SGZ 0.00% 0.8¢ scotgold resources limited

News: Scotgold Resources looks back on busy quarter

  1. A new mineral resources estimate at the Cononish project in Argyll, Scotland, was the highlight of Scotgold Resources’ (ASX:SGZ, LON:SGZ) fourth quarter report.

    Using a cut-off grade of 3.5 grams per tonne (g/t), the measured and indicated resource estimate tripled from the 2004 estimate to 248,000 ounces.

    Looking back on the final quarter of 2014, the company also noted that, subject to a legal rubber stamping, all five of the company’s options in the highly prospect Dalradian sequence in the south western Grampians of Scotland have been renewed, albeit subject to a reduction in area in the Inverliever option area.

    The company will update shareholders of the exact terms when the form of the agreements are finalised.

    At the end of 2014, the company had A$639,406 in cash, down from A$670,330 at the beginning of the quarter.

    Since the end of 2014, the board of the Loch Lomond and Trossachs National Park has voted unanimously to give Scotgold the right to mine round the clock six days a week at the mine.


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