The new site, unlike the old one at Cononish near Tyndrum, lies outside Loch Lomond and the Trossachs National Park. Loch Lomond Scotgold boss Chris Sangster said of the new find: "It's very encouraging. The numbers a re interesting and we certainly have new hopes now."It may not begin at all if certain local councillors have their way. They want to thumbs-down the mine because it runs the risk of ruining the secenery of the area.
Scottish gold is prized around the world because of its scarcity and deep yellow colour, and gold prices have soared since the credit crunch as investors look for save havens for their money.
Shares in Scotgold surged because of the new find, but Sangster warned it would be at least a year before he knew if there was enough gold at the River Vein to make money from it.
And even if councillors give the go-ahead, it could be a decade before mining begins.
The fellow behind the project is definitely Scottish, as he refrains from boostering; certainly, the reporter who wrote the story is a Scot. If the mine opens, it will be the only commercial mine in the entire U.K. The Wales mines were exhausted some time ago.
I still prefer silver coins over gold coins. Have you read much about what is happing with silver demand in China? I think this demand will continue to grow pushing the silver price up fast % wise than gold.
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It could be - silver tends to outperform gold during the third stage of a bull market. I don't know what silver demand is like in China, but the outperformance tends to come from gold becoming too expensive for many.
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