Scotgold Resources Share Discussion Threads

[pr100] 03/12/2019 13:46

So it looks like Scotgold have fooled you, wee Graham.

Look up "Bi-annual" in your dictionary: it means twice a year.

If the reviews were to be every two years, the word would have been "biennial".

FWIW, Crown Estate Scotland don't use either word. They state only that the fees will be reviewed every two years, not that the overall agreement won't be reviewed more regularly.

And the Crown Estate Scotland PDF clearly states that automatic progression from one phase to the next is only available to applicants who have been awarded an option for six years or more, which Scotgold haven't.

And given the fact that Phase 1 of the 5-year option expires next month, I suspect Scotgold are also wrong in stating that reviews will commence in November 2020, ie two years into a five year agreement and almost a whole year after the expiry of Phase 1 and its $5.9m commitment.

I'm sure we'll both be watching this play out - and it helps if you know what the words mean.

[pr100] 03/12/2019 10:45

Assuming that Scotgold do need to raise $5m+ as I believe they do, how deep are NLR's pockets? Would they have to go to the market and issue new equity? That option is the main reason they are listed of course but dilution at 80p+ would have been a lot less painful than dilution at fast-approaching 50p. OTOH, they have never been able to interest the institutions in the project - and the hapless Gray would be a barrier too - and PIs haven't been keen to take up rights when they were offered so maybe they would have to turn to one of the death spiral financiers. But even then, the lack of liquidity here wouldn't appeal to them either. So it could be a crunch time over the next few months.

It's a lot more fun to watch events unfold having sold my shares (and options) at last.

[pr100] 03/12/2019 09:53

Only 30,000 shares traded today and the share price has already plummeted to 57p to sell.

Is it just option shares being cashed in (plenty more to come I assume) - or are there other worries?

[pr100] 03/12/2019 08:15

Welcome Mittenmac. Which of my gems of wisdom do you disagree with? And how knowledgeable/experienced an investor are you?

Btw, no need to mis-type my name in the same way as vfb1888. It doesn't include any caps.

[mittenmac] 02/12/2019 14:59

PR100 what an idiot that you are! The selling of shares seem to continue whats your end game?

[mittenmac] 02/12/2019 14:59

PR100 what an idiot that you are! The selling of shares seem to continue whats your end game?

[pr100] 02/12/2019 13:21

Wee Graham, good to know you're alive and kicking. Do drop by the other place too.

So what's the story here? Why so quiet/glum? Haven't you got any new snaps to post to Twitter? I think it brings joy to the troops to see progress on the ground.

How's the war chest? Enough left for a few wee top-ups in the market to halt the share price decline?

I do hope the regulators aren't sniffing around.

[pr100] 02/12/2019 13:01

How accurate is the weather forecast up there? I see snow arriving on Dec 10, becoming heavy by the 13th. Presumably factored in…

[pr100] 02/12/2019 12:33

Selling at 63p today and more to come no doubt. Meanwhile some poor mugs haven't even received their option shares yet. Time is money if the share price is heading back to 40p range...

Worryingly quiet here and in the other place. New strategy from the hapless Gray? Or bad news looming?

Maybe the Aussies forgot their spanners?

[steelwatch] 01/12/2019 17:15

Mitt - pr100 is going on and on and on and on and on and...

Quite a fetish with him.

[mittenmac] 01/12/2019 13:33

Why all this in fighting between certain people I cant understand why people are not being positive and looking forward! Whats going on?

[pr100] 29/11/2019 14:20

The estimated figures were unchanged at the recent sign-off of the annual report at which point $5.9m was due to be spent on Grampian exploration by 31 December 2019. If these timelines should change there would be a material impact on the company's liabilities so Scotgold would have to announce any change.

As things stand, next month is crunch time and could result in licences being handed back.

[vfb1888] 29/11/2019 13:48

It all points to you having an obvious agenda

“The exploration figures were proposed estimated figures provided at the time of the application which the Company is not contractually obliged to spend. The figures are also subject to material change over time."

Of note is you not defending your crimes

[pr100] 29/11/2019 13:07

It's pointing to some of the new Grampian exploration licenses being handed back sooner rather than later imho. That would be true to form, Gray having already wasted PIs' hopes and cash on the short-lived France and Portugal licences.

But why no explanation in the annual report about the conditions and liabilities of these Crown Estate Scotland option agreements? Especially in light of the 3000%+ increase in cost from $0.5m to $16m… They are described only as MINIMUM estimated expenses - failing which the licences are withdrawn.

It all looks a bit dodgy to me.

[vfb1888] 29/11/2019 12:36

Let's start with this little example of you misleading people with false information
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“Looks like turkeys are being asked to vote for Xmas. Surely NLR and associates are looking to grab the asset/security at the first opportunity? That's assuming the bank agrees to an extension - which they haven't yet done so they could theoretically foreclose on Monday.Even assuming that the bank plays ball and the NLR deal is voted through, how can SGZ raise funds for any sort of production when Marketco already have an option on 100% of the production? What's left to base an offtake deal on?And where's the new feasibility study? How can they be forecasting production from this month?Why no comment or discussion today? Is it shock?” (6/27/2014)
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MarketCo have an option to purchase approx.25% of our production at a 10% premium less refining costs our Scottish Gold is sold at a 30%+ premium to spot. Scotgold will own 40% of Marketco

A prime example of you distorting the TRUTH