Proactive Investors - Run By Investors For Investors

Connemara Mining raises £230,000 to help fund exploration activities at Mine River gold project

Chief executive Patrick Cullen, finance director James Bill and non-executive director David Cockbill all took part in the fundraise
wicklow, ireland
Mine River is located on the border of Wicklow and Wexford, about 50 miles south of Dublin

Irish gold explorer Connemara Mining Company PLC (LON:CON) has raised £230,000 to help support ongoing exploration activities at its Mine River gold project in County Wexford.

Chief executive Patrick Cullen, finance director James Bill and non-executive director David Cockbill all put their hands in their pockets, buying a combined £25,000 worth of shares.

READ: Drilling on schedule at Connemara’s Stonepark zinc project

In total, 18.4mln new shares were issued to directors and other existing shareholders at 1.25p each.

For each share subscribed, investors received one warrant which can be exercised at a price of 1.8p at any time before 11 September 2020.

Connemara said it would provide more details at next week’s general meeting when it will propose changing its name to Arkle Resources PLC.

Shares rose 3.2% to 1.29p on Tuesday afternoon.

View full ARK profile View Profile

Arkle Resources PLC Timeline

Related Articles

1547220106_zinc.jpg
January 10 2019
Just before Christmas, the Vancouver based metals firm said drilling will begin at Kilmurry during the first quarter once permits are received
1540897348_zinc-periodic-3.jpg
October 30 2018
Exploration upside on Connemara's Irish portfolio remains significant
1540372714_Erris---on-site.jpg
October 24 2018
Recent drilling success in Ireland has laid the foundations for further progress

© Proactive Investors 2019

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use