During the period the company continued with development work on its extensive gold exploration ground in Ireland, and, after the period end, it signed a joint venture heads of terms agreement with Anglo Asian Mining (LOM:AAZ).
“Work continued throughout the year on the 65-kilometre district-scale gold trend which the company has discovered,” said chairman Professor Richard Conroy in the group's final results statement released after the London market close on Monday.
“The excellent technical results were enhanced by the signing, in July, of heads of terms for a joint venture. We look forward to finalising joint venture arrangements and to developing our first mine, and to further successful exploration on our other licences in Ireland and Finland,” he added.
The company has consistently seen new money coming into its coffers during the second half of the year, following the exercise of several tranches of warrants.