Company Moves Exploration & Mining News

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 […]

Exploration & Mining Finance Legal News

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 […]

Company Moves Exploration & Mining News

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 […]

Exploration & Mining Finance News

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 […]

Exploration & Mining Finance Legal News

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 […]

Exploration & Mining Finance Legal News

Scotgold staff on unpaid leave

Scotgold Resources Ltd has placed employees on “short term unpaid leave” and is talks with an “administration specialist” while it faces action from a creditor. FINANCING The Australian company continues “financing discussions” to develop its Cononish gold and silver mine and reached an advanced stage with “confirmatory diligence being undertaken”. “These have not yet reached […]