Dermot Desmond’s gold firm unable to file stock update ‘due to lack of funds’

Company said it was ‘working on securing additional funds’

Dermot Desmond is involved in African Gold through a company called Ulex, and has $10.3 million in the firm. Picture: Getty

Dermot Desmond’s African gold mine investment company needs to raise extra money so it can afford to prepare mandatory stock exchange filings, it has announced.

In a filing to the New York Stock Exchange, African Gold Acquisition Corporation said that it was “unable to timely file their quarterly report … due to a lack of working capital funds”.

The company said it was “working on securing additional funds, but until that time will be unable ...