AIM-listed zinc exploration company Connemara Mining has reported pre-tax losses of €472,795 for 2008. This was an improvement from the loss figure of €624,398 the previous year as its administrative expenses fell.The company, which is now the fourth biggest licence holder in Irish exploration with a total of 38 licences, has no debt and a cash balance of €472,278, claims RTE. It is undertaking an extensive drilling programme to progress its zinc discoveries.
Connemara has discovered zinc at its sites in Stonepark in Limerick, Lough Sheelin in Cavan and has also recently reported good results from its Castlemaine licence in Kerry.
