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Connemara shares surge as it tells investors it's well poised for future

Connemara Mining (LON:CON) shares surged over 15% on Wednesday as the firm, which holds interests in 35 exploration licences in Ireland, posted final results. The gold, lead and zinc firm, which has joint ventures with Canadian Teck and Hendricks, said it was financially secure, having raised funds last year.
Connemara shares surge as it tells investors it's well poised for future
Connemara Mining (LON:CON) shares surged over 15% on Wednesday as the firm, which holds interests in 35 exploration licences in Ireland, posted final results

Connemara Mining (LON:CON) shares surged over 15% on Wednesday as the firm, which holds interests in 35 exploration licences in Ireland, posted final results.

The gold, lead and zinc firm, which has joint ventures with Canadian Teck and Hendricks, said it was financially secure, having raised funds last year.

Shares surged 30% last month as it posted encouraging initial results from its Inishowen gold licences in Donegal.

Chairman John Teeling said: "The business environment is looking better. 

"Zinc in particular has sound fundamentals with a supply shortages expected for the next few years.  Mines are not found in offices so on the ground exploration is needed.  We hope that Teck will either work the ground they have or pass it to another who will."

Connemara ended 2014 with £384,848 in cash (2013:£64,912) and the pre-tax loss was £308,292 (2013: Loss of £348,199).
Shares added 15.38% to stand at 1.875p.

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