Scotgold releases full year results, announces £2mln director loan

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Scotgold Resources Ltd (LON:SGZ) lost A$2.6mln during the six months to 31 December 2020.

During the period the company made substantial progress towards putting its Cononish gold mine in Scotland into operation.

Some delays relating to the coronavirus and other operational issues ended up pushing the production schedule back a bit, and accordingly certain directors of the company are proposing to lend it £2mln in a deal likely to be finalized at the end of May.

The Cononish mine is now performing to expectations and a ramp up is underway.

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