Scotgold submits new planning application

SCOTGOLD Resources, the firm whose plans to open a gold mine near Tyndrum have been riddled by delays, has submitted a notice for its second, revised planning application.

In its quarterly report, published yesterday, the Aim-listed firm revealed that it submitted a formal notice of its intention to re-apply for planning permission on 22 December.

Scotgold's first application was rejected last summer amid several environmental concerns. However, it has since held a number of meetings with the authority board of the Loch Lomond and the Trossachs National Park to find a solution to some of the board members' concerns.

The firm said yesterday that it believed "encouraging progress is now being made". Scotgold chairman John Bentley had previously told The Scotsman that he hoped to submit a second formal application by the end of March.

Following an uncertain few months for its flagship project at Cononish, Scotgold recently announced that it has found gold in another area, at Auch.

It was also boosted last month after it raised just over 616,000 from a Channel Islands-based investment trust.

The firm has lodged an appeal with Scottish ministers over the surprise rejection of its first application but said yesterday that this was only to "preserve" its position.

Scotgold also revealed that its cash position at the end of last year stood at A$1,100,757 (688,596).