IN BRIEF: Conroy Gold stock surges on liability restructuring deal
Conroy Gold & Natural Resources PLC - Ireland and Finland-focused gold exploration and development company - Signs agreement "with certain past and current directors" to restructure amounts owed to them into an entitlement. Conrad says 20% of the money owed has been written off, and the remaining 80% will be deferred for four years. After this, repayments will come from commercial production from licence areas in the Orlock Bridge or Skullmartin gold trends, through a net smelter agreement at a rate of 2%. Company also proposes to issue participants with 8.1 million seven-year share options at a 30p exercise price. Says agreement has been signed by directors accounting for EUR3.4 million, out of approximately EUR3.5 million in overall liabilities through salaries and directors fees accrued since the year ended May 31, 2012. Read More