London-listed Scotgold Resources slumps to over 2-yr low on going concern warning
27/03/2023 08:52
** Shares of Scotgold Resources Ltd SGZ.L slump as much as
48.7% to 20p, their lowest since July 2019
** The Australia-headquartered gold-silver miner says
significant doubt exists over co's ability to continue as a
going concern in the immediate term if anticipated tonnes of ore
mined in April and following months are below current mine plan
** Co says hit to mining performance largely due to
lower-than-expected grades in 430 West ore drive in Scotland
** Says co in advanced talks with its gold offtake partner
to secure a $500,000 advance to assist with short-term working
capital
** Stock set to post worst day ever, if trend holds
** Including session's losses, stock down ~71% YTD
(Reporting by Aby Jose Koilparambil in Bengaluru)
((abyjose.koilparambil@thomsonreuters.com))