Potential Administration Appointment

THIS ANNOUNCEMENT RELATES TO THE DISCLOSURE OF INFORMATION THAT QUALIFIED OR MAY HAVE QUALIFIED AS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) 596/2014 AS IT FORMS PART OF UK DOMESTIC LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018.

2 October 2023

 

 

Scotgold Resources Limited ("Scotgold", the "Company" or the "Group")

Potential Administration Appointment

 

On 29 September, the Company announced that financing discussions were ongoing and 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by the most advanced prospective investor that they have decided not to proceed with the investment and have now withdrawn from the discussions it was having with Scotgold. 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.