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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.

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