Once the final approval comes through (as seems likely now) SGZ also has that $1 million AUD to look forward to. It will act like cash flow as they are getting things geared up. Nice to have :)
"Scotgold Resources Ltd (Scotgold) is pleased to announce that it has accepted an offer of a Regional Selective Assistance (RSA) grant of up to £600,000 (Aus$ 1,000,000) in respect of the Cononish Gold and Silver project from Scottish Enterprise.
The grant is to assist in the establishment of the mine facilities and job creation and is conditional on Scotgold obtaining planning permission. It is payable retrospectively in installments subject to certain capital"
I bet the directors are grinning from ear to ear. Nice profit on the extra shares they bought in September already.
KENGLO should be chuffed too after picking up an extra 2.9 million shares in the rights issue!!
SGZ Price at posting:
6.6¢ Sentiment: LT Buy Disclosure: Held
