Scottish gold to hit shelves ‘in months’ says miner

Scotgold boss Richard Gray is focused on securing finance to develop the firm's Cononish mine. Picture: John Devlin

Scotgold boss Richard Gray is focused on securing finance to develop the firm's Cononish mine. Picture: John Devlin

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The company developing Scotland’s first commercial gold mine said its precious metal will be sold into the jewellery trade “within months”.

Scotgold Resources also told investors today that it was focused on raising the finance needed to push ahead with its Cononish project near Tyndrum.

• READ MORE: Scotgold Resources reveals lower first-half losses

The Aim-quoted firm, which has secured a £1 million loan from chairman Nat le Roux, said a trial at the site has processed some 2,600 tonnes of material since May of last year, producing an average of 6.3 grams of gold per tonne, lower than the 7.9g estimated to be contained in its stockpile.

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But chief executive Richard Gray said the trial “continues to meet its primary objectives” and is generating “valuable operational experience”.

• READ MORE: Scotgold cheers ‘significant’ boost to mine plans

He added: “Scottish gold will be sold to the jewellery trade in the coming months. Whilst we continue to optimise the bulk processing trial operations, our key focus now is securing the much reduced finance needed to put our mine into commercial production.”

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