Bellzone Mining says it could go bust if it doesn't secure fresh funding

AIM-listed Bellzone Mining said on Thursday that it could go bust if it's not able to secure fresh funding soon.

The company said it remains in discussions about raising further funds but there has been no definitive agreement entered into to provide further working capital.

"The company's working capital position is tight and there remains the risk that unless further funds are sourced in the near term then the company would need to invoke an insolvency procedure," it said.

Bellzone said last month that it was exploring options to remain as a going concern, including further dialogue with major shareholder Hudson Global Group and interested parties on ways to "urgently monitise" its Konta Port asset in Guinea.

At 1600 GMT, the shares were down 34% to 0.16p.