Scotgold grumpy over Grampian survey

Scottish gold prospector Scotgold Resources has been frustrated in its attempts to conduct an airborne magnetic survey over its Grampian exploration targets.

In its half yearly report covering the six months to the end of last year, the company says civil aviation authorities have not yet given permission for the survey, so "alternative arrangements" are being considered.

Scotgold received permission to develop the Cononish resource in the Grampian mountains from the National Parks Authority in February this year and, following a judicial review, expects a full mining licence to be granted by the Crown Estate in June.

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Shares in the firm had dropped 2.33% by noon. Over the last 12 months the stock has gained 18%.

BS