JOHANNESBURG (miningweekly.com) – Aim- and ESM-listed Conroy Gold and Natural Resources has conditionally raised €210 000, prior to expenses, to advance its gold assets in Ireland.
The capital is raised through a subscription for 700 000 ordinary shares of €0.001 in the capital of the company at €0.30 a subscription share.
The company’s primary focus is on its licences in Ireland, which are located in the Longford-Down Massif. The company has discovered a 65 m gold trend and is targeting a multi-ounce gold resource in the 345 ha Clay Lake-Clontibret district, in county Monaghan.
Conroy said on Friday it would use the proceeds of the subscription to fund the advancement of the Clontibret deposit and for increased exploration at the Clay Lake deposit. Additional exploration would be focused on the Slieve Glah gold prospect, in county Cavan, and other targets within the 50 km Armagh-Monaghan-Cavan gold belt and for working capital generally.