Scotgold Resources Share Discussion Threads

[glenalmond] 02/9/2019 09:11

Nah, you've lost me there, Steel! Is there a test area in ADVFN one can play around with code?

Meanwhile, MAERSK MC KINNEY MOLLER currently across from Malaga, fast approaching Gibraltar and the SA container looks to have left Grangemouth on Friday - or perhaps it's still awaiting collection?



GRANGEMOUTH, TERMINAL
Grangemouth, United Kingdom
28 Aug 2019
14:42

Discharge

30 Aug 2019

Gate out

[steelwatch] 31/8/2019 07:08

& lt ; (without the spaces) = <

Stops the bold code working

[glenalmond] 31/8/2019 00:31

Thanks! How does your instruction not revert to bold too?

[steelwatch] 30/8/2019 08:46

<b>Text</b&gt; = Text

[glenalmond] 29/8/2019 20:08

Lol, how do you embolden text in here Steel? Am I warm?

[glenalmond] 29/8/2019 20:07

She's a big girl!



Along with its Triple E class sister ships, Mærsk Mc-Kinney Møller was the world's largest and most efficient operational container ship at the time of its completion, totalling 399 metres (1,309 ft) in length and with a cargo capacity of 18,270 TEU containers.

Its efficiency is maximized by fuel-efficient engines and a maximum speed of 23 knots, reducing its fuel consumption and carbon dioxide emissions by 20 percent compared to the previous most efficient cargo vessel.[12] However, due to its size and cost, its efficiency is severely reduced if it is not fully loaded; the shipping analyst Richard Meade asserts that it is "probably the most inefficient ship ever built" when half-loaded.[13] During normal operations, the Møller is manned by a crew of 19, although it has sufficient accommodation for 34 people.[8]

[vfb1888] 29/8/2019 16:53

SPAngel Note posted on LSE by CP52, explains a "bit" better the Phase two aspects brought forward.


Scotgold Resources* (SGZ LN) 35p, Mkt Cap £16m – Fundraising, Cononish project and exploration update

BUY – TP under review

The Company updated Cononish cost estimates and first production target on the back of civil engineering design delays.
First production is now expected end Feb/20 versus originally guided Dec/19.
Capital cost has been revised from £20.1m estimated in the Mar/17 BFS to £26.8m.
Operating costs have come up only slightly to 398/oz v £373/oz estimated previously as higher power costs assumed have been partly compensated by lower operating expenses related to tailings management; also, we suspect higher cash costs reflect higher royalty expense due to stronger gold prices assumed.
Updated costs called for an additional £2.5m capital injection that is being funded through a combination of equity and debt.
Nathaniel le Roux agreed to extend the existing loan facility by £1.5m taking the total to £7.5m; additionally, the Company is issuing 3.3m new shares at 35p for £1.15m of gross proceeds.
The term of the loan has also been extended to 36m (from 24m) from each drawdown.
More than 80% of the equity raise is being provided by three Company Directors and a member of the management team.
On the positive note, the Company estimates that the latest strong run in gold prices more than compensates for higher costs with life of mine EBITDA up ~45% at £146.7m when £1,200/oz gold price is used compared to previously assumed £920/oz (equivalent to $1,500/oz and $1,150/oz at 1.25 exchange rate used in the BFS). This brings a ~46% increase in NPV10% (pre-tax) to £63.3m.
Regarding operations update, mine development is continuing with ore access to be completed by ed of 2019 as scheduled.
Earthworks are due to commence in September, four months behind the targeted May start, as the characteristics of the area (elevation, environmental conditions, geotechnical factors) required more design work.
Major processing plant parts sourced from South Africa and China are currently in transit and should be arriving on site in due course.
On exploration side, the Company has successfully identified surface anomalies within the Company’s license areas including strong anomaly 1km NE of the Cononish orebody and high gold (125ppb) and silver (420ppb) in soil assays at the Inverchorachan area.
Conclusion: As much as an increase in capital costs and a delay to first production that led to a debt and equity capital injection by investors is an unwelcome setback, the Scotgold investment case remains strong with the high grade Cononish project continuing to offer strong cash margins (TCC of £398/oz v current £1,270/oz spot gold price). Furthermore, as previously highlighted, the team has brought forward a fair share of the Phase 2 capex (plant expanded to 6ktpm, up from Phase I 3ktpm) which in turn helps to de-risk and potentially accelerate the future switch to Phase 2. The Company benefits from weak British pound amid fears over no-deal Brexit and strong gold prices driven by a revision to investors’ expectations of future growth prospects as well as geopolitical risks including rising tensions in Hong Kong and the dissolution of the Italian government. We remain buyers of Scotgold Resources and will release updated target price and earnings estimates shortly.

[steelwatch] 29/8/2019 16:43

Naersk McInney Moller out into the Med now. Destination Rotterdam eta 5 September.

#Steamin!

[glenalmond] 29/8/2019 09:02

McKinney Moller currently in the Great Bitter Lake.

Perfect timing with shylock hanging around like a bad smell again, lol.

[glenalmond] 29/8/2019 08:57

Hope for gold mining potential in Argyll's Glen Fyne



No reply to the Qs I asked you on LSE, shylock? Is that why you're accusation was removed?

Perhaps make it again here?

What selling were you talking about?

[bageo] 28/8/2019 18:20

predominantly because the site elevation, environmental conditions and geotechnical factors necessitated a more complex earthworks and foundation design for the building than anticipated.

site elevation - well the deposit hasn't moved
environmental conditions - is this planning conditions imposed or site conditions?
geotechnical factors - this might be something discovered in the last few months

Au price is saving face here.

[bageo] 28/8/2019 18:17

where is pr100 .....

[glenalmond] 28/8/2019 17:59

We remember............…

[vfb1888] 28/8/2019 17:31

Is it me or does the PR guy "shylock " remind you of Sugardaddy

[glenalmond] 28/8/2019 16:40

Hold on, wrong way round!

Time in Suez, Egypt UTC+02:00
5:40 PM
Wednesday
August 28, 2019

0400hrs BST tomorrow

[glenalmond] 28/8/2019 16:38

Due at the canal by this time tomorrow

Reported ETA:
2019-08-29 05:00 LT (UTC +8)
beta
Predictive ETD:


Reported Destination:
MYTPP>>>EGSZC

[steelwatch] 28/8/2019 15:08

Maersk McKinney Moller making good time. Just entered the Gulf of Suez.

[glenalmond] 28/8/2019 12:08

Good to see Scotgold still living rent-free in Shylock's bonce 😀 😁 😂 🤣 😃 😄 😅 😆

[glenalmond] 28/8/2019 12:06

"The goods sourced from South Africa and China are now in transit to Scotland, with the balance sourced from Europe still outstanding."

Good news all round 👍