Scotgold Resources Share Discussion Threads

[steelwatch] 07/12/2020 13:41

Needs iTunes to play. 1 hour 25 minutes, so bear with it.

[glenalmond] 05/12/2020 19:20

if you're talking about me 😄
vfb1888's wolf pack 😂
This wolf hunts alone Shylock and you are a liar. The end.

[pr100] 05/12/2020 12:42

glenalmond, if you're talking about me, you're making it up. Unlike you and the rest of vfb1888's wolf pack, I never believed there were nuggets in the mine. I went by what the company and its competent person said - not by what was inferred by the rampers.

Here's a pub quiz question for you: how many grains of gold so small that they can't be seen by the human eye does it take to produce 6 tonnes of gold?

[glenalmond] 04/12/2020 19:06

Out of Doors
As production starts at Scotland's first commercial gold mine, we hear live about the challenges of mining for gold and how it all works from Richard Gray from Scotgold.

[steelwatch] 04/12/2020 13:34

Gold steady around the £1366 mark due to sterling matching against a weak $. If the £ was still at $1.29 as it was not so long ago, at the current gold price of c. $1840, the sterling equivalent would be over £1400 now. Let's see what the Brexit end game brings.

[glenalmond] 04/12/2020 11:40

Thanks Troajan on LSE. He gets notifications earlier than I 👊😄

Scotgold 'expected to command a significant premium in the market' says Alastair Ford

activeinvestors.co.uk/companies/news/935735/scotgold--expected-to-command-a-significant-premium-in-the-market--says-alastair-ford-935735.html (lose the space, as the link fails to copy in here).

Mining capital's Alastair Ford explains the significance of Scotgold Resources' (LON:SGZ) first gold pour at its Cononish mine, marking a milestone to becoming Scotland’s first commercial gold and silver operation.

The company is now focused on completing an accelerated expansion plan to increase production at the mine to 23,500 ounces per year.

The annual production rate target is 36,000 tonnes and total gold production of 9,910 ounces for 2021.

Ford says to be able to sell the gold as specifically 'Scottish gold' is expected to command a 'significant premium in the market'.

Meanwhile, be assured that all is in good order at Cononish and that there will be plenty of news from there over the coming weeks and months. The BBC documentary is being edited although the timings for release are as yet unconfirmed. BBC Radio Scotland's "Out of Doors" team are aware of what is going on and hopefully Scotgold will feature on a programme in the not too distant future. Finally, the poster pr100 would be well advised to wind his neck in. That is all.

[doyourresearch] 04/12/2020 10:06

Just starting to take a look at this company. I see that the NPV8 in the annual report has a value of GBP98m and the market cap is around GBP60m. That isn't much of a risk discount bearing in mind that the assumed gold price for the NPV calcs is GBP1,400oz

Am I missing something here? Is there some indication that with a bit of drilling the JORC can be significantly expanded and thus mine size/life expanded? If not, it seems too fully valued to be of interest to me

[plasybryn] 03/12/2020 22:27

It's often the case with armchair directors. For some reason they think they could do better but in reality they probably have no idea how hard and complicated it is to bring a mine into production especially when early on the price of gold collapses and financing just isn't possible. This is a great success for the Co. for shareholders and for Scotland and all those who benefit from it - employees, suppliers, in fact all stakeholders. I look forward to the ongoing development story which will undoubtedly create value for all. But DYOR.

[pr100] 03/12/2020 19:39

Barony, welcome. I'm told that it is very constructive to highlight the shortcomings in Scotgold's management, performance and claims. Surely you don't want to see only pumper posts from the happy clappers?

[biuedolphine] 03/12/2020 17:28

He's consumed by spite Barony. Sad man, so bitter and twisted.

[pr100] 03/12/2020 12:39

In the other place, Samson seems to have fallen for the notion often - and wrongly - spread about by the hapless Gray that Scotgold is now fully funded. As he will find out soon enough, this can't be so.

Cononish continues to consume vast amounts of cash and won't deliver an operating profit for the foreseeable future. Meanwhile, consider the facts:

Balance of NLR £7.5m secured loan facility at 30 June = £1m
Net Current Assets at 30 June (incl £1m cash) = £1.4m
Net proceeds of Oct placing = £2.8m

So, at best, Scotgold have £5.2m available.

But they made a 2020 loss of £2.5m so that leaves £2.7m available.

That may be enough to keep them going for a couple of months but it has zero chance of seeing them through to cash generation - especially as the new plant won't be commissioned until February, the hapless Gray belatedly tells us.

And the plant will be processing low grade ore for the foreseeable future so it could take a year or more to start throwing off cash. Longer if the grades are worse than trumpeted, as they usually are.

So, if everything goes swimmingly between now and then (no chance given Gray's form), Scotgold will need to raise around £10m to keep the lights on. That will happen in tranches with each tranche offering the promise of now being fully funded. But it won't be. It may never be under current ownership and management.

[glenalmond] 02/12/2020 13:40

Yaaaaaaaaaaaaaaaaawwwwwwwwwwwwwwwwwwwwwwwwnnnnnnnnnnnnn

[pr100] 02/12/2020 12:47

Today's Proactive interview is surely the hapless Gray's worst performance yet! No wonder the pump club haven't posted it here yet. Steel yourself:



…or try if that didn't work.

Apart from his awful, downbeat/halting delivery, the exceedingly glum-looking Gray now confesses that production won't start for THREE MONTHS which is his estimate for commissioning of the plant. Based on the hapless Gray's past form, you should double that and cross your fingers.

What a farce! Y'all have been conned by his intentionally misleading gold pour stunt/non-event. He has all misled the media and hence the markets so stand by for repercussions.

I keep telling you what to expect…and I keep getting it right. Meanwhile the rampers' club will doubtless continue to play down this farce, or ignore it. They are not the ones to listen to.

[steelwatch] 02/12/2020 12:22

Snapshot several minutes ago:

Gold - $1821
$/£ - 1.3340

Sterling Gold Price £1365

[pr100] 02/12/2020 08:38

Cononish is obviously nowhere near commercial production yet. While you wait for the eventual plant commissioning RNS, bear in mind that the hapless Gray hasn't yet received a green light from the planning authority either (worse, they are currently operating under a red flag).

Then we will have to differ about what constitutes a successful mine development. It's not about producing gold but making a profit. If and when Scotgold ever delivers a profitable PLC, that would be worthy of celebration. My opinion is that the hapless Gray with his long track record of missing targets and begging for ever more cash, is not the man to deliver that.

Until then, any fool can throw money into a pit.

[hyper al] 02/12/2020 08:29

Well done to all those that made this happen.

:)

[henrik1967] 01/12/2020 20:10

Your only as good as your last job , the hapless Gray as you call him did what he said he would and he will go down in History as the first CEO to bring a Gold Mine in Scotland into Commercial Production. I would say that makes him a lot less hapless than you