Conroy Gold’s loss dips slightly

CONROY Diamonds & Gold, the Irish gold and mineral resources exploration company, has reported an annual pre-tax loss of €290,445 for the 12 months to end of May, marginally down on the €298,119 loss in the previous year.

The Dublin-based company — whose main interests are two gold projects along the border in Co Monaghan and Co Armagh — also saw its loss per share figure fall from 25c to 21c.

The London and Dublin-listed explorer also raised over €3 million in fresh funds during the financial year, and yesterday announced the raising of a further £1.8m (€2.06m), via the placing of a further 25.83m ordinary shares.

Proceeds from the placing will go towards the funding of Conroy’s ongoing development programmes at its Clontibret and Clay Lake gold targets, as well as boosting its working capital.

Conroy is also looking to change its name, slightly, to Conroy Gold and Natural Resources — given that its gold and zinc interests have taken over the company’s focus and it no longer has any diamond interests.

Accordingly, shareholders will have a chance to vote on this issue at next month’s annual general meeting.