Scotgold Resources Share Discussion Threads

[vfb1888] 22/5/2020 10:58

Good luck with getting your finance from Wonga Mr Wrong !lol
Your last finance deal was £1m at 15% with a 25% discount on the share price if converted , almost makes Wonga look like a good deal

Well done Roland a true Hero of his shareholders , 😂😂😂😂8514;😂ԅ14;😂😂;

[pr100] 22/5/2020 09:48

Poor comprehension again, wee Graham. I said they had gold up to 10g/t - as they reported in 2016, so it will be in their next resource upgrade. I didn't say it had been classed as a resource yet: you made that bit up, as usual.

Year 1 capex was £4.4m in 2014 and may be even less now given recently announced savings and it being a buyer's market. They will also bank revenues from the restarted milling process before they start underground mine development.

No doubt an imminent updated feasibility study will spell it out for you as they will obviously need one to raise finance.

The metrics have swung in their favour of course. In 2014 they were forecasting operating profit in year 1 with gold at £800/oz so the update should be an interesting read. By my reckoning - excluding all inferred resources - they will generate revenue of £10m in year 1 at today's gold price, rising to £33m in year 3, dropping to £29m in year 5. Add in whatever 'bunce' they get from including inferred resource in their mining schedule and the new feasibility study should be quite compelling.

At £1400/oz, it's likely they would break even in year 1 at their estimated opex of £5.7m so I should think they could easily go for a £10m financing deal if they want it. Given they will target the best grades from day 1, they shouldn't need more than £7m but the extra cash would provide some headroom. It wculd be repaid by year 2 if required.

So why not haud yer wheesht until you see the new feasibility study? You might even want to buy in ahead of it.

[vfb1888] 22/5/2020 07:36

Bla Bla Bla .
A few drill holes doesn't make a resource old chap man and if they're from 2016 there is obviously not enough of them to upgrade or it would have been done by now

The Numbers I have quoted are from the resource upgrade of 2014 making your 2008 quote meaningless . You do like those eggs on your chin old boy . lol at you again



You're out of date and out of touch with reality and you are lying again !

Tell me again how much Galantas need to get going !!! lol , you don't know do you and neither does that great CEO Roland . He is much like you , clueless

Have a watch and learn yah muppet

[pr100] 22/5/2020 00:21

Not impressed by your research/comprehension skills wee Graham.

26.1.16: "Most notable was hole OML-DD-15-155 which intersected a wide zone (13 m true width) of the Joshua vein at a vertical depth of 117 m grading 9.9 g/t Au. Drill Hole OM-DD-15- 154 intersected high grade mineralisation ~70 m from the Joshua ore body, leading to the discovery of the Kestrel vein."

It will be in the next resource upgrade.

No surprise though, considering the 2008 CIM compliant resource estimate by ACA Howe estimated Measured resources at the Kearney vein at 78,000 t at 6.35 g.t Au, Indicated resources at 350,000 at 6.74 g/t Au and Inferred resources at 730,000 t at 9.27 g/t Au."

In fact they've found up to 16g/t in the Kearney vein with more to come.

They've also been getting 92% recovery from their concentrate which is just marvellous. Remind me again what Scotgold got?

[vfb1888] 21/5/2020 22:57

100 lies , You seem to be making things up again, 7-10g/t ?? Really ??

Galantas Resource :

Measured 138,241t 7.24g/t 32,202 oz

Indicated 679,992t 6.78g/t 147,784 oz

Inferred 1,373,879t 7.71g/t 341,123 oz

You really do have to stop making things up old chap , man oh man

Lying is so you ! lol

I do enjoy our little chats , you are so funny , I love the way you are always wrong!

[pr100] 21/5/2020 20:50

Remind me again what the *actual* Au grade of the stockpile was?

Scotgold couldn't even get that right so the jury is out on their underground ore.

Logically it will turn out to be very similar to Galantas grades. But here's hoping they've not made yet another error or that Scotgold resource figure will come tumbling down.

And 7-10g/t isn't low when the cut-off is under 2g/t.

[pr100] 21/5/2020 14:28

And unlike Cononish, Galantas are able to get heavy plant into the mine without disturbing any precious bogs. That could yet turn out to be worth £millions versus Scotgold.

And let's not forget that Galantas own the freehold on 220 acres of prime gold-bearing land. Real assets vs intangibles can take you a long way. And fewer people to take a piece of the pie.

Did Scotgold ever attract any proper institutional investors? Miton own a sizeable piece of Galantas. Supportive IIs can take you a long way too. How deep are NLR's pockets?

And in case you hadn't noticed, Galantas are now processing gold again - and they have had a mega-breakthrough with the police… whereas Scotgold are stuck in the peat, a very long way short of generating revenue.

I'm not invested in either but if I wanted a small, risky, local gold prospect in my portfolio, it would obviously be Galantas…which also boasts the major advantage of not having the hapless Gray running the show.

[vfb1888] 20/5/2020 13:41

Why they skint and up to their eyes in debt then yah muppet

[pr100] 20/5/2020 07:22

They've got twice as much gold as you, wee Graham. Get over it.

[pr100] 19/5/2020 15:24

Nowhere near as much as Scotgold must pay the national park in section 75 payments…but you know that.

And remind me what the interest is on NLR's £7.5m loan facility to Scotgold?

If Cononish ever generates any divi cash for minority shareholders it will be nothing short of a miracle. They can't generate any cash until they hit decent ore, which could be 3 years from now - and then how long will it take to pay back that loan (plus the other loans which now look certain to be needed based on the last update).

A mine life of around 10 years makes it a lemon for PIs.

[vfb1888] 19/5/2020 13:19

Add the interest old chap !
That convertible £1m is at 15% + a 25% discount if converted
What’s Oceans ? 8.75 % +
Roland 6.75% +
How much for the Police
What cost going forward for the Police
How much required to get going
Roland burns money for fun.

Wonga next old chap man 😂😂😂😂8514;😂

[pr100] 19/5/2020 11:20

Based on their respective gold resource, either GAL is a screaming buy or SGZ is a screaming sell.

Given that GAL is about to start generating revenues again within a week and now has agreements in place to commence ore blasting later this year, while SGZ has yet to start building its plant and may have insuperable environmental problems, both could be true.

And Phelps trumps the hapless Gray any day of the week.

You also need to factor in how much cash both will need to get them to break-even. Even with the balance of their ever-extending loan facility available to draw down, SGZ are publicly stating that they may not have sufficient funds to bring the Cononish mine into production. So tread carefully.

[mineng] 19/5/2020 09:14

VFB
Your comments drew me to check the numbers.

SGZ Dec19 accounts : Total Borrowings, Note 9 Aus$ 9,056,248
At advfn forex today that translates to £4.84m

GAL borrowings Sept 19 accounts :
Ocean Partners loan US$1.6m (£1.3m today forex)
G&F Phelps Ltd Loan £1.82m + £0.53m accumulated interest
Dec 19 Convertible debenture £1m
Total : £4.65m

I suggest that debt levels may be broadly similar.

Comparing Market Cap :
SGZ : LSE today : £29.01m
GAL : LSE today : £6.79m

Comparing Gold Resources
SGZ : Total 266,000 ozs M+I+Inf (SGZ website)
GAL : Total 521,109 ozs (M+I+Inf) (Gal website)

Clearly the two companies look dissimilar in Market cap and Resources.

[vfb1888] 16/5/2020 20:20

For the record, shylock was proved on "Multiple" occasions to be a liar !

[vfb1888] 16/5/2020 20:12

So you can't prove me wrong Shylock , lol spineless coward !
Would you like me to drop you all the numbers in an e-mail ?
Let me guess [e-mail]

[vfb1888] 16/5/2020 18:01

Shylock , you could always try and prove me wrong on anything I said on GGP.
My rift was with CB and when GH took over I let it be , they were .007 at that point!
Great time to buy old Chap.

Prove me wrong , go on, lol at you.

Quack Quack , lol

[vfb1888] 16/5/2020 17:44

You don't like being made to look the fool that you are old Chap. Man you are funny.
Can't prove anything and never answer anything.

In your own time old chap , tell me how this is booming and how the ordinary guy wont get slaughtered.

Roland Phelps is owed how much ?
Ocean is owed how much ?
Melquart is owed how much ?
How much is owed for the Police ?
How much finance to restart ?

Debt = MC, you silly old man

Boom , lol , silly old man

[pr100] 16/5/2020 14:13

So was the "20% premium" on all Cononish gold a deliberate scam to mislead your forum "mates" or were you just being dim?

You don't even deramp very well. Do you ever revisit your Greatland Gold posts from 2015/16 and feel any embarrassment?

What you are good at is constantly getting it wrong.