By Ian Walker
Scotgold Resources is expecting to appoint administrators over the coming days as financing talks haven’t lead to any investment at this time, it said Tuesday.
On Oct. 16, the gold producer said that it was in advanced discussions with a new strategic investor which, should a final deal be reached, was expected to provide sufficient funding for the company to continue as a going concern.
It said at the time that if it wasn’t able to secure financing with the new strategic investor, this could result in the appointment of administrators.
Trading of shares in Scotgold Resources have been suspended since Sept. 11 as a result of the funding worries.
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