Scotgold Resources Ltd Cononish Production Update (3037A)
01 Junio 2021 - 01:00AM
UK Regulatory
TIDMSGZ
RNS Number : 3037A
Scotgold Resources Ltd
01 June 2021
1 June 2021
Scotgold Resources Limited
("Scotgold" or the "Company)
Production and Corporate Update
Scotgold is pleased to provide an update to the market with
regard to its mine production and processing performance for the
Cononish Project ("Cononish").
The Company is pleased to announce that Cononish has been
producing both gold concentrate and gravity separated gold Dore,
following the resolution of various outstanding technical issues
affecting the processing plant announced by RNS on 27(th) April
2021.
The first shipment of concentrate was made on the 11(th) May
2021, achieving a major milestone for the Company. We shipped 25
tonnes of concentrate at an average of 182.4 grams per tonne of
gold, exceeding the target of 150 grams per tonne achieving maximum
price within the agreed terms within the offtake agreement. Modest
amounts of gravity gold Dore was also produced and sent to refiners
this month for further treatment.
Scotgold is encouraged with the mine and process plant
performance, although performance has been intermittent to date. On
given days throughout April and May both the mine and process plant
have been achieving near design rates of production. The Company is
also pleased with the quality of ore that has been mined and
produced through the process plant.
Scotgold's focus is to further enhance safe production through
consistency and stability of mine and process plant operations in
parallel with the opening of multiple faces of ore in the
underground mine itself. The current limited available number of
ore faces does limit our immediate ability to focus on the
highest-grade ore zones of the Cononish ore body. Having proved
that the mine and processing plant can operate as designed, our
focus is on reducing outages through more efficient management of
spares and having further redundancy in our mining mobile fleet
with the arrival of the second haulage DUX truck.
The company expects to inform the market through regular monthly
updates going forward, where a focus on forward looking statements
is expected including the ramp-up of production and new estimates
for calendar year 2021 gold production.
This announcement contains inside information for the purposes
of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it
forms part of UK domestic law by virtue of the European Union
(Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with
the Company's obligations under Article 17 of MAR.
For further information please contact:
Scotgold Resources SP Angel Corporate Finance St Brides Partners
Limited LLP Financial PR
Chief Executive Officer Nomad and Broker Susie Geliher / Frank
Philip Day Ewan Leggat / Charlie Buhagiar
Bouverat
Tel: +41 791 390 354 Tel +44 (0) 20 3470 0470 Tel +44 (0) 20 7236
1177
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
DRLKFLFXFELBBBV
(END) Dow Jones Newswires
June 01, 2021 02:00 ET (06:00 GMT)
Scotgold Resources (LSE:SGZ)
Gráfica de Acción Histórica
De Feb 2024 a Mar 2024
Scotgold Resources (LSE:SGZ)
Gráfica de Acción Histórica
De Mar 2023 a Mar 2024