Shares in Scotgold Resources Limited (AIM:SGZ) jumped 17% after it secured US$500,000 of much-needed financial support and said it had embarked on a more cost-effective method of extracting ore from its mine near Loch Lomond.
The funding comes by way of an advance on an offtake deal it has. The company also said that its main debt provider had agreed to defer interest payments until the end of the year.
The shares jumped 2.12p to 14.62p, but have lost around 75% of their value in the year to date.