Scotgold Resources Ltd Production and Corporate Update (1603H)
02 Agosto 2021 - 1:00AM
UK Regulatory
TIDMSGZ
RNS Number : 1603H
Scotgold Resources Ltd
02 August 2021
2 August 2021
Scotgold Resources Limited ('Scotgold' or the 'Company')
Production and Corporate Update
Scotgold Resources Limited (AIM: SGZ), the gold exploration and
production company focused on Scotland, is pleased to provide an
update on mine production and processing performance at the
Cononish Gold and Silver Project in Scotland, ('Cononish') during
July 2021.
Mining: high grade ore being mined as planned
Mining activity continued uninterrupted throughout July in the
high grade area of the mine as planned. Scotgold's dual 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.
Mining activities further increased the volume and, importantly,
the quality of ore stored on the stockpile. The ore thickness is
wider than anticipated producing more high grade ore from this cut
and fill section.
Our second DUX truck is expected to arrive at the end of August
and is expected to be available for use in September, greatly
reducing the risk to our operations with expected utilisation of
mining equipment to be achieved.
Processing : continuous operations expected following risk
analysis
As part of the Risk Analysis approach implemented by the
Company, the process plant was taken offline several times
throughout July to conduct further proactive inspections of risk
areas to prevent future failures. This work proved useful in
identifying a number of preventative measures which has resulted in
the process plant having been in 24 hour operations since this work
was completed. This step change has seen the process plant average
over 90% of design throughput for the last 10 days of the
month.
Shipments: second gold concentrate shipment made
As planned, the process plant produced sufficient concentrate
throughout the month to allow another shipment of 25 tonnes of
concentrate, further strengthening our goal to achieve steady ramp
up in production.
Monthly updates
The Company expects to continue informing the market through
regular monthly updates, where a focus on more 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
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END
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