Scotgold Resources has revealed that it is working on additional funding to support delivery of this year's mine plan.
As a result of impacted fourth quarter gold production and sales, the company’s financial and working capital position has been "adversely affected" with a current cash balance of around £350,000 and a net debt position of £12.6m.
In its fourth quarter trading update, Scotland's first commercial gold producer explained that the problems were primarily due to changing the short-term mining schedule to expedite continuous long hole stoping in the western areas of the mine, as well as weather conditions in December.
