Scotgold Resources (AIM:SGZ) - Voluntary Administration

Scotgold Resources (AIM:SGZ), an Australian company which operates Scotland’s only gold mine through its UK business SGZ Cononish, entered voluntary administration on 24 November. The company suffered from disappointing gold production and development of the mine in the first half of 2023, leading it to seek new investment. In October, the company announced that it was in advanced talks with a strategic investor, but those talks ultimately failed to secure an investment. Daniel Bredenkamp and Christopher Pattinson of Pitcher Partners were appointed joint administrators.