Scotgold Resources Ltd First Scottish Gold Sale (3504H)
June 07 2017 - 2:00AM
UK Regulatory
TIDMSGZ
RNS Number : 3504H
Scotgold Resources Ltd
06 June 2017
Wednesday 7 June 2017
SCOTGOLD RESOURCES LIMITED
(The "Company" or "Scotgold")
First Scottish Gold Sale to Jewellery Industry
Agreed
Scotgold Resources Ltd is delighted to announce that a sales
agreement has been signed with two of Scotland's preeminent
manufacturing jewellers. This agreement covers the first refining
batch (approximately 16oz) of Scottish Gold made available for
jewellery (and only the second refining batch produced to date)
from Scotgold's Bulk Processing Trial (BPT) at the Cononish Gold
and Silver Mine.
The agreement involves significant input from both Baird &
Co, as the appointed refiner and the Edinburgh Assay Office who
will verify the Scottish Gold's provenance through a closely
monitored chain of custody. Overall management of these
negotiations was undertaken by The Dragonfly Initiative as
Scotgold's appointed consultant to manage the marketing and
commercialization of the company's Scottish Gold.
Whilst all the parties have agreed to keep the precise terms of
the sale confidential, the premium received was in excess of the
30% reserve stipulated for the Scottish Gold Rounds, auctioned in
November 2016.
In addition to setting out the commercial terms for this first
sale to the Scottish jewellery industry, the sales agreement
includes detailed conditions for the use and marketing of the
Scottish Gold, which are designed to protect the branding of this
rare and precious commodity and will form the basis of all such
future sales.
Upon delivery of the Scottish Gold and the production of the
first unique pieces, the two authorised jewellers will make further
announcements as to where and how these pieces can be obtained.
In addition to the production of Scottish Gold, the BPT
continues to produce gold in the form of Pyrite concentrate, of
which approximately 53 WMT have been shipped and sold under the
previously announced agreement with Ocean Partners (November
2016).
Scotgold CEO, Richard Gray said "This is yet another pleasing
milestone and validates our belief in the strength and value of
combining Scottish Gold of proven provenance with the skill and
prestige of the Scottish jewellery industry".
For further information please contact:
Scotgold Resources Stockdale Securities Capital Markets Smaller Company
Limited Limited Consultants Capital
Ltd
------------------- --------------------- ----------------- ----------------
Richard Gray Robert Finlay/ Simon Rothschild Rupert Williams
- CEO Ed Thomas
------------------- --------------------- ----------------- ----------------
Tel: +44 (0)1838 Tel: +44 (0)20 Tel +44 (0)7703 Tel: +44
400 306 7601 6100 167 065 (0)20 3651
2911
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Forward Looking Statement
Statements regarding plans with respect to the Company's mineral
properties are forward-looking statements. There can be no
assurance that the Company's plans for development of its mineral
properties will proceed as currently expected. There can also be no
assurance that the Company will be able to confirm the presence of
additional mineral deposits, that any mineralisation will prove to
be economic or that a mine will successfully be developed on any of
the Company's mineral properties.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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