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.