Scotgold Resources is as the name suggests, an AIM-listed gold company which is commissioning the first phase of a high-grade, low-cost gold-silver mine at Cononish in Scotland's Grampian Mountains. Its market cap was £68 Million.
Scotgold Resources were speaking at the Hardman Mining Investor Forum webinar 11.11.2020, held in partnership with London South East. The CEO Richard Gray CEO joined us live on the webinar to talk us through the corporate presentation.
Richard explained that "Cononish is our flagship gold and silver mine, predominantly gold with sliver representing just 5% of our value, but high grade at 11.7 grams per a ton. Our recovery costs are around $600 per ton so well down in the bottom quartile.
"We are a company with a mine just about to come into production, and have done it in a phased approach. We are going half scale for phase one and then expanding for phase 2, all using internally generated cash, and we are on the brink in the next few weeks of commissioning phase 1."