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Mining firm Scotgold Resources has won support from shareholders for its rights issue, it has announced.

The company said eligible shareholders had applied to take up 178% of the rights issue.

This means the firm has reached its target of raising £640,000 although it could have achieved a higher price.

Scotgold suffered a blow earlier this year when its plans for mining for gold near Tyndrum were turned down. It is now appealing the decision.

A statement to the stock exchange said: "The company is pleased with the level of shareholder support and thanks the shareholders who participated in the rights issue."