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Does anyone know anything about Conroy Diamond?

  • 31-01-2011 12:07pm
    #1
    Dude240502
    Registered Users, Registered Users 2 Posts: 229 ✭✭


    Does anyone know anything about this share? I read that apparently there are results to be released soon, I have also notced preditions on the iii site that it'd multiply if the results are positive. Do you believe a lot of the posts on this site? I think it is also traded here, if the results are positive do you think it has potential?


Comments

  • #2
    poodles
    Registered Users, Registered Users 2 Posts: 426 ✭✭poodles


    Dude240502 wrote: »
    Does anyone know anything about this share? I read that apparently there are results to be released soon, I have also notced preditions on the iii site that it'd multiply if the results are positive. Do you believe a lot of the posts on this site? I think it is also traded here, if the results are positive do you think it has potential?


    I own a few shares in the company. From reading the website and current jorc it would seem that the company is undervalued on current reserves...

    On 15 Jan 10, Edison Investment issued their Gold Report. In this report they analysed 41 London-centric companies in order to derive a weighted average differentiated value for ‘measured’, ‘indicated’ and ‘inferred’ resources in the London market.

    They gave a value (based on a gold price of $1136/Oz mid) $403.53/oz Measured, $85.94/Oz Indicated, $3.78/Oz Inferred .

    HOWEVER, the gold price is currently $1375/Oz, a 21% increase from Edisons mid value gold price on 15 Jan 10 of $1136.

    Threrefore, I'll use updated values (with 21% added):




    CDG Shares in Issue: 230,464,487

    Discovery Value - Extraction Costs for Indicated Gold / Oz:

    $103.98/Oz - $15.16/Oz = $88.82/Oz

    440,000 Oz * $88.82 = $39,080,800 = £25,138,813

    £25,138,813 / 230,464,487 Shares = 10.9p


    Remember, this is only for 20% of the Indicated in the Clontibret Project.


  • #3
    Dude240502
    Registered Users, Registered Users 2 Posts: 229 ✭✭Dude240502


    I read posts that suggest the share'd double immediately if the results are positive, does anyone else think this is so?


  • #4
    poodles
    Registered Users, Registered Users 2 Posts: 426 ✭✭poodles


    Dude240502 wrote: »
    I read posts that suggest the share'd double immediately if the results are positive, does anyone else think this is so?

    It will depend on how the news is taken up by the markets.
    OTC recently announced an increase in their JORC (albeit a reduction in the measured catagory) but the SP tumbled 50%

    What are you expecting / want ?
    Most of these companies true value won't be shown for atleast 1-2 years.
    If you want to make a quick buck here it will be hard unless you time it right.


  • #5
    Dude240502
    Registered Users, Registered Users 2 Posts: 229 ✭✭Dude240502


    I'm sorry, according to the iii site in October this share increased three hundred and fifty percent in less than a week, does this not often happen in the AIM?


  • #6
    poodles
    Registered Users, Registered Users 2 Posts: 426 ✭✭poodles


    Dude240502 wrote: »
    I'm sorry, according to the iii site in October this share increased three hundred and fifty percent in less than a week, does this not often happen in the AIM?

    Take a look at Condor Resources Chart (CNR)


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  • #7
    Dude240502
    Registered Users, Registered Users 2 Posts: 229 ✭✭Dude240502


    I'm sorry, did the decline follow a positive results announcement? Also, if the share did increase thirty-three times in less than six months, is that not remarkable even for the AIM?


  • #8
    Jim2007
    Moderators, Business & Finance Moderators Posts: 10,606 Mod ✭✭✭✭Jim2007


    Dude240502 wrote: »
    I'm sorry, did the decline follow a positive results announcement? Also, if the share did increase thirty-three times in less than six months, is that not remarkable even for the AIM?

    These companies are small in market terms and their prices can easily be distorted by a few trades. Just because the last trade was at £X, does not mean that you will be able to get the same price or even close to it, if there are few buyers and sellers that is what happens.... prices can change quickly, so it is a high risk game and nothing to put too much money into.

    Jim.


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