Scotgold Resources Ltd Initiation of Development on 19th December 2018 (8708K)
December 19 2018 - 2:00AM
UK Regulatory
TIDMSGZ
RNS Number : 8708K
Scotgold Resources Ltd
19 December 2018
19 December 2018
Scotgold Resources Limited
("Scotgold" or the "Company")
Cononish Gold and Silver Project
Initiation of Development on 19(th) December 2018
The Company is pleased to announce that it has received
confirmation from the Loch Lomond and the Trossachs National Park
Planning Authority ("NPA") that all of the 19 pre-start conditions
and other obligations, relating the planning application
2017/0254/MIN(*) and as detailed in the RNS regarding the Decision
Notice announced on 22(nd) October 2018, have now been discharged.
As a consequence the Company's subsidiary, SGZ Cononish Ltd will
initiate development activities at its Cononish Gold and Silver
Project ("Cononish") on Wednesday 19(th) December.
The Company would like to thank the NPA, the consultees who have
responded to the Company's submissions and the many other
stakeholders for their hard work and constructive input. Whilst the
complexity of this process has resulted in an extended timeline,
Cononish can now move forward into the development phase with a
more thorough understanding of the issues of concern to the various
parties.
Richard Gray, Chief Executive Officer of Scotgold commented:
"We are delighted to have reached this point and are looking
forward to a very exciting 2019, bringing the Cononish Project into
production. We can now put our Implementation plans into action and
anticipate the first rock breaking activities at the Cononish mine
portal starting early in the New Year. We hope our many
stakeholders will follow us on this journey, culminating in first
gold production planned for end of 2019."
(*) documentation relating to the application can be viewed at
the NPA website: www.lochlomond-trossachs.org/planning
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.
For further information please contact:
Scotgold Resources Limited Tel: +44 (0)1838 400 306
Richard Gray
SP Angel Corporate Finance Tel +44 (0) 20 3470 0470
LLP
Nomad and Joint Broker
Ewan Leggat / Charlie Bouverat
Capital Markets Consultants Tel: +44 (0) 7703 167065
Financial PR
Simon Rothschild
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END
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