https://www.engineeringnews.co.za

Scotgold offloads French exploration licences

15th March 2018

By: Creamer Media Reporter

     

Font size: - +

JOHANNESBURG (miningweekly.com) – Aim-listed Scotgold has sold the subsidiary that holds its exploration licence in Vendrennes, France, to focus its effort on the Cononish gold project, in Scotland.

The subsidiary, SGZ France, also has applications pending for exploration licences for Penlan and Olivet.

Scotgold will sell SGZ France to Ikigai for €100 000 in cash and further deferred cash payments of up to €900 000 conditional upon completion of certain milestones by the purchaser, related to the development of any of the licences.

The sale is conditional upon approval from the Mineral Resources Office of the Ministry for Economy and Finance of France.

" We strongly believe in the potential value of the assets; however, given our current focus on the Cononish project with its exciting developments and the recently announced planning permission, we are pleased to have attracted a purchaser who can progress the French licences, making the sale mutually beneficial,” commented Scotgold CEO Richard Gray.

He added that Scotgold retained the opportunity to acquire the Penlan licence if it became available.

Edited by Mariaan Webb
Creamer Media Contract Publishing Editor

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Multotec
Multotec

Multotec, recognised industry leaders in metallurgy and process engineering help mining houses across the world process minerals more efficiently,...

VISIT SHOWROOM 
Iritron
Iritron

Iritron delivers advanced automation, control, and optimisation solutions to the Mining, Minerals & Metals, Consumer Package Goods and...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







301

sq:0.093 1.414s - 140pq - 2rq
Subscribe Now