Member Info for Andrew1987

I think the trouble with Scotgold is, they talked a lot before... got lambasted for it before... and the new strategy is talk less, almost silence. I think someware between the two strategies is the best ground. I'd of liked to have seen regular updates.
If things go well, it boosts the price. If things don't go well, it isn't all revealed at once out of the blue to spook the market. The price can only reflect results and without hearing of any, why should the price move?

I'm in at this price but also on SGZ as a hedge.

With funds secured for LHS to begin this year - and the anticipated results from it - does anyone know of the plan for exploration of new vains, in terms of timescales, areas, plans, announcements on this etc? Good yields from connonish this year and announcements of new fields could send the price significantly skyward.

Looking at the previous 52 week low in the 130's I fear this may one still have a way to fall among all the general uncertainty and low economic confidence. Is 135 the time to buy?

Thanks tb

Thanks bismark for your always educated points, you might be right. I would have liked to have heard news come out about a successful raise and a bright future etc etc.

Any updates would be good if anyone has heard any progress.

You could be right Bismark. My understanding is that payments will commence near the end of the year on the debt and it may just be serviced but in terms of our cash position, with 3 million towards running costs already raised, LHS to begin shortly, if we are upto speed by july that still leaves a good 6 months of 2M? per month. I can't help but feel we will be well placed by the end of the year. A bit of time here or there, but it can't be far away now. Even if its 12 calendar months from july, the share price has to reflect the income at some point soon I would imagine. To be even discussing such a position of a working mine, huge resource, low debt etc is a bonus. Will it be time for a divi?

By the end of the year we should be churning out 30 million per annum and theoretically have zero debt or the cash equivalent. The market cap at that point should be 5x what it is now. If the share price follows and you factor in new sources of gold/silver then I don't see why it can't hit £2+. It hit £1.50 before when we were far worse off than now. I'm cautious of offloading too early.

Out of interest, does anyone have an exit price in mind? Personally I would like to keep my shares and pass them onto any kids I have in the future in the hope dividends would return more than I’ve invested over the years of the company becomes a generational Scottish miner.
I would guess that £2/£3 could be achieved relatively quickly over the next year or two if everything goes to plan with new sources and exploiting the current one at full speed. Anyone else ever thought as far ahead?

Why is it the people who come on here saying strong sell always have one or two posts. Could it be they’re looking to buy, via promoting a down turn….

6k in myself, topping up

Disappointed at the low offering on one hand as the share price reflected better value and the discount is significant BUT the raise is 1/13th of the market cap before the bbc article and will facilitate a good year of profit ??it could have been set to 50p. None the less, I’ll be taking advantage and buying what looks like it’ll be the last discounted price before production and profits kick in.

I'm 35 baz, less than half your age. Any tips, send them this way. All the best to you.

Please do. Subject to work commitments I would be keen to go.

I'd be interested in any mine visits going in the future or gold for that matter. Perhaps others are more deserving but keep me in mind please.
It's good to see some positivity surrounding the business for a change.

I mentioned the new vain days ago but give it some show time and the share price booms. Shows the value of the media

I’d take the chairman’s statement as more conformation they arnt going to make big claims prior to successes happening perhaps. Maybe learnt from previous errors that way. I know they are investigating a new seam beside the connonish one which will enhance proven gold if it returns what’s expected so it could be in reference to that or many other things. Perhaps new funding.

Looking at the projected 12.500 oz minimum this year, with gold at north of £1500, a working plant/mine etc… it makes the current price look like an absolute steal.
If you look at the major stakeholders/directors then I don’t see any funding problems. Factor in post Covid anomalies for completing the plant, labour and such forth, most of the problems that have dipped the price seem to be problems of the past imo and I can’t see them reoccurring. It’s normal for an early stage mine to carry debt and none of it is with cutthroat institutions, rather known “friendly” ones.
The only down side I can see was projections were cut for this year but there was logic behind that and if you rewatch the agm you will notice that Phil states they plan to ramp up to what was projected in December 2023, probably this year if I remember correctly. Perhaps erring on the side of caution with projections this time which would be welcomed when performance exceeds expectations.
Market cap of 26 million for a company putting out 18.75 million minimum this year is a bargain. Fill your pockets. Steal today, steak tomorrow imho

Further funding will no doubt be provided by closely related parties as it has been previously. I would hazard a guess that the cash position will be relative to having access to such arrangements and they will no doubt be formalised sooner rather than later.
What concerns me more is the downgraded forecasts as I was anticipating Long hole stoping to be deployed this year - post mine improvements in Q4 of 2022 - resulting in greater extraction, at a lower cost than in previous years. What has caused the downgraded forecasts?
Also, aAny update on a mine visit? Or when gold/silver will be available to the shareholders to buy, who should be given first opportunities? 50% of my investment is with my head but the other 50% is with my heart. Backing Scottish industry and Gold producers. This 50% of me would warmly welcome a bit of metal to hold or a mine to visit as an interim thank you to investors. Replace some goodwill perhaps.