Scotgold Resources Ltd could appoint administrators in Australia, in addition to the expected administration in the UK, after its largest shareholder took further steps over its loan agreement. RIGHTS The secured creditor over SGZ Cononish Ltd, developer of the gold-silver mine near Tyndrum, is Bridge Barn Ltd controlled by former chairman and director Nathaniel le […]
Tag: Bridge Barn Ltd
Scotgold raises £2m via open offer-subscription
Scotgold Resources Ltd has raised a total £2 million from an open offer and subscription for its Cononish gold-silver mine near Tyndrum. BOARD APPOINTMENT The open offer, closed on 12 May, will see the maximum number of 10,065,262 open offer shares issued, raising £1.5 million. On admission, Scotgold will have 80,500,346 ordinary shares in issue […]
Scotgold secures $500,000 and defers £450,000 loan interest
Scotgold Resources Ltd has secured a US$500,000 advance and deferred payment of £450,000 on loan interest to help with short-term working capital for the Cononish gold-silver mine. BRIDGE BARN The arrangements follow the company’s rise in debt and losses as well as fears for its immediate survival from lack of funds and poor gold grades. […]