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Scotgold Resources' full year losses narrows

Thu, 15th Sep 2016 09:39

(ShareCast News) - Gold and silver miner Scotgold Resources' full-year losses narrowed as it aims to find funding for its Highlands mines. For the year ended 30 June, losses narrowed by 29% to £800,000, compared to the previous year.Administrative costs rose 15% to £247,000 as exploration expenses fell about 67% to £74,000.The AIM-listed miner finished a bankable feasibility study in January for its Cononish gold and silver project in Scotland's Grampian Highlands for a basis for discussion with possible finance providers to advance production.The study included a revised mineral resource estimate to be completed by geological consultancy CSA Global, analysis of the 2013 Cononish development plan to identify areas requiring further input to meet the study's standards, a study examining alternative mining methods, and an amendment to the existing planning permission for 24 hour, six day plant operations.The mine had a base case gold price of £688 per ounce with an EBITDA of £67.4m , a pre-tax free cash flow of £43.4m and a pre-tax IRR of 45%.There were low operating costs with a life of mine average of £327 per ounce equivalent gold.It has a peak funding requirement of £18.5m and all in capital expenditure was £24m.Average annual gold production was 23,370 ounce equivalent gold with peak production in the second year with 28,540 ounce equivalent gold.After raising £500,000 in March through a share placing, it said it would needs to raise further capital or enter into a sale or a joint venture to meet the £840,000 in convertible loan notes which are due in September.Scotgold said the remaining outstanding balances of the convertible notes owed to non-executive chairman Nat Le Roux is £190,000.The miner also said it plans to de-list from the Australian Securities Exchange (ASX), after being admitted in 2008.Shares in Scotgold were up 3.18% to 0.645p at 0950 BST.
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30 Mar 2023 12:32

Scotgold resources loss widens; says progress made at Cononish mine

(Alliance News) - Scotgold Resources Ltd shares surged on Thursday, despite a widening loss in the first half, as it reported "progress" at its Cononish mine.

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30 Mar 2023 11:30

AIM WINNERS & LOSERS: Trackwise falls as loss wider, cash runway short

(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Thursday.

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27 Mar 2023 16:57

LONDON MARKET CLOSE: Banking sector fears ease; CMC Markets slumps

(Alliance News) - Stock prices in Europe ended higher on Monday, with shares bolstered by fears for the banking sector abating after a deal was struck for a US bank to mop-up assets of collapsed Silicon Valley Bank.

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27 Mar 2023 12:25

Scotgold Resources sees decline in gold grades at 430 West ore drive

(Alliance News) - Scotgold Resources Ltd on Monday said gold grades at the 430 West ore drive at the Cononish project in Scotland have declined "significantly".

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27 Mar 2023 12:05

LONDON MARKET MIDDAY: Bank stocks get boost as SVB assets bought

(Alliance News) - Stock prices in London were higher at midday on Monday, as investor sentiment was lifted by the news that a US bank will buy more USD70 billion dollars of Silicon Valley Bank assets.

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27 Mar 2023 10:51

AIM WINNERS & LOSERS: ScotGold drops two-thirds as gold grade declines

(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Monday.

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16 Feb 2023 11:56

Scotgold Resources raises USD3.0 million for Cononish gold mine

(Alliance News) - Scotgold Resources Ltd on Thursday said it has raised GBP3.0 million in total, after it closed its retail offer of 1.2 million shares priced at 40 pence each.

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10 Feb 2023 10:53

Scotgold Resources eyes exploration on GBP2.5 million capital raise

(Alliance News) - Scotgold Resources Ltd on Friday announced plans for resource definition drilling at its Cononish development, after provisionally accruing GBP2.5 million in funds via a capital raise.

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10 Feb 2023 10:45

AIM WINNERS & LOSERS: Vela Technologies gets boost from EnSilica climb

(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Friday.

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9 Feb 2023 20:24

IN BRIEF: Scotgold Resources to raise USD2.0 million for gold mine

Scotgold Resources Ltd - Stirlingshire-based gold and silver explorer and producer in Scotland - Intends to undertake a proposed capital raising for at least USD2.0 million through a placing, subscription and retail offer. Plans to raise USD669,000 through a subscription at a price of 40 pence. Intends to carry out a retail offer of up to 1.3 million new shares at the issue price on the bookbuild platform to raise a further USD609,000. The placing will be effected by way of an accelerated bookbuild, it adds. Plans to use proceeds to further Cononish gold mine in Scotland.

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19 Jan 2023 15:00

TRADING UPDATES: Cordel interim revenue jumps; Ilika loss widens

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:

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19 Jan 2023 10:53

AIM WINNERS & LOSERS: Kodal Minerals wins USD118 million in funding

(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Thursday.

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12 Jan 2023 15:47

UK shareholder meetings calendar - next 7 days

Friday 13 January 
eEnergy Group PLCGM re shareholder resolution to adopt the 2022 Accounts
Monday 16 January 
4D Pharma PLCGM re update on administration and suspension of trading
Tuesday 17 January 
Beowulf Mining PLCGM re capital raise
Egdon Resources PLCAGM
Finsbury Growth & Income Trust PLCAGM
Ironveld PLCAGM
Orcadian Energy PLCAGM
Troy Income & Growth Trust PLCAGM
Wednesday 18 January 
Diploma PLCAGM
GCM Resources PLCAGM
John Lewis of Hungerford PLCAGM
Tlou Energy LtdGM re share placing
Topps Tiles PLCAGM
Tracsis PLCAGM
Thursday 19 January 
Cardiff Property PLCAGM (TBC)
Equipmake Holdings PLCAGM
Pioneer Media Holdings IncAGM
Scotgold Resources LtdAGM
  
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21 Dec 2022 11:25

AIM WINNERS & LOSERS: Zephyr Energy rises on US acquisitions

(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Wednesday.

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21 Dec 2022 10:47

Scotgold Resources shares down as annual loss widens

(Alliance News) - Scotgold Resources Ltd on Wednesday reported a jump in annual revenue but suffered a widened loss, as it also lowered its production forecast.

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