The directors of a Dublin-based mineral exploration company have repeatedly failed to file annual returns over a three-year period and the firm is effectively insolvent, the High Court has heard.

SHARES in Minmet Plc, the Dublin-based natural resources company, plunged 16% after saying it will cease pit mining at a site in northern Sweden.

Gold mining company Minmet plc has raised over US$1.5 million (€1.2 million) from a share placing with institutional and private investors in London and Dublin.

ISEQ-listed gold mining and exploration company MinMet plc has signed an agreement with Gold Fields Latin America