Conroy Gold and Natural Resources announced this week that it is pursuing a joint venture with Turkish mining company Demir to develop its gold exploration project in the Border region, including its prospect at Clontibret in Co Monaghan.
Conroy said it had signed a letter of intent to form a joint venture with Demir Export, which had agreed to pay €9 million in two tranches to finance the first two phases of development of the 65- kilometre gold prospecting corridor at the Longford-Down Massif. Chairman Professor Richard Conway stated: ”Demir Export has the mining expertise and the financial resources not only to bring the Clontibret gold deposit to construction-ready status and into operation as a mine, but also to advance the significant gold potential of the other licences along the gold trend to the same status.”
In return for its €9 million investment, Demir will acquire 40% of the business, with the acquisition of a further…
