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Scotgold in advanced talks with new strategic investor

Posted on Author editorial Comment(1)

Scotgold Resources Ltd said it was in “advanced discussions” with a new strategic investor after its previous most advanced prospective investor withdrew from negotiations.

ADMINISTRATORS

The Australian company added that an agreed financing deal to develop the Cononish gold-silver mine, would provide sufficient funds to continue as a going concern.

“Whilst financing discussions are at an advanced stage, in the event the company cannot secure financing with the new strategic investor, this could result in the appointment of administrators,” added Scotgold.

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  1. Pingback: Scotgold considers administration after financing talks fail - Extractive Industries

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