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Conroy Diamonds & Gold
- BY: Andrew Hore |
- POSTED: 25/02/2010 |
Irish gold explorer Conroy Diamonds & Gold reported a reduced first half loss and it has commissioned a scoping study for its Clontibret prospect.
Conroy has no revenues and the loss reduced from €202,000 to €183,000 in the six months to November 2009. Capitalised exploration spending rose from €407,000 to €430,000.
Wardrop Engineering has started a scoping study at Clontibret. This will determine whether a JORC-compliant resource of just over 1m ounces of gold is enough to support a profitable mining project. Conroy has also discovered zinc at Clontibret.
Conroy raised €830,000 in the six month period and chairman Professor Conroy converted €325,000 of loans into shares. There was €413,000 in the bank at the end of November 2009. The figures do not break down the creditors.
Shares in Conroy started trading on Irish Aim equivalent IEX at the end of 2009.
At 4.875p a share, Conroy is valued at £6.96m.
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