Finance Metals & Minerals News

Scotgold given £250,000 loan to aid with shipping delays

Scotgold Resources Ltd said it had accepted a £250,000 short-term loan from Bridge Barn Ltd following delays to shipment from its Cononish gold mine near Tyndrum, Scotland.

BRIDGE BARN

Bridge Barn is owned by the company’s non-executive director and former chairman Nathaniel Le Roux.

WORKING CAPITAL

“The funds will cover immediate working capital affected by the delay in shipment of the company’s gold concentrate from port, due to current macro and geo-political events impacting global shipping lines,” said Scotgold in a statement.

“Production and the company’s mine optimisation plan to ramp up the production profile of its Cononish gold mine continue to progress in line with management’s expectations.”