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Conroy Gold receives final remaining amount from February placing

The proceeds will be used to support exploration work

Conroy Gold and Natural Resources -

Conroy Gold and Natural Resources PLC (LON:CGNR) has successfully completed its £302,500 fundraising. 

After broker Brandon Hill carried out the placing on 21 February, on Friday the final outstanding £100,000 was received.

Conroy said it is currently planning its fieldwork programme, inlcuding drilling, and preparing to resume work on site in Ireland when coronavirus restrictions are lifted.

“The primary emphasis in the drilling programme will be on infill drilling of the company’s Clontibret gold deposit, to convert inferred resources into indicated resources and to increase the overall resource,” the company said.

The AIM-listed company’s first mine is being developed on a gold trend it discovered at Clontibret, Clay Lake and Glenish, which are located along the Orlock Bridge fault in northeastern Ireland.

Conroy said it is also in continuing discussions “with a view to agreeing a joint venture partnership with a suitable industry partner for exploration and development of its licences in the Longford–Down Massif”.

Quick facts: Conroy Gold and Natural Resources

Price: 11 GBX

AIM:CGNR
Market: AIM
Market Cap: £2.88 m
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Conroy Gold looking at 'substantial gold volumes' from its Clontibret...

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