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Scotgold looks to extend Tyndrum mine life


Gold mining could be extended around Cononish

Gold explorer Scotgold said there is potential to extend the current eight and a half year life of its Cononish mine near Loch Lomond to 18+ years and to develop other nearby sites.

It hailed “significant” progress at the near Tyndrum mine as it announced a loss of about $5 million (£3.7m) in the year to 30 June, compared to $2.5m in the prior 12-month period.

The company unveiled its “vision to build a multi-asset gold-production company in Scotland”, and said three prospective areas close to Cononish have been identified as high-priority target areas with further analysis regarding their suitability under way.

Chief executive Phil Day said December production “currently looks to be another step-change higher than previous months”.

“I’m excited for 2022 and I’m confident it will be a year of continued growth for the company,” he said.

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