Irish Marine Oil's (IMO) gold exploration business has had difficulties this year, chairman Mr John Teeling told the company's a.g.m. yesterday.

Mr Teeling was more positive about the company's zinc mining operation and reported good results from its exploration at Caherconlish in Limerick. IMO is still evaluating the opportunity to buy the Bula mines at Nevinstone near Navan, Co Meath.