Scotgold Resources Ltd - Stirlingshire, Scotland-based gold and silver exploration company, primarily focused on developing the Cononish gold and silver mine in the Scottish highlands - Raises GBP1.5 million via a share subscription for 10.1 million open offer shares.
This comes after the company announced last month it would raise additional funds via a share subscription and open offer, following encouraging progress at the Cononish mine.
Long hole stopping at Cononish is progressing well, with 1,956 tonnes of ore extracted from long hole stope 1, all processed as of May 3 with an average grade of 4 grams per tonne.
Looking ahead, says it has "good visibility" for the next three months, but notes that ore production will determine its performance.
Current stock price: 17.85 pence, up 8.2%
12-month change: down 72%
By Sabrina Penty; Alliance News reporter
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