New method of processing
Miner to extract more gold from Scottish rock
Scotgold has been working with SGS and Wheal Jane Laboratory on a new thermal process which can increase the quantity of gold extracted.
The company says it will be able to supply greater volumes of gold of proven provenance to the Scottish jewellery industry in the next phase of its marketing strategy.
Richard Gray, chief executive, said: “”We continue to find opportunities to improve the bulk processing trial (BPT) and, more importantly, the ultimate development plan for the Cononish Mine.
“The technical work to verify these potential opportunities is ongoing and we anticipate an update in Q1 2017.”
Scotgold also announced that it is to sell up to 120 tonnes of gold-rich pyrite concentrate to a Dutch firm for an undisclosed amount.
The shipment to Ocean Partners will take place once the appropriate logistics have been put in place.
It is currently sitting on around 13.5 tonnes of pyrite concentrate, which is estimated to contain 91oz of the precious metal.
Shares were up 14% in early trading on Tuesday.
Photo: Richard Gray (by Terry Murden)