Scotland business

Scotgold reveals latest estimates for Tyndrum mine

Cononish near Tyndrum Image copyright Other
Image caption Scotgold hope to extract gold and silver from the mine, which is based at Cononish

The company behind a bid to extract gold from a Scottish mine has revealed its latest estimates for the amount of the precious metal on the site.

Scotgold Resources said the total ore reserve at Cononish in Tyndrum was now 198,000 ounces of gold and 851,000 ounces of silver.

The report also estimated that the life of the mine would be eight years.

The new figures followed the publication of a revised development plan from Bara Consulting.

The company now hope to complete a feasibility study to estimate costs for the venture by the end of July.

Scotgold's chief executive Richard Gray said the firm would continue on a quest to attract financiers, and prepare to begin production at the site.

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