Finance Metals & Minerals News

Scotgold future at risk by poor gold grades and lack of funds

Lower than expected gold grades and potential lack of funds threaten Scotgold Resources Ltd’s future at Cononish mine, said the company. DECLINE OF GRADES The Australian miner has altered its plans from extracting ore via level development and cut-and-fill stoping to “cost effective and efficient extraction of ore” with long hole stoping in Q2 2023. […]

Metals & Minerals News

Scotgold conditionally raises £2.5m via placing-subscriptions

Scotgold Resources Ltd has conditionally raised £2.5 million through a placing and subscriptions by certain directors. DIRECTORS DEALINGS The accelerated bookbuild announced on 9 February 2023 involved 6,250,000 new ordinary shares at a price of 40p per share. Scotgold will issue in aggregate 6,250,000 new shares, representing approximately 9.48% of the enlarged share capital. Seven directors […]

Metals & Minerals News

Scotgold doubles losses in year of ‘transformative progress’

Scotgold Resources Ltd doubled losses while increasing revenue from the start of production at the Cononish gold and silver mine near Tyndrum, Scotland. FINANCES The company’s annual results for year ended 30 June 2022 showed total revenues rose to A$17.8 million / £9.9m for 2022 (2021: A$300,000/£166,000) Loss before taxation increased to A$10.8m / £6m (2021: A$5m […]

Metals & Minerals News

Scotgold raises Q4 guidance and remains on target for output

Scotgold Resources Ltd has increased it production guidance after completing delayed work on power and ventilation at the Cononish gold-silver mine near Tyndrum in Scotland. PRODUCTION The Australian company’s report for the three months ended 30 September 2022 showed gold production of 2,004 ounces under September’s revised guidance. The new guidance followed delays to improve access, […]