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A zinc mining and exploration company that owns assets in three regions of Ireland has raised £1 million on AIM.

Connemara Mining has been valued at some £5.3 million after its 15 million ordinary shares were valued at 35p each.

Chairman John Teeling said Ireland is a recognised zinc province and one of the global centres of zinc production. “As zinc is a commodity with strong fundamentals any commercial finds could prove particularly lucrative. We feel that our licences adjacent to recent discoveries can produce positive results and look forward to the future with confidence.”

Legal services were provided by McEvoy Partners, led by partner Orlaith O’Brien.

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