logo-loader
Scotgold Resources Limited

Scotgold Resources presses button on Cononish goldmine

Gold miner Scotgold Resources Ltd (LON:SGZ) is to break ground on the Cononish mine in the Trossachs National Park following completion of their planning application. Scotgold's CEO Richard Gray tells Proactive London how he has a core team on site and equipment is also being lined up so Scotgold can the 'hit the ground running' at the start of 2019.
Scotgold expects to process around 3,000 tonnes of ore per month in the first phase, which will double in phase two.
A feasibility study last year estimated Cononish can generate between £67mln and £100mln in earnings over the life of the mine.
The pre-tax net present value was put at £43mln, using a 10% discount rate. In early morning trading, Scotgold shares were 4.4% higher at 35.50p.

Quick facts: Scotgold Resources Limited

Price: £0.39

Market: AIM
Market Cap: £18.85 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Scotgold Resources Limited named herein, including the promotion by the Company of Scotgold Resources Limited in any Content on the Site, the...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Full interview: Scotgold Resources to generate on average £1mln per month...

Scotgold Resources Ltd (LON:SGZ) chief executive Richard Gray tells Proactive London they’re entering an active period on site at the Cononish mine with production now less than six months away. He says they’re currently developing and enlarging the existing adit so they can get the...

1 week, 3 days ago

2 min read