€1bn silver mining company takes stake in fledgling Dublin-based Group Eleven Resources

Group Eleven holds two prospecting licences over the historic Gortdrum copper-silver mine, (located south of Glencore’s Pallas Green zinc deposit) in County Limerick, Ireland. Image courtesy of Group Eleven Resources.

A €1bn Canadian silver mining company has taken a stake in fledgling Dublin-based zinc explorer Group Eleven Resources. The investment by Vancouver-headquartered MAG Silver in the Irish firm is part of a wider fundraising that has seen Group Eleven recently raise almost €1.1m from backers to develop zinc projects in Ireland after the price of the base metal soared 80pc last year.