Scotgold Resources Share Discussion Threads

[steelwatch] 28/8/2019 11:57

This would explain what seemed to be an oversized ball mill:

"During the detailed plant design process, it became apparent that certain features and facilities originally deferred to Phase 2, should be brought forward to Phase 1. Some examples of these are the design and casting of the foundations for Phase 2 equipment during the current construction process, the establishment of a functional assay laboratory, as well as the more obvious scaling of the crushing circuit and the tailings dewatering circuits to accommodate Phase 2 capacity. The overall benefit of these changes is not only that there will be an offsetting capital reduction in Phase 2, but also that the plant operability will be improved during Phase 1 and a more seamless expansion to Phase 2 will be possible"

[pr100] 28/8/2019 11:50

So, as foretold, Scotgold raises another chunk of cash for this "fully funded" gold mine. But you never actually believed it was "fully funded" did you? Wee Graham knew this was coming while he was pumping away in the forums.

And first gold is delayed until at least Feb 2020 - but you never really expected any gold this year did you?

No doubt there will be plenty more fundraising events for this poorly planned "fully funded" project so stay awake. Positive news flow, such as the arrival of plant, first gold pour, etc, will be leveraged to raise more cash before the share price gets a chance to rise. That's what happened in the past and it will happen again in the future.

Forecast production costs per oz have also shot up - and will doubtless do so again.

It looks like we've been sold an impossible dream and that the original phase 1 may not generate any cash after all so phase 2 is being gradually brought forward to help balance the books. It will be well into 2020 before profitable ore grades are reached so plenty of time for more fundraising events.

And to cap it all, they seem to be saying that they should really be building the mine at Inverchorachan instead of wasting your cash at Cononish.

CEO Gray has the opposite of the Midas touch. He should long ago have been replaced by someone who knows what they're doing.

[glenalmond] 27/8/2019 23:16

She passed across from Bo'ness on her way in. My guess is the ALDEBARAN was in that berth holding things up, hence anchoring by Kirkcaldy.

Cheers Steel - already got them.

Right, let's get that ship unloaded!

[steelwatch] 27/8/2019 23:13

glen - posted a couple of links on the +1 board. Not sure if they're new or I'd just missed them somehow, but picked another couple of 20s today.

[steelwatch] 27/8/2019 23:08

Yes indeedy 😀

[glenalmond] 27/8/2019 22:31

Good link from Morar on LSE



Scroll down to below the VESSELS IN AND AROUND THE PORT map for definitive MAP VESSEL KEY

[glenalmond] 27/8/2019 22:23

That's the Ireland docking now.

[glenalmond] 26/8/2019 21:59

Excellent info and much appreciated!

[steelwatch] 26/8/2019 21:55

On the Marine Traffic site, red usually denotes tankers and green general cargo. Pale blue/cyan, (I'm a wee bit colour blind), quite often indicates offshore oil and gas support vessels, platforms, drilling rigs and the like, but can also other types of craft. Deep blue are usually passenger vessels. Then there are fishing vessels which are usually tangerine. Grey can be naval vessels, if they are transmitting on the right wavelength, but also cyan at times. Pleasure craft, sailing boats and the like come in a fetching lilac.

All down to an unhealthy interest in oil & gas exploration and production shares 🥴

[glenalmond] 26/8/2019 21:45

A few new pics of the Young Scientists at the mine today

[glenalmond] 26/8/2019 21:40

By the way, what's the difference between the red and green ships? I was thinking port / starboard at first or a ship's direction, but neither of those seem to add up.

[glenalmond] 26/8/2019 21:36

Lovely jubs :)

BG Ireland safely docked in Teeside with the SA kit





Next stop, Grangemouth.

[steelwatch] 26/8/2019 16:23

Maersk McKinney Moller is about 110 Nm into the Red Sea now. Only about 1150 Nm to Suez from current position:

[vfb1888] 26/8/2019 11:33

Gold at £1,250 & Silver at £14.38
BFS Gold £920 Silver £12.80

[steelwatch] 26/8/2019 03:39

Hey Glen, wee spouty thingy on the end of yon ball mill may indeed be ye trommel:



🥴

[glenalmond] 23/8/2019 17:29

Cheers Steel. I like the cut of his jib.

Gold and silver kicking off again...



£1,243.76

+20.63+1.69%

$1,523.52

+26.21+1.75%

£14.18

+0.25+1.77%

[steelwatch] 23/8/2019 10:22

A far wiser man than I glen:

[glenalmond] 23/8/2019 09:06

Ah, thank you for putting me right, mineng. I had never heard of a trommel before Tuesday and was misinformed as to the correct term for the equipment en route … or perhaps it's a trommel that's in the open top container currently awaiting delivery to Grangemouth a week today by the BG IRELAND?

So I was accidentally correct in identifying a trommel in the initial video then?

This ball mill looks a most interesting piece of (heavy duty) kit too

Might I gauge by your post 48 that you are somewhat surprised at the large size of the ball mill pictured that's on it's way?

I think I may have seen you post over on CGNR in the past? I can assure you that SGZ is about as polarly opposite to that aptly named pile of 💩 as it is possible to get!

Steel, I'm liking what Mark Mobius has to say. Is he a reliable source, do you know, or just another big mouthed blabber merchant?

[steelwatch] 21/8/2019 17:27

mineng - Being a layman, I couldn't say, but, taken from the 2018 AR:

Project Development

The Project development is intended to take place in two stages to strengthen the mine’s production ability whilst minimising technical risks. Assuming November 2018 commencement:

→ Phase One (December 2019 - February 2022): After a 4 month ramp up and commissioning period, the mine is intended to operate at a production level of 3,000 tonnes per month (36,000 tonnes per annum).

→ Phase Two (March 2022 - End of Life of Mine): The mining is intended to reach a steady state level of production at 6,000 tonnes per month (72,000 tonnes of ore per annum).




What the capacity of the ball mill depicted is, I have no idea.

[mineng] 21/8/2019 14:37

steelwatch
This is for a less than 2,000 tonnes per week plant, right?
It will be interesting to see what arrives.

[steelwatch] 21/8/2019 12:51

Maersk McKinney Moller making good time. Off the south coast of Ceylon now:



Another 4 days should see her entering the Gulf of Aden at present speed.

[steelwatch] 21/8/2019 12:35

mineng - it would appear so:

[mineng] 21/8/2019 11:59

Glen
I think that is a ball mill, not a trommel.
A trommel is a sort of cylindrical sieve that rotates (and sometimes washes). Often used in alluvials.

Steelwatch
re your photo : Is Scotgold suggesting that this particular ball mill is the one coming to them?

[glenalmond] 21/8/2019 08:59

Yes indeedily, Steel. Hopefully Scotgold will appear in their latest news section afore long.