Scotgold to list on AIM

Finance

Publishing Date: 25 Jan 2010 3:24pm GMT
Author: Mining Journal

Scotgold Resources Ltd plans to list its shares on the AIM market, secondary to its current-ASX listing.

Scotgold chief executive Chris Sangster said the dual listing will give the company greater access to a larger group of investors.

He said: "Scotgold has recently had a significant increase in the level of interest from British and other European investors, following the success of its resource delineation drilling at the Cononish gold and silver project [in Scotland] and an increased and very promising exploration campaign in the greater Grampian gold project which surrounds Cononish."

The company did not say if any new funds would be raised as part of the move to AIM.

Scotgold has been drilling at Cononish to infill the existing inferred JORC mineral resource and to test high-grade targets (up to 119.9g/t Au) in the recently identified eastern extension of the Cononish mineralisation.

Scotgold is also exploring for gold, silver and base metals over the greater Grampian gold project which surrounds Cononish and comprises a total area of 2,200 km².