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Conroy Gold & Natural Resources PLC - Dublin-headquartered gold exploration company focused on Ireland and Finland - Raises GBP400,000 through issue of 3.0 million shares at 13.5 pence per share. Admission of the shares to trading on AIM expected on or around Friday. Conroy Gold says proceeds will be used both for general working capital purposes, and to accelerate exploration programmes not covered by its joint venture agreement with Ankara, Turkey-based miner Demir Export A. Agreement was completed in April last year to develop the Clontibret licence gold deposit.
Chair Richard Conroy says: "I am very pleased with this fundraising. Exploration expenditures, over EUR4.5 million in Phase 1 alone, are covered by the joint venture agreement...to explore and develop the district scale gold trend discovered by the company in Ireland. The company has, however, other exploration interests...which, for relatively low expenditures, could potentially yield highly interesting results for [Conroy Gold]."
Current stock price: 15.09p, up 1.5% in London on Tuesday
12-month change: down 47%
By Emma Curzon, Alliance News reporter
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