StockMarketWire

StockMarketWire.com - Scotgold Resources' [LON:SGZ] shares were down by 10% in late trading. The company unveiled a raft of new appointments following the recent restructuring of its debt and announced plans for a one-for-one rights issue. Alexander Littlejohn has been appointed non-executive chairman, Richard Gray takes the role as managing director and chief executive and Nathaniel le Roux and Richard Harris have been appointed as non-executive directors. Littlejohn is the MD of the DTS Group, one of the largest and well established dental laboratories in the UK. He is also the director of Core3D, a global network for digital dental solutions and the director of Halo dental surgeries. Gray most recently served as Head of Mining & Expansion at Avocet Mining. He has extensive international experience, in both underground and open pit mine operations, and brings considerable operational knowledge and management experience and skills to the company, particularly in the development and implementation of gold mining projects Le Roux spent most of his career in financial markets and was CEO of IG Group plcbetween 2002 and 2006. He is an independent director of the London Metal Exchange and a trustee of various charities. Harris is a mining engineer with over 30 years experience in the mining and finance industries as a mining analyst and public company director. The company also announced that Christopher Sangster has stepped down as MD and CDO. However, the company will retain his experience as he will become a non-executive director. John Bentley has resigned as executive director and chairman and will be focusing on his other corporate responsibilities. In order to return the company to a more robust financial position Scotgold Resources also announced that it intends to undertake a pro-rata non-renounceable one-for-one rights issue. Le Roux and Littlejohn have agreed to fully underwrite the rights issue. The funds raised will be used for ongoing mine development studies at Cononish, further debt retirement, exploration and working capital purposes. - See more at: http://www.stockmarketwire.com/article/4903108/Mining-Roundup.html#sthash.cz1UapbD.dpuf