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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Connemara | LSE:CON | London | Ordinary Share | IE00B2357X72 | ORD EUR0.01 |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 1.15 | 1.10 | 1.20 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMCON
RNS Number : 5206F
Connemara Mining Company plc
28 July 2016
28(th) July 2016
Connemara Mining Company plc ("Connemara")
Highlights of the Chairman's Statement to the AGM of
Connemara Mining Plc held In Dublin at 10am July 28(th) 2016
Ø The gold price at EUR1,300 plus an ounce and a zinc price of $2,200 plus a tonne have recovered significantly and offer profitable exploration opportunities.
Ø Connemara holds 32 gold and zinc licences in Ireland and has expressed interest in additional ground.
Ø The focus of activity is the Inishowen area where a gold drilling programme has recently concluded. Results of two holes were reported this week identifying a potential new gold system.
Ø Results for the remaining two holes will be available within weeks. It is very early days in the exploration campaign so caution is advised.
Ø Our second gold focus is the Hendricks joint venture on 5 licences in the Wicklow/Wexford area. We are hopeful that funds are forthcoming to drill two areas, Knocknaloor and Tombreen, where earlier drilling discovered high gold grades.
Ø The rising zinc price should encourage exploration on our two zinc joint ventures, Oldcastle in Meath and Stonepark in Limerick both operated by Teck Resources, a Canadian based mining multinational. The Irish subsidiary of Teck does not have a drilling budget for our ground though they are maintaining the licences in good standing.
Ø We have surrendered three zinc licences in the Tipperary area while expressing an interest in new ground.
All resolutions were duly passed at the meeting.
This announcement contains inside information for the purposes of Article 7 of Regulation 596/2014.
Enquiries:
Connemara Mining Company Plc John Teeling, Chairman +353 1 833 2833 Jim Finn, Director Northland Capital Partners Limited William Vandyk/Gerry +44 (0) 20 3861 Beaney 6625 John Howes Dowgate Capital Stockbrokers Limited Jason Robertson +44 (0) 1293 517744 +44 (0) 20 7138 Blytheweigh 3204 +44 (0) 7816 924 Tim Blythe 626 +44 (0) 7817 841 Camilla Horsfall 793 +44 (0) 7831 851 Nick Elwes 855 Rachael Brooks PSG Plus Colm Heatley +353 1 661 4055 Alan Tyrrell +353 1 661 4055
www.connemaramining.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
AGMGCGDRSUDBGLI
(END) Dow Jones Newswires
July 28, 2016 05:56 ET (09:56 GMT)
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