Scotgold Resources Share Discussion Threads

[pr100] 15/11/2019 10:51

Good grief! A new contributor to the other place who actually talks sense! No doubt the hyenas will get him kicked out for that.

"septo" points out that the similar commitment note in the 2018 accounts was only for $440k over five years despite the total land holding being bigger at that time.

So the exploration commitment has increased by over 3000% for a smaller area and without the France/Portugal licences which were included last time.

It would be great to hear something sensible about this huge escalation, unlikely though that is in this place.

[vfb1888] 14/11/2019 23:55

Misleading PI'S is the speciality of the PR Mr 100 lies omelette muncher !

Explain this one of yours

Here is another example of your expertise in corporate governance ! How did that one work out for you Mr PR MAN of 100 lies
Yes you were lying again ! FACT

Example three of shylocks lies :
================================

just to bang the corporate governance drum one last time for this evening, I'm confused as to how the directors were able to take up their entitlement in the Non-renounceable Rights Issue, as announced in the "Change of directors interest" RNS's dated 1 December 2014.According to Schedule 3, paragraph (l) on page 27 of the NOTICE OF GENERAL MEETING AND EXPLANATORY MEMORANDUM issued on 30 July 2014: "Optionholders will not be entitled to participate in new issues of capital offered to Shareholders during the currency of the Options".So, the options were current and yet the directors who were optionholders did participate in the Rights Issue, despite apparently being barred from so doing.Hopefully someone will tell me if I have got this wrong.” (09/14/2016)
====================================================

The Directors were entitled ( and indeed expected ) to participate in the Rights Issue by virtue of their shareholding

PROVEN LIAR , LET THAT SINK IN JUST LIkE THE LAMPPOST YOUR SON HIT WHILST DRINK DRIVING

Sue me for being correct if you dare old Chap Man

[glenalmond] 14/11/2019 17:40

Mr C you next Tuesday 😆 wot a fud

[vfb1888] 14/11/2019 17:13

OH dear shylock , your on the hook again , lol !
MR C , lol
Shareholder , lol

PS can you make any more buy recommendations , lol at you again

BYE BYE

[pr100] 14/11/2019 16:53

You're misleading PIs in the other place. This $16m exploration spend is clearly described as a "commitment" - not an option, nor a contingency.

A commitment is a pledge or undertaking. Scotgold are bound by it - unless they release the licenses of course to let someone else in.

Why not ask the hapless Gray to publish a detailed list of these commitments?

[vfb1888] 14/11/2019 16:34

Mr C , lol , shareholder , lol , you have been making yourself a busy little numpty haven't you . By this point I am pretty sure you know you're a prize plonker but since when has that bothered you . You made your point, out of nothing, and another notch on your lie sheet has been given. Tick Tock shy lock

PS: Does the C stand for ---- ?

Bye Bye Proven Liar

[vfb1888] 14/11/2019 11:47

Can you take a hint 😂😂😂😂8514;😂
🌴🐕🌴🐕7796;🐕ӽ96;🐕🌴;🐕🌴🐕🌴
28021;🌴€021;

[vfb1888] 14/11/2019 11:21

Old Tom eh , the same guy who said it wouldn’t get off the ground 😂

Would you like me to tell you the best times to buy Mr Wrong

[vfb1888] 14/11/2019 10:05

You are a liar ,let that sink in old boy
Everyone knows your name !

[pr100] 14/11/2019 09:36

And a word in your ear: I don't think today will be a good day to buy Scotgold shares.

[pr100] 14/11/2019 08:50

The thing is, wee Graham, only one of knows the truth and it's not you.

[vfb1888] 14/11/2019 08:34

The FCA would not confirm that to you so that’s another lie ! PROVEN LIAR

[pr100] 14/11/2019 08:25

The FCA are now reviewing whether this matter merits a formal investigation under their statutory powers.

[vfb1888] 14/11/2019 08:12

Bla bla bla The Spin doctor Spins another
PROVEN LIAR, FACT

[pr100] 14/11/2019 07:11

Bageo,

The first key word is in the title to the note. This cash is a "commitment" - which until now, Scotgold had kept secret.

The second key word is "exploration". Cononish mine is now a *development* project so there is no possibility that any of this secret exploration expenditure is included in the published mine development costs. It is new money and it's irrelevant whether it might include some future exploration on the Cononish (Glen Orchy Central) land.

See also Note 20 to the accounts which itemises liabilities under separate "Scotland Mining" and "Scotland Exploration" columns.

As for the exploration investment being estimated, that would most likely be because the commitment is for a specified programme of work, the cost of which has been estimated. It could also be because a cash commitment has been agreed in UKP but converted to AUSD for the purposes of the report.

However you may want to spin it, it is a huge commitment - and a huge surprise to shareholders who thought Scotgold were raising cash just for the mine development.

[bageo] 13/11/2019 23:09

thanks, I'd only scanned the RNS so far, I think the company wording is unclear

"On making that application, the following programme of exploration costs was proposed:" & "Minimum expenditure (est.)"

As the licences include Cononish what can be counted 'exploration' could potentially include development while drilling in the mine to expand/upgrade almost certainly could be counted. All of this and plant could be included if the wording is actually 'expenditure'.

The implied spend is far in excess of that required for exploration licences in other countries which would make me lean towards Cononish mine spend being included. It seems unlikely that spend requirements are that misaligned with similiar safe juristrictions with proven minerals.

Without the actual Crown Estate Scotland agreements I wouldn't want to make a factual judgement.

[vfb1888] 13/11/2019 21:56

Don't feed the animals

[bageo] 13/11/2019 21:24

pr100 where in the annual results (or elsewhere) did you see the required Grampian exploration spend?
thanks

[vfb1888] 13/11/2019 16:40

Mr Gary made you 300% PR100 and I see you still haven't backed anything up as per usual