Conroy Gold & Natural Re... Share Discussion Threads

[glenalmond] 22/10/2018 17:48

By Nigel Somerville, the Deputy Sheriff of AIM | Monday 22 October 2018

"AIM-listed Conroy Gold and Natural Resources (CGNR) has announced a new gold outcrop discovery in Ireland, between its Clontibret gold deposit and the Corcaskea gold target. So will this discovery transform the company’s prospects, or – bearing in mind that it has to report year-end results to May of this year by the end of next month – does this news mark the beginning of a pre-placing ramp?

We know that Conroy raised £500,000 before expenses (so call that around £475,000 net) in August, but as I pointed out at the time, it was nowhere near enough to pay its bills over the (then) coming year. After all, net current assets as per interims to last November showed net current assets of MINUS €3.1 million. Although it raised a million subsequently, and the half a million in August, it was still a long way short of reaching even zero net current assets. And now we are 11 months on from that – and in the meantime there are the company’s bills since last November to pay.

With historical cashburn of around Eur 130,000 per month, I reckon that’s another c. Eur1.4 million out of the door. Do the maths: Conroy must be a good Eur 2.5 million in the red on its net current assets by now. It needs a placing. And with full year results to May to produce by the end of next month, it will want to get its auditor to sign off the company as a going concern – so it needs not just Eur 2.5 million to square the books, but another perhaps Eur 1.6 million to find – a total of around Eur 4 million.

Yet Conroy is capitalised at just £3.2 million! Do you see the problem yet?

As for whether the gold find is significant, Conroy has been a couple of years away from producing the yellow stuff since the black and white era. Will it be any different this time? I doubt it.

Thus this latest gold find is to be ignored: there’s (yet another) placing on the way.

Avoid/bargepole"

An interesting take from Nigel. Let's see how this transpires over time ...

[glenalmond] 22/10/2018 08:16

The gold outcrop discovered during prospecting has a grade of 5.6 g/t gold. The outcrop lies to the north of the Clontibret gold deposit on which the Company has defined a JORC resource of 517,000 ounces gold (announced 28 July 2017) and to the south of the Corcaskea gold target which has yielded significant gold intersections in trenches, including 16.5 metres at 6.5 g/t gold and 12 metres at 4.9 g/t gold.

[kevjones2] 22/10/2018 07:20

Uh-oh...the prof is excited again.

[thecynical1] 18/10/2018 15:03

ah....apparently still nothing happening here.....apart from the obvious share price downward spiral that is......but Conroy and co are delighted.....which in itself is not that remarkable considerung what they pay themselves for doing...well......I won´t go there!!!! : )

what happened to all the ramper clowns??? looks like the realists have taken over here........ ; )

[kevjones2] 14/10/2018 21:05

Hey glenalmond, mister red thumb has given us the seal of honesty.

[kevjones2] 11/10/2018 09:36

Shambaby, Conroy's wage intake over 23 years far outweighs his cash input. By multiples of his input.

[glenalmond] 11/10/2018 08:38

Lol, Frank Spencer!



Check the two vids on Pugs page, lol one either side of the moon pic. Great stuff!

[glenalmond] 11/10/2018 08:25

What?! Not even a fund raise with this delightful news?

[glenalmond] 11/10/2018 07:13

"“The further significant intercepts and grades bring to a successful conclusion the 10 drill hole, 1,700 metre programme at Clontibret, as the Company moves forward to demonstrate the potential size of the Clontibret – Clay Lake – Glenish gold target in the northeast of the Company’s 700km2 licence area”"

Great! So what's next?

[glenalmond] 05/10/2018 13:16

Thanks Shambaby. Good luck to us all here - we're gonna need it!

[shambaby] 05/10/2018 09:25

I have no idea Glen regarding that trade. Kev I’m sorry you have lost so much money. I’m in a similar situation with KDR. Both projects drilling so hopefully even though investment entry not timed well a return on investment maybe round the corner with a JV. I get the frustrations, but the board have invested there own cash and the Professors investments considerably outway any wages. Unless there’s other games at play I don’t know about.

[glenalmond] 05/10/2018 08:44

No ideas about that trade then, Shambaby? Anyone else have any thoughts?

[kevjones2] 05/10/2018 01:59

Shambaby, I invested at 2.13p. The share price peaked years before that at £11.11p (around 500 times my entry point). Your reliable buddy, goldeneye5 (yogi on Mental Central) and one or two others who have vanished with similar losses to yogi of well over 99%, continues to ramp this absolute dog. I can't be 100% certain but it's highly likely that there can be no worse performing company ever in the history of the markets worldwide (except those that actually folded) than CGNR.

Today the share price is around 13p but that's after a 200 to 1 share scamsolidation...sorry, consolidation. 13 divided by 200 = 0.65p. So, the share price has had a wee drop from 1,111p to 0.65p. I think that's a fairly poor performance. Maybe someone better at maths than I can tell you the exact percentage collapse. You could say "well, surely now is a great time to get in." Like thousands before me I thought that when the share price dropped around 500 times its peak to 2.13p (pre-scamsolidation).

So no. I couldn't afford the Happy Meal. We settled on one McDonalds straw each with no food. Truth be told, I stole my one cos we hadn't enough money for two.

It might be time to bring out an updated version of my "the prof is delighted with..." whatever test results RNSs. The last time I did that it took three posts to cover all the delight. I expect my next one will take around 5 posts.

[shambaby] 04/10/2018 16:09

Big Mac tonight then Kev ? I would recommend to you the happy meal 😃

[glenalmond] 04/10/2018 11:08

I see that 125k reappeared this morning before the bell (yet after I wrote the above).

04-Oct-18
07:52:12
13.50
125,000

13.00
14.00
16.88k
O
"Delayed publication" - again.

Meanwhile, good to see some decent buys the share price up this morning.

Higher, Brucie. Higher!

[glenalmond] 04/10/2018 08:43

"Delayed publication" to be precise.

[glenalmond] 04/10/2018 08:42

Indeed, SB.

03-Oct-18
16:17:08
14.00
125,000
Buy*
12.00
13.00
17.50k

Any idea from when it was delayed - and why it was so?

[shambaby] 04/10/2018 04:58

Interesting trade at 14p 125k

[kevjones2] 03/10/2018 14:06

Did anyone really think this would continue rising? Anyway, I've decided to sell on the next pumpndump. I should be able to bring her indoors out for a McDonalds.

[glenalmond] 03/10/2018 13:29

Btw, thumbs up for TC1 :)

[glenalmond] 03/10/2018 13:28

Oh Dear :(

[thecynical1] 03/10/2018 08:51

Red rook...... I like your style!

"hard earned cash"..... The irony is fantastic...... "hard earned" making HD statements like.... "I am delighted".... LOL!!!!! What a POS! Jmo of course!! : )

[actybod] 02/10/2018 20:40

I got taken in by some BBC interview many years ago. Still holding for a laugh.