Scotgold Resources Share Discussion Threads

[steelwatch] 11/7/2020 16:03

masher - my friends can just call me steel. Many years ago, I was deeply involved with RSJs, UBs and UCs, not to mention a whole plethora of other sections, plates and sheets, but specialist alloys were not my bag at all. As for curve balls, I shall don my armour so they just ping off.

[bnagersandmash] 11/7/2020 15:03

Hello Steelwatch,
I see others call you Steely and you seem to have knowledge of rolled steel joists and specialist alloys. Can I call you steely like others do?

It is a strange rhetorical question PR100 is posing. I smell a Diamonds are forever rat. Like, PR100 knew about the Galantas scooptram sale to SGZ well in advance of you, but on underground corner X, at Cononish I mine, it will not take the tight turns p q and z at this moment in time. So some further enlargement of the adit is still required. After all, he is a known eavesdropper / hacker.
Thus, look out for his curved ball surprise answers he could be queuing. An extremely devious untrustworthy person. rgds Masher -

[steelwatch] 10/7/2020 20:15

pr - what do you imagine the enlarged access tunnel h and w is?

Clue:

[pr100] 10/7/2020 19:00

[Yawn] Tell me about the tunnel. How high/wide is it and how much bigger will it become?

[pr100] 10/7/2020 17:02

The market is telling today's truth, based on low volume and a small free float. The share price has been here before and history shows that it's a selling opportunity - not that the MMs would let you sell many. Given the headwinds, I would certainly be selling at this price…but you know that.

[bnagersandmash] 10/7/2020 16:25

PR100, you have often said the market does not lie. What is the ask price today?

[glenalmond] 10/7/2020 05:58

I didn't ask PR100 the question because I have come to my own view re that agenda. I looked closely at some of his statements (certainly not all) I found some of those, in my opinion, misinformed or exaggerated.

Yup, you sure got that right, mineng.

I've seen your name about. Was it Conroy? Scotgold is the absolute polar opposite of that complete lifestyle scheisse show. Why isn't shylock trolling that mob? Hmm, agenda?

[steelwatch] 10/7/2020 01:02

Making a mountain out of a molehill one suspects.

[pr100] 10/7/2020 00:09

steelwatch, all 975 metres are barren according to the company. That's a humungous amount of waste - far, far more than would ever be needed for ground works or drainage. Maybe they'll be allowed to make a surface mountain if they promise to put it all back in 10 years?

Do we know how big the tunnel currently is and how big they need to make it?

[bnagersandmash] 09/7/2020 23:07

Hello Mineng,
One of the published and presentation given approaches by Richard Gray is not to do traditional vein on and follow the vein. The mine spiral downwards due to folding. Thus, the plan stated was to take premium parts of the vein at each subsequent descending layer and drop them into underlying catchments baskets for productivity speeds. Thus, in the early days to also reduce external stockpiling and stored waste. Highly selective initial collection. They will do the rest of the high grade vein(s) much later.
The bagging outside the approach is also innovative to avoid the burn, visibility and key environmental considerations. Hope this information helps. There are now three shifts, not two and more contingency equipment on site, so more social distancing.
Plenty of the prior old stockpiled was milled on a earlier smaller machine and turned into Gold rounds which were then auctioned off.

[steelwatch] 09/7/2020 22:56

pr - using whatever barren rock spoil from mine access workings for construction ground works and forming basal drainage layers for the dry tailings stacks.

[pr100] 09/7/2020 21:29

How much spoil will there be from 900m of tunnel enlargement and 75m of new tunnel…and where will it go?

[mineng] 09/7/2020 18:00

glenalmond

I thought it was an informative and helpful update too. I don't subscribe to the view that the development work underground can't be completed by the end of the year. Given they have had the kit way before Covid, surely a sizeable amount is done already. From a mining perspective, imho, on two shifts, the timetable is not onerous.

I was a bit non-plussed at some of the comments regarding waste and ore. I thought that the access drift was driven on-vein but I stand corrected if not so. Didn't they have a large previous stockpile, part of which was milled?

I didn't ask PR100 the question because I have come to my own view re that agenda. I looked closely at some of his statements (certainly not all) I found some of those, in my opinion, misinformed or exaggerated.

I have also found statements from VFB and acolytes misinformed or exaggerated regarding the other company, which is what I think the antagonist might have looked to achieve.

[glenalmond] 09/7/2020 09:46

mineng, why not ask the same of pr100, aka - not least by his own admission - shylock? He's been doing exactly that for years - but without the "seem".

Great update from Richard, as always. Poor quality sound and vision most likely due to low bandwidth in the area of which it was held, imo and from personal experience.

Anyone with any knowledge of the mine and members of the Scotgold team will be filled with confidence from yesterday's Proactive interview.

Of course there will be inhabitant's of Cloud Cuckooland naysaying anything what-so-ever that comes out of Richard's mouth. Such people are not worth bothering about and might indeed be well advised to mind more pressing affairs in their own wee world 😘

[pr100] 09/7/2020 09:03

Does the bumbling, stumbling, hapless Gray fill any shareholder with confidence?



"Now looking at how to move machinery and start pre-assembling processing equipment" sounds very unprofessional. This should all be known by now.

"Hoping that the plant will do what it's supposed to do" also sounds unprofessional. Is he preparing his excuses in advance?

Having nowhere to store gold-bearing ore sounds like a major problem ahead. If anything stops the flow of ore - as it will - then the processing plant will have nothing to process and the mine effectively shuts down until the flow resumes.

And accessing the gold-bearing ore will be a lengthy and expensive affair. The existing tunnel has to be enlarged over 900 metres to accommodate heavy plant and then extended by a further 75 metres in the hardest of hard rocks. Anyone who thinks this can be done by the end of this year with the equipment and resources at Scotgold's disposal is living in cuckoo land. According to this illustration, it cost over $3m to tunnel just 15 metres:


And working under Cover-19 restrictions must add time and money to the prior projections.

We already know that Scotgold's loan facility with NLR has been extended to provide drawdown up to December 2021 if needed.

[mineng] 09/7/2020 08:52

bnagers
You and vfb seem to have a vendetta against Galantas and its CEO. Why is that?

[glenalmond] 08/7/2020 18:14

Those are most interesting barras, Bnagers 😱

[bnagersandmash] 08/7/2020 15:44

Vfb1888, You look correct that the additional mining equipment is surplus to Galantas needs. Because evidence shows they have no need for proper mining equipment at Galantas.

However, I think you have identified the incorrect wheelbarrows required by PR100. When approaching PR100 and his associates and their handiwork. This type of wheelbarrow is strongly recommended. Especially when the Galantas explosive store is not properly 7 x 24 monitored and strictly audited.

[steelwatch] 08/7/2020 15:34

Kitco spot quote available by clicking the gold chart above.