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The same amateurs who couldn't even forecast the grade of the BPT stockpile; or make more than a few ounces of Scottish gold; or fake a gold pour so that anyone might believe it; or keep within their permitted mine boundary; or keep any promises; or…?
When SGZ bought licences in Portugal and France when they were skint, it was obvious that they were amateurs just playing themselves.
This mob couldn't have organised a scurry of squirrels into a nut raiding party on local back garden bird feeding tables. Shocking mismanagement of what was seemingly an ambitious but doable and ultimately profitable project. Shame on them, but the arrogant will "choff choff" it off with mutterings of peasantry in their smoke filled oak panelled drawing rooms. Another dram anyone"choff choff", damned peasants "blah blah blah". :o).
Too many wines. Tyndrum Inn that should say
Anyone up for an ironic knees up in the tyndrum for inn?
"They think it is all over..........it is now!"
Red faces for the cheerleaders (yes, I was one) and a hollow victory for detractors.
A successful mine would have been a good outcome for all stakeholders and that is what this prospective project should (IMO) have resulted in, but it seems has been trashed by bad company decisions.
As Andrew said, this BB now has little future or use. So time to wish all who remain here and all those past with whom I have responded a happy future, Merry Xmas and a Happy New Year. Time to open my last bottle of Tyndrum Gold!
Farewell to all, R.
Yup, I guess now NLR goes in, mines right, and comes out of it all with bucketfulls of cash, the hard work all having been done at the expense of the PI / Gambler.
In my view that is what AIM is, a roll of the dice. In my limited experience and un-knowledgeable position, dabbling in AIM, the 'house' has always won.....
The ultimate lesson to all who invest in an AIM listed company.
Scotgold turned mined left instead of right, game over from that the point onwards, absolute crooked bent scum!!!!
Will be making a pilmgrimage to the mine to take a rock to the value of £10K , a small memento and reminder!!
Yip it over. There will be many glad to see Graham Donaldson around tyndrum, but for reasons other than he might suspect.
I’d suspect this board will probably disappear too shortly. To that end, I want to wish everyone that was sincere, all the very best for the future. A sad end unfortunately.
In case you didn't scroll down…
"Resignation of Nominated Adviser
Shore Capital has informed the Company of its intention to resign as Nominated Adviser and Broker to Scotgold with immediate effect of release of this announcement. Pursuant to AIM Rule 1, if a replacement Nominated Adviser is not appointed within one month of today's date, the admission of the Company's shares to trading on AIM will be cancelled. The Administrators will consider this issue in more detail over the next few weeks but based on the information available at this stage the Company does not expect to appoint a replacement Nominated Adviser."
Administrators are in Australia which makes it harder to keep an eye on them. Commiserations to all shareholders apart from Graham Donaldson, Coliwobbles, Risk Manager, hickfromthesticks and the rest of the bully-boy gang who promised riches and would allow no other view. Their loss pleases me - and my devil's advocate pals Shylock, pr100 and Jon Chapman - immensely.
According to tb the masons were the great saviours to be trusted alongside the board who were extremely honourable. Now, he has vanished! Says it all really.
As for the cease on loan payments, I’m surprised he’s not looking to crystallise the loan and seek securities in lieu of repayment. I can’t help but wonder if he’s done this as he’s been riding rough shot over conflicts of interests for a considerable period.
Role on administration to blow the information wide open… I hope.
I do see it being a pre packet but perhaps the administrators will be duty bound to release info to other creditors such as shareholders.
I wonder how the Mason's feel having handed over £0.5m 7 months ago?
Looks like they're keen to bring the curtain down before they have to publish their final results next month. Pity since shareholders haven't a clue where all the cash went from the fundraisings over the past 18 months. Obviously, none of it was secretly diverted out of the company.
Crooked scheming SCUM
Pre-pack administration imminent. Not sure how NLR managed to do that when the company hasn't technically defaulted on his loan yet:
"Bridge Barn Limited ("Bridge Barn"), a company owned and controlled by Mr Nathaniel le Roux, non-executive Director, and provider of debt funding to the Company, has agreed to postpone all interest payments that are currently due and payable by the Company to Bridge Barn up to and including 1 December 2023. The total of the interest payments being deferred is £450,000." (RNS 5/4/23)
Even the burtons who owns the land are owed money. Geez oh
Daily Mail interviews the locals. "It was fun while it lasted," say Cononish landowners.
"Their luck seems to have run out with astonishing speed," observes the Mail, astutely.
https://www.dailymail.co.uk/news/article-12763513/Theres-not-gold-thar-hills-200m-Scottish-gold-rush-finally-lost-glitter.html
"It’s been too long for any announcements, makes me wonder what’s going on."
We once thought that from the St. Andrews Day gold 'pour' (button) until January with only a Twitter Xmas card to find out that the process plant was not working!!!
Never give up, Plenty ofJobs on the Horizon, Take your pick, Defense sytems, OIL FIELDS, Trawler Fisher, Land Rights, Spy Satellites, Dealers of Sorts, Gambling, Gold is Whiskey n Art.
Having been on the end of redundancy myself, I feel for the staff, especially those who travelled considerable distance to relocate to the remote area. They will be stuck with rent or mortgages with little chance of finding any work nearby. Only winners are the highly paid bosses who knew what problems they had, but didn’t disclose.
It’s been too long for any announcements, makes me wonder what’s going on.
At least we agree then that a prospective project (at whatever scale) trashed!
"NLR needed guys like me, baz, blakeney on the board, to ask them what the fike they're thinking at periodic intervals." Out of the frying pan, into the fire, ha,ha?
A good w/e to all, R.
RH. It's a turn of phrase when someone says, a public enquiry is due. Not an ACTUAL public enquiry. If anyone was going to be conducting anything, it should be the FCA or the Police.
Does noone else find it coincidental at best, that TB disappeared just before it went belly up. Or that there was significant sales prior to this. Inside info? What else can it be?
As for the mines potential. It could be lined with gold and diamonds, but if the muppets can't organise themselves to get it out in a timely, cost effective manner, then what's the point. The failing was always believing it should scale up to be something it was never going to be. A smaller operation with lower cost base to ride out the bumps would have worked. A small steady ship. But they took in too much cash, made too many promises and told too many stories for it to be a slow worker. It had to become this monstrosity that has to cherry pick stopes to stay alive. Because otherwise, how would they repay the cash, how would they make the promises of billions. Numerous mines etc.
The whole thing was a farce. NLR needed guys like me, baz, blakeney on the board, to ask them what the fike they're thinking at periodic intervals.
Who is going to bring/fund an enquiry? No-one I can think of.
Shares are a device to transfer money from those of modest means to those of greater means or their projects. The only investors that make money out of them are those that box clever or get lucky.
Baz is right that no-one left at SG will care as they will be too busy looking after themselves. I disagree that Cononish did not add up as for me the geology was sound and the BFS stated what was needed to sustaimably mine for P1 production. It was never achieved except in short bursts with short cuts. The tortoise and the hare spring to mind!
Regards, R.
Baz, if he has any plans to extend the life of the mine, he may need to keep the locals and national park on side.
It may end up being mothballed for decades. Who knows.