Conroy on the hunt for partner

Mineral propsector Conroy Gold and Natural Resources is hopeful of attracting a development partner, as part of an equal share joint-venture, to fully develop its planned gold mine at Clontibret in Co Monaghan.

Speaking at the company’s AGM in Dublin yesterday, chairman Professor Richard Conroy said that management has run an “extremely successful” operation to date by identifying a 30-mile gold trend along the border counties and spending only around £16m (€20m) in the process.

But, he added, that the board is not prepared to dilute shareholder interests, via a rights issue, in order to raise the €25m-€30m in development costs needed to bring Clontibret to production and would view a joint-venture as a preferred option.