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Clare mining company Mincon 'could double in size'

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Davy says new ways of calculating gross domestic product (GDP) may suggest the economy expanded 1.7pc last year

Davy says new ways of calculating gross domestic product (GDP) may suggest the economy expanded 1.7pc last year

Davy says new ways of calculating gross domestic product (GDP) may suggest the economy expanded 1.7pc last year

Mincon, the Clare-based mining company which recently listed in Dublin, could double in size, Davy Stockbrokers said.

The manufacturer and supplier of industrial drill-bits and hammers is "a pure play on the structurally less volatile global consumable rock-drilling products industry", Davy said in a note to investors. "It has grown rapidly in recent years, while generating returns of over 20pc," the company added.

Davy, which is Mincon's house broker, initiated coverage of the stock with an 'outperform' rating.

Irish Independent