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Ah, would that we all had the wisdom of Solomon RH!
yayay, 'never invest what you can't afford to lose' is particularly relevant for speculative investments in junior AIM explorers/developers. It's not a maxim I've adhered to and for that reason I have not always been in control of the timing of my sells, more's the pity. Of course I *was* in control in October last year, and like you failed to sell. So can't have any excuses!
A time to sing, a time to dance,
Buy in, sell out, a time to prance.
Company fumble, SP tumble,
So many a time for some to grumble.
Yet for most time gone, we have trundled on,
Twixt 25 and 75 or equivalent song.
Expectation and speculation the only exceptions,
But markets, loans and equity change perceptions.
We endure, so all is still to play for,
New houses, new plans and all is to pray for.
Cheer and be merry, for friends hear and gone,
For we have the time, before final gong.
GLA, R.
Hello again, Eck, interested in you line "I need the cash". The 'wise heads' always say "Never invest what you can't afford to lose". But is it fair to apply that maxim to a share like this one? I think not. Who can say in 2010 what their situation is likely to be in 2021, and what they might need the money for then? This is very pertinent to myself. I am currently house-hunting. If SGZ had performed even reasonably well over the past decade, I could now be looking at property in a much higher price band than that which I can afford for what, at my age, will very likely be my last home.
Cheers Eck.
No penny has dropped Baz. I need the cash. I’ve got out with (most of) my shirt having averaged down in the expectation this thing would get into production. You didn’t. It has.
The wild claims of multi-baggers and decimal points shifting were wrong as they almost always are. So were the predictions of doom and disaster. Again, that was my point. So long, and better luck next time.
Ok,the planning was delayed until 2011 but **** and bull stories we were fed was always next year Rodders.Like the rest of the disappearing stalwarts Eck,the long journeyed penny has dropped.Scotgold couldy run a bath never mind a gold mine.Remember this,each week there is less gold in the mine than there was the week before.The sands of time are running out.A merger might be the answer ,but who would benefit?.
Not with planning and development finance in place you didn't, which was my point.
'' If you really want to buy and hold a junior miner, do it a year or so pre-production .''Eck,I already did that in 2010.
Thank you, young man. Keep your ear to the heather and your glass full.
Regards, R.
Wow, I gathered you guys had been at it a while but that really brings it to light. Well done for sticking it out so long. I am only 2 years into my emprentiship so have a good 8 left to serve.
Good Luck everyone. stay safe, well, and lucky
Last but one line should be 'phase 1'
A conference of 'quitters' is convened! Yet we hover in hope in the wings of this BB.
Eck, I must correct you on your 'exception for wise retired geologists.' Anyone seriously examining my posting record might reasonably conclude that I am that 'senile delinquent' I warned of on this board on my 70th birthday!
I first bought/received shares in utilities and corporation privatization at the time when Lord Stockton warned parliament that 'When you have sold all the family silver, only the pewter is left' and later when building societies were scrambling to convert to banks. I learned then that the only certainty is death and that life (and shares!) are to be lived and enjoyed for the day/month/year. Hence in the last 11 years I have not put all my (pigeon!) eggs in one basket and traded on my DYOR. This has given me small/modest profits, thankfully only a few small losses and it has been a bit of fun, but mostly a pleasure of sharing the company of those of common interest on this and a few other boards. A thank you to all for that.
Yayay, how nice to hear that you are back from 'Mars' and keeping an eye on us. Your inspirational 'tales of the canal bank' have enthralled us and are greatly missed.
Market sentiment changes over time and the wind is not in our favour. The loss of SG monthly updates hint at uncertainty and the posting of transparent achievement, setbacks and action is replaced by forecasts and bated breath that do not impress, despite having progressed further than ever before. The prospect of a wet and covid winter, guided by directional dyslexia as mimicked by Ant and Dec, gives little cheer for Christmas. Yet if PD can keep Cononish grinding on to achieve and maintain phase 2 production into Spring, then in the new year may be a good time to return. One step back, two forward?
Regards to all here, R.
yayay, it's no exaggeration to say that the antics of Miss Wemyss, Sir Jasper, Mr and Mrs Keeper, Champion et al have been one of the great pleasures of being involved here, capable of raising a chuckle amid the grimmest of corporate 'jam tomorrow' updates. Here's hoping that harmonium and halter are imminent - they and you deserve it!
BP, good for you! I'll be here in 2028 with the SP at 87p to discuss the latest fundraising to get Inverchorachan into production, planning permission having being granted in 2025. I might even be back in at that point - keep the faith, come on Scotgold!
Quitters!!!!
Lol
11 years for me in January managing to get in at £7.00 in today's money - a real Scottish lament.
Well into the second decade and what was it the Carpenters sang? We've only just begun.....
Come on, Scotgold!
Dear Eck, you and I have run just about in parallel for so many years. So many of our posts have been endorsed by each other, and none more so than yours today. I wear your experience like a glove. I too missed the October 2020 spike, believing from everything that we had been told by the CEO that there were even better things to come. And, like you, I have sadly concluded that with these shares there is little to be gained from the loyalty of just holding and holding and holding. It has been a bitter lesson, learning that everywhere on AIM - even here in a company we all actually held quite dear to our hearts - fortune favours the ruthless traders and not the patient 'old lags'. I am out of SGZ now, though I look in here from time to time and, like you, I may well return - and maybe not too far into the future. I continue to hope that one day Miss Wemyss may get her new rosewood harmonium and Champion a gold-encrusted halter. I do hope that you and I will exchange experience and pleasantries on this board once again (because it has been the pleasantness of the board which has always compensated for the frustrations of this company). All the best, y
I bought in at £5.20. Today sees the last of my SGZ shares sold, below my average of 82p. I've been reducing my (not particularly large) holding as opportunities have arisen since the October 2019/Jan 2020 peaks. Over the piece I've more or less got out around my average. So a nominal breakeven but not inconsequential real terms loss over the 10 years, though an improvement on the 95% wipeout I was looking at in 2013. Like a fool I missed the October 2020 spike, holding on for maximum value on 'gold pour' day but then being banjaxed by the placing and, idiotically, holding on again thinking the news would turn around in the months after that. Hey ho.
So, what have I learned over 10 years?
1) Don't believe anything anyone says on these boards, good or bad. I will make an exception for wise retired geologists.
2) Cononish is a great prospect and I think it has a bright long term future. Holding on to that during the difficult times helped.
3) You really have to be prepared to trade these AIM shares. Just holding and holding isn't a great strategy.
4) 95% of the time with a share like this, just sell the news. The other 5% of the time have a quick think, and then sell the news.
5) If you really want to buy and hold a junior miner, do it a year or so pre-production with financing and permissions in place, in the slow news\development delays slide following the financing/permissions excitement.
That's about it really. For what it's worth I think now is not a bad time to be getting in, but I've had enough and there are school fees to pay and a house to be renovated. I'm pretty confident 2022 will bring good operational news but less sure how that will play out with the SP. There remains a question mark about how much financial damage was done in the first half of 2021 and that question still needs to be answered. It's not at all clear to me that Cononish will be throwing off enough cash in 2022 to pay down the debt and finance significant new exploration. I can't see future development - and there are seriously exciting prospects awaiting attention - being financed internally in the short to medium term. I think it will take a JV or strategic investment to get that going (not necessarily a bad thing).
To me, 2022 looks like being mostly a productive slog with more excitement in 2023-4. I'm slightly worried about where the gold price goes from here - is this autumn 2008 or spring 2013? I'm still more inclined to think this is a bull market for gold, but there may be some volatility ahead.
It's been an education and if I can find a bit of liquidity to play with over the next year or so I may well be back in both here and in other junior miners to see if I can put into practice what I've learned, so I might 'see' some of you elsewhere in due course.
For now, thanks for the company (particularly for the canal folk tales), take care, be kind and I will continue to follow Scotgold's fortunes from the sidelines.
Eck7