Conroy Gold and Natural Resources expects trading in its new 4.37 million shares to begin on Tuesday after winning support for the re-organisation of its capital.
Shareholders backed the re-organisation of the company at an annual general meeting in Dublin. The proposal consolidating its shares to reduce their number of shares to 100th of the current total.
The company said after the meeting that its capital re-organisation will go ahead and the new 4.37 million shares will be admitted for trading to the Dublin and London stock markets on Tuesday, December 15th.
Conroy is planning to mine for gold Clontibret, Co Monaghan. Addressing the meeting, chairman professor Richard Conroy said that the re-organisation would help it attract investment as it moves from exploration to development.
“Despite the current markets we still have the opportunity to develop a profitable mine in a very stable part of the world,” he said.
Meanwhile, he told the annual general meeting of Karelian Diamond Resources, which he also chairs, that world class deposits of the precious stones had been found close to its property in Finland.