Scotgold Resources Share Discussion Threads

[pr100] 16/12/2019 12:06

This is the second in what could be a long line of delays. Production was first touted for the end of this year, then for Feb 2020 and now for May 2020.

The hapless Gray clearly doesn't subscribe to the "under-promise and over-deliver" philosophy so don't bet the house on his assurances - and especially on his assurances about being fully funded.

[steelwatch] 07/12/2019 19:13

Already gott'm thanks glen, courtesy of baz.

[glenalmond] 07/12/2019 17:54

30 coins, Steel

[vfb1888] 05/12/2019 14:17

Meaty , lol that's the summer

[meaty] 05/12/2019 13:34

Weather warningsScotland soon to embrace a very cold winter apparantly, with a long sub zero period.

[vfb1888] 04/12/2019 18:01

More visible Gold

[vfb1888] 04/12/2019 17:54

More visible Gold
A. Visible gold from Cononish core in hanging wall of vein
B. Visible gold from surface trenching above Cononish vein
C & D. Panned gold from burns around Tyndrum

[vfb1888] 04/12/2019 15:16

PR100 ,Run along and tell teacher again ! You don't like the truth being thrown at you do you OLD CHAP MAN

[pr100] 04/12/2019 14:48

LOL - let's call it a nugget shall we?

[vfb1888] 04/12/2019 13:40

Things can only get bigger

[pr100] 04/12/2019 11:44

Och, check the BFS wee Graham: it's all in there - and plenty other references since 2012.

You've got to stop daydreaming as it will end badly.

[pr100] 04/12/2019 00:31

The old Lenigas trick!

Tip for the finder: if you don't want people finding out where it came from, don't tell anyone about it - except the guy you sell it to.

No doubt the investors in Scotgold's invisible gold will try to whip up some excitement while remaining oblivious to the coincidence that the two largest nuggets allegedly found in the past 500 years both came along within a few months of each other.

The only certainty is that it didn't come from the Cononish asset where the microscopic gold grains can't be seen with the naked eye.

[bageo] 03/12/2019 22:18

the gold from the bulk processing trial has finally been found ....

hxxps://www.bbc.co.uk/news/uk-scotland-50645322
UK's 'largest' gold nugget discovered in Scottish river

or maybe not

[vfb1888] 03/12/2019 20:38

Any time now you will look like a prize plonker won't you OLD CHAP MAN
Suck it up OLD LIAR WHILE YOU CAN

The Company wishes to make clear that only the Licence Fee is a contracted amount and is conditional on the Company continuing to hold all 13 licences over the remaining five year period ending in November 2024. The exploration figures were proposed estimated figures provided at the time of the application (as the Note 17 in the 2019 Annual Report made clear), which the Company is not contractually obliged to spend. The figures are also subject to material change over time. The figures may change owing to the results of exploration and the available cash resources to fund exploration. For example, the Company's budget for the year ending 30 June 2020 currently anticipates that exploration spending will be approximately A$0.5 million. For the year ended 30 June 2019 the Company's exploration spend was approximately A$0.6m.



Scotgold's licences are subject to a bi-annual review by the Crown Estate Scotland commencing in November 2020. The contractual test to retain the exploration licences requires the Company to provide the Crown Estate Scotland with satisfactory evidence of the Company's progress towards obtaining planning permission for the licence areas. At such reviews the Crown Estate Scotland will assess a progress report provided by the Company. Such reports will include a review of past exploration work and proposed new work programmes. Whilst the amount of exploration expenditure is a relevant consideration as to the granting and retention of licences, it is one of many considerations and not determinative.



The Directors of the Company remain confident that all of the Company's financial commitments, including those relating to exploration activities, can be funded for the foreseeable future from existing cash resources, loan facilities and anticipated future cash flows from the Cononish gold mine, which is expected to commence production at the end of February 2020.



For further information please contact:



Scotgold Resources Limited

Richard Gray Tel: [phone]

[pr100] 03/12/2019 20:10

I'm sure Scotgold can find some licence for something that comes up for review in November 2020 but I don't see how they can be referring to the Grampian options which I'm sure will be reviewed much sooner, ie any time now.

[pr100] 03/12/2019 16:54

Och, have you just come in for your tea, wee Graham?

The point is that the licences can be released to avoid incurring the expenditure so it would become a choice between spending the money or handing the options back.

As I said, I'm sure we will be able to see this play out over the next few months. The first deadline is upon us - and Scotgold being brassic is not an excuse likely to play well if there are competitors waiting in the wings.