Connemara Share Discussion Threads

[soul limbo] 13/12/2015 11:52

Teeling gets a taste of his medicine :

Norish placing approved despite Teeling objections

Over 80pc of the votes were cast in favour of the plan, writes Gavin McLoughlin

Shareholders in Irish-founded cold storage company Norish have approved a £5.1m share placing by the company despite objections from veteran investor John Teeling.

SHARE
Over 80pc of votes cast were in favour of the placing, the proceeds of which, among other things, will be used to build out cold storage capacity and pursue a number of Irish dairy investments.

Teeling confirmed to the Sunday Independent that he had opposed the resolution but did not comment further. An Irish Times report last month said he had written to fellow shareholders saying it would be better to raise debt, and that the placing would dilute their holdings.

[soul limbo] 12/12/2015 12:37

From last week's Sunday Times :

He heads four listed exploration companies exploring for diamonds, gold and zinc, and has been struggling to raise money for six years. He can’t see any upturn in the demand for minerals in the near future.

Traditionally, commodity markets — particularly for oil — have crashed and then recovered in a typically V-shaped pattern, he said. Teeling doesn’t believe that will happen on this occasion.

“Instead of a V, this could be a dinner plate,” he said. “A dinner plate with a very long bottom, which will destroy us all.”

[liquid millionaire] 11/11/2015 09:00

Some very impressive high gold grade results reported this morning from Connemara Mining* (CON.L) on its Inishowen gold exploration licences in Ireland from trenching work. Market cap only £0.8m, at yesterday's closing mid price of 1.45p. Dowgate Capital maintains it's 'Buy' recommendation on the shares.

As previously highlighted by Dowgate Capital in its Morning Comment from 26/06/15;

"The ultimate goal at Inishowen will be to find a resource approaching the size and economic potential of the nearby high grade Curraghinalt deposit, containing 3.5m ounces of gold (Measured 0.15m @ 20.1 g/t gold, Indicated 0.99m @ 10.3 g/t and Inferred 2.49m @ 9.7 g/t –2014 NI 43-101 compliant) that is held by Dalradian Resources Inc. The thinking is that other large gold deposit discoveries could be made in a geological gold belt trend which is believed to stretch from Ireland through to Scotland. Indeed it must be remembered that Connemara’s licence area contains the former Glentogher lead/silver/zinc mine which was in production at various stages between 1790 and 1933."

*Dowgate Capital Stockbrokers acts as Joint Broker to Connemara Mining Company plc.



11th November 2015

Connemara Mining Company plc (“Connemara221;)
Trenching Results, Inishowen Gold Licences

Connemara Mining (AIM: CON) is pleased to announce the results of the trenching programme carried out on our ground at Inishowen, County Donegal. Trenching was conducted over the high gold grade soil samples obtained in July 2015. This was done in an attempt to identify a subsurface source of the anomalous quartz rock found scattered in the surrounding fields. Channel sampling of the exposed bedrock obtained good grades indicating 0.80m at 7.95g/t Gold and 1.1m at 1.78g/t Gold. This includes a 12cm vein at 30.1g/t, 10cm at 16.85g/t and 10cm at 10.45g/t Gold.

The veins were narrow, averaging 10 to 12cm wide; however such veins have been known to swell. Judging by the size of gold bearing boulders removed from the foundations of a nearby building it is possible that they could swell to as much as 80cm. In this geological environment it is normal that veins do not occur by themselves so multiple veins are expected to be found over the course of further exploration.

The next steps involve detailed mapping and prospecting over a 4-6 sq km area, expanding the soil sampling to see how far this gold anomaly extends and conducting further trenching. A shallow drill hole programme is being considered to generate information on dip and strike direction. The whole programme will commence in early 2016.

John Teeling, Chairman, commented “This is a very good result. It is rare to find high grade gold. Now we need to find out how big is the area containing the gold. We need more information on the extent of these veins as well as tracing their width. Based on boulders in the area we are confident that at least one vein will swell. The next phase will begin early in 2016.”


Connemara is a diversified exploration company with principal assets in gold, zinc and lead exploration licences in Ireland. The company holds interests in 35 licenses covering an area of approximately 1, 350 sq km.

This announcement has been reviewed and approved by Gavin Berkenheger (BSc. Hons) in his capacity as the Qualified Person for the purposes of the AIM Guidance Note for Mining, Oil and Gas Companies issued by the London Stock Exchange.






Best Regards,

Jason Robertson

Dowgate Capital Stockbrokers

[sallad3] 07/10/2015 18:30

www.thegazette.co.uk/notice/2411607

[ruthie] 10/9/2015 16:03

Someone believes

1.5m shares

[lordz] 24/8/2015 09:34

John Teeling is a well known person...just look at him when he got African Gold moving.

[xcap] 19/8/2015 11:05

award monies coming in?

and read across to Dalradian Resources (DNA) for potential here

[ruthie] 08/7/2015 11:53

We are all in the same boat

[currypasty] 06/7/2015 12:06

"Final judgement has been made on the sums due to Connemara from Trampus Ltd in relation to a failed court action. Payment is awaited. "


I wonder if he will pay up ?

[ruthie] 06/7/2015 09:18

Anyone going to the AGM today?

[currypasty] 26/6/2015 13:11

Gold Exploration Update from Inishowen

Connemara Mining announced this morning a further exploration update from its recently acquired gold prospective licence block at Inishowen, in Donegal, Ireland. The latest results with the discovery of quartz vein material that is just under 50cm wide with gold values of over 15 g/t has highlighted an evident target area requiring further investigation.

Comment

The latest results show the company is making solid, albeit early stage progress on exploring its five gold prospective licences that were obtained just over two months ago. One of the near term exploration objectives will be to repeat and improve upon the success of a previous licence holder in 2011, which discovered rock samples containing bonanza style size grades of up to 104 g/t gold. More importantly the company is looking to find the source area for the gold to establish an economic gold resource.

The ultimate goal at Inishowen will be to find a resource approaching the size and economic potential of the nearby high grade Curraghinalt deposit, containing 3.5m ounces of gold (Measured 0.15m @ 20.1 g/t gold, Indicated 0.99m @ 10.3 g/t and Inferred 2.49m @ 9.7 g/t –2014 NI 43-101 compliant) that is held by Dalradian Resources Inc. The thinking is that other large gold deposit discoveries could be made in a geological gold belt trend which is believed to stretch from Ireland through to Scotland. Indeed it must be remembered that Connemara’s licence area contains the former Glentogher lead/silver/zinc mine which was in production at various stages between 1790 and 1933.

The current market cap of £0.77m seems too low considering the gold exploration potential at

Inishowen, and other licences such as Connemara’s Hendrick JV gold prospective licences in Wicklow/Wexford. We believe the market is still incorrectly pricing the stock as a zinc/lead exploration play and has overlooked its new gold exploration tenements that could excite the market. Given the ultra low market cap, potential for more newsflow from Inishowen and well funded position of the Company, we continue to recommend Connemara Mining as a ‘Buy’.

*Dowgate Capital Stockbrokers acts as Joint Broker to Connemara Mining plc

[liquid millionaire] 26/6/2015 07:50

Connemara Mining Company plc ("Connemara")
Inishowen Exploration Update

Connemara Mining is pleased to announce the completion of the first phase of prospecting on the newly acquired Inishowen Block, in Donegal, Ireland. Initial results identified a clear target area for more detailed investigations. Quartz vein material (float) measuring nearly half a metre wide with gold values in excess of 15 grams per tonne have been traced to a possible nearby source area. Follow up work will include a tightly spaced soil sampling programme to further refine the target. This will be followed by an initial trenching programme and a later drilling programme, if justified.

Chairman, John Teeling commented: "This is an exciting time for Connemara, and Irish minerals exploration. The Ulster gold play was unlocked with previous discoveries in Tyrone and Monaghan. We believe that this geology extends from Donegal into central Scotland. It is early days but initial results seem to confirm our working model."

[caveat_emptor] 17/6/2015 11:00

Someone also took fright and sold heavy number,
at 1.12, but mm's still quoting 1.25 bid......

[rachmanninov] 12/6/2015 16:55

£1000 shares bought....knocks it up 10%.
Anyone who buys penny shares, including me,
needs a psychiatric examination.

They must have kicked over a few more boulders!!!