Any views ? I hold a few.

Interesting thread on the other place.

This was posted by Mr K

My reason behind the rise of late is due to European Diamonds aquiring Conroy's diamond acreage. I believe there is a strong possibility of this happening, although I could be wrong.

Note the announcement put out by European Diamonds on 21/4/04:

The Company has negotiated terms to acquire a new claim area in Central Finland which is known to contain a two hectare diamondiferous kimberlite and at least one other untested kimberlite. The Company is currently completing its due diligence in advance of signing the acquisition agreement.

Conroy haven't got the financial resources to make as rapid a progress as they and their shareholders would like on the diamond acreage. I therefore believe that it makes sense for them to either sell the acreage to European Diamonds, who obviously have acreage just up the road, or as part of an earn in with EPD.

I'm not sure what Conroy's diamond acreage in Finland would be worth to anyone wanting to buy it though. Any guesses?


http://www.conroydiamondsandgold.com/

Found this post on ADV ** a good summing up at were we are now.

Granada7 - 5 Jan'11 - 14:19 - 2599 of 2638

scott

the facts are:

1. there is a target price of 16p on the stock
2. There is a distressed seller
3. 140m has been the volume in two days when normal volume is 4m
4. Test results are due out anytime

so to me whether it goes up or down is irrelevant, fact is this will be much higher come time.

Article contents from UK Analyst pasted below for info:

"AIM listed Conroy Diamonds and Gold, the Ireland based Gold exploration company found itself hit by a bout of Gold rush speculation at the end of September 2010 which saw the shares jump from 6p to 12.75p. The share price movement was in anticipation of further step out drilling results from the company's hugely prospective Clay Lake license following on from the positive news reported to the market on 29 July 2010. The anticipated results were announced on 11 October 2010 when the company reported that 13 zones of mineralisation had now been identified. All 7 of the holes drilled to date have now reported the presence of Gold with varying grades, notably (as of the last announced drill results) 14 metres of 0.72 g/t, including 2 metres of 1.72 g/t, having been intersected in the north western corner of the Clay Lake Gold target in Co. Armagh. Results of Silver mineralisation were also reported. To date the Clay Lake drilling targets have been confined to only a small area of the large license. The area is the same location where the famous Clay Lake 28g Gold nugget was found during the 1980s which is now housed in the Ulster Museum. The most recent drill results however imply the presence of a broad zone of mineralisation arguably more prospective than the already recorded JORC compliant resource at the company's Clontibret target, 7km away (this is also based on only of the license area).

The news saw the price peak at 12.75p but subsequently following the results, profits taking and a large placing at 6p has led to the share price returning to around the level it was resting at prior to the anticipated Clay Lake results. We are already a large shareholder in the company but took the opportunity to add to our holdings recently, taking advantage of the drop in price. Over the past months price of the shares has remained more or less static around the 6p mark. There seems to be one major seller of the shares which we believe to be Kenglo One Ltd which owned, as of 30 May 2010, over 26% of the company (although it will have been diluted due to the placing announced on 28 October 2010). Our reasoning behind why we envisage Kenglo as the main seller (most likely retaining a proportion of profit, having invested at a lower level), creating the stock overhang, is that the majority of the other large shareholders are all management, or friends of the company and, one, would be unlikely to sell at such a transitional point for the company, and two, would no doubt have to disclose the fact the disposal had been made. In light of this, and the fact that almost 20% of the current share capital has recently been raised at 6p, through the issue of 40,000,000 new shares for a total of 2.4 million before expenses, we see this as the bottom.

At 6.125p Conroy is capitalised at 14 million. Moving away from the most recent focus of the Clay Lake target, January 2011 is the month that will see the release of the important scoping study stage results for the Clontibret target which houses the company's 1m+ JORC compliant resource. The company is expected to detail a preliminary mine plan along with detailed news in regards to the potential progression towards the prefeasibility and feasibility stages. We are expecting to have positive news flow towards the end of the month and as such are content to hold our position in expectation of a spring re-rating. "

Aldwick tks for info we would expect an improvement in the sp as CDG release more information on their 2011 development plans. With the price of gold where it is even mining in Ireland must be profitable, but don't forget the zinc discovery.

A little profit taking at the open but now on track again

Ald is the distressed seller out of the way yet?