Scotgold Resources Ltd Grant of Planning Permission (3721W)
09 February 2017 - 1:53AM
UK Regulatory
TIDMSGZ
RNS Number : 3721W
Scotgold Resources Ltd
08 February 2017
SCOTGOLD RESOURCES LIMITED
Grant of Planning Permission for Extension to Bulk Processing
Trial ("BPT") to 31 March 2018
The Company is pleased to announce that the application made to
the Loch Lomond and Trossachs National Park Planning Authority
("LLTNPPA") to extend BPT operations to the end of March 2018, as
announced on 13 December 2016, was granted on 7(th) February
2017.
The original BPT planning permission (2016/0064/DET) granted in
May 2016 included the installation of a small scale pilot plant to
process 2,400t (approximately 1,200m3) of existing stockpiled ore
over a nine month period. It is now planned to process around
4,800t (c.2,400m3) of additional material (the balance of the
existing stockpile) over a period of approximately twelve months
(at processing rate of around 400tpm).
As a result of the opportunities identified during the BPT, the
development plan contemplated in the August 2015 Bankable
Feasibility Study (BFS) is currently being revised and an updated
economic assessment of the Cononish Gold and Silver Project is
expected to be completed by the end of the first quarter 2017.
Richard Gray, CEO of Scotgold, commented:
"We continue to learn more about the metallurgy and the
economics of the project as we process our stockpile under the BPT.
This extension to the trial period not only affords us the
opportunity to conclude our revisions to the economic assessment
but it also throws off a small cash contribution to our costs from
the resultant gold production."
For further information please contact:
Scotgold Resources Stockdale Securities Capital Markets Vicarage
Limited Limited Consultants Capital
Limited
------------------- --------------------- ----------------- ----------------
Richard Gray Robert Finlay/ Simon Rothschild Rupert Williams
- CEO Ed Thomas
------------------- --------------------- ----------------- ----------------
Tel: +44 (0)1838 Tel: +44 (0)20 Tel +44 (0)7703 Tel: +44
400 306 7601 6100 167 065 (0)20 3651
2911
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This information is provided by RNS
The company news service from the London Stock Exchange
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