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Conroy Gold says JV talks with Turkey's Demir Export at advanced stage

Published: 07:36 01 Sep 2021 BST

Conroy Gold and Natural Resources PLC -

Conroy Gold and Natural Resources PLC (AIM:CGNR, FRA:FKV1) said definitive agreements for a proposed joint venture with Turkish conglomerate Demir Export AS have reached an advanced stage.

Under the joint venture, called Project Inis, Demir will fund and develop, on an earn-in basis, Conroy’s gold deposit within the Clontibret licence in Ireland to construction ready status and bring it into operation as a gold mine.

The parties further aim is for Demir to fund and develop the other licences held by Conroy one after the other.

Conroy, which announced the joint venture in February, will hold an extraordinary general meeting to seek shareholder approval once the joint-venture documentation has been completed.

READ: Conroy Gold agrees Clontibret partnership with Turkish powerhouse Demir Export

“Demir Export has the mining expertise and the financial resources not only to bring the Clontibret gold deposit to construction ready status and into operation as a mine, but also to advance the significant gold potential of the other licences along the gold trend to the same status,” said Conroy chairman Professor Richard Conroy.

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