Scotgold Resources - if the financiers bite the shares could rally further

Scottish gold and silver play Scotgold Resources (SGZ) has welcomed a bankable feasibility report suggesting its flagship Cononish project in the Loch Lomond National Park could have a net present value of £23 million, with a potential internal rate of return of 45%.  The company, whose chairman since March and 40% shareholder is Nat le Roux, onetime boss of financial derivatives and spread betting giant IG Group, believes the report, by Bara Consulting, ‘provides a very solid base for our ongoing discussions with potential project finance providers,’ according to chief executive Richard Gray, a former operations chief at Avocet Mining.