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.

MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free

Sign up to Money Morning

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Sign up

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

BS