CONROY HOPES TO EXTRACT GOLD WORTH €700M IN CLONTIBRET

30 November 2012 No Comments by The Northern Standard

CONROY Gold and Natural Resources, the company seeking to recover up to 15 million ounces of gold along a 30-mile stretch in Cavan, Monaghan and Armagh, is seeking to raise substantial funding for a pilot mine it intends to initiate in the Clontibret area.
Company chairperson Richard Conroy said the first mine would be in Clontibret, for which it was hoping to raise €60 million to fund the first 20% of that area.
He stated that the Clontibret mine could yield up to 600,000 ounces, with the objective being to extract 50,000 ounces a year. The gold would be worth up to €700 million over the estimated 11-year lifespan of the Clontibret mine. The company would also be seeking further very substantial joint funding for other parts of the stretch across the three counties, Mr Conroy indicated.

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