- Scotgold Resources said it had raised £9m of funding to develop a gold mine in Scotlaned through a combination of equity and debt.

The company raised around £4m from an issue of new shares at 27.5p each, which was the closing mid-market price on Thursday.

It had also taken out a £5m secured loan facility agreed with chairman and substantial shareholder Nathaniel le Roux.

'Together with existing cash reserves, the company believes it has sufficient funds to build the Cononish gold mine, execute a planned exploration programme and meet ongoing working capital needs,' Scotgold said.

At 9:55am: [LON:SGZ] Scotgold Resources Ltd share price was +6.5p at 34p

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