Business
Agreement on Joint Venture Partnership
Agreement on Joint Venture Partnership.
About this update from Conroy Gold & Natural Resources Plc
[{"type":"text","content":"\n \n The information contained within this announcement is deemed by the Company to constitute inside information for the purposes of Regulation 11 of the Market Abuse (Amendment) (EU Exit) Regulations 2019/310. Upon the publication of this announcement via a Regulatory Information Service (\"RIS\"), this inside information is now considered to be in the public domain.\n 30 November 2021\n Conroy Gold and Natural Resources plc\n (“Conroy Gold” or “the Company”)\n AGREEMENT ON JOINT VENTURE PARTNERSHIP\n \n \n Terms for definitive agreement for proposed joint venture with Demir Export A.S. agreed\n \n \n Letter of intent terms form the basis of definitive agreement\n \n \n Extraordinary General Meeting (“EGM”) being convened to seek shareholder approval for joint venture agreement\n \n \n Conroy Gold and Natural Resources plc (AIM: CGNR), the gold exploration and development company focused on Ireland and Finland, is pleased to announce that agreement has been reached on the main terms for a definitive agreement for the proposed Joint Venture with Demir Export A.S. (“Demir Export”) over the licences held by Conroy Gold along its 65km district scale gold trend in the Longford-Down Massif in Ireland.\n The Letter of Intent (“LOI”) terms (announced on 25 February 2021) form the basis for the definitive agreement, the main terms of which have now been agreed in principle between Conroy Gold and Demir Export but the definitive agreement has not yet been entered into by either party.\n An EGM is being convened for 12 noon on 22 December 2021 at The Alex Hotel, 41-47 Fenian Street, Dublin, D02 H678 Ireland. The Company will be sending a circular containing the notice of EGM to shareholders shortly to seek their formal approval to proceed with the transaction and this circular will be made available on the Company’s website (www.conroygold.com).\n The primary focus of the joint venture project (the “Demir Export JV” or “Project Inis”) is the development of the gold deposit in the Clontibret licence to construction ready status and bringing it into operation as a gold mine.\n The parties further aim is to also develop the Company’s Northern Ireland Licences and other licences within the Longford –Down Zone to construction ready status.\n Demir Export is a long established mining company with interests in iron, coal, gold and base metals,...