On 29 September, the Company announced that financing discussions were ongoing and that should sufficient financing not be secured it would need to appoint an Administrator.
The Company has been informed by the most advanced prospective investor that they have decided not to proceed with the investment and have now withdrawn from the discussions it was having with Scotgold.
@scotgoldresltd Potential Administration Appointment #SGZ operating in the Loch Lomond & The Trossachs National Parks 🏴 The Company has been informed by the most advanced prospective investor that they have decided not to proceed with the investment and have now withdrawn from… pic.twitter.com/GhHYWuBccv
— Share_Talk ™ (@Share_Talk) October 2, 2023
Therefore, the directors are assessing the remaining strategic options open and are in discussion with existing funders which could result in the appointment of Administrators over the coming days.
Further announcements will be made in due course.
Scotgold Resources Limited
Sean Duffy, interim CEO and CFO
Peter Hetherington, Non-executive Chairman
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