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Scotgold updates figures on prospects for Cononish

SCOTGOLD Resources has updated figures relating to mineral extraction from its proposed mine at Cononish, near Tyndrum, Perthshire.

The new figures show 24,000oz of gold have been measured, which means there is greater certainty on the presence of the metal, with a further 58,600oz classified as indicated, suggesting a seam is likely to be present.

In addition, 86,600oz are categorised as inferred, meaning there is less certainty over its presence. Alongside the gold report, there is 104,500oz of silver measured, 229,500 indicated and 297,300 inferred.

The additional information will make it easier for financiers to decide whether to back the project and what level of debt is appropriate.

Scotgold hopes to have an updated study on the mining plan early next year and to begin construction in June, with production following in 2014.

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