"At the moment shareholders who followed me into gold exploration are showing a loss, and hopefully that will change," Professor Conroy remarked in 2005, highlighting the difficult reality of mining ventures, where even excellent exploration results failed to attract market interest, leading to consistent declines in share prices despite years of effort and investment in the industry.
"But that's the reality. We've had a situation where our exploration results have been excellent, but as regards the market, nobody paid the slightest bit of notice. So our price steadily went down as we raised funds for exploration. You have to be prepared that it may take several years to prove your point," he shared, illustrating the challenges faced by exploration companies and their investors in a volatile market.
Richard Conroy's work culminated in the significant discovery and development of the Galmoy zinc mine in Co Kilkenny, which represented a notable achievement in his career despite its closure, reflecting both the highs and lows of mineral exploration.
"We had raised about £100,000 and made about a million out of it. That was our first big introduction to big business," a statement that underscores the financial risks and rewards inherent in the world of mining exploration, showcasing Conroy's entrepreneurial spirit.
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