3rd Jun 2015 07:10
LONDON (Alliance News) - Connemara Mining Co PLC Wednesday posted a slightly narrower pretax loss for 2014 and shares in the company rose after it said initial drilling results from the Inishowen area in Donegal had been positive.
Connemara said its pretax loss in 2014 was EUR308,292, compared with a EUR348,199 loss a year earlier, thanks to a fall in administrative expenses. The company does not generate any revenue.
Shares rose after it said initial drilling on the five licences the company was awarded earlier this year in the Inishowen area of Donegal in Ireland were positive, with good gold grades seen in the boulders at the prospect.
Shares in Connemara were up 23% to 2.00 pence in early trade, one of the best performers in the AIM All-Share index.
By Sam Unsted; [email protected]; @SamUAtAlliance
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