First Scottish gold ‘to be sold by end of year’

Scotgold, the company behind the Cononish gold and silver mine near Tyndrum, said it is hoping to make its first sales of Scottish gold “at a premium to spot price” before the end of this year.

Scotgold CEO Richard Gray has unveiled the preliminary results of a bulk processing trial (BPT) currently underway at Cononish.

The company said that the preliminary test results for the BPT up to September 24 made it “positive that sufficient gold can be directly poured for marketing to Scottish jewellery industry etc. without further processing being required.”

It said estimated total Scottish gold production for the duration of the BPT is between 75 ounces and 100 ounces.

It said Scottish gold “poured for marketing is less than initially expected, however the BPT has identified opportunities to increase the Scottish gold available from the full scale plant.”

CEO Gray said: “The company is pleased with the preliminary results of the BPT and in particular the potentially positive implications for the future development of Cononish.

“We look forward to completing the technical work streams underway to incorporate the opportunities identified into a revised development plan and assessing their economic impact.

“We also look forward to achieving our first sales of Scottish gold at a premium to spot price before the end of this year.”