Scotgold is mining a rich seam

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SHARES in Scotgold Resources, the Aim-quoted firm set to open Scotland’s only commercial gold mine near Tyndrum, jumped by more than 8 per cent yesterday after planning permission was confirmed.

The Loch Lomond and the Trossachs National Parks Authority had recommended permission was granted for the development of the Cononish site in October.

Discussions have been taking place since then on a number of conditions including of financial guarantees totalling some £2 million over future restoration and conservation of the site.

It is thought gold worth more than £100m could be extracted from the mine. Last month, the firm also said it was encouraged by exploratory tests in another area five kilometres from its main project.

Shares in Scotgold closed up 0.38p at 5p, valuing the company at just under £10m.