LONDON (Alliance News) - Minerals exploration and development company Minco PLC on Friday said it has been granted three new prospecting licences in Ireland, sending its shares higher in early trade.
The group has been awarded the 1228, 1229 and 3981 licences in Moate in County Westmeath. The licences cover a geological target with the potential for zinc-lead mineralisation. Each licence will be granted for six years from November 3.
"This is a very specific geological target which Minco has developed and we have been waiting patiently for these licences to come open for some years," said Peter Tyler, the company's chief geologist.
Minco shares were up 13% to 0.82 pence on Friday morning, one of the best performers in the AIM All-Share.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
Copyright 2015 Alliance News Limited. All Rights Reserved.
