Gold mine value boost for Conroy

Irish mining companyConroy Gold and Natural Resources has announced a near 20% increase in estimated total resources at its Co Monaghan-based gold project at Clontibret to over 600,000 ounces.

The figure comes from an updated resources and evaluation study carried out by international consultants, Tetra Tech, with Conroy saying the results have “transformed” the economics of the project.

“The results transformed the ‘mine economics’ with in excess of a 100% increase in contained gold, a substantial increase in gold production, a reduction in operating costs, an increase in mine life to over 11 years, and a two-year pay-back period,” said chairman Richard Conroy.