Email Facebook Twitter

London South East Natural Resources Briefing webcast: #Emmerson #Alba #Condor Gold #Gold analysis
Angus Energy in talks to buy 'transformational' gas asset in North England

Alliance News

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;; @SamUAtAlliance

Copyright 2015 Alliance News Limited. All Rights Reserved.

Alliance News

Related Shares:

Back to Alliance News

Share Price, Share Chat, Stock Market news at
FREE Member Services
- Setup a personalised Watchlist and Virtual Portfolio.
- Gain access to LIVE real-time Regulatory News (RNS).
- View more Trades, Directors' Deals, and Broker Ratings.
Share Price, Share Chat, Stock Market news at

Datafeed and UK data supplied by NBTrader and Digital Look. While London South East do their best to maintain the high quality of the information displayed on this site,
we cannot be held responsible for any loss due to incorrect information found here. All information is provided free of charge, 'as-is', and you use it at your own risk.
The contents of all 'Chat' messages should not be construed as advice and represent the opinions of the authors, not those of London South East Limited, or its affiliates.
London South East does not authorise or approve this content, and reserves the right to remove items at its discretion.