Proactive Investors - Run By Investors For Investors

Scotgold closes out financial year in good shape to commence construction at Cononish

Production could be underway in a little over 12 months
Scotgold closes out financial year in good shape to commence construction at Cononish
Scottish gold could sell at a premium

Scotgold Resources Ltd. (LON:SGZ) booked a pre-tax loss of US$1.9mln in the year to June 2018 as it continued to push towards production at its Cononish gold mine in the Grampians.

The company had US$11.2mln in cash at the period end, with the mine itself capitalised at around US$16mln.

READ: Scotgold Resources sees “significant advancement” for Cononish mine permitting

The company is now waiting on a decision from the Parks Authority as regards the design of a new tailings facility, the result of which is expected late this year.

After that, construction can get underway, with production expected in December 2019.

The overall earnings currently modelled for the mine over its currently projected life amount to over £100mln, with net cash flow likely to run at £68mln.



View full SGZ profile View Profile

Scotgold Resources Timeline

Related Articles

Gold bars
November 27 2018
Panmure Gordon’s analysts noted that Ariana’s third-quarter update continued the trend of above plan production with its full-year 2018 guidance of 20,00 ounces almost reached in nine months
The firm's geology in Bolivia
May 05 2019
The company picked up its flagship Silver Sand project in Bolivia when it bought Alcira for US$40 million two years ago
May 09 2019
Landore has made rapid progress with the BAM project

© Proactive Investors 2019

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use