Conroy Gold & Natural Re... Share Discussion Threads

[trader465] 05/6/2023 23:17

Can someone explain how the clever old man is going to pay net current liabilities of €3,583,837 with cash and equivalents of €961,406?

€2,113,516 of those liabilities are due before 30th November 2023, or it’s curtains for CGNR

How’s the clever ole man going to get around this little problem?

There’s a placing coming before 30th November

[trader465] 05/6/2023 20:24

Goggin - I’m not in so I can’t win the lottery. That’s because I know the odds of winning the jackpot are 1 in 4 million.

“The JV remains conditional on the necessary regulatory consents being granted in the Republic of Ireland and Northern Ireland”

This process involves seasonal wildlife studies and takes years

“300koz is for 20% of just one story”

Just 0.3moz, and it’s taken 20 years to hit just 20% of just one target. This will drag on for another 20 years, the old fella has made a fortune out of share holders, and so will the next man, this company comes with a free library full of stories to sell to shareholders.

Placing soon?

[goggin] 05/6/2023 18:27

Clontibret is not Galway, just not in the same league, Clontibret had a working mine in the 1800's, because there's history there's hope but if your not in, you can't win. No point being part of the Would have, Could have, Should have brigade.

[robemy] 05/6/2023 18:20

Comparing Dalradian and the district scale trend is like comparing apples and oranges. A lot of Dalradian deposit is very deep, Conroy has only been to 300m so far that we know of and that 300koz is for 20% of just one target

[trader465] 05/6/2023 17:38

Darlradian has 4.4moz, CGNR has just 320koz

The planning application process alone for a mine takes years and involves seasonal wildlife and environmental studies, it’s not something that can be done in a few months.

ROI are just as strict as NI and UK with planning applications

“Prospective mining license for Connemara refused”

The refusal was welcomed by Green Party Councillor for Galway City Pauline O’Reilly who had urging the Department to re-evaluate the application together with concerned locals.

A petition objecting to the granting of any licence “on the grounds of threats to the health and wellbeing of the natural environment” gained over 10,000 signatures. In addition, thousands of indivuals sent letters to DCCAE.

Ms O’Reilly said that the licence would have compromised “water quality, wildlife and the local economy” in the area. “This is one of the country’s most outstanding areas of beauty,” she said.

[goggin] 05/6/2023 16:31

That's exactly my point trader465, Dalradian are valued at x with nothing to show for it and of course you know they are in a British controlled jurisdiction and that was when?A judge has rejected a challenge to proposals to build a controversial gold mine in the Sperrin Mountains February 2019And you know that N. Ireland is a basket case with no government The ROI is a completely different proposition with cgnr valued a fraction of Dal. I'd bet on cgnr getting gold out of the ground long before Dal even turns a sod, then Dal might just swoop as they appear to have very deep pockets?

[diamond_mountain] 05/6/2023 16:23

They started off with 1 million ounces, then it dropped to 600,000, now it's 517,000. It's hard to keep track though when all of these numbers are quoted as current on the company's website.

[trader465] 05/6/2023 16:23

A (JORC 2012) estimated resource of 320,000 Oz Au Indicated


It’s tiny, if it was worth anything the pikeys would have dug it up and sold it generations ago

[robemy] 05/6/2023 15:39

Ah exactly DM, after all, it's you that keeps saying we only have low grade refractory gold - you can't pan for that

[trader465] 05/6/2023 15:27

Why did they previously claim to have 600koz?



Dalradian Gold a much larger company just up the road from CGNR had their planning application rejected.

“Challenge to County Tyrone gold mine plan rejected”


“Controversial plans for gold mine in Northern Ireland go before High Court | ITV News”

[thecynical1] 05/6/2023 14:54

ah...now the old JORC is being wheeled out...... ; )

Resources? Reserves? Anybody like to be a bit more precise when bandying the term JORC around?

[diamond_mountain] 05/6/2023 14:45

Robemy of course the figures are based on the JORC as that's all that has been substantiated after years of exploration. Everything else is pie in the sky until proven otherwise.
Since you live in the area - it must be crawling with gold panners with all this high grade free gold being reported. Bet they are becoming a darned nuisance.

[kaos3] 05/6/2023 14:09

here I go

BS

and I adore CGNR
a case study of all kinds.

a new one is the word optional in todays RNS. innovation and respect. is it or is it not.

[robemy] 05/6/2023 13:52

Still the same old bitter guys complaining about everything because they have a personal problem with the board. All these figures being banded about are based on a JORC which only covers 20% of just one prospect. This remains extremely cheap for what is an entire gold trend.

[trader465] 05/6/2023 13:48

Value in-ground value is zero if you can’t get it out and sell it.

Compare the value per ounce of CGNR resource to other gold miners.

GRL is in production and has 14.8moz in the ground. Using your figure of $40 in-ground value would give them a market cap of $592m or £478m, the actual market cap is £15m.

GRL 14.8moz market value of company is $18.5m or $1.25c per ounce
CGNR 300koz market value of company is $9.2m or $30.66 per ounce

Buying CNGR means you are paying $30.66 per ounce for an exploration company, buying GRL you are paying $1.25 per ounce for a producer. Which looks better value?

I don’t hold either

[holycow1] 05/6/2023 13:32

Oh you referring to something back in 2012?
Bit outdated im thinking...and im sure Demir are aware it is...or else why be here?

[chrysos] 05/6/2023 13:16

Except of course it is not 3Moz, it's 320,000oz indicated, × £40 = £12M or a 50% premium on the current market cap.

[holycow1] 05/6/2023 12:52

3,000,000 ozs @£40oz in ground price...
Very conservative figures...£120m.
Surely Demir must be considering such a deal.
Potential 15m ozs +
Conroy take 42.5%...makes sense to buy out now...the Prof has on a couple of occasions suggested he is open to an offer, and of course hes not getting any younger.
Would consider it a strong possibity and may be the reasons for on going appraisal.

[lefrene] 05/6/2023 12:34

I wonder if the Guinness Book of Records will get in touch, this might qualify as the longest running 'buy me, it's just around the corner' story in history! Fair play to the old boy, he's masterfully milked the story for how long? 20 years? More?

[inthemix] 05/6/2023 12:18

Trader, ask yourself the value of what is in the ground here. In my mind, enough to warrant a huge takeover, but each to there own, you can wander off now. Cheers.

[thecynical1] 05/6/2023 12:11

more than 9 months....that is for certain..... ; ) and what of it....it has only taken them a generation to get to this stage....what´s another year or five....as long as those fees keep coming in, would you care??

[goggin] 05/6/2023 10:52

You tell me

[trader465] 05/6/2023 10:15

Goggin - “will start proper mining within the next 9 month”

Can you tell me how long it will take to acquire all the necessary environmental and mining permits and licenses? How long do you think it will take to construct a mine? Thanks.

[goggin] 05/6/2023 09:57

Professor is nearing that time he has to take action. There are only so many tv chat show he can keep talking on. He may not need the money which I'm sure he doesn't, not at 90 + years but its the legacy he will leave behind and he has past form. He's in remarkable good form for a man in his 90's and plus he enjoys deal making so time will tell

[robemy] 05/6/2023 09:42

I live on the Orlock fault. The geology of the rocky outcrops has always interested me. I knew it was only a matter of time until they found gold mineralisation in quartz veins