Scotgold Says Cononish Study Backs Robust Economics Of Project
Wed, 5th Aug 2015 08:33
LONDON (Alliance News) - Scotgold Resources Ltd on Wednesday said it has received the bankable feasibility study for the Cononish gold and silver project in Scotland, with the study backing the robust economics of the project, sending shares in the company higher in early trade.
Scotgold said the study showed the economics of the project are strong, with a low average operating cost. The study estimated average annual gold production from the site would be 23,370 ounces equivalent, with peak production to hit 28,540 ounces.
Completion of the study will allow Scotgold to work on securing its preferred financing route for the project and the signing of a financing deal is set to follow in the near future, it said.
"The study illustrates the robustness of the Cononish Project with the mine profitable down to USD700 per ounce and provides a very solid base for our ongoing discussions with potential project finance providers," said Richard Gray, Scotgold's chief executive.
Scotgold shares were up 4.7% to 0.7849 pence on the news.
By Sam Unsted; [email protected]; @SamUAtAlliance
Scotgold Resources Says Progress Made At Cononish, Grampian Projects
Mon, 3rd Aug 2015 08:25
LONDON (Alliance News) - Scotgold Resources Ltd shares were trading higher Monday morning after the company reported good progress in the past quarter on the Cononish gold project in Scotland.
Scotgold said the ore reserve estimate for Cononish was upgraded in the quarter to the end of June and said the bankable feasibility study for the project is now complete and awaiting final sign off by the consultants working on the project.
It is considering a range of parallel financing options in order to secure the necessary capital to bring the project into production.
The company is also awaiting the results of the structural and geochemical survey being conducted at the Grampian gold project, also in Scotland.
Scotgold shares were up 9.9% to 0.8241 pence in early trade, one of the best performers in the AIM All-Share.
By Sam Unsted; [email protected]; @SamUAtAlliance
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