SCOTGOLD Resources has received another boost in its bid to mine for gold in Argyll after it was granted permission to operate 24 hours a day at the Cononish site.

 

Loch Lomond and The Trossachs National Park voted unanimously to give Scotgold the right mine round the clock six days a week at the mine, except on Sundays and public holidays.

Until now it had planning permission to work for 16 hours a day, again excluding Sundays and public holidays.

The development comes shortly after a fresh study revealed the Cononish site contains more gold resources than previously estimated.

Chief executive Richard Gray said: "It's all bit by coming together. We are getting there so we are very pleased. It is a relatively minor amendment, but it goes to show we still have got the support of the park's board and that the process works to get these amendments made."

Asked when the company hopes mining activity will commence, Mr Gray said: "We are hoping to have the mining optimism study complete by mid-year.

"Obviously it depends how long it takes get the finance in place thereafter. We would have to have something going by the back end of this year."

Mr Gray added that the updated resource assessment on the mine and the fact more gold has moved into the "higher confidence" bracket for indicated resources means that it should be more straightforward to raise further finance for the operation.

Shares in Scotgold closed down 5 per cent at 0.95p.