Scotgold Resources Ltd Planning Update (4186O)
August 18 2017 - 6:20AM
UK Regulatory
TIDMSGZ
RNS Number : 4186O
Scotgold Resources Ltd
18 August 2017
Friday 18 August 2017
SCOTGOLD RESOURCES LIMITED
(The "Company" or "Scotgold")
Submission and Validation of Cononish Gold and Silver Project
Planning Application for Revised Operations
The Company is pleased to advise it has received confirmation
from the Loch Lomond and Trossachs National Park Planning Authority
that its application for a revision of the currently permitted
operation has been received and validated. A copy of the Non
Technical Summary and the Planning and Environmental Statement will
be available on the Company's website www.scotgoldresources.com.
These and other relevant documentation are also available from e
eplanning portal www.lochlomond-trossachs.org/planning/.
Based on today's validation which defines the start of the
statutory determination period, the Company hopes that a
determination can be made by the end December 2017 as previously
announced.
This application is for the development of an underground gold
mine with process plant building and tailings stacks, a settlement
pond, flow gauging point, a site drainage system including
discharge to the River Cononish as well as a recirculation pipe
returning water from the pond to the processing plant, a new bridge
over the Crom Allt at the Dalrigh ford, construction of a small car
parking area adjacent to the existing public car park at Dalrigh
and related track accesses.
The two key differences between this application and the
previously permitted operation are; the redesign of the Tailings
Storage Facility using a "dry stack" system" and the phasing of the
project, allowing for a lower capital first production phase
followed by a subsequent expansion to the currently permitted
production levels.
Scotgold CEO, Richard Gray said "The revisions made to the
Project in this application offer significant advantages, both in
terms of environmental impacts and economics with the peak funding
requirement reduced from GBP18.5M to GBP7.4M. In parallel to the
permitting process we are continuing to examine the financing
options now available."
For further information please contact:
Scotgold Resources Stockdale Securities Capital Markets Smaller Company
Limited Limited Consultants Capital
Ltd
------------------- --------------------- ----------------- ----------------
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
------------------- --------------------- ----------------- ----------------
Forward Looking Statement
Statements regarding plans with respect to the Company's mineral
properties are forward-looking statements. There can be no
assurance that the Company's plans for development of its mineral
properties will proceed as currently expected. There can also be no
assurance that the Company will be able to confirm the presence of
additional mineral deposits, that any mineralisation will prove to
be economic or that a mine will successfully be developed on any of
the Company's mineral properties.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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