Milestone for miner
Scottish gold mine in deal with jewellery makers
Jewellery using Scottish gold will soon be available following a deal signed by the country’s only miner and two manufacturers.
Scotgold Resources, which mines near Loch Lomond, has unveiled a sales agreement with two of Scotland’s top jewellery makers.
The deal covers the first refining batch (approximately 16oz) of Scottish Gold made available for jewellery (and only the second refining batch produced to date) from the Cononish Gold and Silver Mine.
Baird & Co, the appointed refiner, and the Edinburgh Assay Office will verify the Scottish Gold’s provenance through a closely monitored chain of custody.
Overall management of these negotiations was undertaken by The Dragonfly Initiative as Scotgold’s appointed consultant to manage the marketing and commercialisation of the company’s Scottish Gold.
Whilst all the parties have agreed to keep the precise terms of the sale confidential, the premium received was in excess of the 30% reserve stipulated for the Scottish Gold Rounds, auctioned in November 2016.
In addition to setting out the commercial terms for this first sale to the Scottish jewellery industry, the sales agreement includes detailed conditions for the use and marketing of the Scottish Gold, which are designed to protect the branding of this rare and precious commodity and will form the basis of all such future sales.
On delivery of the Scottish Gold and the production of the first unique pieces, the two authorised jewellers will make further announcements as to where and how these pieces can be obtained.
Scotgold CEO, Richard Gray said “This is yet another pleasing milestone and validates our belief in the strength and value of combining Scottish Gold of proven provenance with the skill and prestige of the Scottish jewellery industry.”