Scotgold Resources Ltd said it signed a deal with Swiss wealth manager Fern Wealth GmbH to secure a £3mln loan from high net worth investors to fund an upgrade in its key Scottish gold mine.
Scotgold said the money will bankroll plans to increase the gold production run rate at the Cononish mine to about 23,500 ounces a year by the end of the first quarter of 2023.
Last month the company opened a second cut at the Cononish mine in Argyll, transforming the amount of gold it produces.