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. discombobulating.? your confusing me.
TB/Henry hoover must be busy snapping them up as he’s MIA. Which I feel, tells its own story. I hope he’s in ok health but he should be on here answering the questions of all the punters he encouraged to invest.
It’s been well put by others previously, but the chairman’s whole attitude stinks. The famous phase over that’s all they’re comfortable with, turned out to be an absolute stinker. I also never liked how he turned up to the meetings in a t shirt and hoodie. Did the companies look no favours. Very nonchalant.
Even in a company as badly run as Scotgold seems to be surely new hires are approved by management who know the state of the company and what plans they're working on to reach full production (lol). Or maybe not. Who knows?
Another bad sign is the lack of director buys. The last one "in open play" was in January 2022 and the one before that was in December 2020.
You'd have thought that they'd be hoovering them up if they thought today's price reflected a bargain. (Like TB. LOL)
Yet there were definitely some positives and forward looking sentiments expressed in the most recent RNS.
It's all so........... discombobulating.
I think the people doing the hiring are not the same people who will lead/fold/restructure the company, so I wouldn’t read too much into anything continuing as business as normal. It will come from the top down if it happens.
You’re right in a lot of what you say bp.
I don’t think the company needs the burden of more loans or more dilutions when we can’t make profit at the moment, even when we have payment breaks on existing lending.
I can't see us continuing as we are given the astonishing rate at which we go through cash and how little of it always seems to be left.
All the recent announcements have been grim: nothing about a route forward, realistic restructuring options, securing funding - enough this time - to provide a future, cutting costs. Nope, nothing positive at all.
On the other hand would they waste time, effort and money on recruiting new staff and promoting others if the jannie is about to come round and padlock the gates?
And what happened to this from 27th March? The Directors of the Company have also discussed, if the need arises, providing a short-term convertible loan as a measure to ensure the Company continues with the long hole stoping deliverables as updated in this release."
Have we still got that card up our sleeve to play?
Maybe all is not lost.
Yet.
A lot of buys recently. People believing it can’t go any lower I think. How many times have we thought that. Brace yourself. Review under way! And it’s not because they’re doing amazing.
Talking about the Titanic BP, are you sure the whole world is not headed the same way/
See 'Earth' on BBC2 at 21.00 tonight or on i-player. The pre-history of the planet with emphasis on the 90% of life extinction 250Ma ago. Something I and some friends spent some years researching and where we are likely heading with human driven climate change.
Be cheerful! R.
Congratulations to the gentleman promoted to the position of Mining Engineer.
A sign that the company can secure a viable future for itself or is it someone being promoted to Senior Deckchair Attendant on RMS Titanic?
'I sometimes wonder what NLR makes of the whole affair. I'd have heads on a spike. As a warning to the next CEO.'
Y'er a bit brutal!
We might already have him.....soon to be confirmed.......the bean counter! That might keep a lid on the costs that worry you and save a BoD salary!
I think we have differing outlooks on our world, but each to his own.
A sad story of late, but over a decade or so an interesting one and one that I'm sure we agree, would be good to continue for many people for whom SG has become a part of their lives. It's continuation is the only hope for some here to regain their investment or average down/buy in low if anyone fancies the risk.
GLA, R.
Rockhead,
On balance I think if most people wanted to help jobs or the environment they would rather volunteer or buy a solar panel, as opposed to invest in sgz to loose large sums lol.
As for the "wealth generation" I don't think that's as yet happened with this company.
I also think pro environment, wealth creation, jobs can all be gleamed from other countries without loosing cash. I'm all for home jobs etc, but that wasn't my point anyway. It was merely, it's difficult with the economic hurdles to operate in certain industries in a small scale in this country, as you agree. We're great at other things. But it's knowing what we're good at, and what were not that makes a good investment i suppose. Will this be a fundamental flat with sgz? So far it looks like costs have run away with the dream.
I congratulate you on your trades (I remember samson lambasting traders funny enough) and the ring for mrs rockhead. I'm sure she was chuffed. If it all ends in tatters with many loosing money though, I don't think the ring will console the investors. Overall a sad story so far.
I sometimes wonder what NLR makes of the whole affair. I'd have heads on a spike. As a warning to the next CEO. Perform or else...
Everything said (aye right) by everyone on every BB even when the shat thet talk is 100% wrong. Listen folks there are so many diddies on these diddy boards that it just crazy to follow or respond. Do your own thing. Who gives a toss if you're first in line to claim you've lost the crown jewels. It's AIM, it's a pure unadulterated gamble. Such is life. We breathe until we die. Move on if not looking to an upside. Hey ho, happy go lucky me. :O).
With the company having warned of material uncertainty, and with the price having already collapsed around 98%, the idea that any negativity from the regular posters is so that they can buy in at a cheaper price is plain daft.
Rockhead
and dont forget to tell your grand kids,you was alone
on a board....full of traders,swamping the boards,relentlessly
to buy in,at a cheaper price.....before a technical,bounce off the oversold
Andrew, prospective from a geological point of view (IMO). It is what it is, narrow, decent grade overall, but it is what you do with it that makes a successful mine or (as at present) not.
Your oft-repeated 'flaw' of high UK costs is valid, but if you consider that investment in many overseas projects has over decades enabled cheaper imports, perhaps greater rewards for investors (little for ordinary people in the UK), but often exported serious environmental consequences to largely developing countries. I would balance that against UK development, jobs, wealth generation and environmental protection. The choice is yours.
Personally, I would prefer the latter, even though it may need greater effort and innovation to balance higher costs. The question for all here is can Scotgold pull it off. I hope so......eventually!
I am an old man who tells his grandkids and great-grandkids how I traded SGZ, made some money and spent some of it on a Scottish Gold ring for Mrs. RH. Hopefully, one day you and all here will be able to tell a similar positive tale, but that will be a work in progress........fingers crossed!
GLA, R.
Some of the consulting reports actually made sense but they were ignored.
The one that always stuck with me was the one I referenced to rock head below. The barra consulting report that clearly states that lhs with this type of mine would result in a large dilution of grades and that it would have to be meticulously watched and reviewed as mining progressed to avoid too great a dilution. As we all know, dilution of the grades increases costs and pulls out less gold per tonne making it more expensive to mine. Which for a start up isn’t ideal.
This lot had bags of untested material stacked because it snowed as far as I gather.
To not openly sell it at a retail mark up and sell the product to wholesalers was also another mistake. Such a miniscule percentage went to jewellery. Some should of been tourist market, home market and other but cash flow never seemed to allow even a small amount to coke to market. This would have boosted interest when we needed it.
A lot of mistakes. Much to be lamented. I hope I’m not an old man telling my grand kids about the money I lost on Scotlands only gold mine because of some bad management. I’d of rather whipped out a few gold bricks and told them a glorious tale of Scottish success. Alas it wasn’t to be.
That's self evident Andrew1987.
The uncomfortable possibility remains that all the specialist advice of which there has been much was total bo****ks.
That would at least partly explain why management's plans never seem to work out. Rubbish in rubbish out.
Bp I always say, an accountant is an accountant, a lawyer is a lawyer, but there’s a reason they’re not an entrepreneur. Each person has their own specialities but the job of pulling it all together and guiding the ship is that of the board, who are supposed to have overriding control, taking account of all specialist advice. Or which there has been much.
Wtf what where they paying geologists for with neatly presented rock samples ,proper bull****!!! are they having a laugh!!@???
Maybe the geologists were equity hires. That's what tends to happen when competence is replaced as the overriding criterion.
Faith was mentioned in the posts a few times yesterday - who can have any faith in any of the figures anyone has produced for the company? Who can have faith in any of the content of the RNSs?
Not me anymore, that's for sure.
Rockhead,
when you say:
"With the data SG have, I have posted for years that IMO this is a very prospective and I am still of the same opinion. SG just need to get it mined in a proper fashion and produce the tonnage"
Does your analysis include the cost of operating in this country as opposed to operating in other countries. Taking account of wages, fuel, taxation, transport, safety costs etc? That are all higher here than in russia or africa etc.
Personally I think the mine has fundamental economic flaws that the wholesale cost of extraction will never equate to being lower than the profit from the material mined due to the narrowness of the vain, LHS method of mining such a narrow vain ( as per the old bara report) and the general cost to operate here.
I'm not disputing your claim, just interested if it takes this into account of if it's based on models experienced elseware.
blue makes me sick !:as it portrays the share in a positive light!! i spent 10k on this ****e @ 63p share ,a day later it was diluted with a share issue and then they dug a load of hardcore out of the mountain with no gold sprinkled in it.
wtf what where they paying geologists for with neatly presented rock samples ,proper bull****!!! are they having a laugh!!@???
Fond regards to the shy lock keeper's daughter. May the canal waters bring forth streams of the yellow metal.
HAGWE, R,
'for new addicts to mine them!'
Is this an opportunity for TB, yayay and me? LoL!
Hi Rockhead
We pray that the harmonium can keep on huffing and puffing for 45 years, and that after the Reverend Grimm retires the Methodists don't put in an Assets Appraisal Executive and a Customer Experience Team Leader and decide to close the Chapel down.
Regards, y
Maybenot, You are right in an ideal world exploration, but how often do you know of this happening? At one mine I once worked for, they sank 13 x ~1km boreholes over ~100sq km and encountered 13 different seam conditions. When mining started, all 13 conditions were encountered within 1km of the shafts.
That is faith for yayay! The mine is still operating over 45years later, so perhaps there is hope for Cononish yet!
With the data SG have, I have posted for years that IMO this is a very prospective and I am still of the same opinion. SG just need to get it mined in a proper fashion and produce the tonnage.
A good weekend to all here. TTFN, R.
Hi yayay.
Now that is faith! TB had buckets of it. Nowt wrong with faith as long as the harmonium plays!
Regards, R.