Scotgold Resources Ltd - Stirlingshire-based gold and silver explorer and producer in Scotland - Posts "record gold production" in the second quarter of 2022 that beats firm's guidance. At its Cononish gold and silver mine in Scotland, produces 3,531 ounces of gold in the second quarter, more than 2,631 ounces it produced in the entire second half of 2021. Beats quarterly guidance of 2,600 to 3,200 ounces.
Half-year production at 4,755 ounces. Sold 551 tonnes of gold concentrate worth GBP6.3 million in the first half of 2022.
Scotgold sold gold for GBP1,648 per ounce on average in the second quarter versus GBP1,522 in the first quarter.
"This has been our strongest quarter yet for Scotgold, characterised by record gold production which exceeded guidance, record gold sales translating into significant cash generation and continued progress on the ground to meet our production and operational targets," says Chief Executive Officer Phil Day. "We remain impressed with Cononish's high-grade gold geology," he adds.
Current stock price: 78.95 pence, up 8.9% on Monday
12-month change: up 41%
By Tom Budszus; tombudszus@alliancenews.com
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