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Highlights
Conroy Gold seeks to raise up to £1.5 million through a non-brokered private placement at 10p per share.
Each unit includes one new ordinary share and one warrant exercisable at £0.17 within two years.
Proceeds will accelerate exploration on Irish assets and support the Company’s “Discs of Gold” project.
Conroy Gold and Natural Resources plc (AIM:CGNR), the gold exploration and development company operating in Ireland and Finland, has announced plans to undertake a non-brokered private placement to raise up to £1.5 million.
The placement will consist of new ordinary shares of €0.001 each, issued at a price of £0.10 per share. This represents a 6.2% premium to the 10-day volume weighted average price (VWAP) and an 11.1% discount to the mid-market closing price on 11 September 2025.
Structure of the Placement
Each unit in the placement will comprise one new ordinary share and one warrant. Each warrant will entitle the holder to acquire an additional ordinary share at an exercise price of £0.17 at any time within two years of the closing date.
The proposed fundraise is expected to close on or around 22 September 2025, subject to conditions including regulatory approvals and admission of the new shares to trading on AIM.
Investor Participation
The Company has opted for a non-brokered structure to attract new long-term investors, particularly from North America. Eligible investors in the United Kingdom and Ireland are invited to participate by contacting Conroy Gold’s UK broker, Peterhouse Capital Limited.
Use of Proceeds
Net proceeds from the placement are intended to be applied towards:
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Accelerating geological exploration on Conroy Gold’s Irish assets.
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Progressing activities aimed at securing material asset-level investment.
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Supporting general working capital requirements.
The Company confirmed that these funds will also provide momentum for advancing its flagship “Discs of Gold” project.
The ‘Discs of Gold’ Project
Conroy Gold’s “Discs of Gold” project covers two parallel gold trends extending over approximately 90km in Ireland, held under 100% licence. The project is anchored by the Clontibret deposit, which currently contains a defined 517,000-ounce gold resource at 2.0 g/t Au (320,000 ounces Indicated and 197,000 ounces Inferred, as of 2017).
In addition to Clontibret, the Company has identified seven further gold targets within its licence area, with Clay Lake and Creenkill being of particular interest. Mineralisation styles observed include free gold, refractory gold in arsenopyrite, and gold associated with pyrite and stibnite, indicating multiple hydrothermal events.
The Company has noted geological similarities between its Irish gold trends and large deposits in Southeastern Australia and Atlantic Canada.
