Conroy Gold narrows losses, project development continues

28th Feb 2019 07:56

(Sharecast News) - Ireland-based resource company Conroy Gold and Natural Resources narrowed losses in the first half of its trading year.For the six months ended November 30, Conroy turned in a pre-tax loss of €285,604 - a 37% reduction on the €458,222 of red ink turned in a year earlier.Conroy, which didn't generate any revenues in the half as a result of being an early-stage production company, continues to progress its exploration programme throughout the period - receiving "excellent" drill results from its extended programme at Clontibret.The AIM-listed miner also intersected new gold lodes at its Clay Lake and Glenish assets.Looking forward, Conroy said it expects to continue to make successful progress with its exploration, delineation and development programmes across its gold properties.Chairman Richard Conroy said: "The initial drill programme was very successful and we used the extended one to build on those results."Further drilling is planned to increase the resource, and the environmental and other studies related to the projected mine development continue."As of 1200 GMT, Conroy shares had lost 4.23% to 8.50p.