Scotgold Resources Share Discussion Threads

[pr100] 02/10/2018 17:57

STOP PRESS!

This project is not imminent! Loan cash put on back burner!

Or maybe it's proving hard to find.

It's going to be a long and depressing winter.

[pr100] 01/10/2018 09:09

Almost 9 months since provisional PP granted and cash is draining away. If they don't start building soon I can see another cash raise looming.

Annual report says $12.5m raised from financing activities.
By 30 June 2018, cash reserves down to $11.2m.
Since then cash burn could have reduced reserves to $10.5m.
Deduct the $1.8m loan repaid to NLR yesterday.
Leaving around $8.7m (£4.8m) in the kitty.

The secrecy around the delay in complying with the legal/financial terms of the PP is worrying. What are they hiding?

[glenalmond] 29/9/2018 07:16

Missing cyclist - Bridge of Orchy / Tyndrum - one year on …

[glenalmond] 27/9/2018 20:27

Hey Steel! Is that a Bluey privilege? The link just came out "[…]" when I tried that.

[steelwatch] 27/9/2018 19:00

If all else fails;->

[glenalmond] 27/9/2018 17:24

Or try this

[glenalmond] 27/9/2018 17:20

investors.co.uk/companies/news/205883/scotgold-closes-out-financial-year-in-good-shape-to-commence-construction-at-cononish

Remove the space to view link. Won't let me post it otherwise.

[steelwatch] 22/9/2018 11:31

Annual Results to 30 June reported 28 September last year....

[pr100] 15/8/2018 18:16

I see that Rocked in the other place is attempting to pass this off as just one or more consultee organisations demanding legally binding agreements and thus causing a delay. He's wrong though. Any required legal agreements would have had to be set out in their consultation responses.

And more to the point, these are not "related third parties" as referred to in the latest RNS. There are only two related third parties in RNS-speak and they are NLR and his funding vehicle. Anyone else can be a third party but not a related third party in stock exchange terms.

Dig deeper.

[pr100] 15/8/2018 08:48

Frantic upticks and nervous LOLs…you boys sound worried.

While you lot seem impressed by the fact that Scotgold have painted a shed, the delay is obviously about the legal agreement surrounding the financial guarantees. financial contribution, etc.

There is no known reason why these financial conditions should be delaying the sign-off and you boys should be finding out what the problem is, rather than admiring sheds.

But I know you haven't been wasting your time entirely because you have been scouring the job ads for evidence that Scotgold is recruiting. Did you happen to find any evidence that Scotgold are actively looking for an Ecological Clerk of Works and a Landscape Clerk of Works? I ask only because the planning authority has made it crystal clear that the mine development can't begin until these two key personnel have been appointed.

Until or unless these appointments are made, we might as well all go out and paint our sheds and fences - and then watch while the paint dries.

LOL. Tick.

[vfb1888] 14/8/2018 22:12

Heh , Jimmy are you a Miner ?
Maybe an accountant ?
Who do you know that posts their accounts in advance ?
Suck it up butter cup and keep making those omelettes !

[pr100] 14/8/2018 19:17

There have been only two named related third parties in the funding deal: NLR and his private vehicle, Bridge Barn Ltd which is providing the £5m secured loan.

Based on its latest accounts, Bridge Barn is/was in no position to lend £5m to anyone since it had just £104k of net assets at 30.11.2017.

The planning authority, if they have any sense, won't be signing off the mine permission until they can see that the cash is in place to develop the mine and meet the various conditions they have imposed.

So my guess would be that the official sign-off is on hold until NLR finds/transfers the £5m loan funds - or at least the initial £3m tranche - to Bridge Barn, and probably into Scotgold's bank account.

[pr100] 14/8/2018 10:03

There's nothing polite about you, as your posting history attests to.

You're just one of the deluded gang that think they own the airwaves and can jump on anyone who doesn't sing from the same evangelistic hymn sheet.

There's none so blind as those who will not see.

[red rook] 14/8/2018 07:42

glenalmond,

Regarding 'I haven't seen you before. Have you been here long?' - I doubt you have 'seen' anyone posting here before, and I don't need to be 'seen' by you to post here!

As for your warped logic of time-lines and what constitutes 'coming weeks'

End of Sept 2018 = circa seven weeks away.
End of Sept 2019 = circa fifty nine weeks away.
End of SEpt 2020 = circa one hundred and eleven weeks away.

So that's OK ! 'That counts as "coming weeks", imo & exactly what it says on the tin.'

I think your 'tin' needs re-labelling!

[glenalmond] 13/8/2018 19:40

Three months = circa 12 weeks.
End of Sept = circa seven weeks away.
Total = circa 20 weeks.

That counts as "coming weeks", imo & exactly what it says on the tin.

Re third parties, here, perhaps, is a wee clue …

DYOR, as they say.

I haven't seen you before. Have you been here long?

[red rook] 13/8/2018 18:23

WTF, there always seems to be some 'other' agreements they need before they can get started. In the RNS dated 18 May 2018 - 'Placing, Subscription and Debt funding', they stated:

'The Company's focus is now on the finalisation of the necessary planning agreements, which is expected in the coming weeks. '

Well it was not 'coming weeks' but nearly three months later that they put out todays RNS saying that agreement with 'various third parties' are also required and a notice will be given 'by the end of September 2018' !

Well. who are these third parties ? What IF these third parties do not agree to any agreements ?

[pr100] 13/8/2018 15:48

Pity they appear not to have worked on a gold mine before - or in any precious metals environment.

But anything is better than letting the CEO loose on it.

[glenalmond] 13/8/2018 15:10

Impressive stuff!

[steelwatch] 13/8/2018 15:01

glen - Fairport on the case with another of mine - ORM
As you say, all good ;->

[glenalmond] 13/8/2018 14:57

All good, Steel :)

[pr100] 13/8/2018 14:44

Well, this is progressing swimmingly - much like the announced sale of the French asset which still hasn't transpired.

The Cononish PP legal agreement delay, we are vaguely told, is down to "related" third parties. So who might that be?

Is there a problem with NLR's cash?

Maybe the useless CEO could learn about transparency and tell minority shareholders WTF is going on? Who is going to believe now that the mine will be generating cash in 2019? It's looking like the shambles it always was.

How will the share price stay above 20p while this dog's dinner drags on?