Shares in Crusader Resources were suspended on the Aim on Monday, after the company failed to raise sufficient funding, raising “material uncertainty” about its going concern status.
Crusader had to raise funding before the end of September, but said on Monday that it had not yet managed to do so, despite positive discussions with a number of debt and equity providers.
The Brazil-focused gold project developer is also considering selling some assets, it said in a statement.
On the ASX, where Crusader has a primary listing, its securities were suspended from quotation, “pending a response to an ASX query”.