PREPARATIONS for mining at the Connary Minerals' Castromil gold property in Portugal should begin before the end of the year, the chairman, Mr Jeremy Metcalfe, said at the Minmet plc a.g.m. yesterday.
Minmet has a 57.9 per cent stake in Connary. A 50/50 joint venture agreement has been signed between Connary and EDM, the National Mining Company of Portugal, to explore the Valongo and Gondomar gold and antimony strike zone, which extends for some 25 kms to the west of the Connary licence area at Castromil.
Mr Metcalfe said there had been approaches from a number of Connary shareholders who have found that the Ofex market, on which the company's shares are traded in London, is unable to provide a satisfactory dealing serf vice, due mainly to the extremely wide spread between bid and offer.
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