Final stage of Cononish permitting taking longer than planned – Scotgold
The permitting process for the gold and silver mine that Scotgold is seeking to develop near the Loch Lomond and Trossachs National Park, in Scotland, is taking longer than planned, Aim-listed Scotgold reported on Monday.
The company said that all substantive matters relating to the issuing of the permit had been progressed with the National Park Authority, but that various third parties still had to agree. Scotgold said that it was hopeful that these agreements would be concluded soon and that the company would have a decision notice in hand by the end of September.
"Although this final stage of the permitting process is taking longer than anticipated, we continue to make what preparations we can for the final development phase. Once the decision notice is received we will assess the impact of these early preparations on the project schedule and provide further guidance on the expected date for first gold production. It is important to note that although frustrating, this delay will not have a material effect on the company's funding position and we continue to look forward to anticipated gold production and cash flow in 2019," said CEO Richard Gray.
Scotgold has appointed Fairport Engineering as the client engineer to advance the tendering process with regards to the processing plant and the company is in advanced discussions with suppliers of the relevant mining equipment.
At full capacity, the mine will produce about 23 500 oz/y.
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