Scotgold Resources Limited – Fern Wealth Debt Funding, £1.2m, Tranche 1 of £3m loan Full repayment of £250,000 bridge loan via gold concentrate sales from ‘April Millions of Pounds]
The Company is pleased to announce that, under the terms of the agreement, it has received and completed the first tranche of the drawing of new loans for the total of
Key optimization initiatives planned for 2022 include: Designing, constructing and commissioning a tailings thickener, a cost-effective technology to improve the throughput and recovery of concentrate products in the processing plant to achieve operating monthly of approx. 4,000 tonnes of mill feed by the end of Q2 2022, which equates to approximately 16,000 – 17,500 ounces per gold rate by the end of Q2 2022.
Improve the mining efficiency of the underground mine to ensure continuous operations and Design, construct and commission an ore sorter at the processing plant between the existing crushing unit and the plant to achieve an increase in the number of ounces of gold processed per tonne at lower and potentially lower CAPEX and OPEX tonnages.
Due diligence is to be completed by the end of Q2 2022 and the sorter, if approved, to be operational by the end of Q1 2023. to improve its working capital position and to be able to finalize the purchase of the tailings thickener to begin the construction and commissioning phase of the optimization initiative.
Repayment of the short-term loan facility –
Scotgold announced the
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