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Scotgold Resources receives planning application decision notice for Cononish Gold and Silver Project

The company said it is now focused on ensuring that the planning obligations and conditions contained in the notice that are required prior to the commencement of Cononish are met as soon as possible

Trossachs
Richard Gray, Scotgold’s chief executive officer commented: "The issuance of this Decision Notice is a major milestone towards the commencement of development and ultimate commercial production"

Scotgold Resources Limited (LON:SGZ) said the decision notice relating to its planning application for the Cononish Gold and Silver Project was received by its subsidiary, SGZ Cononish Ltd from the Loch Lomond and the Trossachs National Park Planning Authority (NPA) on 19 October. 

The company said it is now focused on ensuring that the planning obligations and conditions contained in the notice that are required prior to the commencement of Cononish are met as soon as possible.

READ: Scotgold Resources makes progress on Cononish paperwork

To this end, the company said, it has already made various submissions to the NPA and is in consultation with other interested agencies.

Richard Gray, Scotgold’s chief executive officer commented: "The issuance of this Decision Notice is a major milestone towards the commencement of development and ultimate commercial production.

“We are hopeful that the efforts that have been made in satisfying the conditions and the constructive engagement of the various agencies will result in the commencement of Cononish in the very near future.”

He added: “In parallel with the work to satisfy the conditions, the Company has been busy preparing for work on the ground and we look forward to the prospect of actioning these plans."

Chairman buys shares

In a separate statement on Monday, Scotgold also said that it was notified on 19 October 2018 that Nathaniel le Roux, its company’s non-executive chairman acquired 50,000 ordinary shares in the company at a price of 25p each on 18 October 2018.

Following the share purchase, Scotgold said, le Roux will have a beneficial interest in 22,368,223 ordinary shares, representing approximately 49.01% of the issued share capital, up from 48.90% previously.

In early afternoon trading, Scotgold shares were 5.9% higher at 27.00p.

Quick facts: Scotgold Resources Limited

Price: 63.9 GBX

AIM:SGZ
Market: AIM
Market Cap: £31.4 m
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