Connemara Share Discussion Threads

[ruthie] 28/6/2017 10:32

Spotted this announcement that just came out....

"Connemara Mining Company plc (or “the Company”) has received notification that Paul and Michelle Johnson have a beneficial interest in 6,295,000 ordinary shares of 1 cent each, representing 8.31% of the Company’s issued share capital with voting rights."

[itsmyshares] 28/6/2017 10:08

Looks like 1p is on the cards then.

[itsmyshares] 28/6/2017 08:33

Disapointing results. I have sold out as this is far too long term for me.

[cpap man] 28/6/2017 07:50

Statement Accompanying the Final Results



Connemara is an Irish focused zinc and gold explorer with 35 licences spread across Ireland. We have three joint ventures where we brought in partners with funds and technology. Or so we hoped. Two of the joint ventures are in zinc with Teck Resources, one of the world's greatest zinc companies. Losses in areas other than zinc have ravaged the share price of Teck. Exploration budgets were slashed to virtually nothing. In recent years Teck have done little on our joint venture licences apart from keeping them in good standing. I believe that the coming months will see developments in the joint ventures.



Hendrick Resources, a private Canadian gold prospector, joint ventured five gold licences in Wicklow/Wexford. They did some excellent work identifying high potential targets. Finance for small gold exploration companies in Canada has been virtually non-existent for the past five years. The promoter has struggled to raise funds while also battling ill health. Once again sufficient work has been done to keep our licences in good standing.



Zinc has doubled in price in the past 18 months and I believe it has further to go. Gold above $1,200 an ounce means that every 1 gram a ton is worth $40. These prices make most producers profitable and should incentivise explorers and early stage investors into exploration shares.



There has been a dramatic revival of interest, particularly from Canada, in Irish zinc exploration with up to seven new companies entering the sector. The announcement by Boliden, the owner of the Tara zinc mine at Navan in Meath, that they have identified an additional orebody on the property which will extend the commercial mine life by years has boosted interest. It is thought that the use of 3D seismic techniques, prevalent in oil exploration but rare until now in Irish zinc/lead exploration, identified the structure at depth.



For many years the flagship Irish zinc exploration project has been at Pallas Green in Limerick, where Glencore the licence holder has identified 42 million tons of ore at a combined grade of 8% zinc/lead. In recent years little or no exploration has been done on the property. But it is now reported that eight drilling rigs are working on the site with a target of 22,000 metres of drilling.



The first Connemara/Teck joint venture is in Stonepark in Limerick, a few hundred metres from the Pallas Green discovery. The excitement of the early years when three good zinc bearing zones were discovered has given way to care and maintenance. This is not a good position for a junior explorer like Connemara which needs news and excitement. Teck are operator and control over 76% of the joint venture. We believe there is interest in acquiring Teck's share of the joint venture and we would be more than pleased to support any sale. Such a sale would be positive for Connemara as we would like to see new eyes evaluate the potential on the Stonepark block.



The second joint venture with Teck is five licences in the Oldcastle area straddling the Meath/Cavan border. This area has historical zinc/lead discoveries. Our block is 30 km west of the Tara mine. The target is a large ore body at depth. Teck holds many licences in the midland area of Ireland and they appear to be following a regional model in which the geology of Oldcastle plays a part. Teck are earning into the block so Connemara has no expenditure at present. In 2016, Teck drilled one deep hole on the block with disappointing results. We do not believe that one hole is enough, however such holes are expensive, costing up to €100,000 each. Further drilling which is our preferred option will mean that Teck will earn into their 75% holding. After which, like in Stonepark, Connemara will either fund its share or dilute.



We like zinc and believe that Ireland is the best zinc prospecting province in the world. The geology is good, title is secure, skills are available and licencing terms are reasonable. We have continued to monitor available ground and in the past year have added seven new licences. Five new prospecting licences have been acquired in the Derrykearn area of Laois. The properties lie along the Rathdowney Trend not far from the closed Galmoy and Lisheen zinc/lead mines. Two historic mines, Tonduff and Derrykearn, are on the licences. The best place to find a mine is where there is or was a mine. Exploration technology is evolving rapidly so we believe that new eyes casting a critical look at the geology of Derrykearn may reveal new targets.



The two Ladyswell licences in Cork cover an area containing a former barite mine. Barite is found in association with base metals. Little historic exploration has been carried out on the ground. Some early stage prospecting will take place this year.





Gold

We have two distinct gold exploration programmes - our 100% owned licence block in Donegal where we are active and our joint venture with Hendrick in Wicklow/Wexford which is effectively on care and maintenance.



The Inishowen block in Donegal now covers 187 km2 in eleven licences. We drilled four holes in 2016 with positive results including 4.82 metres at 5.48 grams/tonne of gold.



We also explored the old Glentogher silver mine approximately 4 km away from our discoveries to see if we could connect the two. We failed to find significant gold grades. Analysis of the geophysics over the area suggest additional veins and has identified two magnetic anomalies about 1 km north of the earlier drilling. We are examining a drilling proposal for later in 2017.



Gold in Wicklow/Wexford has been the subject of lore, fable and frustration since first discovered in Avoca in 1796. Over the decades many companies have prospected and explored to try to find the hard rock source for the gold found in the rivers and streams in the area.



Connemara personnel have long experience in the area. We believe that we hold five of the best licences. This view was supported by the decision of Hendrick Resources to acquire the licences surrounding our block and to joint venture our block. Extensive work by Hendrick revealed numerous drilling targets on Connemara ground. Then the recession hit, money dried up and the principal, Dale Hendrick, a renowned gold explorer, had health issues. The joint venture is in limbo. Because of the skills, experience and technology in Hendrick we are reluctant to walk away. We are in discussions with the principals in order to seek a resolution.









Future

A rising tide lifts all ships. So it is with Connemara. Better zinc prices, renewed exploration actively in Ireland and the arrival of new explorers is good for Connemara. We would be pleased for Teck to drill both joint ventures Stonepark and Oldcastle. But that does not look likely for Stonepark. We would support any transfer of the Teck interest to a new explorer willing to invest in the property. Though the pace of exploration in Oldcastle is excruciatingly slow we are not spending any money and won't for some time. Given the prospectivity and potential of Oldcastle a new partner with more commitment and deeper pockets would be our preferred way forward.



We believe that our new ground in Derrykearn and Ladyswell has excellent potential. We will prospect the ground and then seek to bring in a partner. Our overhead and joint venture partner spending is low so we spend very little money to do the exploration work. But our partners are not spending on the ground. We would like this rectified. We have funded the company on a shoestring and will continue to do so.











John Teeling

Chairman

27th June 2017

[x54v] 13/6/2017 16:49

Paul Johnson has been adding to his stake. Gone up from 5.08% to 7.22%:

[fenners66] 30/5/2017 09:33

How about no discoveries and no track record, despite spending millions; Con has to be expensive.

[fiachra] 29/5/2017 16:48

Unicorns are rare.

[ruthie] 29/5/2017 15:04

If Unicorn are valued at 7 million Canadian with no discoveries; Connemara have to be cheap

[nateroyd] 28/5/2017 19:35

Looks interesting £47826.09 buys on Tuesday?Are we going up ?Is it time for a move hrmmm.......

[fenners66] 27/4/2017 20:43

Down 10.8% today, market took the new license news well then!

[fenners66] 26/4/2017 08:37

This is getting SO PREDICTABLE , rinse and repeat , good news is that I can just repeat the previous comments.......






10 Feb '17 - 11:49 - 1825 of 1838 3 1 Edit
This going down because they found no gold? Directors better do something then.
My guess would another fantastic new project - soooo much better than the last one, after all that's what always happens



31 Mar '17 - 08:34 - 1828 of 1838 2 0 Edit
So another "potential" . Another new direction (or great white hope) as if the Clontarf set-up has not already got enough distractions.

Interesting that they start by saying that one of these prospects was not economic - nice to get that out day 1.

It seems that usually when they start to tell us about the next new prospect it follows that the last one gets written off to zero and abandoned. Will this be any different?

1350sqkm to cover with 1 man and his dog and a university student .......

[cpap man] 26/4/2017 07:33

RNS out from CON this morning....



Connemara Mining Company plc ("Connemara")

Focus on Inishowen Gold Prospect





The board of Connemara Mining (AIM: CON) is pleased to announce the award of 6 additional prospecting licences on the Inishowen Peninsula in Donegal. The new ground covers 229 sq km adjoining the 5 licence block on which Connemara intercepted 4.82 m grading 5.48 g/t gold in 2016. The 11 licences cover the entire Green Bed Member of the Dalradian geological sequence on the peninsula which is considered by Connemara geologists to be highly prospective.



Connemara applied for the ground when modelling of the 2016 drilling results indicated that the gold bearing veins may stretch into the adjoining areas. It is expected that additional drilling will take place in Q2 2017.



Connemara has relinquished ground in Donegal to focus attention and resources on Inishowen. The Raphoe block of 10 licences was explored and while gold traces were discovered in soil and stream samples the consensus was that the Inishowen block holds greater potential for a commercial gold discovery.



John Teeling, Chairman, commented "Having analysed and reviewed the results of our 2016 drilling campaign we decided, as a matter of urgency, to apply for the ground adjoining our 5 licence block on the Inishowen Peninsula in county Donegal. We are delighted to have been awarded 6 additional licences on the peninsula. We believe that the mineralisation we discovered could extend into the new ground where historically gold has been noted in several streams.



Given the potential of the Inishowen block we have surrendered 10 licences in the south of Donegal. The results we obtained on this block were not of the same order as those found on Inishowen. We will now focus our efforts on the Inishowen block."





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

[prettybullish] 25/4/2017 21:10

Anyone any idea who this guy Paul Johnson is? 5% in this type of company is a decent shareholding. Must be something in the pipeline?

[ruthie] 19/4/2017 08:50

So, Munna rides again, wait for the call

[fenners66] 18/4/2017 17:37

What you are a Clontarf Press Officer?

[ruthie] 18/4/2017 16:18

Fenner, How right you are. I too am a long suffering holder of PET and CLON but I got a turn out of AFD and PAN. I was an early holder of CONN but sold when Hardy started his attacks. But zinc looks OK again.

Now my contact tells me you are part of a Newcastle gang. I’m not sure whether its Ireland or the UK.

[fenners66] 18/4/2017 10:55

Ruthie, I'm sure you have been reading my posts since you have only ever posted on Clontarf threads - almost as if your whole stock market interest was for Clontarf related companies. In fact your posts often read as if you were acting like a Clontarf Press Officer.

As for the nature of my posts, well if collecting and reporting facts garnered from the companies reports and press releases is negative then perhaps those tempted to invest should be taking notice of them.

[ruthie] 18/4/2017 10:23

Fenner, discussing the negative CONN and BOD posts on ADVFN with some old hands. They remembered you from PET in 2012. You were negative then also. Did the PET directors not identify you? If so they should go after you again.

[ember11] 14/4/2017 03:55

We shall see but so far looks promising.

[tomboyb] 13/4/2017 10:31

I see Paul J has gone above 3% here -

Good luck -

[fenners66] 31/3/2017 08:39

Ha ha , I just noticed my post above from 10th Feb - have I a crystal ball ? Or are they just getting very predictable?

No doubt someone will be having a go at me for being negative - or is it just realistic?