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Scotgold Resources Ltd.
Summary
| Project: | Cononish | |
|---|---|---|
| Deposit: | Cononish | |
| Location: | Scotland | |
| Commodities: | Gold-Silver | |
| Date: | 3/15/2017 | |
| Report Code: | (no Code) | |
| Report Type: | Feasibility Study | |
| Project Stage: | Mine Development | |
| Report details: | 15-3-2017: Scotgold Resources Ltd. announces a Feasibility Study report for its Cononish deposit at the Cononish project. Bankable Feasibility Study results incl. post-tax NPV (10%) of £43m, IRR of 45%, LOM of 9 years . The Company is pleased to announce | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Pat Willis (Bara Consulting Ltd.) | |
| ABSTRACT: | The Company is pleased to announce the results of a recently completed update to the Bankable Feasibility Study, completed in August 2015. We have completed a review of our development strategy and we have, after considering a number of alternative production schedules, selected the Phased Project scenario as the most favourable overall under current economic conditions. While undertaking this work we have also taken advantage of revising the TSF resulting in a more practical, lower capex (albeit a higher opex) and reduced environmental impact dry stack design. This has resulted in a much reduced peak funding requirement. The necessary revisions to the permitting requirements are underway and we expect final permission for underground development work to be granted by Q1 2018. Subject to permitting and securing the necessary finance, we expect to commence work underground in Q2 2018 and to reach a sustainable First Phase 3,000 tpm by early 2019. The Second Phase increase to 6,000 tpm will be self-funded and is scheduled to be achieved by Q3 2021. A new planning application will be required for the revised development plan and the Company has commenced the "Pre Application Consultation" process with the Loch Lomond and the Trossachs National Park Planning Authority. It is anticipated that the full planning process should be completed by the end of 2017. | |
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