Scotgold Resources Ltd Approval of Variation of Planning Permission (1354D)
January 26 2015 - 7:41AM
UK Regulatory
TIDMSGZ
RNS Number : 1354D
Scotgold Resources Ltd
26 January 2015
26 January 2015
SCOTGOLD RESOURCES LIMITED
APPROVAL OF VARIATION OF PLANNING PERMISSION
Scotgold Resources Limited ('Scotgold or 'the Company') is
pleased to announce that the Board of the Loch Lomond and the
Trossachs National Park has voted unanimously to approve the
Company's application to vary Condition 13 (relating to hours of
operation of the processing plant and work on site) of the existing
planning permission for the development of the Cononish gold mine.
This approval is subject to the finalisation of the relevant legal
agreement which is expected to be concluded shortly. As a variation
to a condition of the existing consent, this approval also has the
effect of extending the date by which development should commence
to Jan 2018, although management are optimistic to be in production
before that date.
The variation provides for a change to the hours of work
permitted for the operation of the processing plant to a 24/6 basis
(excluding Sundays and public holidays) compared to the previously
permitted 16/6 basis (excluding Sundays and public holidays and
will facilitate efficient plant operations and possible capital
expenditure reductions in respect of the processing plant.
The Company and its agents have again enjoyed a close working
relationship with the National Park Authority, and would like to
acknowledge the assistance and guidance from the National Park
Authority, their advisers and other consultees; whose constructive
and collaborative approach has greatly assisted the preparation of
the variation. The Company would also like to acknowledge the
continued support of the community in the Strathfillan area.
Scotgold CEO, Richard Gray said "This approval represents a
significant step towards the realisation of our vision for the
responsible development of a commercial operating gold mine in
Scotland and demonstrates the robustness of the planning process.
Scotgold is now focused on the completion of the optimised mine
development plan and securing the necessary funding for the
construction of the project. Today's decision in conjunction with
the recently released resource update for the Cononish project
means we are now well placed to achieve our objectives."
Enquiries to:
United Kingdom:
Scotgold Resources Limited Westhouse Securities Limited Capital Markets Consultants
Richard Gray
Chief Executive Officer Martin Davison Simon Rothschild
Tel: +44 (0)7905 884 021 Tel: +44 (0)20 7601 6100 Tel +44 (0)7703 167 065
This information is provided by RNS
The company news service from the London Stock Exchange
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