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Where is TB now telling us all how great it is. Thanks for the info shychap. A very sorry and sad end.
Scotgold Resources has now been wound up.
https://publishednotices.asic.gov.au/browsesearch-notices/notice-details/Scotgold-Resources-Ltd-127042773/e47be22b-b0ef-4c3a-b694-ec2d5faab06e?appointment=All¬icestate=All&companynameoracn=127+042+773&court=&district=&dnotice=
So next week's creditors meeting will consider "to consider the early destruction of books and records". Hard to think of a good innocent reason for that motion.
https://publishednotices.asic.gov.au/browsesearch-notices/notice-details/Scotgold-Resources-Ltd-127042773/8469a308-28fa-4de6-b9bd-1b14d71f926f?appointment=All¬icestate=All&companynameoracn=127+042+773&court=&district=&dnotice=
Yes Sean Duffy resigned the same way Phil Day did.With a big push.
No longer a Director but still feeding Scotgold cash so they don't go into Administration.
NLR no longer director of SGZ Cononish.
New director A. Habib. Sean Duffy has resigned.
Looks like it's gone, my shares have now disappeared.. Very sad for the local community and staff. Commiserations to all
Not sure if this site is still operating. If it is, can anyone shed light on where we are in 24? Are there any pending activities?
So long as you couldn't see his nuggets.
Crunch meeting on 22/12//23
https://publishednotices.asic.gov.au/browsesearch-notices/notice-details/Scotgold-Resources-Ltd-127042773/bc586440-1960-430d-a481-45a1e597cd47?appointment=All¬icestate=All&companynameoracn=127+042+773&court=&district=&dnotice=
First creditors meeting this week…
https://publishednotices.asic.gov.au/browsesearch-notices/notice-details/Scotgold-Resources-Ltd-127042773/0c0820a9-3fe8-4350-ad6e-0db153ec9c01
A friend did some research on the possible new owner. I can take no credit for it
Company
CONONISH MINING LIMITED
https://find-and-update.company-information.service.gov.uk/company/15310690
People
KANSAGRA, Bhupendra Shantilal
https://find-and-update.company-information.service.gov.uk/company/15310690/officers
List of companies
https://find-and-update.company-information.service.gov.uk/officers/aUodWEruwol5FQBStVc6Mlajubg/appointments
Daily Mail
A British millionaire has been charged with manslaughter after 48 impoverished villagers died when a dam burst on his farm estate in Kenya.
Perry Mansukhlal Kansagra, 44, is a member of one of the UK’s richest families, who are worth an estimated £320 million. He denies the manslaughter charges but faces life imprisonment if found guilty.
Kenyan politicians have said the dam was built without either the required legal permission or heed to safety laws, a claim that Kansagra denies.
The Kansagras were listed as the 388th richest family in Britain in the Sunday Times Rich List.
https://www.dailymail.co.uk/news/article-6027053/British-millionaire-charged-manslaughter-48-die-dam-collapses-Kenyan-estate.html
Looks like he'll fit in quite well then......................
Yes but I think that was set some time back. In these inflationary days will it be sufficient? Don't gey much of half a million these days!
I read there is a £0.5 million bond in place for restoration etc in event of SGZ failing?
That would.need to be researched. What you need to avoid is the mining equivalent of the £1 takeover of BHS from Philip Green by some chancer.who hadn't even run a corner shop before. If a serious team, with both business and geological credentials were to put forward a plan with all company debt written off then it might be worth a punt. It would have support of the locals and the National.Park as they are the ones who look like they may foot the bill for the clear up and other fallout. I say that from a position of not having been involved here, though God knows I have suffered in other situations over the years!
If new owners took over under a new company, who here would invest in a new company knowing what they know now?
Also, is that how NLR will mask his take? By taking shares behind new owners?
Interesting, great spot. They've got much deeper pockets than NLR - maybe this story has a bit further to run, at least for the local economy if not for shareholders.
Cononish Mining The Kansagras, who have mineral processing interests. Just posted on Companies House, share capital £1.
Considering the mineral composition up there is rich in silver type minerals, i'd be shocked to see how much silver was actually given to the refiner as I would suggest it is probably far in excess of what they would normally charge for refinement due to the amount of silver sent and the fact they wouldn't be willing to do such a deal otherwise. Or perhaps there was another off the table arrangement. The whole thing stinks. To not have proper accounting for this or not disclose it to shareholders tells it's own story.
They never clearly stated where the silver went or how much they got for it but they implied that it was bartered to the concentrate buyer to cover his costs.
And now comes the final slap in the face as the price of gold and silver heads strongly north.
So sad for wee village of Tyndrum. Where did the Ag go? Fynegold estimated 596,000 oz Ag and 163,000 oz Au.
Rockhead - all the best and take care of those peepers.
Eck
Https://www.heraldscotland.com/news/23946561.argyll-gold-mine-owner-scotgold-falls-administration/
Such a shame.