Firering Strategic Minerals: From explorer to producer. Watch the video here.
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Hi yayay.
Now that is faith! TB had buckets of it. Nowt wrong with faith as long as the harmonium plays!
Regards, R.
Rockhead,
The 10-30m drill spacing increases certainty of an average grade in a given area. You could drill 2 holes right beside each other and one could be 0.5g/t the other could be 50g/t hence the term 'nuggety' for these narrow Dalraidian gold veins.
The above also shows the need to get drill spacing down during initial exploration to increase certainty of overall mining grade for future mining. Saving money on this phase of resource definition is usually a death sentence for a narrow vein underground mine with borderline economics.
Also, the parallel exploration target veins, which show up very nicely on the Ionic Leach survey, could be hard to get permits to drill them never mined getting permits for new addicts to mine them! They're definitely too far away to drive to them underground that's for sure!
Regards
So who bailed in ?
Don't look at such narrow timeframes, Blakeney. This time next century we are all going to be millionaires! Patience is the key!
Looks like someone baled out yesterday morning selling 671,168 shares at 12p.
That's a massive hit someone took but it explains the severity of yesterday's drop.
Might it even have been TB giving up the ghost and his vacuum cleaner regurgitating?
8 months, Duncandisorderly? This has been on a continuous losing streak for well over 8 years.
Nothing goes in a straight line, cash flow is everything
Draw a line below which the company should not fall, to get a fair value, then in times of plenty invest in plant and people.for the long term
I believe the infrastructure is in place and will bear fruit
As a gambler my longest losing streak was 8 moths, then I had my biggest ever win, as a gambler the only thing you are 8n control of is your losses
Maybenot,
I won't argue over what one might regard as 'nuggety' but It is (IMO) a potentially misleading term. Suffice that the Cononish vein is a quartz breccia (fragments) that contains fine gold and other minerals, mostly between the quartz and some within it.
Your comment re drill spacing is well made and ideal, however having the finance available to turn the mountain into a pin-cushion is another thing. Interestingly, while much of the vein was covered by drill intersections and hence ore-blocks of 50 to 100m size, a part was drilled at 10 to 30m blocks that showed as much variation as over the rest of the vein of larger blocks, suggesting that being obvious, it was known. (Scotgold Final Cononish Development Study 30-04-13). Hence, weighted averaging of all the blocks came up with a good mine grade (11 to 12 gAu/t) overall. The only option then is to mine out the lot, accept the likely variability above cut-off grade and hope that you end up with the same average grade. This still makes the vein very attractive to mine, but how you mine it is another matter and SG have failed to get it right and deliver the tonnage.
The controversy over the 'revelation' of a nearby 'second vein' is amusing, since there are several! They were first detected in soil surveys done by previous owners. A couple of splays off the main vein adit were excavated for a few metres and a few others drilled, but none showed great potential. Decades later, a couple of years ago, SG's ion-leach soil testing around Cononish confirmed these and others nearby, but none have been tested AFAIK.
Memories are short for some. I'm just showing my age! LoL!
Regards R.
The only hope left, is to look strait in the mirror, do three spins, then chant TB TB TB three times, he will appear, and tell us all everything will be ok tomorrow.
For sure Slacker246 - people have got into an awful lot of trouble for a lot less than what Scotgold, allegedly, has done to the finances of its longterm shareholders.
Scotgold is advertising for a new Diesel Plant Fitter / Heavy Duty Equipment Mechanic.
The role is described as, "a great opportunity" but one wonders how long the job is realistically expected to last. Or does it mean there's still hope? LOL
Rob Roy would not take this laying down, he would be up there taking scalps and running them through!
Absolute crooks man WTF
Tb is busy hoovering.
Was always going to end up a mess. Sad for the people who have lost so much.
For those that helped coerce them into it… I wouldn’t want to be that man
Sensitivity should be shown to those who bought in at far higher prices.
Not really a 'show' to them.
The disappearance of TB, the P and D a couple of weeks ago, and the most recent RNS, cannot be a coincidence, imo.
I said at the time, if there is a negative rns in the next 4 weeks, this is a classic p and d.
Market manipulation based on insider info.
Of course, I could be wrong still and those dozens of small buys were just 'small' investors topping up.
I understand the FCA has received a number of mm reports recently re the above Whether they choose to investigate is another matter.
I used to joke I was investing at 8p. I just want to state for the record, that wasn’t legally binding!
4p maybe, just for a ticket to the show
If the people hoodwinked into buying a fortnight ago are raging how do those who bought at 40p and way above feel?
TB's hoover will be working overtime at these prices.
It does look the death spiral now.
One massive cluster**** - is one view - since the day it was listed at the equivalent of £7.00.
"SPToday 11:29
Selling price is now 13p.The people hoodwinked into buying a fortnight ago must be ragin'."
And the people who pumped the price should be looking over their shoulders.
Selling price is now 13p.The people hoodwinked into buying a fortnight ago must be ragin'.
Maybe, Slacker, we small PIs could come out of this with a ha'penny in the pound if the Scottish Government would nationalise SGZ, LOL. After all, they have proved spectacularly inept at running everything else, so why not add a gold mine to their portfolio?
TB REVEAL yourself. …. Couldn’t help myself.
consultancy review might not be needed with the share price rapidly turning to ****e 🥳🥳🥳
You are right about poor mine management.
But all Dalraidian gold veins are 'nuggety'. Nuggety gold does not mean their are gold nuggets present it means that the distribution of visible and microscopic gold is uneven through the vein. This has a direct impact on the amount of drilling required to be sure of the resource. Ideally drill spacing in narrow nuggety vein deposits is 25m or less.
It's definitely a bit too late for that now, all I'm saying is it has contributed greatly too the situation they now find themselves in, which is a large hole with no nuggets, expect the management team.
This from the RNS on 15th May:
Further Scottish gold doré sales were made to Scottish jewellery companies, totalling £183,478, from 1 January 2023 to 4 May 2023.
This from the RNS on 10th July:
Scottish gold doré sales made to Scottish jewellery companies during H1 2023 totalled £183,478.
Therefore it looks like a gold mining company based in Scotland sold precisely no Scottish gold between 4th May and 30th June.
None! Was that in line with projections? LOL.
Regarding this from the RNS on 21st April:
The Company has entered into a subscription agreement with Maurice and Nicole Mason, existing shareholders, pursuant to which they have subscribed directly with the Company for an aggregate of 3,333,333 Ordinary Shares in the Company (the "Subscription Shares") at the Issue Price (the "Subscription") to raise gross proceeds of £0.5 million. The Subscription is conditional upon Admission of the Subscription Shares.
Maurice and Nicole Mason have also undertaken to the Company to subscribe for an aggregate of 3,333,333 Open Offer Shares, equivalent to c. £0.5 million, in the Open Offer under the Basic and the Excess Application Facility.
- I can only see three possibilities:
1. They are dismayed as everyone else and were given incorrect information. Was the information on which they based their decision to invest given to them by people who knew the data to be incorrect and therefore was criminality involved? Will that one day be for a jury to decide??
2. There is a Plan B that the big boys are working on but it doesn't involve us.
3. It will eventually come good. LOL. Given the tone of all recent announcements I can't see this being likely. But I'm not entirely convinced by 1 or 2 either.
Thoughts gentlemen? Evidence?
It seems that someone or LSE didn't appreciate my suggestion that those who involved in bringing Scotgold to where it sits today have their actions here follow them for the rest of their would-be careers. Lol.
Not even enough money to square away bond payments on this mine to make good any damage with the environment agency.
The master plan was to make loadsa money, it didn't happen. Nat king Cole must be sorry he ever came across this place.However all is not lost if the gold is actually there.It's not outer Mongolia and with the capital put in it should pay off.But not for us mere mortals. Will there be another mine?. I really don't see it.
It’s peculiar how much faith is put in these directors. I doubt it’s some master plan they have and I also think this board gives them too much credit. Almost as if it’s impossible they would do something stupid or end up in this position. But they have. Those very directors have led us to this. So if they are really smart and won’t loose a lot of money… why are we here.
But what data would those with a lot of skin in the game be basing their decisions on?
Apart from apart from our costs and our constantly abysmal cash position who can trust any of the figures Scotgold announces?
£200 million. £300 million $1 billion. LOL! And "obscene" grades. Phase 2. Exploration work. France and Spain. (Remember them?) Plus what they were not comfortable sharing at the AGM. Plus all the other nonsense data presented in Edinburgh and elsewhere.
Thus far we've got a minuscule uptick for the last three months. Whoopee.
Or at least: we're TOLD there's been an uptick.....