Scotgold Falls After Report Recommends Mine Rejection

Scotgold Resources Ltd., an Australian company aiming to start a gold mine in Scotland, fell by the most in more than two years after a national park trust report recommended the development in the Highlands be blocked.

Scotsgold fell 31 percent in Sydney trading to 5.9 cents, the lowest close since April 3 last year, on the Australian stock exchange.

A Loch Lomand and Trossachs National Park report said Scotsgold’s planning application for an underground mine at its Coronish project should be refused, the Perth-based company said yesterday in a statement. Should permission not be granted, Scotsgold may appeal to the Scottish government, it said.

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