SCOTGOLD COMPLETES REDEMPTION OF RMB LOAN IN FULL

RNS Number : 5293A

Scotgold Resources Ltd

22 December 2014

 



SCOTGOLD RESOURCES LIMITED ("Scotgold")

SCOTGOLD COMPLETES REDEMPTION OF RMB LOAN IN FULL

Scotgold is pleased to announce that it has fully redeemed its loan from RMB for an approximate cost of GBP1.2M.

Richard Gray, Chief Executive Officer, commented: "This is an important step for Scotgold in preparation for the financing and development of the Cononish Project.  In parallel to the technical review, which is currently being advanced, we are now in a position to consider all options for securing the necessary finance.  The next milestone will be the announcement of a new Mineral Resource Estimate, which is expected by the end of January 2015".

Enquiries to:

United Kingdom:

Scotgold Resources Limited       Westhouse Securities Limited     Capital Markets Consultants

Richard Gray

Chief Executive Officer                Martin Davison                           Simon Rothschild

Tel: [phone]            Tel: [phone]           Tel [phone]

 

END

 

 

MSCKMMZZGZLGDZZ