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Tana Goldfields United Kingdom 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 improvement in market sentiment." Mr Bentley said the firm would now not be approaching investors until the gold price "calms down". Last November, the mining company secured a pre-development loan worth nearly £1.2m from RMB Resources to help continue the drilling programme at the mine in the Loch Lomond National Park. Considering options Mr Bentley said RMB still backed the scheme and was "evaluating project debt ca

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. http://deweyayca45.tumblr.com/post/51624802400/falling-gold-prices-delay-plans-to-reopen-cononish-mine

The liquid funds and debt funds have started giving negative returns over the last couple of weeks after Reserve Bank of India intervened and tightened the liquidity, personal finance expert, Feroze Azeez, Anand Rathi Private Wealth Management said. In an interview to CNBC-TV18, Feroze Azeez, Anand Rathi Private Wealth Management shared his views on how one should approach gold and mutual fund from a long-term investment perspective. Should you invest in fixed maturity plans now? Below is the verbatim transcript of Azeez's interview with CNBC-TV18. Caller Q: I have been investing in mutual funds with the aim of earning decent returns. I have invested about Rs 5 lakh with a two years horizon. However the current scenario is bad and the liquid debt fund is giving negative returns. What should I do now? A: As you pointed out that liquid funds and debt funds have also started giving negative returns over the last couple of weeks after Reserve Bank of India intervened and tightened the liquidity. If you have Rs 5 lakh to invest and the time horizon is about two years then you should stay away from equity, still debt will have some volatility but to my mind liquid fund have given negative returns, not because of inherent nature but there was a change in the method of computation of the net asset value (NAV). I do not think it is going to be a very long phenomena, it is going to be short-lived. Therefore, you should not be too worried as long as your timeframe is two years. However, the question about where your money should get into. I think there is immense amount of opportunity which has emerged on the debt market side and fixed maturity plans (FMP) which was indicating a return of almost about 8-8.5 percent till a couple of weeks back, today can deliver 10 percent or 9.8 percent. So, can almost have a post tax return of about 9 percent, which is as good as, for example like 13 percent fixed deposit (FD) if you are in the highest slab, almost like 11.8-11.7 per

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.