Scotgold Resources Ltd Cononish Development Activities Update (8456P)
June 12 2020 - 7:25AM
UK Regulatory
TIDMSGZ
RNS Number : 8456P
Scotgold Resources Ltd
12 June 2020
Scotgold Resources Limited
12 June, 2020
Scotgold Resources Limited
("Scotgold" or the "Company)
Cononish Development Activities Update and Phased Restart of
Construction in Scotland.
Scotgold Resources Limited (AIM:SGZ) is pleased to announce that
following the announcement relating to construction activities by
the Scottish Government yesterday, construction and development
activities will resume as of Monday 15(th) June2020 at the high
grade Cononish Gold and Silver Mine.
Since the previously announced curtailment of construction and
development on 27(th) March 2020, the Company has maintained a Care
and Maintenance crew on the site. This team, together with
management working remotely, has over the last two weeks also
focussed on the preparation of Safe Operating Practices (SOPs) and
installation of the additional site infrastructure necessary to
ensure work can resume in compliance with the latest Covid 19
guidance.
On Monday 15(th) June 2020 work will commence on the critical
path activities, most notably the construction of the process plant
building, and in parallel, the remaining earthworks will be
undertaken.
The mining team currently furloughed will be brought back
progressively over the next 2 weeks and refresher training and
familiarisation with the new SOPs undertaken. Underground
development on a single shift basis is expected to resume as from
1(st) July 2020.
Richard Gray, CEO commented: "There are obviously still
challenges ahead but we are excited to be moving the Cononish high
grade project forward again. The importance of this project to the
local economy and the employment it is creating in a post Covid 19
environment has never been clearer. Together with a bright outlook
for gold, the resumption of development is good news for all
stakeholders".
Certain information contained in this announcement would have
been deemed inside information for the purposes of Article 7 of
Regulation (EU) No 596/2014 until the release of this
announcement.
For further information please contact:
Scotgold Resources Limited Tel: +44 (0)1838 400
Richard Gray 306
SP Angel Corporate Finance Tel +44 (0) 20 3470
LLP 0470
Nomad and Broker
Ewan Leggat / Charlie
Bouverat
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END
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