Phil Day has resigned as chief executive of Scotgold Resources, operator of the gold mine near Loch Lomond, saying he wants to return to his family in Australia.

The board said it has reluctantly accepted his resignation and has begun the process of recruiting a permanent successor. Mr Day will remain in post.

He said: “I am very pleased with what we as a team have accomplished during my time as CEO. It has been a privilege to lead and develop the business. The company’s team and board are its greatest asset and I want to express my gratitude for their contribution.”

Peter Hetherington, chairman, said: “On behalf of Scotgold’s board of directors, I thank Phil for his dedication, unwavering support and very significant contribution to the company.

“Under his calm and steady leadership, since April 2021, Phil has guided the Cononish mine to safe and environmentally compliant commercial production, redesigned the mine schedule, implemented cut and fill stoping for faster access to higher grade zones, commenced long hole stope mining and ramped up the process plant for optimal continuous operation.

“Significant challenges obviously remain for Scotgold. We as a board have a duty of care to all team members and respect Phil’s request for the time and space away from CEO PLC duties, with his family in Australia. 

“We remain committed to all stakeholders and the ongoing development and production from Cononish, Scotland’s first commercial gold mine and will update the market in due course on the new CEO appointment.”