf if it isn't a firm target date off company.

So it is late already, assuming Jan from UK-Analyst, but could easily be delayed again IMO or taking longer due to an expanded scope (e.g. factoring in Clay Lake more heavily on back of results). I'm not relying on the study this month, but hopefully it will come. In the meantime I would like to see it back over 10p valuing its current hard assets at a more reasonable price. The 16p broker target was on current assets, pre-scoping study.

These kind of studies more often than not take longer than expected.

[shafaq] 15/1/2011 17:54

geogwe,
when can we expect the scoping study results?
thanks in advance.

[geowge] 15/1/2011 17:48

richgit

(i'm certainly no expert)

However thanks for the Cyanide comment, useful to have a grasp on the risks to the scoping study, because as the share stands it can appear too good to be true (in an investment time frame).

Prompted me to have a quick look into it and found the following article, which makes me feel much more comfortable about it. This seems to identify there have been concerns (by a party possibly very small), but the EU maintain cyanide can be used sensibly under tight regulation. Ireland is mentioned indirectly as an existing user also. If there are small scale users already using it in Ireland that has to be derisking.

Good to be aware of risks though. I'm sure they would have consulted with environmental experts and the government before starting a year long study, which if poor would 'devalue' somewhat their existing assets.
Professor Conroy has a lot of experience of setting up mines so one would hope these sort of things would have large confidence measures behind them.

30 Jul 2010
Sustainability Pollution & Waste management

The European Commission has rejected a proposed Europe-wide ban on cyanide use in mining activity after deciding that the ban was not justified from an environmental or health perspective.

In a statement on behalf of the commission to the European Parliament, Janez Potočnik, European Commissioner for the Environment, said: "The commission considers that a general ban of cyanide in mining is not justified from environmental and health point of views".

Mr Potočnik added that a general ban on cyanide use would result in the closure of existing mines operating in safe conditions, and would have a detrimental effect on employment.
Eight countries in the European Union currently have producing gold mines (Sweden, Finland, Turkey, Bulgaria, France, Greece, Ireland and Romania) employing more than 16,000 people.

The commission further added that "existing legislation, notably on the management of extractive waste (Directive 2006/21/EC), includes precise and strict requirements ensuring an appropriate safety level of the mining waste facilities".

The commission's decision has been welcomed by the European Association of Mining Industries, Metal Ores & Industrial Minerals (Euromines), which represents gold producers and exploration companies operating in Europe.

Euromines said: "European Union regulation applicable to the presence of cyanide and cyanide compounds in mining waste is one of the most stringent legal regimes worldwide to safeguard human health and the environment".

[richgit] 15/1/2011 16:35

Who is the BB Expert ?

The first time I got involved with CDG was 2003,then some time later I was having a conversation with one of the Directors of Avocet Mining whereby we discussed our own considered interests in other situations as well as obviously AVM.
He told me He doubted CDG would ever get permission for the use of Cyanide.

So much of course has changed since then and indeed if this current story is even partly true CDG could be one of the lowest valued Gold situations around,and I have admittedly ignored it,yet now re-considering.
.

[catswhiskas] 14/1/2011 09:09

Bad news for T10S without the cash to settle their trades share price marked up yet they will have to close out for 6.75p .Sp will start to climb as from next week when they are gone.

[yorgi] 13/1/2011 21:47

Well if that is the case then will be be continuing to wait for the scoping study report before we go anywhere then.........patience once again required

[rbonnier] 13/1/2011 21:37

1 million sell at 7.05p reported after the bell from yesterday when the spread was 7.0 / 7.25. The overhang will be back if the gang that orchestrated last weeks raid on KOLS shares intend to dump them for the usual 0.25/0.5p profit margin, same old story ill take me hat off to them though they had me fooled into thinking there was a big buyer at large .

[yorgi] 13/1/2011 21:28

Well I'm confused then.....I thought the boards I host, MIN, CEY, AR. and AVN were all free BB and I have moderated some from CEY and AVN where we had the usual spoilers turn up causing problems

[jj45] 13/1/2011 21:28

Overhang should be cleared within the next week, be prepared for either a share issue on positive results, or a complete take over.

Just read the header from a while back ;

///
The upside is that gold has the potential to reach $800 - $1000 / ounce over the next 2 - 3 years, what this effectively means is that CDG will be taken out by the big boys, local gold in low cost open cast mining
///

[wolterix] 13/1/2011 21:23

if you set it up as a free bb, then you can't moderate/ban anyone..

[yorgi] 13/1/2011 21:21

What difference does that make Wolterix ?

I host 3 or 4 free BB which I am able to moderate/ban "black" unpaid memebers should they be trouble makers but can't moderate "blue"

[wolterix] 13/1/2011 21:17

you have to set it up as a 'Premium Read Write' BB yorgi

[yorgi] 13/1/2011 20:45

Where does it say that I can't find it anywhere ?

EDIT Found it at last on TDW

[wispaman] 13/1/2011 19:37

Conroy Diamonds and Gold Plc has changed its name to Conroy Gold and Natural Resources Plc.

it is only a name change and does not effect epic : CDG

[mr_dross] 13/1/2011 19:34

you have to be blue to moderate

[bones30] 13/1/2011 19:10

I expect perhaps not.

[yorgi] 13/1/2011 19:10

The EPIC will change I expect and I guess a new board is required.

If one is a non paid up member, ie "black" not "blue", can one still moderate the board does anyone know ?

I know one can't moderate someone who is "blue" so if one picks up a pest in "blue"all one can do is ban individually

[bones30] 13/1/2011 17:44

"Conroy Gold and Natural Resources plc" eh?

Will this need a new thread? (not sure if EPIC changing?)