Small caps round-up: Conroy, Providence Resources, African Aura

7th Feb 2011 11:13

Irish-based miner Conroy Gold & Natural Resources has received positive results from the scoping study on its Clontibret gold project in Country Monaghan. The project has a potential gold recovery of 174,840 ounces (oz) of gold, which equates to an annual production rate of 24,000 oz gold over a 7.2 year mine life."The positive outcome of the scoping studies indicates that the Clontibret project is viable and also provides a sound technical and financial foundation to move forward to the next stages of the project," says chairman Richard Conroy.Oil and gas firm Providence Resources has signed a memorandum of agreement with Shell International Trading and Shipping Company to negotiate an oil off-take sale and purchase agreement.The deal relates to future potential oil production from its Barryroe and Hook Head oil discoveries off the south coast of Ireland.Exploration and development company African Aura Mining said the estimated resource at its 38.5% owned Putu iron ore asset has more than doubled after the latest independent audit.The inferred resource at the Liberian project has been bumped up to 2.4bn tonnes of iron mineralisation at 34% Fe. The company expects to upgrade the "inferred" status of the estimate to "indicated" status later this year.