Connemara Mining Company has reached an agreement with Teck Ireland on its Oldcastle Block of licences in Cavan/Meath. Teck can earn a 75% indirect interest in the licences by spending €1.35m by 2018. The initial work programme indicated by Teck includes further soil coverage, seismic surveying and deeper target drilling.
Norseman Gold has increased the placing announced on Wednesday to now raised A$25m through the issue of 625m new ordinary shares to institutional investors at an issue price of 4 cents (2.65p) each. The shares are being issued in two stages. The proceeds will be used towards working capital requirements.
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