Cononish gold mine in Scotland has a new 80% owner following a strategic investment for an undisclosed sum by South African company Acrux Sorting Technology. TECHNOLOGY SCZ Cononish Ltd’s previous largest investor Nathaniel le Roux retains less than a 25% share. The original parent Scotgold Resources plc fell into administration in November 2023 following problems […]
Tag: Cononish gold and silver mine – Tyndrum – Scotland
Cononish mine’s largest investor takes control
Cononish gold-silver mine’s largest investor Barn Bridge Ltd now holds 75% shares or more in developer SCZ Grampian Ltd, replacing the latter’s Australian parent Scotgold Resources Ltd. RIGHTS Companies House recorded the effective date of the changes as 1 November 2023, and received and published the notices today. Additionally, on 15 December 2023 chief financial […]
SCZ Cononish creditor takes further action
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 […]
Scotgold director and largest shareholder resigns
Scotgold Resources Ltd’s largest shareholder and director has resigned after nearly 10 years over conflicting interests with the company. REGRET Nathaniel le Roux is the major secured creditor of the company’s subsidiary, SGZ Cononish Ltd operating the gold-silver mine near Tyndrum. Scotgold, which is considering going into administration after financing talks failed, is evaluating the […]
Scotgold in advanced talks with new strategic investor
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 […]
Scotgold could appoint administrators ‘over coming days’
Scotgold Resources Ltd said it could appoint administrators over the coming days after a prospective investor withdrew from financing discussions for the Cononish gold-silver mine. The Australian company, which last week put some of its staff on unpaid leave, also faces action from an unnamed creditor. In a statement today, Scotgold said: “The company has […]