Scotgold Resources eyes worst day in almost a decade on discounted placing
10/02/2023 09:55
** Shares of Scotgold Resources Ltd SGZ.L fall as much as
32.6% to 39p
** Stock eyes worst intraday pct fall Since April 30, 2013
if trend holds
** Scotland focused gold and silver miner raises 2.5 million
pounds ($3 million) via placing at 40p, a 31% discount to
Thursday's close of 58p
** Says placing to fund development of one of its two
primary projects located at Cononish
** The Australia-founded co reported a cash balance of
350,000 pounds against net debt of 12.6 mln pounds on Jan. 19
** Up to last close, stock had fallen ~3% so far this year
after falling ~18% in 2022
($1 = 0.8256 pounds)
(Reporting by Prerna Bedi in Bengaluru)
((Prerna.Bedi@thomsonreuters.com; +91 98052 24616;))