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Scotgold’s interim results show nearly A$4.5mln cash on balance sheet at end December

Scotgold's plans to build a 24,000 ounce a year gold mine in the Scotland are now moving forward
richard gray
Scotgold's Richard Gray

Scotgold Resources PLC (LON:SGZ) made a loss of A$769,000 during the six months to December 2017, as the company moved towards a production decision for the Cononish mine in Scotland.

Cash and cash equivalents stood at just under A$4.5mln, representing around 30% of the total funding required to put Cononish into production.

READ: Scotgold’s Richard Gray upbeat as planning granted for Cononish gold mine development

Post the period end, permission was granted by the Parks Authority for Scotgold’s revised mining plan, so the company is now able to initiate early stage construction work and to go out and seek the remainder of the required funding.

 

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