Conroy Gold and Natural Resources plc has announced a non-brokered private placement to raise up to £1.5 million through the issue of new ordinary shares at £0.10 per unit.
Each unit will comprise one ordinary share and one warrant. The pricing represents a 6.2% premium to the company’s 10-day VWAP. Warrants will be exercisable at £0.17 per share for a period of two years.
The new shares will be subject to a four-month restriction period. Proceeds will be directed towards accelerating exploration of Conroy Gold’s Irish assets and for general working capital.
The fundraising is expected to close on or around 22 September 2025, subject to regulatory approvals.
Mr. John Sherman, the Company’s Chairman, commented:
“The Board is pleased to announce the fundraise which, at a price of 10 pence per share echoes the confidence in the “Discs” project shown by the terms of the May convertible loan fundraising and the recent support from current and former Directors to restructure amounts owed to them by the Company into success-linked instruments. This funding will enable the Company to progress with carefully targeted development work on the “Discs” project, while supporting ongoing discussions with potential strategic joint-venture partners and other asset-level investors.”
About the ‘Discs of Gold’ project
Conroy Gold’s ‘Discs of Gold’ project in Ireland is defined by two parallel district scale gold trends, extending over c.90km, which are 100 per cent. held under license by the Company, and anchored by the Clontibret gold deposit. The Clontibret target area contains a currently defined 517Koz gold resource @ 2.0 g/t Au (320Koz Au Indicated and 197Koz Au Inferred (2017)) which remains open in multiple directions. The Company has identified a further seven gold targets in its license area with the Clay Lake and Creenkill gold targets being of particular interest. Gold occurs in multiple styles in the Company’s license area, including free gold, refractory gold in arsenopyrite and gold associated with pyrite and antimony (stibnite), suggesting multiple hydrothermal events seeded the deposit. There are clear geological analogies between the “Discs of Gold” targets and large gold deposits in Southeastern Australia and Atlantic Canada.
