Scotgold Resources Annual Loss Widens On Mine Pre-Development Costs

Mon, 11th Nov 2019 18:28

(Alliance News) - Scotgold Resources Ltd said on Monday its loss widened in its recent financial year, as it continued to spend on its Cononish gold and silver project.

The company said its pretax loss widened to USD3.5 million for the financial year ended June 30 from USD1.9 million the year before.

Scotgold incurred USD1.3 million in pre-development costs for the project in Scotland's Grampian Highlands, versus no such costs the year before. Income remained insignificant.

Scotgold shares closed 1.6% higher in London at 76.70 pence each on Monday.

By Loreta Juodagalvyte; loretajuodagalvyte@alliancenews.com

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