Conroy Diamonds plc - Gold Found In Ireland

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Hi, This week a company announced that they had found a deposit of 440,000 ounces of gold in Ireland. That sounds like an awful lot of Gold to me. I would say the find is worth $0.4 billion. How come the shares of the company only have a market capitalisation of $6 million? Are there any experts out there on gold mining stocks? Thanks UMart