Scotgold Resources Share Discussion Threads

[henrik1967] 07/2/2021 20:02

Bye Bye sugardaddy

[steelwatch] 04/2/2021 16:33

Thursday, in its annual report, the LMBA said that 38 market analysts participated in this year's forecast survey. Gold prices are expected to average $1,973.80 an ounce, up 11% from the 2020 average. However, the outlook is only a modest 4.5% increase compared to the average price seen in the first half of January.

"Gold is expected to be subjected to a high level of volatility in 2021, with the widest forecasts predicting a high/low range of $1,192 compared to $780 in 2020," the LBMA said in the report.

[pr100] 04/2/2021 15:51

Gold price tumbling:

[pr100] 04/2/2021 08:02

Lots of snow (best in years say the empty ski resorts)

[pr100] 03/2/2021 12:10

They say they are fully funded but they have said the same countless times before and it always turned out not to be true. I suspect that it has been their strategy to hook investors in with a promise of needing no more cash, and then rinse and repeat every few months.

Anyone who today believes they are fully funded should think about Albert Einstein's words: "The definition of insanity is doing the same thing over and over again and expecting a different result."

The latest delay to production makes it even more likely that they don't have enough cash - especially as they have to process lower grades for many months before they reach the best ore.

The hapless Gray also keeps pushing out production start dates which turn out not to be true; so the latest forecast of end February has to be taken with a pinch of salt.

[steelwatch] 03/2/2021 11:29

Teething problems at the processing plant. See RNS 29/1

[laptop15] 03/2/2021 10:18

Why the drop from the 120p placing??

[laptop15] 03/2/2021 10:17

Do they have enough cash here guys, 10,000 oz a year production is quite modest to start

[henrik1967] 31/1/2021 13:16

Pictures of the visible gold from Cononish are awesome old chap

[pr100] 31/1/2021 11:56

And there are allegedly nuggets found in the watercourses around the area; but regardless of how often you trip over a lump of "gold" in the car park, the Cononish ore contains no nuggets, according to the management and the CPRs.

You'll just need to settle for what you've got instead of looking around enviously at nuggets from outside the resource. (Not that I expect anything less from the ramper who tried to persuade anyone who would listen that all the gold at Cononish would attract a 30% premium.)

PS. Your Twitter followers might be wondering why you haven't yet tweeted about the latest delay to production and the "negligible" gold produced since your last rampant tweet.

[henrik1967] 31/1/2021 10:55

I don't need to discuss it with anyone , I have seen it as have many others who have visited the mine , maybe you should visit and educate yourself . Seeing is believing !
This is my favourite piece of Visible Gold from above the resource at Cononish, it's the same piece that is on the Scotgold website but this is a better picture

[pr100] 31/1/2021 10:02

But that (unattributed) document doesn't tally with all the other evidence does it?

I have pointed to recent statements by the CEO and company geologist that all the Cononish gold is very fine; and to published papers by learned scientists which declare that the Cononish gold is invisible. And numerous published segments by company director Chris Sangster, that the gold is invisible.

Why would you dispute what they are clearly telling you? The CEO isn't likely to downplay the gold particle size is he?

I would assume that based on the weight of evidence and the seniority of the sources, most rational people would accept that there are no nuggets at Cononish.

Seriously, you need to discuss it with them, not me.

[henrik1967] 31/1/2021 09:41

Simply scroll down to the heading of VISIBLE GOLD AT THE CONONISH DEPOSIT
You'll find some nice pictures of Visible Gold from Cononish

[pr100] 31/1/2021 01:59

Scotgold director, Sangster, has said and written on multiple occasions that the gold at Cononish is invisible.

Scotgold CEO, Gray, told BB Radio Scotland only a month ago that the gold at Cononish is "very, very fine" and much finer than the amateurs find in the watercourses around Cononish.

Scotgold Geologist, King, told the Edinburgh Geological Society only a week ago: "You don't normally really see gold" but might occasionally see flakes smaller than 1mm if you're lucky. You can listen in for yourself on the Scotgold website at - just go to 12:10 of her Jan 2021 video.

You seem to be having trouble coming to terms with what your management are telling you. Does this help you:



This is an Applied Earth Science Paper by these luminaries: N. J. Hill1, G. R. T. Jenkin, D. A. Holwell1, D. Catterall, A. J. Boyce, D. Mark, J. Naden, G. Gunn, C. M. Rice from University of Leicester, Scottish Universities Environmental Research Centre, British Geological Survey and University of Aberdeen. It says about the Cononish deposit:

"Gold is hosted in electrum and within sulphides, with a lack of visible gold."

Instead of harassing me for pointing you to these indisputable facts, I can only suggest that you sort it out with the company sources, messrs. Gray, Sangster and King, and then hopefully you will find peace.

[henrik1967] 30/1/2021 22:42

Covid allowing I will be at every event and will explain my every action , will you PR100 ?????????

[henrik1967] 30/1/2021 22:39

Try it for yourself PR100, or just continue to hide behind your keyboard .
never show your face at a presentation , never go to a mine tour , never go to a AGM .
Keyboard only people , highly trusted , lol

[henrik1967] 30/1/2021 22:35

Hey PR100,
Here is some more VISIBLE GOLD from Tyndrum , the place is just covered in Gold you should try it out , lol

Every stream , every burn , every river

[henrik1967] 30/1/2021 22:26

Visible Gold , was what old chap man Said wasn't it, you changed that for nuggets bad pr, 100 times over old chap man

Hey price has almost dropped to what you sold at , lol at you again

[pr100] 30/1/2021 20:51

Just checked your Scotgold Twitter feed wee Graham and shocked not to see anything about yesterday's big news downer. Are you planning to fill the gap with more photos of someone's nuggets?

Are you on the payroll there?

[b2g1] 30/1/2021 14:46

Hi Pr100, as a newbie so to speak and already losing money due to the share price falling how low do you think this could go?
I have all weekend to think about my next move but of course I dont want to lose any more money!

[pr100] 30/1/2021 13:44

How the hapless CEO kept shifting the goalposts. Just saying…

19/12/2018 - December 2019 forecast for production
28/8/2019 - March 2019 (civil engineering design delay)
16/12/2019 - May 2020 (peat issues)
27/3/2019 - “Beyond” May 2020 (Covid)
4/9/2020 - November 2020 (Covid)
12/10/2020 - November 2020 - and Phase 2 brought forward to May 2022 (£3m fundraising)
30/11/2020 - November 2020 (“on schedule”)
1/12/2020 - First gold pour (allegedly) - but production delayed to early 2021 (still testing plant)
21/12/2020 - “The Company is pleased to report that the complete plant has now operated at the design throughput rate of 7.5tonnes per hour” and
“we enter 2021 having achieved our first Gold Pour on schedule, and we do so with an operating mine that is well placed to achieve our planned production ramp up”
29/1/2021 - March 2021 - “negligible production in January” (problems suddenly announced with materials handling, pump choice, filter press circuits and slow recruitment)

For sure, Covid didn't help but most of the reasons for the delay have been self-inflicted and should have been pre-empted by a capable mine management. Unfortunately, Gray hadn't even been a director of any company before being inexplicably given the CEO's job at Scotgold. The Chairman must take the blame for that decision.

The Covid delay should have given Gray even more time to test and plan properly but he didn't take it. Instead, the share price was ramped up with new metrics based on bringing forward Phase 2 and £1400 gold - to justify the £3m placing at 110p (heavily discounted at the time) in Oct 2020.

Having failed to notify the market of any of the problems which were obviously growing, Gray was forced to deliver a "gold pour" of sorts on 30 Nov but this was clearly not the promised start of production.

The 1 Dec RNS made it clear that production had actually been delayed to "early 2021" due to ongoing testing.

The feelgood 21 Dec RNS surely misled investors into believing that everything was on schedule and then came the 29 Jan 2021 RNS revealing that Jan production had been negligible due to numerous previously unannounced problems. Production is now delayed until end Feb (March) but Gray's credibility is now so low that few will believe him again.

That will depress the share price going forward - as will the probable cash shortfall caused by the latest delay…and the hurt to the mine metrics which are now based on £1400 gold (currently at £1345).

The above record surely proves that the CEO is not up to the task - either as a mine developer or as a communicator, or as the head of a public company. Shareholders should be lobbying the Chairman for change - before the share price halves again.

We know that there are no nuggets at Cononish but Gray isn't delivering gold at all.

[meaty] 30/1/2021 00:02

Rns 28th Aug 19 gave profitable project projections at £920 and £1200 gold price. Pr100 should maybe refresh himself before insinuating that the project is not profitable at current £1348. I held from 38p to £1 and may dip back in if it drifts a bit lower. 20p will never happen though imho.

[cinoib] 29/1/2021 09:22

Still watching and waiting, am sure 20p will be reached t some point. I hold a few oldies which produce and pay divi and all well below the cost of this one. Is in a safe place, yes and on home soi, but well over inflated price.