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Dewey Ayca

Turkey

Researcher

Member since April 30, 2013


  • 1

    Plans to reopen the Cononish mine near Tyndrum in Stirlingshire have been delayed due to falling gold prices.

    Scotgold Resources said the project remained viable and would generate a cashflow of more than £39m before tax over its first seven years of operation, at current gold prices.

    But it warned that the fluctuating price had dented market confidence.

    As a result, Scotgold said it had decided not to seek further funding for the scheme until conditions improved.

    A study has predicted that once operational, the mine could produce up of 20,200 ounces of gold a year.

    At current prices, that would give the Cononish project a rate of return of about 37% before tax and see the initial investment repaid within 26 months of the start of production.

    However, Scotgold said the market remained wary after gold prices fell by more than 9% at the beginning of April, the biggest drop for 30 years.

    Challenging market The depressed market has made the company reconsider plans to seek additional funds to bring the mine into full production.

    Executive chairman John Bentley said: "The recent sharp decline in the gold price has severely dented market confidence, albeit that there has been significant positive movement since the lows recorded on 15 April 2013.

    "The potential to raise the required equity financing for the project is considered to be severely challenging under current market conditions.

    "The board has thus decided to defer an immediate raise pending an im...

  • Tana GoldFields Company

    Well-being, Industrial Design

    Taynam2_177_

    Tana GoldFields Company

    TANA GOLDFIELDS PLC was established in 2011 and incorporated in the United Kingdom as a PLC. It was subsequently listed as a public company on the GXG Exchange (symbol: TANA) also in the United Kingdom. TANA has an experienced management team in place with many years of experience in mining and business and our production partners are fully equipped and ready, eliminating long waits for drill equipment. Early stage sampling and analysis is currently underway in British Columbia Canada. TANA is also in the planning stage to begin work in Guinea Africa under a joint venture agreement to develop significant gold and diamond assets in that country. The company has corporate offices in London and operational offices in Quesnel BC Canada and Soumani Guinea in Africa. TANA expects to employ 12 to 15 people during its production phase and a geological staff of 3 during early phase work in Canada and a further 25 employees for its operations in Guinea.

    An Experienced Management Team The company has experts in mining, business, accounting and the public markets. All of our officers and operators have many years of experience. TANA GOLDFIELDS believes in employing ethical business practices and engaging with the communities, businesses and governments and to operate in work areas with integrity.

My Interests

  • Industrial Design
  • Environmental Design
  • Communication Design
  • Fashion Design
  • Audio/Visual Design