Member Info for Andrew1987

I think the disparity between production and promotion would be key. Reporting deadlines too. Much information was withheld until it caused collapse when it leaked. I've not interest in listing irregularities as i'm not a shareholder but if I had considerable skin in the game, as many here must have, then I would champion a collective effort. BP to lead the charge?

It's not with a view to proving misdemeanours, more informing the board, if this thing collapses, they're would be consequences beyond what they think. The shareholders would look to act. Proving director negligence and covering up of business critical information wouldn't exactly be hard. Leak after leak. Financial mismanagement. Misrepresentation of position. Withholding critical information etc etc. Easily done.

The point would be to ensure those in control, don't think abandonment is an easy option.

Also, even though you may be correct that the PLC may not exist by the time of proceedings, the veil of corporate indemnity doesn't work if there is any form of criminality involved and therefore personal liability from directors would be possible, should this be the case. Speaking hypothetically of course.

If I were a shareholder, i'd be getting together to organise a meeting. Online or other. To send a letter directly to the board asking certain questions.

It wouldn't surprise me if the BOD or other were watching developments to see if shareholders will be militant or moping. The observations may well guide their confidence in cutting and running. I'd be putting the pressure on so they know it won't be accepted.

Does anyone else notice, all the bad news is drip fed, all the cover ups and scattered over time etc. Gently gently.

If you want to protect your investments, get active and hold them accountable. Or pay the price.

Rockhead, Buying an expensive tailings thickener they would never use when money is tight and they're asking for raise after raise from shareholders, is at best, bad planning. At worst, criminal.

I don't wish to give anyone false hope. I said it months ago, shares will be suspended, few listened, here we are.

If you are proposing things were ok and good decisions were made, I would beg to differ. My views on motives may be different from yours but I console myself that I never gave people false hope over the last few months as some others have.

ATB

Maybe the regulators should start looking into the gold TB received from the mine. Or his bank statements.

He obviously had inside knowledge and acted on it, as he has vanished and sold just before the collapse imho.

Wonder where the drill rig/equipment they've been buying will end up. Always found it funny they pumped so much money into immovable assets that would be worthless to anyone else but the mine. Easily bought back cheaply one might presume. Why else have a tailings thickener never used?

Whole thing stinks to high heaven.

Baz, as far as i'm led to believe. He "donated" the 22k round to a museum in glasgow. If you believe he would give away 22k then either something seriously fishy or seriously daft going on. As I pulled out of him before, the gold on the mantlepiece that should never have left the time etc. All stinks to high heaven.

Shychap, I would second that. Leave liabilities behind, hive off assetts, use new unindebted private company to crack on. All shareholders left behind with big cover stories of how much directors have "lost". Yet no stories on new private co. Bes t guess at the moment. Or shareholders given 10% of their holding as a token keen quiet jesture.

TB REVEAL YOURSELF.

BP you’ve more chance of a free loft conversion from a Dorset donkey than getting you’re money back here my friend. Who would finance this shambles?

I think this part must be noted...

"The outcome of the funding discussions is highly uncertain and if the Company cannot conclude a significant fundraise, it will cast material uncertainty for the Company to continue as a going concern."

But lets be honest. How many times have they raised money and at every turn, it was always to save the business and create great jam tomorrow. Never worked then.

On the TB front. Remember all the big sells since he went MIA. Makes you wonder. He pumped it up then F**ked off when it hit the pan. Won't be a popular man.

George, on this occasion I was hoping to be wrong. I’ve had my losses on this company long ago but feel sorry for those who kept the faith when they had no other options as it’s been a long slow cut. At least I cut quick and got out I suppose.

In terms for the future, if there is one…

It’s not an easy fix for anyone. Covenants with the national park may not be transferable in the same way other assets are. I reckon administration and a pre package deal off the back end of it to a new body. You’ll probably find nlr will either form part of the “buyout” taking his guarantees over, or he will sell up for a bit of cash to a newco. I can’t see enough cash coming into cover debts and make changes so debts may be left behind or restructured.

Either way, shareholders will be shafted.

Honestly, It's over. If anyone still believes it isn't, they need their head examined. If finance was available, it would be here by now. If there was a way to economically bring the gold out, it would have happened by now. Remove every bit of debt and this mob still wouldn't be able to make it a success. The mine MAY or may not continue, but it will be in a different incarnation. This stigma will stalk the scottish mining industry for years. The exact opposite of what SGZ promised. Disgusted isn't even the word. I hope they loose the mine and someone with an ounce of honesty takes it over and runs it for the benefit of the local people, shareholders and economy.

This board was never honest, never sincere, and the BOD deserve their losses. Unfortunately, the shareholders and employees don't.

The only consolation I can take tonight is that the mine never had a bigger impact on the local economy than it did.

As for TB, NLR etc. This will haunt them in every future business. I wonder if TB will be propping up the bar in the tyndrum inn this weekend? Or hiding in his attic in dorset.

Tyndrum, Scotland, employees and shareholders all deserve better. Is it time to arrange a get together in tyndrum to show our disgust?

Well, it's finally happened. I tried relentlessly at times to say the shares would be suspended. Got lambasted by Tyndrumboy, samson, genoir and others for doing so. Well, where are they now to tell you how wrong I was? Just remember who was on here trying to give you the heads up, Me, BP, Baz etc. and those who didn't come on to tell you the truth after years of pumping it away. Where was TB when it was going wrong to come on and tell us all? NOWARE. In hiding like a coward. I wouldn't want to be that man. Bring in the regulators. Heads must roll.

So sorry for those who have lost.

Would love a shareholders meeting for a welfare check on a few shareholders MIA.

Can only imagine the promises that will be made. I suppose, when your CEO turns up to a video conference call in a hoodie saying thats all he's comfortable saying at the moment.... it's not exactly rocket science things are ropey I suppose. As baz said, the writings been on the wall for a while. The review might confirm it. If there is one.

I mean, it’s not as if there’s any directors in the company who would actively ask for legal advice on how much bad news can be kept from shareholders is it.

Oh wait…

BP

I would assume when a company announces a review they then implement that review. Just common sense. If you are proposing a huge gap prior to commencement of the review even though it was announced, should they not inform they are announcing it far in advance of its commencement? Odd point.

So the third party reviewer is now installing ventilation upgrades etc? Or are the directing the upgrades and not reviewing but directing?

Or is there no third party and the internal review is by the blind leading the blind?

Or are decisions made regarding ventilation upgrades preceding the outcome of the said review?

On to say what a review will encompass when it’s supposed to review which direction to take!

One might assume that the whole Shirade of a “review” was mere smoke and mirrors to keep you minions silent for a few months eh!

Atb to you

Well done old chap on the surgery. Glad it went well.

Even better when it’s on the nhs but I fear any surgery at Scotgold will be time consuming and costly. Longest review I’ve ever seen already. Or is review complete and outcomes unpublished? How long will city rules permit that

anyone any suggestions on what the review will tell us. i can only see three outcomes.

1. everything is great, keep doing as you are.

2. everything isn't great, we need more investment/dilutions to continue or restructure.

3. everything is terrible, it's all over, we didn't realise until now. **** covering time.

open to other theories but are any of the 3 above good?

Troajan hates the truth. Doesn't want to hear of how bad it actually is. Doesn't want others hearing how bad it is. And why you may ask? Well... kind of obvious that one.

Remember the "premium product" we all got told about. Heard today half of it remains on the shelfs unsold at the jewellers. I'm not saying scottish gold isn't desirable, as it is. But clearly not been pitched right. High end nonsense instead of just selling it by the brick to the public direct. Not got a clue.

This just in from a local…. It’s over, finito, caput. There’s more chance of TB hosting a drag night to pay back his followers in the tyndrum inn while rockhead slips him 20s from his sgz profits than there is of this mine turning a profit in our lifetimes!

Rockhead. Perhaps i'm just old fashioned and believe that a man should have the courage of his convictions. He's ran like a dog and hid when times were tough. I've seen grease dripping salesmen with more honesty. Do you think he would be in hiding if the cash was flowing anyware other than out the door? Of course he wouldn't. But a coward is, as a coward does. Would you trust him with any conversion work if this is how he treats his problems... me either. Hide and seek world champion at this rate.

I've heard of marco polo. But TB Samson is another level.

On the benidorm front, i've been known to sun myself on the beaches of benidorm from time to time. Even enjoyed the odd comedian on the strip. A few years back it was a comedy hypnotist. I ended up flinging a rolex across the room to my mate. Not because I was hypnotised, but because I was drunk, on stage and didn't want it getting scratched. So decided to fling it across the room instead. Still a better decision than my SGZ investment lol.

Where do you holiday Rockhead? TB's garden?