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Even a few of our detractors have now come around
AIM-listed Karelian Diamonds (KDR) – the junior part of the Prof. Conroy AIM twosome (the other being Conroy Gold and Natural Resources, CGNR) waited until the last of the Jubilee bunting was being put up at 3pm the day before a double bank holiday (truly no-one-is-watching o’clock) to announced that the final meeting of the Finnish National Land Survey in relation to Karelian’s diamond mine plans at Lahtojoki has been delayed. Fortunately, ShareProphets was watching…..
The good Professor Conroy and his team at AIM-listed Conroy Gold and Natural Resources (CGNR) must be feeling very pleased with themselves this morning, as the company announced a decent-sized fundraise to bring in £1.87 million in cash (before expenses) and a debt-for-equity swap regarding outstanding director fees and other debts to wipe out £379,000 of monies due. So does this finally cure Conroy’s long-running illness of technical insolvency, as highlighted by the Auditor in November’s FY accounts to May?
AIM-listed Anglo Asian Mining (AAZ) has walked on its proposal with fellow AIM-listed Conroy Gold and Natural Resources (CGNR) to form a joint venture with Conroy’s gold assets in Ireland. Not such a disaster for Anglo Asian, but there is a question over who pushed who and when. Meanwhile, it seems that Anglo has been replaced by Turkish outfit Demir Export AS.
I noted a few weeks ago that ShareProphets’ favourite technical analyst, Jordan Roy-Byre of TheDailyGold.com, has called the end of the Gold correction which started last August. It was a very rare error. Now, noting that making declarative statements does not necessarily add value for the reader, he has called the bottom for gold miners and juniors. I hope he is bang on the money this time!
Like its AIM-listed little sibling Karelian Diamonds (KDR), fellow AIM-listed Conroy Gold and Natural Resources (CGNR) has had six months to release its FY numbers and waited until no-one-is-watching o’clock on deadline day to admit the grizzly truth. But luckily once again ShareProphets was indeed watching.
AIM-listed Karelian Diamonds (KDR) – the junior sibling of Conroy Gold and Natural Resources (CGNR) – has announced a placing to raise £420,000 at 4p per share, a whopping 24% discount to yesterday’s closing price. That’s all very well, but by my maths it still leaves the company technically insolvent…
Good news this morning for AIM-listed jam- (or, rather, gold) tomorrow explorer Conroy Gold and Natural Resources (CGNR) as it has raised a fairly decent amount of cash – £800,000 – at 25p. Heck, if this goes on for much longer the company will no longer be technically insolvent! It might not be already, although I wouldn’t be too sure. So are the shares now a buy?…
Sometimes something comes out of left field and takes you by surprise. This morning, AIM-listed Conroy Gold & Natural Resources (CGNR) announced a proposed joint venture with fellow AIM-listed Anglo Asian Mining (AAZ) aimed at bringing Conroy’s Irish gold assets to production. Anglo Asian is a serious player, so this deal is a great achievement for Conroy – even if, as things stand, it remains heavily technically insolvent.
It is we in the private sector that have suffered the massive economic pain from the Government's blundering during Covid. It is also the private sector that will eventually create the jobs and wealth to pay for it. So what is Boris doing? He's landing us with a bigger bill to pay so he can reward doctors (the top 2% of earners), taking the fucking knee policemen and the bedwetting stay-at-home teachers. Fuck you Boris. You and I are done - this was the final straw. After thar brief message from a (now) Plaid Cymru supporter, I look at healthcare bubbles, Aids and Covid, at Midatech Pharma (MTPH), Audioboom (BOOM), Conroy Gold (CGNR), IQE (IQE) and Bidstack (BIDS).
AIM-listed lifestyle company Karelian Diamonds (KDR) has issued what must be the most ludicrously ramptastic RNS this morning. It is, and has been for ages, technically insolvent and yet this morning it has issued a statement telling the market that it has been granted new diamond exploration reservations in Finland. Given that it has no money, or at least it has negative net current assets last measured at MINUS EUR 1 million as at last November, what’s the point? It can’t explore what it already has!
Roll up, roll up – buy now, pay whenever you like! AIM-listed Conroy Gold and Natural Resources (CGNR) seems to be behaving more like a cheap furniture shop, rather than a serious company when it comes to raising money. On Thursday afternoon it updated on the placing way back in February, under which (unbeknown to the market) most of the cash it said it had raised didn’t arrive. Updates last month detailed some cash which finally dribbled in and on Thursday we learnt that another £50,000 had arrived. Good news……just £100,000 to go out of a £302,500 fundraise.
We truly live in mad times. The printing presses are running full steam, the dole queues building at rates not seen for decades, the economy imploding and yet on the AIM Casino there are stocks trading at ludicrous levels. I offer three: Catenae (CTEA), Conroy Gold and Natural Resources (CGNR) and Tern (TERN).
Back on 2 April, AIM-listed jam-next-century gold play (apparently) Conroy Gold and Natural Resources (CGNR) finally got around to fessing up that its much celebrated fundraise six weeks previously has seen a shortfall in that £188,000 of the £302,500 supposedly raised (ie well over half) had not arrived. The whole episode stank of AIM Rules breaches and a letter duly landed on Oxymoron-in-chief Marcus Stuttard’s desk. We were told a further update would follow as soon as possible and in classic Red Flags at Night fashion, yesterday at 4.51pm on a Friday evening – no-one-is-watching o’clock – the update duly arrived. Now if all the money had arrived, I reckon we would have found out at a more normal time like 7am……
On 18 February 2020 AIM-listed lifestyle company Conroy Gold and Natural Resources (CGNR) announced a successful placing to raise £250,000 and that it had undertaken a subscription to raise a further £52,500 all at 12p per share. Yesterday, more than six weeks later, the company ‘fessed up that a total of £188,000 was still outstanding. It seems to me that the “successful placing” was anything but at time of announcement, given that the cash was yet to arrive, and that the company had not “undertaken” a subscription to the extent originally advised for the same reason. “Undertaking” maybe, but not “undertaken”.
I swear i am not joking. I discuss my life with Evil (no, Mt BBM we are not gay lovers, stop sniggering at the back) and his remarkable macro view. I also reveal I have a treat for you all, keep May 8 in your diaries! In terms of stocks I look at the scandalous flouting of almost every rule by AIM Casino posterboy Conroy Gold & Natural Resources (CGNR) and the wider issue that the Oxymorons at AIM Regulation will do SFA about. I look at Burford (BUR) and more vindication for my pal Carson Block of Muddy Waters, at Carnival (CCL) - sorry Three Brains - and at Coro Energy (CORO) where the curse of James "Dracula" Parsons strikes again.
All bear markets are different, but it strikes me that the current one does bear some resemblance to the banking crisis of 2008. For a start, the apparent solution is more money printing from the central banks and more record-low interest rates. And that brings me to gold.
I covered technically insolvent Conroy Gold and Natural Resources’ (CGNR) interims and came to the obvious conclusion that it was technically insolvent. Yesterday its sister company (with largely the same management), AIM-listed Karelian Diamonds (KDR) followed with its own half-year numbers and guess what. But the statements are just unutterable tripe which, I suggest, are intended to mislead.
Of course there is insolvency as far as the law is concerned, and insolvent in that there isn’t enough cash to pay the bills but AIM-listed Conroy Gold and Natural Resources (CGNR) had not the cash to pay its bills, but still goes on. The interims to last November 30 show that it clocked up a pre-tax loss of EUR 278,000 and had negative net current assets of a stonking MINUS EUR 3.7 million!
This really is today's bearcast despite my introduction. Thanks for the kind messages about the flooding, the waters are now recedng fast. In today's podcast I look at China and the Coronavirus and ask WHEN IQE (OQE) will warn and if that will force a discounted placing. Methinks it will. I then look at the rioles of brokers (does research mean anything)? and Nomads (rules on quitting) in general and specifically in relation to Versarien (FRAUD). Then I discussa crazed TW hater and Optibiotix (OPTI) and how ultimately all comment on a company cannot determine its real value. In that vein I also look at Novacyt (NCYT) before finally looking at the worthless joke that is Conroy Gold and Natural Resources (CGNR). And I announce a fifth rogue blogger, Praise the Lord. Please donate something to the Woodlarks appeal HERE
I had been wondering what was going on at AIM-listed Conroy Gold and Natural Resources (CGNR). At the turn of the year the shares were languishing at just over 5p and raced ahead to around 15p until last Wednesday when the shares staring slipping. Of course there is no insider dealing – this is AIM after all – and surprise surprise this morning we learn of a placing and subscription to raise a poxy amount of cash to feed the electricity meter.
Not content with leaving burying bad news on polling day to the likes of Purplebricks (PURP) or Versarien (VRS), this morning – election results day – AIM-listed Anglesey Mining (AYM) joined the fray with its Interims to September. They are truly horrid.
As has been pointed out on numerous occasions on the website, AIM-listed Karelian Diamonds has a balance sheet in a complete mess and I reckon it has been techinically insolvent in that it has negative net current assets for an age. Not only that, like Conroy Gold and Natural Resources (CGNR), it is run by the goodly Professor Conroy, has money owed back and forth between the two, used to be part of Conroy anyway, shares its head office, has been under attack from disgruntled shareholders (twice) and has little to show for its existence. So today someone has ponied up £240,000 to keep the lights on. Nothing surprising there – this is AIM, after all – but the price is surely bonkers!
Why would a company which claims to have had a year….of highly encouraging progress sneak out its results at approaching quarter past five in the evening – no-one-is-watching o’clock? Let us turn to the auditor’s report for AIM-listed Conroy Gold and Natural Resources (CGNR) in its Annual Report for the year to May 2019 – in particular the Going Concern section. Here we are told:
I am not well as the repeated coughing implies. I have self diagnosed and think I may have bronchitis. Anyhow apologies for more coughing today. In the podcast I look at Tomco (TOM), Conroy Gold (CGNR), Sports Direct (SPD) and at Kier (KIE).
In today's bearcast I look at shitty little gold plays like Conroy (CGNR) and Condor (CNR) at their relationship to the gold price. I cover Burford (BUR) noting today's interventions from two giants of the investment world: Carson Block of Muddy Waters and Roger Lawson of ShareSoc. I look at Providence Resources (PVR) a comedy set to end in tears, at Diversified Gas & Oil (DGOC) a tragedy set to end in tears and also at Neil Woodford and that Cenkos (CNKS) profits warning.
Two RNSs yesterday from AIM-listed Conroy Gold and Natural Resources (CGNR) and its under-fire little brother, AIM-listed Karelian Diamond Resources (KDR), raised my eyebrows...
Oohhh goodie! It was announced on Friday morning that AIM-listed insolvent POS Karelian Diamonds (KDR) had received a EGM requisition to sack the board……but due to a technicality the requisition received was not valid. However, on the expectation that another is on the way minus any technicalities causing problems, it looks as though the Prof Richard Conroy soap opera is set to take another turn.
With its sister company, Karelian Diamonds (KDR) having published interims a couple of weeks back showing balance sheet in all sorts of trouble, this morning Conroy Gold and Natural Resources (CGNR) took its turn – where we find the same problem, and some class comedy from the good it’s the way I tell ‘em Professor.
This morning AIM-listed Karelian Diamonds (KDR) - the Prof Conroy sister to Conroy Gold and Natural Resources (CGNR) - offered up its Interims to the end of November. Prof Conroy was pleased, but should shareholders be enthused?
Yesterday it was the turn of AIM-listed Conroy Gold and Natural Resources (CGNR) to show that it is one tiny little centipede step from insolvency. Today sister company, AIM-listed Karelian Diamonds (KDR) took advantage of a good day to bury bad news and followed suit – and my conclusion is the same. Indeed, for Conroy Gold there is another worry here which could bring its life to an early termination. My view is that both are stand-out sells and here is why...
AIM-listed Conroy Gold and Natural Resources (CGNR) offered up its FY results to May y31 esterday morning. There was plenty of blarney, of course, but the bottom line is that the balance sheet is in a mess – it needs yet another mega-placing PDQ to keep the lights on, and I don’t think it will get it away. Oh, and NED, Dr Karl Keegan, is stepping down after just 15 months in the job. In short, the end appears to be nigh.
I start with the final part of my story of battles with the bastards at Barclays (BARC). Then I cover Wishbone (WSBN), shares we own, Online Blockchain (OBC), shares I'd rather eat my own toes than own, MySquar (FRAUD), Conroy Gold (CGNR), I3 Energy (I3E), Catenae (CTEA) and Oilex (OEX).
AIM-listed Conroy Gold and Natural Resources (CGNR) has announced a new gold outcrop discovery in Ireland, between its Clontibret gold deposit and the Corcaskea gold target. So will this discovery transform the company’s prospects, or – bearing in mind that it has to report year-end results to May of this year by the end of next month – does this news mark the beginning of a pre-placing ramp?
I cover Conroy (CGNR) elsewhere but its the sort of seedy waste of space nonsense that makes me despair of AIM. And so i turn to a follower of JC, Archbishop Justin Welby. The JC I refer to is of course Jezza not Jesus. Welby's comments yesterday are so utterly wide of the mark, no wonder he leads a failing organisation.
Share Talk is a website that takes money from, usually, crap companies. It does not appear discerning. If you are a PLC with a cheque book come on down! It does not disclose its business model and it then provides what it terms “the Independent voice across social media” or what you and I would term sordid share ramping. Shares in Conroy Gold (CGNR) are up 30% today to 13p to sell thanks to such ramping. But before you get too carried away….
AIM-listed Conroy Gold and Natural Resources (CGNR) has announced a placing at 13.75p to raise £0.5 million, boasting a 20 per cent premium to the market price. Well that’s fine and dandy – so why has the market not piled in behind the placees? The shares are up just one penny, leaving the stock at 12p to sell.
Perhaps my Gaelic is not quite up to scratch and I am willing to stand corrected by the founder and chairman of Conroy Gold & Natural Resources (CGNR) but I am trying to say in the language of "the old country" that he is talking bollocks in today's news release.
I shall soon be on my first training walk in the 34 degree Greek heat. This is just a short five miler but on Friday I plan a 12 mile plus stroll of which the first five miles is solidly uphill. For that surely you can donate a tenner to the Woodlarks charity walk appeal HERE. In today's bearcast I look at MySquar (FRAUD) where I have breaking news, Audioboom (BOOM), Johnston Press (JPR), Safestyle (SFE), Telit (TCM), Conroy Gold (CGNR) and Indivior (INDV).
The great news is that our Woodlarks walk has now reached 57% of its sponsorship target. I'll do another training walk this afternoon with Joshua so as we do a quick march how about you check out the latest incredibly generous donations here and chip in yourself? In a long bearcast I cover Tesla (US:TSLA), Fishing Republic (FISH), Kibo (KIBO), UK Oil & Gas (UKOG) as lyin' Steve does the right thing - Frontera (FRR), Conroy Gold (CGNR), TrakM8 (TRAK), Avanti (AVN) and Cabot Energy (CAB). PS Wasn't the football incredibly exciting and a source of such joy? I view myself as British, not English but go on Eng-er-land!
The lawyer's letter? I must keen you in suspense as I discuss with my lawyers how to respond so you can still vote on who sent it HERE. I also chatted today to Lucian about three slam dunk shorts: Telit (TCM), Purplebricks (PURP) and Tesla (TSLA). Or are they slam dunks? Might disbelief be suspended forever.? I then look at Photonstar Led (PSL) at Conroy Gold (CGNR) and at how AIM gives capitalism a bad name by not letting bust companies such as Andalas (ADL) fail.
I look at a Winnifrith Rule AIM must introduce for board outsing EGMs ref Pathfinder (PFP), Magnolia (MAGP) and Conroy (CGNR) and I look at why we are in a bear market but why I'm not panicked. If you like bearcasts then remember that at UK Investor on April 21 one of many highlights will be a live bearcast with myself and Paul Scott. Make sure you book a free ticket HERE using the promotional code WINNIFRITH
Yesterday the good professor Conroy’s elder child, AIM-listed Conroy Gold and Natural Resources (CGNR) released its interims to last November and it needs cash. Today it is the turn of little brother, Karelian Diamonds (KDR) and the picture is no better. And as you shall see, there is an air of one insolvent partner funding the other. At least, that’s how it looks. And I wonder about the maths….
AIM-listed Conroy Gold and Natural Resources (CGNR) published its interim accounts to 30 November 2017 this morning. Ignoring the jam tomorrow (we’ve seen that all before) it is clear that the company was up to its eyes in debt, not that chairman Prof Richard Conroy was bothered by that as he introduced his chairman’s statement with “I have great pleasure in presenting your Company’s Half-Yearly results”. He’s pleased – but I doubt any shareholder with half a brain cell will be.
Having asked for readers tips for 2018 for the amazing prize of a meal with Tom Winnifrith (or the chance to fob it off on someone you don't like) HERE, the following is a monthly update on performance (to be eligible needed to have selected, on a per username basis, a buy & sell pick from the LSE or AIM Casino and the stocks not to have been suspended at the commencement of 2018)...
Delisted from the junior Irish market but still trading on AIM, Conroy Gold and Natural Resources (CGNR) has put out a business update. The ShareProphets RNS Translation Service, having already had a field day on Telit this morning, is on a roll (original in bold)….
In today's podcast I reflect oin how good it is to be back at home with my son and heir Joshua causing me sleep deprivation and Oakley the cat pissing on the doorstep. I end with my battles with Bath Spa which continue but I have an invitation which would allow me to go National on it if BS does not do the right thing. I explain this. The meat of the podcast covers MySquar (MYSQ) - the fraudtsers - and Julie Meyer MBE, Mothercare (MTC), Conroy Gold (CGNR) and Prospex Oil & Gas (PXOG). Finally I have a question or two for Fishing Republic (FISH) about its acting CEO
I am still in a foul mood about you know what. In this podcast I cover Westminster Group (WSG) and its vile chairman Tony Baldry, Concepta (CPT), Servision (SEV), Inspirit (INSP), Sabien (SNT), Milestone (MSG) and a broken promise, Conroy Gold & Natural Resources (CGNR) and Integumen (SKIN)
I’ve been wondering what comes next for Prof Richard Conroy’s AIM vehicles Karelian (KDR) and Conroy Gold and Natural Resources (CGNR). From my review of their financial results to May of this year (see HERE and HERE) it is clear that they are both in deep trouble – they are running out of money fast and the results to last May show that quite clearly. Lord knows how bad it is now.
Yesterday I described the FY17 results of Karelian Diamond (KDR) and a series of Red Flags to be found. Today we look at its stable-mate, AIM-listed Conroy Gold and Natural Resources (CGNR) and find a similar story. It is a car-crash festooned with more Red Flags.
I start with a few comments on the thoughts of top broker Andrew Monk who is normally bang on the money but on a couple of recent points wrong. Then it is onto Conroy Gold & Natural Resources (CGNR), Karelian Diamonds (KDR), Fishing Republic (DOG), Bushveld Minerals (RAMP) and ITM Power (ITM).
AIM-listed (and no longer on Ireland’s ESM market) Conroy Gold and Natural Resources (CGNR) and Karelian Diamonds (KRL) released full year results this morning. It is a double set of Red Flags for these two lifestyle companies of Prof Richard Conroy – and despite the latter having been floated off by the former, more Red Flags come into play with related party transactions. But the biggest sin of all is treating your own shareholders as utter muppets, which is where I start.
AIM-listed Karelian Diamonds (KDR), like fellow AIM-listed Conroy Gold and Natural Resources (CGNR), is run by the good Professor Richard Conroy. Tom Winnifrith has exposed a pretty gruesome histoire at Conroy, but what about its little brother?
I am sorry that bearcast is late. I am just back from lecturing the snowflake sociology students of the Mrs. I think I may have intruded on their safe space with some challenging thoughts in my talk "Lies, damned lies, public sector underpay and other myths." I hope to have a recording and the slides up here later this week. Pro tem I offer up some thoughts on Cogenpower (CGP) - to become Monreal PLC - Paternoster Resources (PRS) - now co run by Amanda Van Dyke, formerly of this Parish but now on the dark side, Falanx (FLX), Interquest (ITQ) and Conroy Gold & Natural Resources (CGNR)
Yesterday I discussed Doorsteps.co.uk which claims that it will flog your house for £99. I now look more closely at its history and the utterly shameless way that Crowdcube raised £400,000 for it; at the fact free and unquestioning BJ's its 19 year old founder has received from Fleet Street and speculate about how bad its metrics really are. That it has raised cash so easily is bad news for Purplebricks as it is now funded to nibble at its market share and so will be others until they all go bust. But it will be too late for Purplebricks by then. I then have hot gossip on Telit (TCM) which shows up the FT's dictation from PR men taking hacks for the fools they are and reinforces the shorting case big time. I cover UK Oil & Gas (UKOG) and Conroy Gold & Natural Resources (CGNR), both need to place ASAP and in both cases it will be ugly. I also remind you again what UKOG is NOT saying.
I start with a trip down memory lane this October 13th. It's back to 1987. can you remember why? Then, if you thought punters in Cloudtag (CTAG) or MySquar (MYSQ) were bonkers ( well they are) then meet Helios & Matheson. This tale will have you in stitches. Unless you are a MySquar moron in which case you will probably see it as an investment opportunity. Then it is onto UK Oil & Gas (UKOG), the Frogs selling and the slump to 2p or less. BTW Lucian Miers is now well in the money and added to his short yesterday. I explain why i3 Energy (i3E) is doomed and will crater soon and also go into the mounting woes of Conroy Gold & Natural Resources (CGNR) after this morning's news.
It is bad enough that Conroy Gold & Natural Resources (CGNR) faces a potentially massive stock overhang as it tries to arrange a placing to pay the bills but it is now facing an upping of the regulatory ante. Perhaps that is why Conroy has today announced it is surrendering its joint quote on the ESM and being listed on AIM. Or maybe that is just to save cash?
I forgot to ask one big question at the Conroy Gold & Natural Resources (CGNR) GM on Friday - when is the next placing? But before we come to that - and the answer must be soon - there is a little matter of possibly the biggest stock overhang on AIM. The TR1's are flying thick and fast.
Answers on a postcard. But for starters, one Hathaway, One had a way but lost it. I start with a detailed look at the Woodford Patient Capital Trust (WPCT) then run some numbers by you on LPE's and Purplebricks (PURP). I mention UK Oil & Gas (UKOG) en passant, Jersey Oil & Gas (JOG), Columbus Energy (CERP), Mirada (MIRA) and finally Conroy Gold & Natural Resources (CGNR)
Just to give you a flavour of yesterday's farce of a GM at Conroy Gold & Natural Resources (CGNR). The serious implications are outlined HERE. Below you see the board, then the audience packed with Conroy stooges, average age 126. Finally a picture of one old coot who on the second vote of five appeared to switch sides to join the rebels. Was it the power of my quizzing of Prof Conroy that had turned him? Er...no. A couple of minutes later he raised his hand to say that he had voted the wrong way and could his mistake be reversed. It was not a room in which to crack jokes about Alzheimer's although such bad taste would soon have been forgotten by most of those attending.
I have a question for Professor Conroy, of AIM-listed Conroy Gold and Natural Resources infamy. Tom Winnifrith tells us that the paperwork for the warrants exercised by him and by his sidekick (which were announced on Wednesday last week) was filed last Sunday. We also learnt yesterday that the cash went straight back out of the kitty to repay Conroy/Jones by settling director loans - apparently ahead of term.
The Conroy Gold & Natural Resources (CGNR) GM voted c 5 million to 4.1 million to back the current lifestyle funded, rule breaking board led by 84 year old Professor Moriaty and not the rebels From attending the meeting there are two takeaways which tell me the shares will collapse next week and proof of just how grossly misleading an RNS from Wednesday was.
This GM is sheer comedy. I have proposed all five resolutions to oust Professor Conroy and his sidekick Maureen Jones and to install three rebels. I quizzed the Professor and his coterie of aged disciples clearly despise me. I report back on the almost comic proceedings at the Conroy Gold & Natural Resources (CGNR) GM and shameful admissions made by the evil Prof.
The Central Bank of Ireland handles the sort of regulatory functions that in the UK the FCA makes such a bollocks of undertaking. A source very close to the situation has revealed that Professor Richard Conroy and Conroy Gold & Natural Resources (CGNR) are now under a preliminary investigation after the events of the past week.
At 2 PM yesterday, Capita Registrars signed off on a shareholder list at that point as being those who could vote at Friday's GM called to oust fat cat bosses Professor Richard Conroy and his henchwoman Maureen Jones from Conroy Gold & Natural Resources (CGNR). Shortly before 2 PM the Professor called Capita and added 500,000 shares to the register - probably enough to swing the vote. What he has done is wholly illegitimate and must be reversed at once if Capita, Nomad Allenby and AIM Regulation give a damn about their own rules and common justice.
On Friday shareholders in Conroy Gold & Natural Resources (CGNR) will vote on whether to oust chairman Professor Richard Conroy and his sidekick Maureen Jones The dastardly duo are doing everything they can to cling on as the vote will be tight.
I start with a discussion prompted by a reader request on whether a brand has a hidden added value which you should account for when making an investment. Another reader asks if it is time to buy back into Eden Research (EDEN). I think he is being spoofed and explain why. Then I look at the latest (non) news from Telit (TCM) and ask if the mortgage fraudster and fugitive from US Justice, Uzi Katz, has dumped his shares. I look at what is happening at Conroy Gold & Natural Resources (CGNR) , at the latest Mosman (MSMN) spoof, comment again on Nighthawk (HAWK) and then at the next Neil Woodford car crash RM2 (RM2).
Entries ranging from a rather optimistic zero up to a more sorrowful 19 was the range set by ShareProphets readers, but what answer did the global shorting conspiracy come to?
On today's bearcast I mention, en passant, an Irish crook I want to sue me as you can see HERE but then cover Big Sofa (BST), Conroy Gold & Natural Resources (CGNR), Mosman Oil & Gas (MSMN), ITM Power (ITM), Arian Silver (AGQ), Carillion (CLLN) and Purplebricks (PURP)
As I explained in today's bearcast, Professor Moriaty, the founder and chairman of the AIM listed lifestyle company pretending to develop a gold mine that is Conroy Gold & Natural Resources (CGNR) is currently the Number One target of the Sheriff of AIM and I am flying to Dublin on 6 October to nail him.
On today's bearcast I look at K3 Capital Group (K3C) and ask when is a legally binding lock in not a lock in? If I hear another fat cat CEO say that he is dumping shares "in response to institutional demand" I think I shall scream. I have some observations about and (unanswered) questions for BNN (BNN) and its - suspended - CEO Darren Mercer. I have some observations about the democracy hating Professor Moriaty of Conroy Gold & Natural Resources (CGNR) and then a few observations from Paul Scott and myself about Boohoo (BOO).
Apparently I am not allowed to call Sam Smith of FinnCap a fat pig because she is female and women have "body image issues". Well, as an overweight male, I can say that we men can also have such issues. I won't therefore be sexist and discriminate. I insult Sam because her firm banks a big cheque every month for acting for a firm run by an insider dealer. Sam you take money to act for crooks, I insult you and being a woman won't you off the hook. Do you understand now, you morally bankrupt cow? Elsewhere I look at: Providence Resources (PVR), Stratex (STI), Anglesey Mining (AYM), Interquest (ITQ) and Conroy Gold & Natural Resources (CGNR).
I am going to Dublin on October 6th to do my utmost to see Professor Richard Conroy and loyal sidekick Maureen Jones booted out of the company they founded and have used as a lifestyle business for far too long - and replaced by Messrs Johnson, Heddle & O'Sullivan as I noted HERE. The way that the Prof sodomised democracy at the last Conroy Gold & Natural Resources (CGNR) GM means that he is not fit to run a pissoir in Bora Bora let alone a PLC. So what dirty tricks do you think Prof Moriaty will use this time: You vote - deadline midnight tonight.
Conroy Gold & Natural Resources (CGNR) has appointed two new patsy Irishmen to its board to bolster the home team of Professor Richard Moriaty, his ever loyal sidekick Maureen Jones and another patsy Irishman. One of the new guys comes fresh from Circle Oil where he was responsible for "all corporate financial and funding matters." Hmm given how Circle shareholders lost 100% I bet they are rushing to buy Conroy shares. NOT. I guess there is only a limited pool of Irishmen so desperate for a PLC NED gig that they will sign up to take Moriaty's shilling these days. Meanwhile...
I have received a note from Maureen Jones, the close boardroom ally of Professor Richard Moriarty the founder and embattled chairman of Moriaty Gold & Natural Resources (CGNR). Maureen reckons my coverage of the last GM is unfair and wishes to put the record straight. But I am afraid that she and Professor Conroy simply just do not understand why they are in the wrong here and why that forces me and other campaigners such as the top Irish blogger Wexboy, to ensure that we will turn the next Conroy GM into a media circus to see the two ousted. Maureen writes and my comments are in bold.
I can reveal that papers have this afternoon been lodged in Dublin with Conroy Gold & Natural Resources (CGNR) calling for a second GM to install three new directors: Paul Johnson, Patrick O'Sullivan and Gervaise Heddle. But after the sodomising of democracy that was the last GM, this time the rebels are also calling for the sacking of Professor Richard Conroy and his sidekick Maureen Jones. I will be going to this GM to back the rebels. The Sheriff will get his man, Prof Con you are on notice!
I revealed on Sunday how Professor Richard Conroy had abused shareholder democracy at a sham of a GM for Conroy Gold & Natural Resources (CGNR). In preventing three rebels from joining the board when that is what shareholders clearly wanted he has shown himself no longer fit to run a PLC. I can only compare his pastoral care of shareholder rights at Conroy to that handed out by the Christian Brothers to their wards at so many boys homes across Ireland in darker days of old. The Professor shames Ireland and shames AIM with his antics. Conroy has today failed to fess up to exactly what went on and also what has happened since. Okay, he asked for this, the Sheriff of AIM needs to go to Dublin.
At 2 PM on Friday Conroy Gold & Natural Resources (CGNR) convened a GM called to fire six directors and install three rebels. What followed was such a shameful abuse of democracy that it shames AIM. Yes, even the Casino, has not seen such a disgraceful rogering of shareholder rights until now. Conroy has yet to RNS the result but I can now reveal what happened. And also make clear that Nomad Allenby has a duty to force change or must quit for this is a dark day for shareholder democracy. It is nothing short of appalling.
This Friday shareholders in Conroy Gold & Natural Resources (CGNR) will meet in Dublin to decide whether to oust most of the board and replace them with Paul Johnson, Gervaise Heddle and 28% shareholder Patrick O'Sullivan. Court documents filed in Dublin last week beg serious questions but not for the board but for the rebels.
I've known Andrea Gonella for ages. We have never, to my knowledge, met but have oft corresponded by email. He resides, I think, in Belize and seems to spend a lot of his time fishing. Lucky chap. He is also minted and someone who has for ages believed that Conroy Gold & Natural Resources (CGNR) sits on a very interesting gold deposit in some of those counties of Ireland that are part of God's own Kingdom of Ulster but are these days in the Republic of Ireland. However...
Few, other than the clowns such as Marcus Stuttard at the LSE, can argue against AIM having delivered absolutely dreadful returns for investors. Since its launch the AIM Index is down by 5.4% (dividends included). The FTSE 100 has doubled over the same period and the FTSE Small Cap Index is 250% ahead. Actually the numbers are even worse. Strip out a handful of massive winners like ASOS and Domino's Pizza and the AIM Index is into double digit losses. But are private investors who have born the brunt of this wealth destruction now getting revenge with spate of attempted boardroom purges? Yes and No.
On June 8th Conroy Gold and Natural Resources (CGNR) said that it had received a demand to hold a GM to clear out most of the existing board and replace them with Paul Johnson and Gervaise Heddle linked to Metal Tiger and large shareholder Patrick O'Sullivan. Since then silence.
Thanks firstly to those kind folks who showed some appreciation for the introduction to yesterday's bearcast - praise is always welcome. I am still in a bad mood so watch out for some choice French as I discuss Cloudtag (CTAG), Starcom (STAR), ECR Minerals (ECR), Kibo Mining (KIBO), Conroy (CGNR), Iofina (IOF) - in detail - and Sunrise Resources (SRES) and its broker Belfort Securities. Watch out it is placing ahoy at Sunrise as I explain in detail. Just do the math!
Conroy Gold (CGNR) has today put out a laughable release claiming that it is "targetting" 5 million ounces of gold at its deposits on the Irish/Ulster border. I, as you know, am still targeting getting up close and personal with Britain's most talented chanteuse but I've been on my quest a lot less long than Conroy has been, unlike the AIM tiddler I'm pursuing my quest with my own money and there is almost as much evidence to support my dreams as that of the AIM listed money cruncher. That is to say sweet FA.
AIM-listed gold explorer Conroy Gold and Natural Resources (CGNR) produced its results to May 2015 this morning, and separately announced a capital reorganisation. It makes grim reading.
Long-term AIM dog Conroy Gold and Natural Resources (CGNR) says it has discovered an ‘extensive’ gold anomaly’ of 700 by 300 metres in soil sampling at Rockcorry in Co. Monaghan some 14 km. from the company’s existing Clontibret gold and antimony project. The Dublin-based company, whose shares have evaporated from 2005’s AIM float price of 25p to 0.8p now, says four samples showed more than 20 parts of gold per billion of soil and five samples showed more than 10 parts per billion.
John Meyer of SP Angel this morning comments on Conroy Gold & Natural Resources (CGNR), Kefi Minerals (KEFI), Metminco (MNC), Thor Mining (THR) and W Resources (WRES) as well as offering a detailed macro view on the news that is shaping global mining and the AIM mining pond.
