Conroy Gold and Natural Resources (LSE:CGNR) reported full-year results for the year ended 31 May 2026 on 6 November 2026, a few days after warning that publication of its Annual Report had been delayed beyond the original 2 November target. The Irish gold explorer also published the final hole of its first-phase drilling campaign at the Clontibret deposit on 26 October 2026.

What the company does

Conroy is an exploration and development company focused on gold and base metals in Ireland. Its flagship asset is Clontibret in County Monaghan, where a 2017 estimate under the JORC (2012) code put the resource at 517,000 ounces of gold at a grade of 2.0 grams per tonne. The company says the deposit remains open in several directions. It has also pursued a wider district-scale gold trend in the region.

Latest drilling results

The final Phase I hole, CGC-25-007, was drilled to 592.1 metres and targeted the stockwork zone beneath the historic Tullybuck antimony mine. A stockwork zone was logged from 330.8 to 408.4 metres. The best intercepts included 7.0 metres at 0.4 grams per tonne of gold from 369 metres, which contained a 3.0 metre section at 0.6 grams per tonne, and 2.4 metres at 0.6 grams per tonne from 361 metres, containing 0.6 metres at 1.5 grams per tonne.

A narrow 0.5 metre intercept at 0.35 grams per tonne, at about 457 metres vertical depth, was described as the deepest gold found at Clontibret to date. LSE:CGNR said the gold system remains open at depth, and that the results will feed into the geological model and guide further stockwork drilling. Earlier announcements in 2026 reported step-out intercepts in June, two drill holes in May and a deep intersection in March.

Funding

Conroy raised money during the summer. On 29 July 2026 it announced a fundraising of up to £0.8 million, and on 1 September 2026 it closed a non-brokered private Placement that raised £1,313,000 before expenses through 16,412,500 new shares at 8 pence each. Every two shares came with a Warrant for one further share at 15 pence, exercisable until 31 August 2028. Proceeds are intended for geological work on its Irish assets, for pursuing asset-level Investment and for working capital.

Financial picture

As an exploration company Conroy has no Operating Revenue and does not pay a dividend. The Annual General Meeting is scheduled for 23 November 2026.

Sector and index context

The FTSE AIM All Share Index has long been a home for natural resources explorers, and gold has attracted fresh investor attention in recent years. Irish gold remains a niche, with permitting, local community views and the cost of drilling at depth all shaping what can be developed. Conroy (LSE:CGNR) competes for capital with explorers in more established Mining jurisdictions.

Key risks

Exploration carries geological risk, and the latest grades are modest compared with the 2.0 grams per tonne average of the existing resource. The company depends on regular fundraisings, which dilute shareholders, and funding conditions for small explorers can tighten quickly. The delay to the annual report also drew attention to reporting timelines. Consent, environmental and planning processes in Ireland add further uncertainty to any move towards mining.

What to watch next

Attention will turn to the 23 November AGM, the detailed annual report, and decisions on Phase II drilling at Clontibret. Any announcement of a partner or asset-level investment, which LSE:CGNR flagged as an aim of its fundraising, would be an important marker.