Scotgold Resources Share Discussion Threads

[johny cash] 09/3/2021 15:56

I would not trust this rise. If pog not down by friday, I will eat my keyboard. Mind you I have just had to buy a new one over Tesla today.

[pr100] 08/3/2021 15:59

You tell me, mineng: I was just taking notes from the soundtrack.

[mineng] 08/3/2021 15:22

pr100

No one said that they had bought that particular drill.
Wasn't that the temporary loan machine? When was it filmed?

[pr100] 08/3/2021 09:19

Unsurprisingly, there doesn't exactly seem to be a rush to buy shares after last night's opening episode of the downbeat/boring 'Gold Town' on BBC Scotland. Being an Open University co-production, it was never going to be as compelling as Discovery's 'Gold Rush' - but they surely could have shown some gold, other than wee Graham's BPT round which he whips out of his pocket at every opportunity.

The cast of CEO, a couple of managers and 10 or so rookies-in-training doesn't inspire confidence. The least dynamic gold mine crew ever to have cameras pointed at them accepted no responsibility for the constant problems and delays - all of which should have been foreseeable but none of which was ever built in to accurate forecasts.

We learnt that they had spent £400k on a drilling machine which wasn't suited to the job at Cononish. Was that the hapless Gray's decision?

We learnt that the Cononish gold was "microscopic" - but a few of us knew that already.

We learnt that gold ore was being stockpiled as long ago as October 2019 (albeit not enough to produce more than an ounce at the fake first gold pour). Presumably they had to stop bringing the ore out as they don't have any more storage space for it.

We saw that the place got boggy and that they were brought to a standstill by the unexpected amount of precious peat on the site. Which dolt carried out the peat survey?

We heard from far too many foreign tourists. Who cares whether they knew about the Cononish mine or not?

And we heard nothing from the local authorities who could have added some much-needed interest.

The chairman put in a cameo appearance and not surprisingly seemed worried.

More of the same to come; but this 3-part series ends with the fake news of the scam gold pour. Scotgold at least had the sense to kick the TV crew out before it became obvious that the scam gold pour was just the start of their latest troubles. (Did the hapless Gray delay the latest bad news so that the TV crew could finish on a high?) Maybe they'll film part 4 - the one where the mine produces 1 ounce of gold (allegedly), the new plant fails to process the ore and has to be redesigned, they run out of cash yet again, the CEO gets sacked and the share price falls off a cliff. That would be worth watching.

[pr100] 07/3/2021 09:15

For those not thinking straight in the other place, Scotgold will want to maximise their profit - and Scottish gold will only make sense to an accountant if they can sell it for a premium which at least covers its extra production cost. (They might be willing to take a hit for a short time if they can't get the required premium because the PR value of Scottish gold is worth something; but that value will diminish after the first year of production.)

ISTR that the BPT gold was sold for a premium of at least 30% and the jewellers who bought it would obviously have passed that on to their customers. But the fact that Sheila Fleet still has stock of their Scottish gold pieces after 4+ years indicates that it hasn't flown out of the door at the premium price. So I assume that the premium the jewellers are willing to pay will now be lower than it was back then.

If it costs Scotgold 30% extra to produce Scottish gold then they will need a 30% premium, otherwise it will be re-routed to spot like the rest of the gold. Based on their statements, this has always been Scotgold's strategy if they can't find a Scottish smelter to produce it more cheaply than they can at Cononish. They were looking at alternative production routes but everything went quiet on that front which presumably means that none has been found.

It's not rocket science.

[pr100] 06/3/2021 07:23

Lockdown won't have helped jewellery sales over the past year but even so Sheila Fleet still have a selection of Scottish Gold jewellery for sale - a full four years after they took delivery of the BPT gold from Cononish.



So did they overestimate demand? Is the much-touted "Scottish Gold premium" dead in the water? For sure, if Scotland's leading jewellers can't shift premium-priced Scottish gold then no-one can.

Not that it will matter much to Scotgold. ISTR that it costs them 30% more to produce provenanced Scottish gold, in which case they would make the same or better margin by channeling all gold into the concentrate and settling for spot - which I suspect has been the plan all along since they never included the Scottish gold premium in their projections.

[steelwatch] 05/3/2021 21:50

Who knows?



Volatility cuts 2 ways.

[pr100] 05/3/2021 08:43

I assume that no-one wastes their life reading the constant stream of fabrication, conspiracy theory and opacity that the risible Risk.Manager spews out for his own pleasure, but just in case he has fooled anyone into believing that the above posts are untrue, check out the facts for yourself. It is extremely dangerous to rely on other posters for research when the other place is polluted by LTHs whose sole ambition is to mislead you into thinking that everything in the garden is rosy.

Specifically they tell you that this comment above was a lie: "The price of gold continues to fall and is now £175 below the £1400/oz level on which the life-of-mine economics are now based."

And yet they must have read the following words in Scotgold's 30/11/20 RNS:

"Recalculated model using the accelerated Phase 2 development strategy and gold and silver prices of £1,400/oz and £19.23/oz respectively deliver highly attractive Life of Mine ('LOM') economics."

So I posted yet another fact - one of many that the scammers and rampers choose to ignore in case it damages their wealth.

Meanwhile, to distract you from this fact (which must surely see the LOM economics projections revised soon), wee Graham/henrik1967/TyndrumBoy1872/CP52/vfb1888/etc talks instead about the average AISC which even if it were accurate when it was first published, certainly isn't accurate any more.

Tread carefully. They're out to con you.

[pr100] 04/3/2021 09:38

Here are just a few of the big news topics you won't have been able to read about on the Scotgold Twitter ramp written by wee Graham/henrik1967/TyndrumBoy1872/CP52/vfb1888:

- "Resignation" (sacking) of hapless CEO, Richard Gray;
- New plant failure delays production yet again;
- The price of gold continues to fall and is now £175 below the £1400/oz level on which the life-of-mine economics are now based;
- The Scotgold share price has dropped by over half since the disastrous "first gold" scam.

The irony is that while honest LTHs know full well that the Hapless Gray should have been sacked a long time ago, Mr Market doesn't like the look of it. The natural read across when a CEO is sacked weeks before a mine is due to start producing is that the problems are worse than described in the RNS.

And it sure doesn't help when the geologist who oversaw the CPR and resource estimates "resigns" at the same time.

So it's not surprising that Mr Market thinks something is seriously wrong at Cononish.

[henrik1967] 26/2/2021 16:31

Bye Bye sugardaddy , lol

[henrik1967] 26/2/2021 16:30

Believe him at your peril. Thankfully, there are still a few good men who post honestly
And pr100 is not one of them , lol , go crawl back under your rock old chap man

[pr100] 26/2/2021 11:03

Good to see that a few good men, such as Eck71 and yayay, won't allow themselves to be duped by arch conman TyndrumBoy1872/CP52/vfb1888/wee Graham/etc/etc in the other place - whose first post under his latest alias on 31/1/2021 at 19:21 was a blatant attempt to mislead the people who didn't know who he was into buying SGZ shares as the price plummeted downwards.

The same conman who claimed on his Twitter feed that 100% of the gold from Cononish would attract a 'Scottish gold' premium.

And the same conman who redacts all the negative news such as the production delay from his Twitter feed in case it puts anyone off buying.

And sadly the same conman who calls anyone a liar who posts any of the negative truth about Scotgold in a public forum.

Believe him at your peril. Thankfully, there are still a few good men who post honestly - in fact a growing number after the debacle of the last three months.

[laptop15] 18/2/2021 10:16

Lot.of goldies dropping but this seems to dropping more..thought the 80s was cheap lol

[laptop15] 18/2/2021 10:15

Some drop here isn't it....what's going on??

[coliwobbles] 07/2/2021 23:18

Henrik, think this one's just perfect...

'Tell me lies.....you can't disguise...'

ROFL

[henrik1967] 07/2/2021 21:26

sugardaddy,
Just for you !

[coliwobbles] 07/2/2021 20:58

Henrik, I've sent a copy of my email to admin to the same guy at the FCA that dealt with him last time. Lets him know that admin over there are aware and should prohibit the protection he was afforded by them last time.

[coliwobbles] 07/2/2021 20:52

Henrik, you and I both know he's too much of a narcissist to do that....

He'll be composing an email, threatening legal action. Which they'll be expecting.
I told them that would be his next move.....ROFL

[henrik1967] 07/2/2021 20:45

Could always try doing one , lol

[coliwobbles] 07/2/2021 20:11

shylock, you could always try your JIM33 one instead.....ROFL

[coliwobbles] 07/2/2021 20:04

Nae luck shylock..... :-)

Always watching....

I like to think of myself as a 'shareholder activist'.... :-)