Considering the amount of activity that the company undertook during the period, the relatively low losses speak of a company that is husbanding its resources well.
Among the highlights were the establishment of a high-grade maiden resource estimate at the Stonepark zinc joint venture, as well as active exploration and significant progress across four projects.
The cash in the bank will now see Connemara through its budgeted activities and joint venture commitments until 2019.
Chief executive Patrick Cullen said that the company expects “a steady flow of drilling and other assay results over the coming months”.
Work continues across several projects.
“We are working on an updated exploration model at the Mine River gold project,” said Cullen.
“Field mapping and sampling at the Inishowen Gold Project in the Dalradian rocks of Donegal has revealed fresh exposures in the Cloncha area with visible copper-bearing malachite. At the Oldcastle zinc project, Teck Ireland Ltd. has completed two drill holes and is currently drilling a third hole which is due to be completed later this month.
Elsewhere, fellow zinc junior Group Eleven Resources (CVE:ZNG) is re-evaluating seismic and drill data on the Stonepark zinc project.
The resource estimate established earlier this year at Stonepark showed ran to a grade of 11.3% lead and zinc combined and is open eastwards in the Stonepark North area.
More drilling is planned.