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; samunsted@alliancenews.com; @SamUAtAlliance
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