Scotgold secures loan amid shipping delay

Scotgold Resources Limited, the Australia-based gold exploration firm focused on Scotland, announced it has entered into a short term loan facility with Bridge Barn Limited, a company owned and controlled by director Nathaniel Le Roux, providing £250,000 to the firm.

Scotgold said the loan facility — an an interest rate of 9% — has been provided to cover the company’s immediate working capital requirements “which have been impacted by the delay in shipment of the company’s gold concentrate from port, due to current macro and geo-political events impacting global shipping lines.”

Scotgold said: “Production and the company’s mine optimisation plan to ramp up the production profile of its Cononish gold mine continue to progress in line with management’s expectations.”

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Mark McSherry
Dalriada Media LLC sites are edited by veteran news journalist Mark McSherry, a former staff editor and reporter with Reuters, Bloomberg and major newspapers including the South China Morning Post, London's Sunday Times and The Scotsman. McSherry's journalism has also appeared in The Washington Post, The Guardian, The Independent, The New York Times, London's Evening Standard and Forbes. McSherry is also a professor of journalism and communication arts in universities and colleges in New York City. Scottish-born McSherry has an MBA from the University of Edinburgh and a Certificate in Global Affairs from New York University.