Conroy Gold & Natural Re... Share Discussion Threads

[4marlin] 04/8/2017 21:23

The battle will go on, I suspect.
The will of the majority has been denied for the moment by a technicality which I think will be disputed.
Do note that much damage has been done to the company´s last remaining reputation, probably in the eyes of the company´s nomad and brokers too.
Do not be surprised to see another EGM called.

[stevehoops] 04/8/2017 18:58

Fair play.
But has much change ? i suspect they will stay on as staff so will the payroll change? ?
In the interest of fairness let's hope both companies start getting regular updates news etc and all share price go north.
I hope the BOD Will learn from this.
All said and done we have all put our faith and investment in these companies.

[kevjones2] 04/8/2017 18:14

Wow. What a victory for Mr O'Sullivan. Looks like only for the disputed clause the challengers would have achieved everything they set out to do. They may still do so.

Well done to all voters who got rid of those pointless 6 directors. I still would love to know what they actually did.

The rebellion alone might have given conroy the kick in the backside he needed but the Rebels' success gives us even more hope. No guarantees of success but let's see what happens.

[thecynical1] 04/8/2017 18:13

Good work Mr O'Sullivan...... A lot of people who haven't in my opinion brought much to the party have now been removed....... Going to be interesting to see how this pans out....

[shambaby] 04/8/2017 17:41

Six out of nine directors of Conroy Gold and Natural Resources have been removed from their position following an emergency general meeting of the company.

The meeting took place in Dublin on Friday at the behest of minority shareholder Patrick O’Sullivan who, in addition to removing the six directors, hoped to install 3 new directors to a board reduced in size.

C David Wathen, Michael Power, Louis Maguire, Sorca Conroy, Seamus Fitzpatrick and James Jones have been removed from office following the vote.

The company founder, Professor Richard Conroy, will remain on the board alongside Maureen Jones and Professor Garth Earls.

While the six ordinary resolutions to remove directors were ultimately passed by shareholders, the resolutions to appoint new directors were unsuccessful.

A source close to the matter said the final three resolutions were not passed due to a clause under the company’s articles of association requiring prior notification. It is understood that Mr O’Sullivan, who is the single largest shareholder in the company, challenges that requirement.

The meeting of shareholders of Conroy Gold and Natural Resources follows a High Court action earlier this week where Mr O’Sullivan told the court he had concerns about corporate governance and remuneration of board members.

Mr O’Sullivan acquired a 28 per cent shareholding in the company in 2009. The firm was established in 1995 by Professor Richard Conroy to find gold deposits in Northern Ireland and northern Finland,

Speaking to The Irish Times after the meeting, Mr O’Sullivan said he had “huge respect and time for Prof Conway” on a personal capacity. But, he noted that the current board isn’t in a position to advance the best interests of the company.

He is hoping that the company will involve people with expertise in the gold exploration industry in order to raise the finances necessary to explore one of its prospects.

[goldeneye5] 04/8/2017 15:50

Will be passed....one word Teeling????

[activeinvestor] 04/8/2017 13:25

9 three minute rounds will begin on the bell at 2pm, then most resolutions will be duly passed.
An RNS will be released later.

[catswhiskas] 04/8/2017 13:21

Will the RNS be bang on 2 pm

[kaos3] 04/8/2017 12:21

it has to fall in any case. funding needed.

[4marlin] 04/8/2017 11:12

....and that just about sums it up, imo.

[catswhiskas] 04/8/2017 10:07

The price will fall 50% today if Conroy wins !

[resourceful] 04/8/2017 09:54

the price will fall up to 50% over time

[paleje] 04/8/2017 08:39

Surely the evidence of what the old board have done (or not) is enough to condemn them. I agree the new guys haven't said much but 2 of them have a lot of experience deal making in sector and the third good business acumen.

My concern would be if the 2 pull out having achieved what they set out to do. We'll see.

[kevjones2] 04/8/2017 08:26

Who said there was any evidence as to what the new bod proposes? What new bod?

[shambaby] 03/8/2017 17:56

Where's this evidence Kev to what the new board propose

[kevjones2] 03/8/2017 16:41

I think there's a bit of Stockholm Syndrome going on. Certain people are incapable of changing their minds despite overwhelming evidence that that would be the best thing to do. Also, as can be seen from some of the lying around here, a complete inability to admit making a mistake. Oh well.

[kevjones2] 03/8/2017 13:51

I see the Phoenix magazine has an in-depth look at the CGNR revolution. I think the article is titled "The Battle for Conroy Gold". It's behind a paywall, unfortunately.

[kevjones2] 03/8/2017 11:23

Sorry for posting this but it's funny. And don't worry, it won't be a saga of posts because Thecynical has me filtered (unless he's lying again). Here he is patronising other posters on this bod when MTR invested. He was so utterly clueless he didn't know MTR is Metal Tiger - he thought, in his usual completely unresearched way that another company - Tiger Finance - had invested:

""where was the Tiger share price in 2010?? How long was it flatlining? facts, man...those are what count, not your take on things...really, seriously off the wall..."

LOL. Here's part of the reply I gave him:

"Obnoxious? Patronising? Arrogant? Pompous? All of them, methinks.

Well thecynical1, here's a fact for you: Metal Tiger was founded in 2014 so the answer to your question asking where its share price was in 2010 is this: in order to have a share price a company must first actually exist."

Good unintended entertainment from thecynical.

[kevjones2] 03/8/2017 11:00

thecynical,you're an unresearched liar. Everyone knows it. You didn't filter me either - thats just another lie. I noted yet another unresearched post you made on the AEX bb yesterday. Enbarrassing. I know you go from bb to bb making snide and always negative comments about companies you have no clue about so carry on. Btw, I doubt if even those I disagree with most would put you anyway near my intellectual capability - and I'm only bright. LOL.

[4marlin] 02/8/2017 22:09

It is my understanding that there are serious players who would deal with CGNR if management was different.
Here´s hoping that the rebels prevail and the company starts to realise its potential!!

[thecynical1] 02/8/2017 21:52

Kev - I took you off filter a few days ago. Having just read your mindless post, I will now put you back on filter. Life is too short to listen to people like yourself who apparently have the intellectual capacity of a boiled egg.

[kevjones2] 02/8/2017 19:25

TheCynical, leaving aside the utter fool you made of yourself when you raged over Tiger Finance investing in CGNR when it was actually Metal Tiger, do you know anything about business? I mean anything at all?

Every single share on earth has a price someone is willing to pay. Your stupid assertion that nobody will buy the share means the share price is set to stay at today's exact price forever. No buyers, no sellers. In the next breadth you say if a big seller tries to sell the mms will have a field day. How? By selling at very low prices. Who will they sell those shares to? BUYERS!

[resourceful] 02/8/2017 16:57

the proxies are in now
the board knows the result

[thecynical1] 02/8/2017 13:13

Who do you think is going to buy the shares? If any large holders even try to sell, the MMs will have a field day. Jmo.