Member Info for Andrew1987

Https://parkswatchscotland.co.uk/2023/10/06/the-collapse-of-the-cononish-goldmine-the-loch-lomond-and-trossachs-national-parks-head-is-in-a-spoil-heap/

Happy birthday and many congratulations of the day.

Poor backer. Wonder if Phil has flown back to tell the wonderful tale

Rockhead, we’ve all seen the geo reports on Beinn Udlaidh and when I said I thought it was a deception, I didn’t mean in terms of what it may hold. I meant, in terms of it ever being viable to commission anything that would resemble extraction. If you remember, every time there was trouble, it would often be put to shareholders that Beinn Udlaidh is there in the background. Dangled as some carrot that it will always come good. Tb often shared the 2d density maps of entire glens. When in reality, the prospects of doing anything there were always slim at best.

An interesting take on it from herald on most recent funding.

https://www.heraldscotland.com/news/23858155.argyll-scottish-gold-mine-owner-scotgold-new-talks/

Diggit, I would agree with that sentiment. One of the saddest aspects is the community was promised massive investment, economic growth and hundreds of jobs. Generational wealth.

Now, it's almost no investment, little economic benefit and the jobs arn't much better paid than others, if they're even suitable. For example, some workers have left to become mechanics. Mining jobs should always be better payers than car mechanics but here they arn't. The conditions arn't great either from what i've heard.

A lot of locals also invested at the start, and no doubt they're will be a lot who lost never mind gained. The people of tyndrum have been let down.

Blakeney, I think the Ben Luaidh story was either a pipe dream or a deception to keep interest in this hole.

Even if a funding partner is found, and even if it's a viable mine, which i'm yet to see.... the terms of the new partner will be onerous. It won't be the 2.5% on your mortgage from 5 years ago rates.

Even if they secure funding. Say 10M. Will it be enough. Or will it just buy a few more years of misery. We've raised as much in previous rounds. I can't see what can be changed fundamentally by taking on millions more in debt obligations than they have already. If it can't support it's current obligations, I don't see how it will support them with payments on debts either.

Realistically, I don't see anyone investing 10M not wanting a significant return for the risk. Will it push shareholder divies to year 24? If the national park even let it live that long.

Many hurdles yet.

According to my understanding, but i might be wrong, if the mine is dormant for 12 months, restoration of the land automatically kicks in, which would make reopening virtually impossible. Can anyone confirm this?

If this is the case, they better get a shift on with administration as the clock is ticking.

Bismarck, it would be interesting to see the reconciliation of figures and match them up with the statements to see what they knew and when. Maybe administrators will do so in due course.

Bp, even if nlr spent millions to pull the company back from the brink, on top of what’s already been spent. Would he ever see it back? He hasn’t so far.

Is it even possible for this type of mine to become economical? If it is, what’s stopped it so far.

They can tell us there’s billions in the ground until the cows come home, but if they can’t extract it economically, it’s useless.

I see it turning into a micro mining operation with about 10-20 staff who slowly chisel away at low cost and hopefully turn profitable. Then hopefully sell the dream again to the national park to extend the life of the mine.

Time will tell

Disgusting. The employees should get a representative and go to the papers. By the time this is carved up, any redundancy money will be long gone.

Baz I don’t think connonish ever actually met their targeted cost of extraction. I think that low cost miner rubbish was as credible as the billion pound multiple mine stories. A “wonderful tale” some might say.

Here’s an interesting read on the state of the national park and what has to be done whilst work has ceased. Looks like sgz might have to pay staff while they are off, as they should.

https://parkswatchscotland.co.uk/2023/10/06/the-collapse-of-the-cononish-goldmine-the-loch-lomond-and-trossachs-national-parks-head-is-in-a-spoil-heap/

hope and faith in what exactly? what part was giving you hope? tyndrum boy? the bod? the debt? the constant raises? or perhaps the bbc?

if you call telling the truth demolishing your hope and faith, then you'll be waiting a long time for me to lie to keep you comfortable rockhead.

this "geologically good prospect" means exactly zilch if you can't extract the "geologically good" part in an economical way. there's millions of tons of gold in space, does that make it geologically good too? or would talking about the prospects of that be uncomfortable too.

you propped up the talk on here of how good things were, while it was a complete **** show. and for that, you my friend, are complicit in the losses some have experienced. i wouldn't class you as the next tb, but please cut the crap about anything to do with this being in any way good. it is disingenuous at best.

as for south african veins, i don't think they were as contorted as this connonish vein and they definitely didn't operate in the same climate with labour, fuel, tax costs etc.

Nothing scarier than this horror show.

Happy to pay out on those odds rockhead. As soon as I get my money back from sgz, you’ll be the first I send the profit too lol.

I was right though. Unfortunately. All the crap I took for months and I was right. Just a shame you and your cohorts never joined me as we could have saved a lot more people from investing.

The name Donaldson will stink out the glens for generations to come.

What other normal shareholder do you know who had the BOD on speed dial, or who could organise a mine tour, or who knew more than any other shareholder, or who disappeared miraculously after 14 years just before it went wrong, or who invited people looking to be recruited to contact him first, or who had gold on his mantelpiece from the mine etc etc etc.

And most importantly, who, off the back of this knowledge, pumped the stock to others then tried to delete the threads on here to hide the evidence.

The answer is, what’s going to be done about it. Stinks.

Odds of tb coming back 100/1

Odds of rockhead admitting I was right about it heading for administration 150/1

Odds of Scot gold extracting any gold in the guise of sgz 180/1

Odds of tb turning tricks at the tyndrum inn to raise fresh investment 5/1

Odds of Samson taking up the offer by tb in the tyndrum inn 3/1

Last but not least, who forgot to spin around when shouting in the mirror, TB reveal yourself!! three times? It will soon be halloweeen of course, and this horror show is just about to kick off

So if it’s definitely administration. Who’s buying it up? In what format and at what price. Will shareholders be offered 2p per share?

Why would a majority shareholder let it face administration and risk loosing his investment if he didn’t have plans, one way or another.

Even then, will a new or current owner be able to run the mine at profit? Or run it at all?

Bond payments with the national park, time running out on permits to mine, is there even an economical way to extract gold from narrow veins in this country.

Anyone staying for the ride after 14 years of misery. Not me. Time to put my energy into more productive things I think. Good luck all

It will be interesting to see what happens to their significant shareholding. Converted to new shares? Off the table deals? Who knows. Interesting to see what the masons make of this? Was it their intention to become a secured creditor to take it out of administration? More fish than peterhead.

Where’s that guy that said it’s coming tomorrow? Mysteriously vanished. Where’s genior? His ardent defender? Jokers.

Here’s a thought for those who have lost money, stick a legal claim in, put a lean over any assets until it’s heard. There’s a lot of machinery/diggers up there. Bear in mind they’re negotiating with unsecured creditors at the moment. Form an orderly queue.

I’m assuming the workers will be due redundancy money too? Or is that another thing they won’t be doing.

What about national park bond payments to restore the land?

An absolute shambles.

Https://news.stv.tv/west-central/scotgold-resources-staff-at-scotlands-only-goldmine-placed-on-unpaid-leave-amid-financial-crisis-talks

Bp, that 3 oercenter thing. What price did they buy in at? Like 60/70p?

Probably why they didn’t sell at 13p. Much like yourself I think they will be hoping for better days tomorrow. Time will tell.

What I will say is, I remember the days we talked about how rich the mine would become. Now, it’s a scramble to just get money back. I also think that even if it continued in some fashion, the share price will be hit by constant and considerable exits right up until the 70p mark as those already burnt would just want out I feel.

If it passed your average price in 6 months, would you not sell while you could.

As for tb, his words are worth less than the cost of the air it takes to voice them. As credible as Fred Goodwin selling you shares in sgz 2. Will forever be known as a trumpet

I'm afraid to say... prepare for your losses ladies and gents. Without accountability, this mob will run away with it. It's over. If anyone ever fancies a get together in tyndrum to lament the losses, and buy an effigy of TB, count me in. Guy falks night. I'll provide the fireworks. More blasts than the mine.