Scotgold Resources (ASX: SGZ) has been formally granted planning permission for the Cononish Gold and Silver Project by the National Parks Authority in Scotland.
The granting of planning permission is a significant milestone in progressing the Cononish project to production, with all planning negotiation now complete.
Following the issue of the decision to grant planning permission and subject to the requisite three month judicial review period, a mining lease will be issued by the Crown Estate.
Scotgold is aiming to proceed to development at Cononish in the second half of 2012. The company is in the process of updating the Development Study and examining finance options for the project.
A recommendation for the grant of planning permission was made on October 25, subject to agreement on outstanding conditions and the conclusion of legal agreements.
One of the principle points of negotiation was agreement on the magnitude of bonds to be posted in order to guarantee restoration of the site and implement the Greater Cononish Glen Management plan in its agreed form.
Scotgold Resources gets planning permission for the Cononish gold and silver project in Scotland
Last updated: 11:20 14 Feb 2012 AEDT, First published: 10:20 14 Feb 2012 AEDT