First Scottish gold sale to jewellery industry agreed

Scotgold Resources Ltd has announced that a sales agreement has been signed with two of Scotland’s manufacturing jewellers.

This agreement covers the first refining batch (approximately 16oz) of Scottish Gold made available for jewellery, and only the second refining batch produced to date, from Scotgold’s Bulk Processing Trial (BPT) at the Cononish Gold and Silver Mine.

Scotgold CEO, Richard Gray, comments: “This is yet another pleasing milestone and validates our belief in the strength and value of combining Scottish Gold of proven provenance with the skill and prestige of the Scottish jewellery industry”.

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The sales agreement involves significant input from both Baird & Co, as the appointed refiner, and the Edinburgh Assay Office.

The Dragonfly Initiative managed the negotiations as Scotgold’s appointed consultant. The company oversaw the marketing and commercialisation of the company’s Scottish Gold.

Whilst all the parties have agreed to keep the precise terms of the sale confidential, the premium received was in excess of the 30% reserve stipulated for the Scottish Gold Rounds, auctioned in November 2016.

The sales agreement includes detailed conditions for the use and marketing of the Scottish Gold, which are designed to protect the branding of this rare and precious commodity and will form the basis of all such future sales.

In addition to setting out the commercial terms for this first sale to the Scottish jewellery industry, the sales agreement includes detailed conditions for the use and marketing of the Scottish Gold, which are designed to protect the branding of this rare and precious commodity and will form the basis of all such future sales.

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