Connemara Mining reduces losses

Connemara Mining, the Irish precious metals exploration company, has reduced its operating losses for the period ended June 30, 2012 to €178,000 from €198,000 compared to the same period last year, according to the company’s Interim Statement.

Chairman John Teeling said: "It is not easy or fashionable to be an explorer in an economic recession. When the recession is as deep and long lasting as the world is currently experiencing the task is even greater. Investing money in high risk, long-term projects is of little interest to investors.