Tillkännagivande • Nov 08
Scotgold Resources Limited Announces Resignation of Nathaniel (Nat) Le Roux as Director Nathaniel (Nat) le Roux has notified the Board of his resignation as a Director of Scotgold Resources Limited and its subsidiary companies with immediate effect. Tillkännagivande • Sep 20
Scotgold Resources Limited Announces Mining Review Update Scotgold Resources Limited announced an update on the Mining Plus review of the Cononish mine plan for the next twelve months, encompassing a geological review of the Cononish Mine mineral resource estimate and grade control process, mine design, schedule and production forecasts stating that Initial findings have been fed back to the Board. The Company further stated that while the Geological data and documentation suggested 'no fatal flaws' in the MRE and GC modelling process, the draft mine plan and associated cash flow forecasts are currently being reviewed by the Company, but they indicate that to deliver to the plan, a significant capital investment is required. The Company is actively seeking additional financing and discussions are in an advanced stage and, should they materialize, are expected to provide sufficient funding for the Company to continue as a going concern. The outcome of the funding discussions is highly uncertain and if the Company cannot conclude a significant fund-raise, it will cast material uncertainty for the Company to continue as a going concern. The updated mine plan and associated schedule till July 2025, revised on 14 September 2023, has been received and remains under internal review. The revised mine schedule was developed using the latest grade control model and focusses on the transition to sustainable and top-down Long Hole Open Stoping. The philosophy to focus on transitioning to sustainable top down LHS is initially heavily development intensive, with the bulk of development scheduled over the next 6 to 9 months. Mine development over the next 6 - 9 months priorities: Reaching levels beyond the 445L (replacing the lost ore from the 430 Level) and accessing new top down LHS areas above 445L. The ability to transition away from LHS with waste fill to fully top down LHS method without fill enables key efficiencies and cost reductions to be delivered. Development of the return air way to improve mine ventilation further enhancing the mine development. Delivery on the key power and ventilation capital upgrades. To achieve this mine development, power and ventilation upgrades will require significant capital investment. The board have requested site management to review key productivities and timing of capital infrastructure delivery and commissioning, in order to combine and sequence the mine development philosophy into a fully integrated operational plan. The Board will also commission a review into the circumstances surrounding the initial power upgrade completed in 2022 and what implications this may have had for the achievement of the 2023 mine plan. Scotgold will continue to provide updates on the progress of the mine design and planning. Tillkännagivande • Jun 14
Scotgold Resources Limited Appoints Maurice Mason as Non-Executive Director Scotgold Resources Limited announced that Maurice Mason has been appointed as a non-executive director with immediate effect. Mr. Mason has over 20 years' experience within the mining industry. He has previously held roles in Anglo American, where he was responsible for supply chain optimisation and procurement project delivery across the group's commodity profile. He is currently the Vice President of Corporate Development at Caledonia Mining Corporation Plc, a gold producer whose primary asset is in the Blanket Mine in Zimbabwe. Before joining Caledonia, Maurice was a securities analyst focussing on the mining sector. Tillkännagivande • Jun 07
Scotgold Resources Limited Appoints Sean Duffy as Interim CEO Scotgold Resources Limited announced that Sean Duffy, the Company's CFO and Board Director, has been appointed as interim CEO with immediate effect, whilst remaining as CFO. Sean Duffy has extensive experience in the mining industry supporting multinational and junior mining companies develop and expand operations through construction and into production. A career spanning +25 years, Mr. Duffy held senior finance positions for BHP Billiton's global operations, including Finance Director and interim CEO of BHP Billiton Indonesia, overseeing management of its multi-stage coal operations. Previously Sean was CFO and Company Secretary for ASX and UK-listed Adriatic Metals Plc, TSX-V and ASX-listed Black Dragon Gold and for TSX-V-listed Asian Mineral Resources and was CFO and Company Secretary for AIM-listed Anglo Asian Mining Plc, supporting Anglo Asian Mining with early-stage gold production from its Gedabek mining operation in Azerbaijan, building the operation into a circa 50,000 ounce per annum producer during his tenure. Tillkännagivande • Jun 03
-Scotgold Resources Limited Provides Operational Update As announced on 15 May 2023, Scotgold Resources Limited, Scotland's first commercial gold producer, commenced long hole stoping, along the 115m strike length in the underground mine at its Cononish gold and silver mine ('Cononish'). Long hole stoping on block 1 was safely completed on time. Drilling of stope block 2 has now commenced with blasting targeted for around a week'stime. The raise air vent to establish better air ventilation between the 400 and 415 level has also been completed. In parallel the waste ramp development to the 445 level was also completed, this allowed development mining on the 445 East level ore body to commence. The 445 East level development ore currently being fed to the process plant is good gold grade ore, in line with expectations, with an average grade of 8.3g/t, with the last three assays coming in at 13.7g/t, 12.9g/t and 16.9g/t respectively. Tillkännagivande • Jun 01
Scotgold Resources Limited Announces Resignation of Phil Day as Chief Executive Officer Scotgold Resources Limited announced that Phil Day has notified the board of directors of his intention to resign as Chief Executive Officer ("CEO") of Scotgold, and given notice under his contract of employment, citing a desire to spend more time with his family members in Australia. The Board has reluctantly accepted his resignation. The process of recruiting a permanent successor will begin immediately and Phil Day remains in post at this time. Tillkännagivande • May 16
Scotgold Resources Limited has completed a Follow-on Equity Offering in the amount of £2.009789 million. Scotgold Resources Limited has completed a Follow-on Equity Offering in the amount of £2.009789 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 3,333,333
Price\Range: £0.15
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 10,065,262
Price\Range: £0.15
Transaction Features: Rights Offering Tillkännagivande • Feb 12
Scotgold Resources Limited has completed a Follow-on Equity Offering in the amount of £2.5 million. Scotgold Resources Limited has completed a Follow-on Equity Offering in the amount of £2.5 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 1,435,000
Price\Range: £0.4
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 4,815,000
Price\Range: £0.4
Transaction Features: Regulation S; Subsequent Direct Listing Tillkännagivande • Dec 30
Scotgold Resources Limited, Annual General Meeting, Jan 19, 2023 Scotgold Resources Limited, Annual General Meeting, Jan 19, 2023, at 09:00 Coordinated Universal Time. Tillkännagivande • Dec 23
Scotgold Resources Limited Auditor Raises 'Going Concern' Doubt Scotgold Resources Limited filed its Annual on Dec 21, 2022 for the period ending Jun 30, 2022. In this report its auditor, BDO LLP, gave an unqualified opinion expressing doubt that the company can continue as a going concern. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 7 non-independent directors. Company Secretary & Independent Non-Executive Director Richard Barker was the last independent director to join the board, commencing their role in 2017. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Tillkännagivande • Sep 22
Scotgold Resources Limited Revises Production Guidance for the Third Quarter Ending September 30, 2022 and Provides Production Guidance for the Fourth Quarter of 2022 Scotgold Resources Limited revised production guidance for the third quarter ending September 30, 2022 and provided production guidance for the fourth quarter of 2022. Third quarter of 2022 revised production guidance of approximately 2,000 ounces of gold (previous guidance of 2,900 to 3,500 ounces of gold) due to the successful but delayed commissioning of the power and ventilation project, delaying mine development on the waste ramp which allows access to cut and fill stope 3.Fourth quarter of 2022 production is expected to be in line with mine plan and significantly ahead of second quarter /third quarter 2022 production and achieve Optimisation Phase Production run rate of approximately 16,000 ounces p.a. of gold. This is a significant step towards achieving Phase 2 production levels of 23,500 ounces p.a. run rate of gold as planned by end of first quarter of 2023. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 7 non-independent directors. Company Secretary & Independent Non-Executive Director Richard Barker was the last independent director to join the board, commencing their role in 2017. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Recent Insider Transactions • Jan 19
Non-Executive Chairman recently bought UK£116k worth of stock On the 14th of January, Peter Hetherington bought around 150k shares on-market at roughly UK£0.77 per share. This was the largest purchase by an insider in the last 3 months. This was Peter's only on-market trade for the last 12 months. Tillkännagivande • Jan 16
Scotgold Resources Limited Announces Production Guidance for the First Quarter of 2022 Scotgold Resources Limited announced production guidance for the first quarter of 2022. For the quarter, the company reported production guidance range of 1,400 to 2,200 ounces of gold. Tillkännagivande • Sep 03
Scotgold Resources Limited Provides an Update on Mine Production and Processing Performance at Cononish Gold and Silver Project in Scotland Scotgold Resources Limited provided an update on mine production and processing performance at the Cononish Gold and Silver Project in Scotland, during August 2021. Mining activity at Cononish continued uninterrupted during August, remaining focussed on the high-grade area of the vein and necessary development to access future reserves. As previously stated, the Company has adopted a vertical cut and fill stoping method, as the ore grade continuity is better vertically. This is as an interim measure prior to the long term production plan predicted to commence in 2022. This method allows vertical extraction of ore using familiar mining methods to the Scotgold mining team and allows geological control to minimise dilution. Scotgold is very pleased with this adaptation to the short term mine plan as it has delivered continuous high grade gold ore to the process plant in this critical ramp up phase of the mine. As previously reported, a second DUX truck has been ordered and is now expected to arrive in early September. It will be immediately deployed underground and is expected to further reduce the operational risk by providing additional redundancy alongside providing the opportunity to increase the amount of material hoisted. Furthermore, the Company continues to focus on critical and necessary spares for maintenance to achieve target availability for mining and the process plant and to eliminate time wastage. Based on the continually improving tonnages and combined with the average >12g/t gold grade expected over the following months in 2021, the Company is assessing an upward adjustment to the previously referenced mine plan and further updates will be announced once the Cononish mine plan has been finalised. The Scotgold processing plant team has successfully focussed on the de-bottlenecking of the tailings filter through the optimisation. This is a significant achievement which will support the continued upward trajectory of Scotgold's production profile targeting processing capacity of 4,000 tonnes per month. Following the completion of the debottlenecking process, expected in September, gravity circuit optimisation will occur, supporting gold doré production which commands a premium price. The processing plant operated for 25 days during the month of which the last 21 days feed rate averaged 90 tonnes per day. The monthly feed rate estimate for August is between 2,100 and 2,200 tonnes (70% to 73% of design for full month). This included an unplanned six-day shutdown from 4th-10th August, these planning issues have now been addressed and unnecessary shutdowns will now be avoided. Just over 50 tonnes of concentrate were produced in August at an average of 333g/t Au per tonne, equating to >450oz of contained gold and >1,900oz of contained silver total production for the month. Production revenues have exceeded operating costs for the first time in Scotgold history. The company continues to focus on the recruitment of personnel to further bolster Scotgold's highly trained workforce. The management team is specifically looking to build the Company's workforce with additional mining and processing plant operatives, as well as purchasing and warehouse staff. This recruitment and training programme is being conducted in parallel with a cost rationalisation exercise to minimise excess expenditure with a focus on reducing external contractors and targeting fixed costs. A comprehensive systems review is underway for a fully integrated Enterprise Resource Planning system with a focus on efficiency and real time reporting. This is intended to eliminate a lot of double handling and manual processes and to streamline asset management, inventory controls, workflow and full procurement to pay into efficient finance module and reporting. Tillkännagivande • Jul 03
Scotgold Resources Limited Provides Production Update Scotgold Resources Limited provide an update on mine production and processing performance at the Cononish Gold and Silver Project in Scotland, ('Cononish'). Mining: high grade ore zones accessed far quicker than anticipated. As previously stated, Scotgold's dual focus is to further enhance safe production through consistency and stability of mine and process plant operations in parallel with the opening of multiple faces of ore in the underground mine itself. During the month, the successful roll-out of this strategy has enabled the Company to optimise the mine design allowing access to higher grade ore zones far quicker than anticipated. Mining in the latter part of June was accessing ore which peaked at 40 grammes per tonne. Mining in this general zone will continue for 2 months and expected to achieve a blended grade average above 10 grammes per tonne. Mining activity continued uninterrupted throughout June, increasing the volume of ore stored on the stockpile. The haulage DUX truck repairs conducted last month in combination with regular maintenance has enabled expected utilisation of mining equipment to be achieved. Is New 90 Day High Low • Feb 25
New 90-day low: UK£0.73 The company is down 39% from its price of UK£1.20 on 27 November 2020. The British market is up 7.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Metals and Mining industry, which is up 25% over the same period. Is New 90 Day High Low • Feb 03
New 90-day low: UK£0.82 The company is down 29% from its price of UK£1.16 on 04 November 2020. The British market is up 12% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Metals and Mining industry, which is up 27% over the same period. Tillkännagivande • Jan 31
Scotgold Resources Limited Provides Update on its Progress Ramping Up Production Scotgold Resources Limited provided and update on its progress ramping up production at its newly commissioned Cononish Gold and Silver Mine in Scotland, ("Cononish Mine"), as well as its exploration activities on the Cononish Project, ("Cononish") and Grampian Project, ("Grampian"). The Company's ongoing exploration programme is focused on increasing the Mineral Resources in the area around the Cononish Gold and Silver Mine where first gold pour was achieved on 30 November 2020, further delineating existing prospects, and making new discoveries. Teething problems encountered during this ramp up period have focussed in 3 key areas, namely crusher circuit chokes, flotation circuit pumps and filter press controls. The crushing circuit has been designed to handle the full Phase 2 production rate of 15tph, and short runs during commissioning have demonstrated this is achievable. The nature of the Cononish ore however is such that it frequently breaks into thin flat "slabs" and at various points in the circuit where there are "pinch point" in chutes etc., these slabs are prone to bridging and creating blockages. A programme is now underway to modify the identified pinch points and permanently resolve these problems. Five Positive Displacement (PD) pumps have been installed to move various products between to the two banks of flotation cells which comprise the flotation circuit. It was identified during commissioning that some of the pumps were under sized and this resulted in significant spillage. More recently it has also become evident that this type of pump suffers from extremely high wear rates with the Cononish mine material. A trial using a vertical spindle pump previously used on the Bulk Processing Trial plant has shown that this is the appropriate pump for this application, and a programme is now underway to source and replace all the remaining PD pumps. Lastly, the filter press circuits (tailings and concentrate) which have complex automated cycles, suffered from numerous control system problems during commissioning. These have now largely been resolved by the suppliers and their agents and more minor materials flow issues are being addressed on an ongoing basis by operations team. Exploration Update: Since the last exploration update of 28 September 2020, Scotgold geologists have continued to utilise the Ionic Leach1 method as further detailed in the Company's RNS of 1 April 2019, both to stream sediment sampling and soil sampling programmes across its option areas. Subsequent exploration work has been focused on extending the soil sampling grid at Cononish as well as extensions to the soil sampling grids over Beinn Udlaidh and Inverchorachan prospects which lie within the Glen Orchy Central and Inverliever East option areas respectively. Additionally, geophysical data collected in 2018 and 2019 has been reprocessed, this includes magnetics, Induced polarisation dipole-dipole (IP) and historic Very Low Frequency (VLF). Regional Ionic LeachStream Sediment Sampling Programme: A total of 625 samples have now been collected as part of the regional stream sediment sampling programme. Samples have been collected from 10 of the 13 option areas, with encouraging results returned over several drainage catchments effectively identifying targets for further follow-up. Sampling is ongoing as well as follow up mapping in areas identified as anomalous (gold values in excess of the 90th percentile, >1.8 ppb). Ionic Leach Soil Sampling Programmes: Cononish: A further 174 samples have been collected to the north west of the existing Cononish grid (Newly sampled area 1), linking it with the Coire Nan Sionnach grid, to further define the two gold anomalies on the corners of the grid. Open-ended NE-SW trending gold anomalies at the southwestern extent of the Kilbridge grid were tested by an additional 108 samples that confirm the anomalous gold trend (Newly sampled area 2). Further sampling is planned in the 2021 field season to further define the extent of these NE-SW trending anomalies on the northwestern edge of the Kilbridge grid), southwestern edge of the Coire Nan Sionnach grid (Planned sampling 1) and northeastern extensions of the Cononish grid (Planned sampling 2). Beinn Udlaidh: Work previously reported on 28 September 2020 at the Beinn Udlaidh prospect identified multiple open-ended anomalies on all sides of the grid. In order to better evaluate the extent, dispersion and distribution of these anomalies, grid extensions were completed in 2020 and 466 samples were collected, (Newly sampled areas 1 to 4). The northeastern extension has highlighted an anomalous area interpreted to be associated with a NE-SW trending fault that extends into the Coire Ghamhnain. The anomaly in the south-western part of the grid is now seen to extend a further 500m to the SW and will require further extension of the grid to define this anomaly. The area to the south-east, where two highly anomalous areas were previously reported, are shown to be linked by a weaker gold and silver anomaly by most recent sampling. The continuation and open-ended nature of all of these anomalous results requires that the company continues to define these gold trends to better understand their significance and identify the associated structures. Further soil sampling is planned over the four areas outlined during the 2021 field season. Inverchorachan: Work previously reported on the 28 September 2020 at the Inverchorachan prospect has been extended to the north east. Results are reported for a total of 100 soil samples which indicate a weak or possibly plunging gold trend extenting to the north east, along strike with the Tyndrum fault. Further work is planned to the south west to investigate the currently unconstrained anomaly in this part of the grid as well as delineate the source of the anomalous areas defined by previous stream sediment sampling in the area. Is New 90 Day High Low • Jan 14
New 90-day low: UK£0.97 The company is down 18% from its price of UK£1.19 on 16 October 2020. The British market is up 14% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Metals and Mining industry, which is up 33% over the same period. Tillkännagivande • Dec 30
Scotgold Resources Limited, Annual General Meeting, Jan 29, 2021 Scotgold Resources Limited, Annual General Meeting, Jan 29, 2021, at 09:00 Coordinated Universal Time. Is New 90 Day High Low • Dec 29
New 90-day low: UK£1.00 The company is down 35% from its price of UK£1.53 on 30 September 2020. The British market is up 12% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Metals and Mining industry, which is up 25% over the same period. Is New 90 Day High Low • Dec 12
New 90-day low: UK£1.08 The company is down 8.0% from its price of UK£1.18 on 11 September 2020. The British market is up 8.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Metals and Mining industry, which is up 16% over the same period. Tillkännagivande • Dec 03
Scotgold Resources Limited Announces first Gold Pour at Cononish Scotgold Resources Limited announced that first gold was poured at the Company's high grade, low cost Cononish Gold & Silver Mine, ('Cononish') in the Scottish Grampian Mountains area. Following this first pour, which is a major milestone in the commissioning of the processing plant, the Company looks forward to ramping up production at Cononish to design level early in the New Year and taking its place as Scotland's first commercial gold mine. In line with its phased development programme, the Company is now focused on completing an accelerated expansion plan to increase production at the mine to 23,500oz pa. The current Phase 1 is targeting an annual rate of ore production of 36,000 tonnes and total gold production of 9,910oz in 2021. Phase 2 will focus on doubling the annual rate of ore production to 72,000 tonnes and a more than doubling in average annual gold production to 23,500oz. The Company is fully funded to achieve Phase 2 expansion by May 2022, 17 months from the commencement of Phase 1 production. Targeting highly attractive Life of Mine ('LOM') economics. A remodelling exercise incorporating the above accelerated expansion plan for Cononish and gold and silver prices of £1,400/oz and £19.23/oz respectively delivered highly attractive LOM economics. Tillkännagivande • Oct 13
Scotgold Resources Limited has completed a Follow-on Equity Offering in the amount of £3 million. Scotgold Resources Limited has completed a Follow-on Equity Offering in the amount of £3 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 2,727,273
Price\Range: £1.1
Transaction Features: Subsequent Direct Listing Tillkännagivande • Sep 30
Scotgold Resources Limited to Update Exploration Activities on the Cononish Project and Grampian Project, in Scotland Scotgold Resources Limited to update shareholders with regards to its exploration activities on the Cononish Project and Grampian Project, in Scotland. These are focused on increasing the Mineral Resources in the area around the Cononish Gold and Silver Mine, which is on course to become Scotland's first commercial gold mine by 30 November 2020; advancing the gold and silver anomalies identified at Beinn Udlaidh and Inverchorachan; and making new discoveries over the Company's extensive Option Area on the Dalradian belt. Subsequent exploration work has been focused on extending the soil sampling grid at Cononish as well as extensions to the soil sampling grids over the Beinn Udlaidh and Inverchorachan prospects, which lie within the adjacent Glen Orchy Central and Inverliever East option areas respectively. Additionally, the regional stream sediment sampling programme has continued, with samples collected from within 10 of the 13 option areas. Ionic Leach Soil Sampling Programmes: Cononish: The existing grid at Cononish, reported on 28 August 2019, has been successfully extended to the north east. A total of 146 samples were collected in an attempt to confine and further define open-ended anomalies identified in previous soil sampling. Further gold and silver anomalies (figure 1), have been identified to the north east of the Cononish Mine which are consistent with the 'Mother Vein' structure. Further sampling is planned over the northeast part of the Cononish grid, with extensions across Kilbridge and Coire Nan Sionnach to link the grids and assess the extent, dispersion and distribution of currently open-ended anomalies. Beinn Udlaidh: Work previously reported on 15 January 2020 at the Beinn Udlaidh prospect identified multiple open-ended anomalies on all sides of the grid. In order to better assess the extent, dispersion and distribution of these anomalies, the grid has been extended to the north east, south east, south west and north west. Results are reported for 147 samples collected to the south east of the existing grid (figure 2). This extension has highlighted an anomalous area where the higher Au value seen at the prospect so far was collected of 15.15 ppb (compared to previous high of 9.06ppb). The higher Ag value seen from this part of the grid was 52.4 ppb (compared to previous high of 89.9ppb). Further work is planned to the south to define this newly identified anomalous area. Results from a further 357 samples collected in the aforementioned areas are awaited and will be reported in due course. Inverchorachan: Work on this grid previously reported on 15 January 2020 at the Inverchorachan prospect has been extended to the south west and north east, where the previously identified Au anomaly was open along strike in both directions. Results are reported for a total of 232 soil samples that were collected to the south west of the existing grid. Promising results from the south west extension exhibit an increased number of more discrete anomalies, rather than the large more uniform anomaly previously identified in the core area (figure 3). Anomalous values from the extension report encouraging values of 22 ppb Au and 44 ppb Ag. The grid remains open to the south west, and further sampling is planned to constrain the anomaly. Results are awaited by the Company for a further 100 samples that have been collected to the north east and will be reported in due course. Regional Ionic Leach Stream Sediment Sampling Programme: A total of 508 samples have now been collected as part of the regional stream sediment sampling programme this year. Samples have been collected from 10 of the 13 option areas with encouraging results returned over several drainage catchments effectively identifying targets for further follow-up. Sampling is ongoing as well as follow up mapping in areas identified as anomalous. Is New 90 Day High Low • Sep 28
New 90-day high: UK£1.31 The company is up 84% from its price of UK£0.71 on 30 June 2020. The British market is down 4.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is up 3.0% over the same period. 
