Highlights of the Chairman's Statement from AGM

RNS Number : 5206F
Connemara Mining Company plc
28 July 2016
 

28th July 2016

 


 

Connemara Mining Company plc ("Connemara")

 

Highlights of the Chairman's Statement to the AGM of

Connemara Mining Plc held In Dublin at 10am July 28th 2016

 

 

Ø  The gold price at €1,300 plus an ounce and a zinc price of $2,200 plus a tonne have recovered significantly and offer profitable exploration opportunities.

Ø  Connemara holds 32 gold and zinc licences in Ireland and has expressed interest in additional ground.

Ø  The focus of activity is the Inishowen area where a gold drilling programme has recently concluded.  Results of two holes were reported this week identifying a potential new gold system.

Ø  Results for the remaining two holes will be available within weeks.  It is very early days in the exploration campaign so caution is advised.

Ø  Our second gold focus is the Hendricks joint venture on 5 licences in the Wicklow/Wexford area.  We are hopeful that funds are forthcoming to drill two areas, Knocknaloor and Tombreen, where earlier drilling discovered high gold grades.

Ø  The rising zinc price should encourage exploration on our two zinc joint ventures, Oldcastle in Meath and Stonepark in Limerick both operated by Teck Resources, a Canadian based mining multinational.  The Irish subsidiary of Teck does not have a drilling budget for our ground though they are maintaining the licences in good standing.

Ø  We have surrendered three zinc licences in the Tipperary area while expressing an interest in new ground.

 

All resolutions were duly passed at the meeting.

 

 

This announcement contains inside information for the purposes of Article 7 of Regulation 596/2014.

 

 



 

Enquiries:

 

Connemara Mining Company Plc


John Teeling, Chairman

+353 1 833 2833

Jim Finn, Director


Northland Capital Partners Limited


William Vandyk/Gerry Beaney

+44 (0) 20 3861 6625

John Howes


Dowgate Capital Stockbrokers Limited


Jason Robertson

+44 (0) 1293 517744

Blytheweigh

+44 (0) 20 7138 3204

Tim Blythe

+44 (0) 7816 924 626

Camilla Horsfall

+44 (0) 7817 841 793

Nick Elwes

+44 (0) 7831 851 855

Rachael Brooks


PSG Plus


Colm Heatley

+353 1 661 4055

Alan Tyrrell

+353 1 661 4055

 

www.connemaramining.com

 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
AGMGCGDRSUDBGLI
UK 100

Latest directors dealings