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The market cap of just over £4m is laughable. Clontibret alone is worth at least 10 times that.
DS I don't know why Demir left other then what the RNS said & speculation means nothing. Why did they agree to the JV in the first place is a question back to you? Are you qualified to interpret drilling results or what is your background in this industry as you've made quite a lot of statements about the underlying deposits . Otherwise your argument just sounds like deramping to be honest.
DS hasn’t yet answered my questions.
1) do you hold CGNR shares?
2) either way, why are you relentlessly spouting negativity here?
Edochan if speculation means nothing, why are you asking these questions? It is not unreasonable, using the facts available, to take the view that Demir exited the JV because the results didn't justify further investment.
I didn't think Demir would enter the JV in the first place. But they did, they drilled, results were poor quality and they left.
Any resource investor can read the results and challenge the quality of the projects . There isn't even a single diagram to help investors interpret 2 years of drilling results, or understand why the company might be so positive about such low grades. It's extraordinary for a junior explorer not to share this information with investors.
Not much to be positive about, I'm afraid.
DS appreciate you can take a view that way based on recent JV announcements, you can also take a contrarian view. We'll soon find out who's right & wrong.
Taking a negative view on the company's announced results while the share price falls from 32p to under 10p doesn't seem particularly contrarian.....
Or a contrarian balanced view
every aim chart on an explo comp is also highly volitile.
up and down like a yo yo
so cgnr,is no different,to other explo comps.
he1's 3 year chart,makes this chart.....look stable,in comparison
And is there a range of views over at He1 that make up the conversation?
Mentioned in the Sunday Roast. Opinion there is Demir too slow and Conroy Gold not happy at rate of progress. Turkish economy not great, interest rates at 50% in Turkey. Mutual agreement to exit JV. Conroy need a major gold miner to develop the assets as Demir not a big player in gold. Someone big will be coming in. Probably already in talks with someone.
Roast podcast reference Demir aren’t experts in Gold
Well they are in Base Metals
Regardless of home interest rates,this company is massive
Why walk away and only to get your investment back in some distance form
Remember mining license take on average 18 months
Demir agreement including application for license upto build process
Prof mentioned young geologist may return in future
Hang on
KDR. Sister has 750Sq klm base metal exploration license right up Demir street !!
(Makes way for massive Major in Cgnr )
It’s possible they may emerge back in soon.
Who knows
Interesting times ahead
This is far from over!!
Quote = Fairview:
"Mentioned in the Sunday Roast. Opinion there is Demir too slow and Conroy Gold not happy at rate of progress... Conroy need a major gold miner to develop the assets as Demir not a big player in gold. Someone big will be coming in."
Crikey. "Demir too slow" is surely a bit ironic. CGNR have been on this project ages and have only proved excellent at making shareholders poorer and finding zip... Still, as you said, that was "opinion" and we all know about that.
Why would "anyone big" come in to this project, which has consistently proven to underperform despite the hype? A major? Pull the other one.
Mind you, check out the performance of all the "Sunday Roast" top picks for 2024 and you'd be forgiven that the actual picks were for stocks that were due to get roasted... every Sunday
"This is far from over!!"
Indeed it will run and run. But they will still find the squre route of SFA! Not a compelling purchase to my mind, there's much better stocks out there.
IMHO, GLTAH; but very importantly with this coy, DYOR.
We were told the same thing when they last talked about a JV. People just like you saying the assets are no good. Who would want to do a JV. Guess what 2 companies AAZ and Demir. There were others before COVID got in the way. The case for Clontibret and Clay Lake is the same as it was then only stronger because Clay Lake is getting bigger and the gold price is getting higher. Demir failed to test for gold at depth at Clontibret despite the fact that the gold veins are steeply dipping. They couldn't even do something as basic as that in 2 years.
All to play for here in my opinion and from a £4 market cap that doesn't even value the known asset at Clontibret.
£4m market cap that should be. Laughably low even if all they had was Clontibret
I think Demir were interested intaking a look at Conroys base metals. Didnt they let that slip in a cgnr podcast last year if im not mistaken. By this I mean KDRs ground in Fermanagh. Perhaps this is what the prof meant by some of the Demir geologists coming back. Makes sense in my view. Perhaps this is the reason Demir were so content to do the exit deal with cgnr . Think about it.
Well if Demir want to do a deal with KDR that's fine. All I know is that the prof has mentioned the Canadian miners a lot and the huge difference in valuation of very similar projects there. I wouldn't be surprised if some large mining companies are aware of that too.
This could easily go to 7.5p in a placing. £3.5 mil market cap seems about right.
Another option that cgnr have is to do a deal on the Clontibret holding company. A company like AAZ might want to develop a mine there. A lot of work already done.
Bigger target like Clay Lake could be a separate deal with bigger gold miner. Could come to an arrangement for shared processing facility. Lots of possibilities.
Any real miner will come to the conclusion you will not get permission for a large enough open pit scar in Ireland. The funds for the dreamland gravy train will have to come from somewhere outside the industry.
Prof probably doing his best wining and dining Tim nice but dim. At least he is doing work of some sort for the gravy. Not much use to current investors though.
One way or another I think this is going to work out very well in the end. Demir had no real expertise in gold mining. They are a base metal miner.
No experience of large scale gold mining and mind numbingly slow was not a good combination.
With 100% of the licences back they can focus on getting someone in who wants to build mines.
Very revisionist, this view of Demir. Seems they are not gold experts after all. Funny that!
"The Clontibret gold deposit to date has a defined gold resource of 517,000oz (JORC 2012). The deposit shows at shallow depths a similar style of mineralisation to the shallow section of the Fosterville gold deposit in Australia, and the targeting concept at depth is similar to the very high grade Swan Zone discovered at depth at Fosterville."
Well it’s an interesting comparison. Fosterville averages 4.98g/t and a cash cost of $698/oz for ‘24.
Clontibret is showing 2g/t. The cash cost will be double Fosterville and is going to be too high to be profitable for underground, and permission will never come for large scale open pit.
Don’t see how any real gold miner is going to be interested. AAZ are real and after a bit of due diligence they backed out.
They've had years to prove up the Fosterville concept and got nowhere. Clontibret is what it is. Too small and too low grade. Cyanide a non-starter. The stated aim of the JV was to develop it and they didn't.
"The possibility of a world class gold deposit at Clay Lake is, in the Board’s view, becoming increasingly likely."
Some diagrams would be useful to see what they are seeing. The ones on the website do not give the impression of world class potential.