17 Jan 2022 10:27
17 January 2022
Scotgold Resources Limited
("Scotgold" or the "Company)
Director Dealing
Scotgold Resources Limited (AIM:SGZ), the gold exploration and production company focused on Scotland, announces that it was notified on 14 January 2022 that Peter Hetherington, Non-Executive Chairman purchased 150,000 depositary interests of no par value in the Company ("Ordinary Shares") at an aggregate price of 75.77 pence per share.
Following the above purchases of the Ordinary Shares, Mr Hetherington's beneficial interest in the issued share capital of the Company is as follows:
Name & Position | Ordinary Shares Purchased & Purchase Price | Number of Ordinary Shares held post Transaction | % of Issued Share Capital |
Peter Hetherington, Non-Executive Chairman | 150,000 | 2,616,974 | 4.40% |
NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM
1. | Details of the person discharging managerial responsibilities/person closely associated
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(a) | Full name of person Dealing | 1. Peter Hetherington
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2. | Reason for notification | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(a) | Position/status | 1. Non-Executive Chairman
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(b) | Initial notification/ Amendment | Initial notification | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(a) | Name of entity | Scotgold Resources Limited | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(b) | LEI | 213800HL5A2K7LW2G360 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
4. | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(a) | Description of the financial instrument, type of instrument
| Ordinary Shares | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(b) | Identification code
| AU000XINEAK5 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(c) | Nature of the transaction
| Purchase of Ordinary Shares | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(d) | Price(s) and volume(s) |
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(e) | Aggregated information: - Aggregated volume - Price | Single transactions as in 4(d) above 150,000 75.77 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(f) | Date of transaction
| 14 January 2022 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(g) | Place of transaction | London Stock Exchange, AIM Market (XLON) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.
**ENDS**
For further information please contact:
Scotgold Resources Limited | SP Angel Finance LLP | Celicourt Communications |
Chief Executive Officer Philip Day | Nomad and Broker Ewan Leggat / Charlie Bouverat | Financial PR Felicity Winkles/ Ollie Mills |
| Tel +44 (0) 20 3470 0470 | Tel +44 (0) 208 434 2643 Tel +44 (0) 774 8843 871 |
Notes
Scotgold Resources Ltd (AIM:SGZ), is Scotland's first commercial gold producer. The Company poured first gold in November 2020 at its Cononish Gold and Silver Mine ('Cononish) in Tyndrum, Scotland and is developing it into a +23,500-ounce gold mine per annum by end of Q1 2023. Cononish is a high-grade underground mining operation with a central processing plant producing gold concentrate for off-take and gold doré for the Scottish Jewellery industry. Once in full production, the mine has anticipated forecast operating costs of c.£544/oz AISC, which will place Cononish in the lowest quartile of gold mining operations globally.
It is Scotgold's vision to build a mid-tier gold mining company in Scotland with multiple operations in the country that enhance the local environment and economy in ways that have an enduring positive impact.