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 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by the most advanced prospective investor that they have decided not to proceed with the investment and have now withdrawn from the discussions it was having with Scotgold.
“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.”
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