Exploration company Conroy Diamonds & Gold has announced plans to raise £1.8m to accelerate its programme of development at its gold prospects in counties Monaghan and Armagh.
The money will be raised mainly through a placing of almost 26 million new shares at a price of 6p. In addition, chairman Professor Richard Conroy has converted loans worth £600,000 into shares.
After the moves, Professor Conroy will hold around 21.9% of the company.
The company also reported a loss of almost €300,000 for the year to the end of May, broadly in line with the previous year.
