Back for my annual checkup and good laugh. The prof takes blarney to new extremes I see touting the capital reorganisation as a catalyst for SP increase.
SP really 0.24p.
More gold found, again. Still no mine, obviously.
Glad to see PI's are not falling for it though judging by lack of posts on the board. If the company can keep finding suckers in the city to put up for placings to keep the scheme going and their salaries paid, then good luck to them.
23rd November 2015 - the company announces amongst other standard bits of nonsense:
In addition, it is the Boards view that the increased share price, which the Directors expect will result from the Capital Reorganisation will be more attractive to a greater number of investors
down nearly 50% since the capital reorganisation, what a complete flop and clearly the boards view is not worth much, they need to get their fingers out their backsides and do more than spout drivel to make it more attractive to anyone.
Good on you professor :-). Secured the old salary for another while.
Up goes the share count and down goes the price and the gold is safe and sound in the ground.
Ah well, why not keep spinning the wheel as long as someone is willing to pay for the shares. Good money after bad.
Thanks for the effort to enlighten me S J
I am currently out of this stock and thought I had missed the boat on a big uplift!
I dont think there will ever be one.
Also interested as my birth place is in the county next door, north of the border.
Good luck to all who are keeping the faith anyway.
They announce today that there is "more gold in them thar hills to be sure" and the share price goes down. One of these days they are going to tell us it was all a big mistake there is no gold and the price will shoot up. I just wish they would actually make some progress in bringing some product to the market.
Conroy (AIM: CGNR), (ESM: CGNR.I) which is planning to develop a gold mine at
Clontibret in Co. Monaghan Ireland is pleased to announce that it has
conditionally raised �750,000, through an oversubscribed placing (the
"Placing") and subscription ("the Subscription") of 75,000,000 Ordinary Shares
of EUR 0.01 in the capital of the Company ("Ordinary Shares") (the "Placing"
and "Subscription" Shares) at a price of 1 pence sterling per share ("Placing
and Subscription Price").
As part of the Placing and Subscription, Mr Patrick O'Sullivan has subscribed
for 20,000,000 shares. Following admission, Patrick O'Sullivan will hold
50,714,546 Ordinary Shares in the Company, representing 11.88 per cent of the
Company's enlarged share capital and total voting rights.
The Company intends to use the proceeds of the Placing and Subscription
primarily to fund the Company's on-going programme at its Clontibret gold
target where a definitive mining plan is in the course of development which
envisages a Phase 1 starter pit and pit extension and Phase 2 to comprise
underground mining and/ or further surface pit(s). The remaining proceeds will
also be used to continue its exploration at its Clay Lake, and other gold and
base metal targets, and put towards working capital purposes.
The Placing and Subscription is conditional, inter alia, on admission of the
Placing and Subscription Shares to trading on AIM and the Enterprise Securities
Market operated by the Irish Stock Exchange Limited ("ESM"). The Placing and
Subscription Shares will rank pari passu with the existing issued Ordinary
Application has been made to AIM and ESM for the Placing and Subscription
Shares to be admitted to trading and admission is expected to take place on 22
On admission of the 75,000,000 Placing and Subscription Shares, the Company
will have 426,999,972 Ordinary Shares in issue.
Professor Richard Conroy, Chairman, commented:
"I am extremely pleased to announce the oversubscribed fundraising of �750,000
which will enable the Company to progress its Clontibret Project one step
closer towards production. The resources market continues to be challenging and
we feel the overwhelming support we have received from new and current
shareholders is testament to our plans to develop what will be the first
significant gold mine in the Republic of Ireland in modern times."
This is not the only potential gold mine in my SIPP portfolio and the other is at a similar stage. My rationale is that if there is something in the ground in commercial quantities (which there demonstrably is in each case) then at some point someone is going to get it out. If you own a share of the company that owns the licenses then you either win when they do it themselves, or you win when they sell out to someone who can. Either way it is a long haul, but the rewards are good. For a small slug of my pension pot I can afford to wait.
For nearly 20 years the prof has been stringing investors along with 'substantial' gold finds. It allows him to issue new shares to fresh new investors so he can pay his salary. The market, and even excitable PI's got completely bored of it about 5 years ago. Now he can only raise money from himself.
They will never open a mine. That is what we are waiting for.
Yesterday's news was positive regarding the potential for this stock. So, what will it take to get the share price moving? A year ago there was a lot of positive sentiment coming out but since then silence. Does anyone know what we are waiting for and when we are likely to see it?
A director loans money to his Company when he (or the BoD) could have issued additional shares to fund the said amount of the loan.
The SP drifted lower due to market conditions (not due to poor communication by the BOD or no Action Plan with dates). Who can predict the markets!
When the time is right our Director then converts this loan with the blessing of the BoD at a much lower SP (many times lower). He now has X time the shares he would have had.
If some really interesting news was to follow ( the jam truck arrived) that increased the SP drastically . but not immediately say within a few months of this loan conversion well that would be fortuitous.
Just purely speculating and not pointing fingers or anything like that!
Important message from the Financial Conduct Authority:
Posting inside information that is not public knowledge, or information that is false or misleading, may constitute market abuse.
This could lead to an unlimited fine and up to seven years in prison.
If you have any information, concerns or queries about market abuse, click here.
The content of the messages posted represents the opinions of the author, and does not represent the opinions of Interactive Investor Trading Limited or its affiliates and has not been approved or issued by Interactive Investor Trading Limited.
You should be aware that the other participants of the above discussion group are strangers to you and may make statements which may be misleading, deceptive or wrong.
Please remember that the value of investments or income from them may go down as well as up and that the past performance of an investment is not a guide to its performance in the future.
The discussion boards on this site are intended to be an information sharing forum and is not intended to address your particular requirements.
Whilst information provided on them can help with your investment research you need to consider carefully whether you should make (or refraining from making) investment or other decisions based on what you see without doing further research on investments you are interested in.
Participating in this forum cannot be a substitute for obtaining advice from an appropriate expert independent adviser who takes into account your circumstances and specific investment needs in selected investments that are appropriate for you.