Scotgold Resources Ltd has placed employees on “short term unpaid leave” and is talks with an “administration specialist” while it faces action from a creditor. FINANCING The Australian company continues “financing discussions” to develop its Cononish gold and silver mine and reached an advanced stage with “confirmatory diligence being undertaken”. “These have not yet reached […]
Tag: Cononish gold and silver mine – Tyndrum – Scotland
Scotgold review focuses on top down LHS mining
Scotgold Resources Ltd has outlined priorities identified from its continuing review of the revised mining plan and schedule for the Cononish gold-silver mine near Tyndrum. TOP-DOWN LHS The company, which still needs to pay debt interest, said that the mine plan and schedule until July 2025 focuses on transitioning to top-down long hole open stope […]
Scotgold reviews mine design, schedule and production
Scotgold Resources Ltd plans a third-party review for the next 12 months at its Cononish mine following dwindling cash and initial low grade gold finds. DEVELOPMENT RATES The review will initially assess the mine design, schedule and production forecasts. Second stage power and ventilation upgrades will also be included to improve mine accessibility, allowing simultaneous operation […]
Scotgold finds lower than expected grade at Cononish
Scotgold Resources Ltd said it had encountered “lower than expected grade” at 19m of the 115m strike length in Cononish gold and silver mine near Tyndrum in Scotland. OPERATIONS The company added that long hole stoping was “progressing well” and “for the most part” in line with the 2023 mine plan. A total of 1,956 […]
Scotgold long hole stoping ‘performing well’
Scotgold Resources Ltd said its new approach of long hole stoping was “performing well and in line with management’s expectation” at the Cononish gold and silver mine near Tyndrum in Scotland. CONSISTENT During the first week of April, the company changed its plans from extracting ore via level development and cut-and-fill stoping, following poor gold […]
Scotgold Resources begins long hole stoping with first blast at Cononish mine
Scotgold Resources Ltd began long hole stoping yesterday with the first blast in the eastern section of the 430 West drive at its Cononish gold and silver mine near Tyndrum in Scotland. LONG HOLE STOPING The operations follow poor gold grades encountered at the 430 West ore drive, prompting the company to alter its plans […]