Share Name Share Symbol Market Type Share ISIN Share Description
Conroy Gold & Natural Resources Plc LSE:CGNR London Ordinary Share IE00BZ4BTZ13 ORD EUR0.001 (CDI)
  Price Change % Change Share Price Shares Traded Last Trade
  -1.00 -3.92% 24.50 106,727 09:58:34
Bid Price Offer Price High Price Low Price Open Price
24.00 25.00 25.50 24.50 25.50
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Mining 0.18 0.56 43.7 10
Last Trade Time Trade Type Trade Size Trade Price Currency
11:13:02 O 4,002 24.44 GBX

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Conroy Gold & Natural Re... Daily Update: Conroy Gold & Natural Resources Plc is listed in the Mining sector of the London Stock Exchange with ticker CGNR. The last closing price for Conroy Gold & Natural Re... was 25.50p.
Conroy Gold & Natural Resources Plc has a 4 week average price of 24p and a 12 week average price of 24p.
The 1 year high share price is 46.50p while the 1 year low share price is currently 19.63p.
There are currently 39,262,880 shares in issue and the average daily traded volume is 90,317 shares. The market capitalisation of Conroy Gold & Natural Resources Plc is £9,619,405.60.
diamond_mountain: CGNR's 8.8Moz "exploration target" is pure fantasy, deposits haven't even been discovered yet never mind the cost of drilling them up. Even 1Moz at Clontibret is unlikely in the near term as that is double the current resource. If drill results don't go to plan it's Demir who will be looking for an exit strategy. Getting an open pit, cyanide based operation up and running in Republic of Ireland countryside is a very long shot and the market knows it. Demir won't be buying CGNR equity, why would they?
chrysos: Dalradian drilled 170,000m for ~6Moz @ ~15g/t. At the 2.5g/t current grade, that requires 6× the metres per ounce. For 8Moz promised, it is 8× the drilling or 1,360,000m (over €150M at today's prices) of which this first 3,000m is just ¼ of one percent of the necessary. With ten rigs flat-out at 20m/day that is twenty years drilling. Long road ahead. This will have to start off quite small, around Clontibret on ~1Moz, at least for the first ten years which I gather was always the plan? I imagine this project will change hands a few times more as it progresses. Remember that Demir, as a PE company, have no duty to report anything, and zero interest in CNGR maintaining equity. I imagine they will try and hoover up any CGNR shares at arms length as cheaply as possible, as well as extra project equity through secured loans, increased commitments, dilution etc. Demir are NOT the CGNR shareholders' friends in this, why would they be? So ride the rollercoaster, with an exit strategy, but that's not a world-class gold mine in the next 10 years!
richgit: Whatever some think/imply,nobody can simply deny that Demir`s interest here and investment is not worth a lot more than the Market currently values. Just, ask yourselves what reasons Demir has to believe that their Investment will pay them back in multiples. Unless of course some Posters think they are more intelligent Investors than Demir ............ Conroy Gold’s Path to Producer Status – A Valuation Reappraisal. Following the completion of Conroy Gold and Natural Resources plc (CGNR.L) JV agreement with Demir Export, and start later this month of a 3,000-metre drill programme under the new partnership, in this research note we examine the importance of this transformational deal and revise our valuation estimates. * The objective of the Demir JV will be to advance the Clontibret gold deposit and other gold discoveries to a ‘construction ready status’ and into operation as a mine. Turkish- owned mining company Demir has both the technical expertise, resources and financial clout to make such an objective become a reality. * A maiden 3,000-metre drilling programme under the new JV is set to commence later this month, which we believe could lead to results being announced in May/June. This is just the initial stage of what is projected to be an extensive exploration and development JV programme funded by Demir. * A primary goal of the JV is to expand upon what is known at Clontibret, which has a JORC resource of 0.5m ounces of gold defined. This is believed to represent only around 20% of the known deposit, with the resource open at both depth and in all directions. * Dalradian Gold’s world class 6m ounce plus gold deposit located nearby at Curraghinalt provides a reference point project for what could be achieved. At Curraghinalt, the deposit extends to a depth of 1,200 metres. In comparison, most of the exploration drilling at Clontibret has been at much shallower depths of less than 200 metres, with a maximum 350-metre depth. * The JV will also seek to bring other gold prospective targets such as Clay Lake, Glenish and Slieve Glah in the Longford-Down Massif district scale gold trend towards a ‘construction ready status’. * Three new licences were granted earlier this week to Conroy Gold, which will be included within the JV to give a total of 15 licences, encompassing almost 1,000 sq. km. * Conroy’s balance sheet was boosted last week, following the payment of €1m from Demir Export, as part of its first Phase agreement commitments, which will see at least €10m invested into the JV over phases 1 and 2. Recommendation & Valuation We have revised the valuation numbers from our Oct 2020 research note, which is based upon the Clontibret Scoping Study (2011) and potential exploration upside. This reflects higher projected long-term gold prices (US$1,850 per ounce) and a reduction in certain risk factors such as the ‘Development and Resources’ risk following Conroy’s link up with Demir. This computes to an estimated Group valuation of US$85.9m (prev. US$55.1m), representing a 56% improvement, giving a price per share of 168p (prev. 138p). As work under the JV partnership now begins in earnest and advances over the coming periods, there should be plenty of opportunities to substantially improve our estimates as the 2011 JORC is potentially enhanced to include a larger Clontibret deposit, and perhaps a resource definition achieved on other gold licence targets. The market has not understood the importance and ‘Company Maker’ deal Conroy Gold has secured with Demir Export and substantial de-risking impact this has upon the investment case. With a market cap of £12.6m, investors still seem to be pricing the shares as an early-stage exploration company, rather than a mid-stage entity, with an established path being set towards potential mine ‘construction ready status’. With these thoughts in mind, and near-term drilling results news-flow under the new JV anticipated in the coming months, we reiterate our ‘Buy’ recommendation with a 168p share price target. BUY Conroy Gold and Natural Resources plc (CGNR.L)*- 7 April 2022
murphy2000: This is the month it all kicks off, drilling continues and first results expected late April to mid May. Anything positive and along with the Hugh land mass with massive unexplored potential along with a friendly mining environment all bodes well for CGNR. You take your pick, mine in Russia or Mine in Ireland. It’s a no brainier but the negativity and the constant doom sayers managed to keep sentiment negative. Not any more, this may have been a basket case but now with a major backer, world economic events make this better than 70% bet for a major share price rise along with its measley market cap of 12.5m make this a buy. This will be a fourth attemp at the 50p area, expect resistance but any break above 60p means 200p is on the cards and possibly higher.
robemy: Prof is positively raging about the state of the share price. Never heard him so disgusted about it. Going to take a serious look at it and take steps to resolve it? How does that work?
swingbysome: Diamond_Mountain ......... Up 10% on small volume yesterday then down 10% on very small volume today . This to me is primed to explode hence rather than watch the Market Cap go up and down 10% daily on thin air I chose to do other more constructive things today . As for my top up well I'd have to be a fool not to be happy with the small amount of CGNR shares I got having learned what having a large position was like whilst invested in XTR when the share price sea-saws like this .
swingbysome: I think CGNR is being shorted by the Market Makers to fill a large order . Until it's filled the share price will drift lower even though I have shares with an average share price of 37p each I'd be happy to double up when the drift stops but then who knows when that will be . In the mean time I'm just watching the sells which I interpret to be MM's closing their short in open market to fill their order / short ........ Yep , we all read market signs differently but the fundamentals of CGNR are rock solid meaning MM manipulation won't last forever .
swingbysome: with all the news in the last month I felt a retrace was going to happen . Which is normal for any upcoming stock hence back in with an average share price of 37p/share now . When next news arrives I'm sure the Market Makers will gap up above the 50p warrant price announcing they have been executed with money going into CGNR coffers . Yep , the stock market is a strange world full of many mysteries but then the MM's have to cater for everyone .
goggin: Cgnr has a market cap of app 10m, do the maths and know that share prices are not based on fundamentals only but driven in large part by sentiment and future prospects. Hence we seem many loss making companies year after year rake up millions of £ in losses, never turn a profit yet have mark caps in the 10's of millions. If you believe cgnr is a heap of rubbish, stay away, if you believe in its future prospects and are in for the long term and are prepared for massive swings both up and down with long periods of inactivity, cgnr has the potential to be massive and a market cap of 160m equates to a share price of app £4 with 40m shares in issue. You love figures so you do the maths. Having been here for over 20 years, I see them come and go, all the doomsayers don't understand what is really going on behind the scenes and demanded immediate jam, that jam has taken time to come to fruition as has most things that are good in life - it takes time.
fullbreakfast: Somebody must have spiked my drink, CGNR share price appears to have gone up.
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