Conroy Gold reports good progress from Monaghan mine

Monday 03 February 2014 12.46
Conroy Gold & Natural Resources plans to develop a gold mine at Clontibret in Co Monaghan
Conroy Gold & Natural Resources plans to develop a gold mine at Clontibret in Co Monaghan

Exploration firm Conroy Gold and Natural Resources has reported an after-tax loss of €131,527 for the six months to the end of November, down from the loss of €197,683 reported the same time the previous year. 

Conroy, which is planning to develop a gold mine at Clontibret in Co Monaghan, said its net assets at the end of November stood at €13,224,751, up from €12,555,277 the same time in 2012.

During the six month period, the company raised €1m through an equity subscription and debt issued. 

Conroy's chairman Professor Richard Conroy said the six month period was a period of "further significant progress" for the company, during which the viability of the proposed mine at Clontibret was confirmed.

He also said that "excellent results" were reported from the company's gold and base metal exploration targets.

Professor Conroy said the company "looks forward to continued progress with its planned gold mine at Clontibret and its ongoing exploration programme for gold and base metals".