Conroy Gold & Natural Re... Share Discussion Threads

[chrysos] 17/3/2020 12:07

Jack: a managenent who deliver...

Over promising and under delivering - SIX YEARS OF SILENCE since 2014 and MULTIPLES of the market cap. raised and wasted.

RNS: Definitive Mining Plan is in the Course of Development at Clontibret
19 September 2014.

RNS: Project Manager Appointed (Mike Brennan) - him and Consulting Mining Engineer (Chris Atwood) still listed on the staff.
10 July 2014.

RNS: Plans for Antimony as Well as Gold To Be Mined at Clontibret
15 December 2014.

RNS: Confirmation of Preliminary Economic Assessment
15 January 2014.

RNS: Fundraising to raise £1,000,000
01 October 2013.

RNS: Viability of Clontibret Gold Mine Confirmed
23 October 2013.

RNS: Positive Mineralogical Report On Clontibret
04 June 2013.

RNS: Funding to raise up to £3.15 million
29 May 2012.

RNS: Clontibret Gold Project Scoping Update
16 December 2011.

RNS: Preliminary Environmental Studies at Clontibret Gold Project Completed
27 July 2011.

[jlondon] 17/3/2020 10:19

chrysos #9682, Tues 17 Mar 2020.

I report:
1) Further to yesterday*s discussion by myself [geological data + answers], Kevjones2 & glenalmond discussion, there are 0 share sales and 0 buys today [up to 9.45am].

2)Conclusion: All reading have decided to take 0 action [not buying & not selling] for now.
3) More than 24 hrs has passed, and the positive discussion means that the geological data is NOT in dispute NOR challenged with counter data which I may not be aware of since I cannot know everything.
===----===
What you said this morning : "Investors look for TWO things:

"A decent asset"
& "A management team that delivers"

Briefly, you said "probably a couple of Moz extractable at decent grades BUT NOT the 20moz bonanza to woo the top 5 its been promising for decades. It is woefully lacking in the latter, unlikely anyone will now back this team to the levels needed or either in a JV or as serious investors."

My Comment:
That is commercially known so the point is taken. The mean cost from the scoping study is US$1,372. So, if it is US$1,500 average minimum, it will be a saving grace in term of the extra leeway - common to all explorers. So, key here will be the capex to start the mine with its known risk factor/s, common to all capex.

Yes, Brandon Hill said 2moz in their long broker report some time ago from the main target with a potential attributable £20m mkt cap.

Mkt cap currently £2m after yesterday*s fall given the small free float volatility.

I am aware of the earlier court case and the biggest holder wanting to bring in 2 new directors ie PJ & Gervaise Heddle of Greatland Gold fame. There are 2 big Irish holders, one [per Linkedin] is the Chairman of Old Mutual and the other one of Ireland*s rich businessmen. The name Gervaise Heddle conjures an interesting item for obvious reasons.

As for the potential 20moz, that will require a strategic review and further geo comment of renown - I cannot say further as I am not a geo of renown. It will require further external work.

Again, as to whether the top 5 or mid-tier will undertake a JV, I cannot say 100% either way as I cannot provide warranty - we have to wait around the normal 3 months from the time of the news/RNS of 8 Feb 2020 [Independent on Sunday, Ireland article of 6 at the table.] It could be shorter or longer but I take norm? That is something everyone will have to decide for themselves.

Suffice to say, the discussion as above has been fruitful. My data has been peer reviewed by yourself and others. Everyone reading has benefited from the more professional outlook of the analysis.

One cannot comment on trading strategies as that is left to each to practice their own style.

As for brevity, I try to provide rationale thought. As Googin said, it could go up or go to 0 and that is something common to all junior explorers or any co as a safety rule -hence never invest more than one can afford to lose.

Whatever happens, everyone is happy that a fruitful discussion has taken place. We await developments or not? DYOR.

Tues, 17 Mar 2020 J.London Sorry for typos - in a hurry.

[chrysos] 17/3/2020 06:16

Jack, the trick to holding an audience is keep it short, on topic and don't rant.

Market jitters aside, investors look for TWO things:

1) A decent asset and

2) A management team who deliver.

CGNR probably has the first in moderation, i.e. probably a couple of Moz extractable at decent grades BUT NOT the 20Moz+ bonanza to woo the top 5 world gold producers it has been promising for decades.

It is woefully lacking on the latter, and after 23 years it is unlikely anyone will now ever back this team to the levels needed, either in a JV or as serious, substantial investors.

Hence it ticks along raising "working capital" to fund the next 6 months lifestyle rather than materially moving forward.

[glenalmond] 16/3/2020 23:21

This London guy's yet another beauty, Kev.

[kevjones2] 16/3/2020 21:39

All you've highlighted is that in a world where most gold companies took a hit CGNR took a far bigger hit. Over one third of the value was wiped out.

Truth be told, the share price should really be much lower regardless of Covid 19. The clue is in the fact that in 23 years CGNR haven't produced an ounce of gold.

[jlondon] 16/3/2020 13:07

I cite:
Shell, down 5.55% to £1,029. Low £9.93. High £2,647. [52 wks] #Oil

Barrick Gold, down 6.91%. Low $15.72. High $29.93 [52 wk]

BHP, mining major said to be World*s No 1, down 4.99% to £10. Low £939 and High £20.78.

FT100 -7,67%
FT250 -12.18%
FT All Share -8.72%

Solgold -19.17% to 10.12p. Low 10p & High 41.85p. [Gold & copper explorer]

Greatland Gold [GGP, Gold explorer JV30%] -22.6% at 2.6p. Low 1.46p & High 5.89p.

All from HL Live currently, Mon 16 Mar 2020.

Note:
Prior to drilling results of Greatland Gold, it was 1.08-1.11p [Hole 5 visuals]. That was the time to research the geology. Once, the drilling results came out, it was 5p+ in recent days.

No, research does help. No...as said.

All factual and happening at this moment.

CGNR, a junior gold explorer is not the exception.

Futures are down prior to US mkt opening at 2.30pm, UK time, Mon 16 Mar 2020. This is the early Mar 2020 global mkt falling due to the Coronavirus event. It is a historic market fall and is recorded as such.

[jlondon] 16/3/2020 12:48

GOLD PRICE
From my 11 Mar 2020 post #9673, I cited the scoping study ie US$ 1, 3 7 2. The gold price has been $1, 2000 + for quite a long time ie as far as I can remember.

So, US$1,372 is the base price for the scoping study.

When gold went to US$1,600+, then of course it becomes more profitable. That alone means an extra $228 in pure profit from the base case of US$1,372.

Ireland is a Tier 1 jurisdiction and therefore costs will be higher than a more risky jurisdiction. Majors etc are now looking at Tier 1 jurisdictions in the main if they can help it due to resource nationalism - this is widely known.

Further, majors are looking for EXTENSIVE potential strikes and faults and this is also widely known [Alistair Ford, Mining Analyst said so].

It is not easy to obtain extensive acreages of potential strikes and faults as there are not many still going.

One can get exploration licences with some effort from some reports in Ireland but it does not mean that they are given automatic mining permission. I cant quote the exact words but I recall that CGNR has development rights but kindly check.

Lastly, Dalradian from initial research showed that they started small ie resource definition and worked up. These days, hard to get drilling funds of US$300m + or a bit less. It is common knowledge that Solgold is looking for the next US$150m + and that is also taking time as is known. Solgold share price is also falling despite MRE of 23 moz.

Googin said that the current is new opportunities and risks. He equates it to gambling. For me, one has to do research and thereafter up to everyone to access risk vs reward. CGNR*s mkt cap is £3m and Solgold in recent times, prior to the share price fall was in the £300m area. Greatland Gold is £130m+ [JV with Newcrest having 30% of Havierion] with some 5moz touted in recent times. So, one is looking at all gold juniors and their reward vs risk profile, not just CGNR. With no data, how can one tell the potential reward?

Mon, 16 Mar 2020.

[jlondon] 16/3/2020 12:21

I posted 2 posts relating to CGNR prior to the mkts dropping and gold also dropping [paper]. This was in response to comment that on consulting another director of another resource co, it was relayed that it is merely soil anomalies. So, factual shows drilling done and it is not old material as CGNR posted it in recent days [fact sheet etc as mentioned]. Before one can see the 2 factsheets of 2020, one has to agree as is norm if one is viewing say, broker reports etc. So, it shows factually the drilling done vs soil anomalies. Another comment was that it was extrapolated. So, factually it shows the geological studies which is also factual and norm. Lastly, on one forum, one poster said he visited Ireland and no one there knows. So, from BGS and geological academic papers, it does show that it is known ie Clontribret and Co Monighan. Googin said it was a "gamble" and I thought it useful to bring out the facts - geology remain the same whether yesterday or today ie drilling, results etc. For me personally, I am not into gambling but rather research to know about the geology etc.

There is very little trading going on in CGNR shares & the buyer who bought close to 3% recently may not be a normal investor as he might have to know more about the geology etc as is norm.

In any co, it is always useful to know about the geology, results etc.

Solgold, at the start of drilling provided the geo modelling which turned out to be accurate in terms of the tonnage.

Solgold found the gold in the stream and followed it up to Alpala. In the case of the Clay Lake nugget, it is pretty large as a nugget and in the factsheet it is said it is found in their licence area ie Clay Lake. Hence, the new factsheets now mention Fosterville which was never mentioned before. Fosterville [Vitoria] - they went deeper after the surface gold was found. It is said it is a nuggetty type. CGNR said it is from "bedrock" and quartz so it is not specks in the soil type.

In any forum, it is useful for any investor who holds to discuss the geology etc. What is there has not disappear overnight. Dalradian spent some $300m and 30 yrs to find their gold in Ireland. Not easy to find that type of drilling $$ these last few yrs. There is a BEAR MKT in junior exploration stock in general. Twitter is informative on this.

Otherwise, what is there for investors to discuss. One cant Keep-In-View if one does not KNOW anything about the geology. That used to be the old way on most stock forums otherwise how does one know what is the potential size. In recent days, there has been an interview from PDAC and articles so the factual lends to what is or is not there.

GGP driled 9 holes at Havierion. CGNR on 1 target drilled 15 holes from recall. After 9 holes, GGP obtained the JV from Newcrest. So, 9 holes was deeemed sufficient. Solgold got an investment proposal from BHP around Hole 15-16*s.

There is discusssion - on balance, always good to hear 2 sides whether bull or bear thesis. If it is chatter about X or Y, then stock forums are becoming bereft of any research into geology etc.

Mon, 16 Mar 2020.

[chrysos] 13/3/2020 21:22

Copying and pasting 10 year old promotional highlights from the company website doesn't really contribute much to investor dialog or discussion Jack. Or is it just a fly paper for the unwary or poorly informed in troubled times?

[jlondon] 11/3/2020 21:18

Conroy Gold
CONTRIBRET
hxxps://www.conroygoldandnaturalresources.com

"The co has a 40 mile new d i s t r i c t scale gold trend along the ORLOCK BRIDGE FAULT zone in Ireland. 4 primary targets - Contribret-Clay Lake-Glenish - Silieve Glah with GOLD PROVEN IN B E D R O C K have been d is c o v ered along the trend."

"The Orlock Bridge Fault has similarities with the BOULDER-LEFROY SHEAR ZONE in Western Australia. Has similarities with FOSTERVILLE gold deposit in Australia.."

From the map show, it shows Conroy*s Orlock fault opposite to Dalradian*s deposit.

hxxps://www.conroygoldandnaturalresources.com/projects/clontribet

"Total contained resource of OVER 600,000 ounces of gold [Tetra Tech scoping studies] with a base case of US$ 1, 3 7 2 gold price."

"FUTURE POTENTIAL AT CONTRIBRET: The ore system is OPEN with potential for expansion . Gold has been intersected in OTHER AREAS of the 80% of the Contribret area eg 11m @5.34g/t and 21m @1.82g/t. Map shows the areas and their grades."

"The co is planning its first operational mine on 20% of the Contribret area."
===
My comment:
Gold currently is at the US$1,664 area. From the Brandon Hill broker report, it was said that the Lefoy shear is 100km with some 80Moz gold found.

There is a NEW ANALYST 2020 FACT SHEET - Link hxxps://www.conroygoldandnaturalresources.com [Left side of page >click]

Also, a NEW FACT SHEET FLYER [ Left side of page>click] Link above.
"CLAY LAKE NUGGET 28 g gold associated with quartz found at Clay Lake WITHIN THE CO*S LICENCE AREA. Lots of diagrams showing drilling cores, gold intersections and grades etc. Clontribet cross section potential to expand resource to DEPTH."

I will end here and cover more on what was discussed on this forum later.
DYOR.

[jlondon] 11/3/2020 20:11

From research:
Pg 79 :"Gold exploration in the North of Ireland : New Targets from the Tellus projects."-Gareth Earls,Tellus surveys,Royal Irish Academy.
hxxps://www.ria.ie/sites/default/files/chapter_6_0.pdf

"The Tellus & Tellus Border geochemical surveys define the prospective areas of the Lower Palaeozoic LONGFORD-DOWN terrane and more specific the ARMAGH-MONAGHAN GOLD B E L T . The gold in BEDROCK occurence along the ORLOCK BRIDGE FAULT at C L O N T R I B R E T and to the North East in Country Armagh at Caralisgorran and C L A Y L A K E CONFIRM the soil anomaly and stream geochemistry.."

Pg 84: "Fig 6.9 Detailed in gold soil sampled along a 21 KM TREND by the licence holder in counties Monaghan and Armagh. Image courtesy of Conroy Gold."

Pg 85: "The release of the TELLUS Border data has stimulated an uptake in prospecting licences in Donegal. Conclusions: The North of Ireland in general and Northern Ireland is covered by WORLD-CLASS geochemical and geophysical data sets which facilitate gold exploration."

"When the TELLUS Border soil samples are ANALYSED for GOLD, the data coverage will be almost UNRIVALLED."

This short pdf of some 17 pages [extract] is supported by the reference eg GEOLOGICAL SURVEYS of Northern Ireland by Coulter. It also gives a reference to the chapters eg Tellus AIRBORNE geophysical surveys and results, Geochem surveys, Geosciences survey, Soil Geochem etc.
====
There is also another work:
earthwise.bgs.a.uk Mineral resource Northern Ireland:

"Gold in quartz veins has long been known at CLONTRIBET, Co MONAGHAN in the Republic of Ireland - part of the vein swarm lead veins to the South Armagh-Monaghan MINING DISTRICT. N.E trend ORLOCK BRIDGE FAULT - MAJOR SHEAR EXTENDING THRU THE TERRANE."
===
My comment:
One would find it useful to check what BGS and others in the academic and govt agencies had to say about the Orlock Bridge Fault wherein the Conroy targets are located. Gareth Earls work also talks about the Sperrin belt which is where Dalradian is located. This is helpful to counter read against the Conroy data set.

[goggin] 11/3/2020 17:51

It's definitely a strange volume, normally if this was all buying, the share price would be up substantial more, the reverse is true as well. Mabey a transfer of stock between connected parties, who knows. Volume is high enough to be note worthy. We will possibly have an answer within the next 4 to 6 weeks out, however, this is pure guess work. Provided the gold price holds, this is a much safer bet now than 10 or 20 years ago. Did someone say 'Patience is a Virtue'

[jlondon] 11/3/2020 15:15

Per Goggin*s post of today, Wed,11 Mar 2020:
There has been 11 trades of 50k bought plus one 100k= 650,000 shares bought at over 12p. [TOTAL £80,975] From the London South East CGNR, there is only 1 sale of 2,926 shares @12p [£351]. After the 100k trade, there was another 25,000 trade buy at 12.85p = £3,213.

On HL, it is currently 12p to sell and 13p to buy [advertised] +8.7%.

The mkt cap of CGNR is £3m. So, whoever bought the £80,975 worth of CGNR shares today is short of nearly 3% [3% of £3m = £90,000]

Yesterday, I checked live price and the market maker had no quote for even 1,000 shares to sell. All that was quoted was for 100 shares to sell. Not surprising given the ...which caused many small holders to sell out.

So, thanks to Goggin*s post, it appears that today, volume is rather heavy from this one volume buyer. Havent checked yet as to whether the mm*s have any more to sell.
===

[goggin] 11/3/2020 09:34

11trades of 50k bought Plus one of 100k, that's 550k possibly by the same person, that's £80000 pounds worth, no small piddler then. Wake up and smell the coffee instead of downing in the past misery of what was. This is a new era with new challenges and new opportunities - this could be simply Hugh but if in doubt, stop moaning and sell out and stay out. That choice is yours and yours alone, life is all about gambles and cgnr is certainly a gamble. Be prepared to Loose all or make a 10 bagger!

[chrysos] 09/3/2020 13:14

In fact even if the Majors noted the outrageous 20 million ounces claim in 2009 but were put off by the 2011-2013 spike to $1,750/oz, why didn't they take advantage of the 2013-19 $1,200/oz lull?

[chrysos] 09/3/2020 13:06

Conroy started this epic saga pre-2000 when the gold price was under $300. Until 2008 it trundled along in sub $500 territory, then from 2008 went through a spike, reaching $1,750, before settling around $1,200 from 2013 to 2019, again recently spiking again to the current ~$1,700.

In the same time, Conroy announced "reserves" (1Moz in Sept. 2004 by SRK and again in Jan. 2007 by CSA and further in July 2008, since reduced to mere 320,000Oz  in July 2017 by Tetratech ), and numerous potentially interested JV partners over the years,  all of which have come to naught.

With PDAC and 2020 done and dusted in the week gone by, and no news of any new (or even last years) JV talks, let us consider...

Of the top ten world gold companies producing between 1.6 and 5.1 Moz a year, not one appears to have expressed any concrete interest in nearly 20 years, despite the fact that Conroy has been claiming they are interested as early as 2004 (Conroy's Progress Towards Identifying New Gold Province In Ireland "Noted In The Industry", Says Chairman, 23 November 2004) and Conroy has claimed a 1Moz "resource" (RNS of 23.1.2005) and 20Moz+ "potential" (RNS of 24.2.2009) since gold was $450 and $900 respectively.

All of these companies are staffed by extremely smart people, and all know they are in this business for the long term, and have a better idea on where gold is heading than most, so it begs the question:

Why on earth, if they have known all about Conroy and its "massive potential" since at least 2005, would they wait 15 years until now, and for gold to go up six fold, before buying in? Any rational strategy is to buy in cheaply and early when the price is low, especially as nothing has really changed on the Conroy side in the entire period.

A little honesty would be welcome here!

[andrea152] 09/3/2020 10:24

Conroy is just Spinning it out for as long as he can - he is totally shameless - will prob get the Co to pay for his funeral as well !! He and Teeling represent everything that is wrong with the Irish Junior Mining scene at present - but the Irish Govt & Regulators (wot Regulators ?!) will do NOTHING to alter the Status Quo IMHO, and both of the above parties will continue to claim that they are whiter than white !

DYOR. GLA.

[richgit] 08/3/2020 20:48

Regrettably the World Economy may not recover for 10 years or more,with what is coming now the Bio-weapon released- starts its devastation.



Betting against Gold will be financial suicide.

[kevjones2] 04/3/2020 10:22

No point discussing the decimation of the share price as in this new world telling lies is the new truth. Time to dig up some old posts.

CGNR is going absolutely nowhere. Even if yet another attempt at ousting Conroy is successful too much damage has been done. In 25 years of promises not a single ounce of gold has been taken out of the ground.

[jlondon] 03/3/2020 13:02

"Ireland open for business."- Independent,I.E, 12.2.20
hxxps://www.independent.ie/business/irish/ireland-open-for-business-despite-shock-election38951563.html
["Ireland Open For Business Despite Shock Election."

Quote:
"ALL of the major parties are committed to foreign investment", Martin Shanahan, CEO of IDA Ireland told the European Financial Forum.

====
"William & Kate begin 3-day Ireland visit."- BBC, 6 hrs ago, Tues, 3.3.20
==
Looks like Ireland needs $ etc like all economies?

[glenalmond] 03/3/2020 08:51

pelgis
2 Mar '20 - 21:02 - 4016 of 4019
0 0 0
The big one tomorrow is going to be the morning session at 8am.
Room 205D
"Ireland: Open for business"(as long as you pay for your explosives escort!)
Geological Survey Ireland and Enterprise Ireland
The Ireland: Open for business forum will include updates
from mining and mineral exploration companies operating on
the island of Ireland (both gold and base metal projects), and
panel discussions relating to Ireland’s expertise in the global
mining and geoscience value chains.
The morning forum will be supported by Geological Survey
Ireland which will provide updates on its programs and
initiatives. The island’s national export agencies, Enterprise
Ireland and Invest Northern Ireland, will showcase Ireland’s
business environment.

I expect Lord Conroy, Phleps and Anderson will be lurking around at the back too...
At least I hope they are!!!!!
pelgis
2 Mar '20 - 21:04 - 4017 of 4019
0 0 0
it may also be live streamed........