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CGNR Conroy Gold & Natural Resources Plc

11.25
0.00 (0.00%)
19 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Conroy Gold & Natural Resources Plc LSE:CGNR London Ordinary Share IE00BZ4BTZ13 ORD EUR0.001 (CDI)
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 11.25 11.00 11.50 0.00 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Gold Ores 257k -363k -0.0081 -13.89 5.04M

Conroy Gold & Natural Resources Plc Completion of Joint Venture Agreement

31/03/2022 11:15am

UK Regulatory


 
TIDMCGNR 
 
The information contained within this announcement is deemed by the Company to 
 constitute inside information for the purposes of Regulation 11 of the Market 
Abuse (Amendment) (EU Exit) Regulations 2019/310. Upon the publication of this 
 announcement via a Regulatory Information Service, this inside information is 
                  now considered to be in the public domain. 
 
 
 
              31 March 2022 
 
                 Conroy Gold and Natural Resources plc 
 
                       ("Conroy Gold" or the "Company") 
 
                     COMPLETION OF JOINT VENTURE AGREEMENT 
 
  * Joint Venture Agreement between Conroy Gold and Demir Export completed 
  * All outstanding conditions met 
  * Payment of ?1 Million made to Conroy Gold 
  * Work programme commenced 
 
Conroy Gold and Natural Resources PLC (AIM: CGNR), the gold exploration and 
development company focused on Ireland and Finland, is pleased to announce 
completion of the Joint Venture Agreement (the "JV"), with Demir Export A.? (" 
Demir Export"), all outstanding conditions having been met and a payment of ?1 
million made to Conroy Gold. 
 
In addition to the development of the gold deposit in the Clontibret Licence to 
construction ready status and then bringing it into production as a gold mine, 
the JV's aim is to take the Clay Lake gold target and other targets within the 
Mines Royal Options/Northern Ireland Licences, and the other Licences held by 
the JV, to construction ready status. 
 
In the first phase of the earn in period of the JV, Demir Export is expending ? 
4.5 million in work commitments (excluding Demir Export in-house costs, 
Operator fees and Minimum Regulatory Work Commitments) to earn-in a 25% option 
in the project. This work programme commenced in January 2022 and a 3,000 metre 
drilling programme is planned to begin in the second half of April 2022. 
 
Full details of the JV can be found in the EGM circular available on the 
Company's website (www.conroygold.com) and the material aspects are contained 
in the announcement of 30 November 2021. 
 
Professor Richard Conroy, Chairman, commented: 
 
"I am very pleased that the Joint Venture Agreement with Demir Export has been 
completed. 
 
My colleagues and I are enjoying working with the Demir Export team and look 
forward to building a long term, successful relationship and not only bringing 
the Clontibret gold deposit to construction ready status and into operation as 
a mine, but also simultaneously advancing the Clay Lake gold target in Northern 
Ireland and other targets on the district scale gold trend in the Longford-Down 
Massif." 
 
For further information please contact: 
 
Conroy Gold and Natural Resources PLC              Tel: +353-1-479-6180 
 
Professor Richard Conroy, Chairman 
 
                                                   Tel: +44-20-3328-5656 
Allenby Capital Limited (Nomad) 
 
 
Nick Athanas/Nick Harriss 
 
First Equity Limited (Broker)                      Tel: +44-20-7330-1883 
 
 
Jason Robertson 
 
Lothbury Financial Services                        Tel: +44-20-3290-0707 
 
Michael Padley 
 
Hall Communications                                Tel: +353-1-660-9377 
 
Don Hall 
 
www.conroygold.com 
 
 
 
 
 
 
END 
 
 

(END) Dow Jones Newswires

March 31, 2022 06:15 ET (10:15 GMT)

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