Conroy Gold & Natural Resources, which is aiming to develop a gold mine in County Monaghan, has reported a pre-tax loss of just under €428,000 for the year to the end of May.
Chairman Professor Richard Conroy said positive studies from its Clontibret project had shown that a mine was viable.
The company now plans feasibility studies, to be followed by planning and mining applications.
Conroy says global gold production has declined in recent years, while demand has grown. "This excess of demand over supply is a very important development which augurs well for your company's future as it moves towards becoming a gold producer," the company says.
The company also says it believes Conroy's share price has yet to reflect the value of its underlying assets.
