News Column

Connemara Mining Shares Up 23% On County Kilkenny Licence Win

August 22, 2014

Sam Unsted

LONDON (Alliance News) - Connemara Mining Company PLC Friday said it has been awarded a prospecting licence in County Kilkenny, Ireland, sending its shares higher in early trade.

The zinc, lead and gold exploration firm saw its shares rise 23% to 3.38 pence on Friday, putting it among the top three risers on the AIM All-Share index.

The group said it has been awarded Prospecting Licence 3313, located north east of the Vedanta, Lisheen, Lundin and Galmoy mines and to the south of the Ralpha mineralised zone.

It said the licence covers nearly 50 square kilometres, with previous drilling in the area having been restricted to the north-west corner.

"This part of Ireland, which contains the giant Lisheen zinc mine and closed Galmoy mine, has always been rich in zinc. Our previous drilling has been focused on the north west of the block and we have potential targets to the south east," said Connemara Chairman John Teeling.

"We are excited that the zinc industry is finally coming back to life with a supply deficit, which is likely to continue for some years," Teeling added.

For more stories on investments and markets, please see HispanicBusiness' Finance Channel

Source: Alliance News

Story Tools Facebook Linkedin Twitter RSS Feed Email Alerts & Newsletters