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Hi Obsy and Samson.
Thank you for your excellent posts reminding us all why we are still here.
I would add that beyond the Cononish mine, the Grampian project has the potential to unlock added, nearby mining projects in the future. I'll be opening my bottle of Tyndrum Gold when the first production gold is poured!
A good weekend to all, R.
Hi Judy,
That's twice now since the autumn that a favourable article in the national press has caused a strong advance in share price. The trick is not to buy in response but to hold off until it pulls back a bit. The BBC have had camera crews following this project for many months with coverage of even AGM's and it will all be edited down into, I think, did someone say, a two-parter. That will get attention if anything will. Its worth noting that many of the trades on here are for mere hundreds, and even a ten-grander will bump the number. These volumes are what real traders call "illiquid" meaning there are not enough buyers around to sell a large holding to, should you wish to finally purchase that yacht. What we need to see is trades per hour not trades per day, and that hopefully lies ahead.
Hi Obsy,
Thank you very much for your insight into Scotgold which was very interesting! Lets just hope everything goes according to plan! I am hopeful that once we get more exposure in the media etc things will start to take off re the share price so lets keep our fingers crossed.
Thanks again!
There you go BlakeneyP, a little nudge up for the bid! I should think so too, gold now USD1,639.
Hi Judy, and welcome from a long time lurker here.
We have been on a long journey from a "gold in them thar hills" myth to now almost the reality of our first gold pour of actual underground mined ore. Along the way there are several things that make this project unique. A brief explanation may help you to hold firm while the final act unfolds.
Firstly, the UK is not a "mining" jurisdiction. There is no local body of expertise amongst risk capital financiers, mining equipment manufacturers and ore processers. So SGZ originally floated in Australia, they had a wealthy backer who has since left, and had a long road to stay cash positive while they built a team to plan and finance the project.
Secondly, this is a very unusual gold mine. It is a rich underground vein of quartz and minerals, lead, pyrites, silver and gold. It is a bit like the classical idea we have from the old films of a tunnel held up by wooden props where guys go in with picks and shovels and load up a cart with rocks which are then washed. Except that, almost nowhere in the world today are the big gold mines of this type. Think more like an open cast quarry where the gold is very spread out but easy to reach. Because the mine is unusual, it is not a shoo-in for venture capitalists.
Thirdly, its just inside the National Park boundary. To be fair, LLTNP have treated the project with positivity and encouragement, however the mere fact of all the conservation rules has added a good ten years to the timescale.
These are all factors which create uncertainty and obstacles. However all significant risks and barriers have now been overcome. We have full planning permission, all the processing kit is bought and paid for and is sitting on site, the access tunnel is nearly fully widened, the processing shed is going up as we write, and the challenges now are matters of engineering, physics and chemistry, all of which are tried and tested.
When you roll up to the Royal Mint and ask for a sovereign, you will pay a fair amount over spot gold price for a shiny new coin in a presentation pack which will look very pretty. How cheap would the gold have to be before you were happy to buy it still buried inside hard rock? That is essentially what you are deciding when you buy SGZ shares at this point. The answer is that with production costs around half the current gold price, and the share value a good deal cheaper than projected earnings, its looking good for those willing to stay the distance.
The gold is there alright, plenty in the rivers, but we're going to have to wait for that first gold pour before we can really pop the corks on our Tyndrum Gold Whisky!
Welcome Judy.
As Yayay has said, it's a long road to getting a mine going and I've experienced a few. Always 2 steps forward and one back, but here we are at last after so many years, long waits and false dawns, building the mine and approaching production by summer. When the Bulk Production Trial started in 2016, the SP reached the equivalent of £1, but in the absence of news, SPs always drift down. So here's hoping for more news of progress soon!
Regards, R.
Afternoon all,
The main reason they should mark it up is 'cos a nice bright blue would make me feel better about my holding here!
The last three sells were all above .61 and the most recent went through at .62.
BlakeneyP, should be.
For a dummy sale the price offered was .622.
Come on market makers - stop being lazy and mark it up :-)
Blekney P,why would they mark up a sale that was not completed? or am I missing something.
Hi, Judy, fear not. Many of us on here were in the red for nine or ten years! It's within a relatively micro amount of time of coming good now, so this should reward both old-timers and newcomers alike. Your 'one day' has sometimes seemed like 'sometime, never' to lots of us. But we're still here, so welcome to our ranks.
Thank you Glenalmond! No Ive been here a while trying to understand things, I bought shares last year but watching worryingly as its gone on a downward trend and wondering if I did the right thing.....as Im in the red now.....I just hope things go according to plan and there is an upturn...one day!
Using your normal method of buying or selling shares online you put in - in this case - the number of shares you wish to sell.
A few seconds later, you are offered a price for the shares you wish to sell but instead of clicking to proceed with the trade, you don't.
A harmless activity but maybe a bit pointless more than a couple of times a month.
Could you please explain what you mean?
For a dummy sale the price offered was .622.
Come on market makers - stop being lazy and mark it up :-)