Scotgold Resources Ltd Results of First Scottish Gold Sales (4541Q)
November 29 2016 - 9:10AM
UK Regulatory
TIDMSGZ
RNS Number : 4541Q
Scotgold Resources Ltd
29 November 2016
SCOTGOLD RESOURCES
RESULTS OF FIRST SCOTTISH GOLD SALES
29(th) November 2016, Edinburgh
Scotgold Resources Ltd today held a successful auction in
Edinburgh of Scottish Gold; gold mined and processed at its
Cononish Gold and Silver Mine near Tyndrum. This Scottish gold is
the first gold ever mined commercially in Scotland. The gold was
sold in the form of "Rounds", each stamped with the Scottish Gold
Mark of the stag's head and bearing a unique serial number
corresponding to a chain of custody system certified by the
Edinburgh Assay Office.
The Gold Rounds have been minted by Baird & Co Bullion
Merchants and the sealed bid auction was supervised by the
accountancy and business advisory firm Scott-Moncrieff, with
consultancy firm The Dragonfly Initiative managing the marketing of
the gold pieces.
The successful bids were as follows:
ROUND NUMBER PURCHASER PRICE PAID
------------- ----------------- -------------
1 Graham Donaldson GBP21,003.03
------------- ----------------- -------------
2 Anonymous GBP3,754.00
------------- ----------------- -------------
3 Andrew Riley GBP3,000.00
------------- ----------------- -------------
4 Jennifer Riley GBP3,000.00
------------- ----------------- -------------
5 Pat Willis GBP2,650.00
------------- ----------------- -------------
6 Sheila Fleet GBP2,517.00
------------- ----------------- -------------
7 Anonymous GBP2,500.00
------------- ----------------- -------------
8 Brian Bell GBP2,500.00
------------- ----------------- -------------
9 Anonymous GBP2,355.00
------------- ----------------- -------------
10 Ingrid Anderson GBP2,300.00
------------- ----------------- -------------
The average price accepted was GBP4,557.9 per ounce, a premium
of 378% over the current spot price of GBP953.
Richard Gray, CEO of Scotgold, commented:
"This unique and historic event is the first demonstration of
our ability to attract a premium for Scottish Gold. The next
opportunity to show the continued support for this precious metal
from the Highlands will be the conclusion of agreements with
members of the Scottish jewelry trade, who appreciate the value
that can be added to their products by the proven provenance of the
stag's head Scottish Gold Mark. We expect to release news of these
sales in the New Year."
Scotgold Resources Stockdale Securities Capital Markets Vicarage
Limited Limited Consultants Capital Limited
------------------- --------------------- ----------------- -----------------
Richard Gray Robert Finlay/ Simon Rothschild Rupert Williams
- CEO Edward 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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This information is provided by RNS
The company news service from the London Stock Exchange
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