07:00 Mon 25 Nov 2019
Scotgold Resources - Exploration Programme Clarification
("Scotgold" or the "Company")
Exploration Programme Clarification
The audited report and accounts published for the year ended
|
Minimum expenditure (est.) |
Licence Fee (est.) |
Total (est.) |
|
A$ |
A$ |
A$ |
Not later than one year |
5,824,554 |
117,435 |
5,941,989 |
Later than 1 year but not later than 2 years |
2,590,561 |
117,435 |
2,707,996 |
Later than 2 years but not later than 5 years |
7,427,403 |
352,305 |
7,779,708 |
|
15,842,518 |
587,175 |
16,429,693 |
The Company wishes to make clear that only the Licence Fee is a contracted amount and is conditional on the Company continuing to hold all 13 licences over the remaining five year period ending in
Scotgold's licences are subject to a bi-annual review by the Crown Estate Scotland commencing in
The Directors of the Company remain confident that all of the Company's financial commitments, including those relating to exploration activities, can be funded for the foreseeable future from existing cash resources, loan facilities and anticipated future cash flows from the Cononish gold mine, which is expected to commence production at the end of
For further information please contact:
Nomad and Joint Broker
Ewan Leggat / Charlie Bouverat Tel +44 (0) 20 3470 0470
Financial PR
Simon Rothschild Tel: +44(0)7703 167 065
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