A view towards Glen Cononish, where Scotgold Resources plan to mine gold.
Work at Scotland’s only prospective commercial gold mine, near Tyndrum, has been put on hold because of a recent dip in the price of the precious metal.
Developer Scotgold Resources said the results of a final development study had shown the proposed mine at Cononish could generate a total of £39.8m over its seven-year lifespan and promised “healthy returns” for investors.
But executive chairman John Bentley said the recent slide in the market price of gold had dented investor confidence making raising equity finance “severely challenging” and leading Scotgold to delay an immediate share offer pending market improvement.
