The owner of Scotland’s only gold mine is in talks with an administration specialist should it fail to secure funds to continue operating.
A few months later, on March 27, Scotgold shocked shareholders by announcing that its gold grades, revenues and working capital It cited failed efforts to optimize production using what it considered a more cost-effective method of mining called long hole stoping.
Any delays in switching to the new process, the miner warned at the time, would inevitably put a strain on its finances. a third-party review of its operations after “disappointing” production results in recent months. This would initially encompass an assessment of the mine design, schedule and production forecasts.
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