Member Info for BlakeneyP

Put, "Brent mused".

Last year's Q1 update came out on the 21st so I reckon on Friday or Monday we'll have some news.

Has the company already got its bad news out of the way in terms of the grades turning to waste earlier in the year?

You'd kind of have to hope so and that confirmation of the bad news won't further dent the share price but how many goes were there trying to get the bad news out of the way early at the end of last year? Two or three? (And that was a transformational year, don't forget.)

All wreaked havoc with the share price but the Scotgold way seemed to be to hold back even worse news for January, doubling down on bad news in February, and then in March announcing its coup de grâce resulting in the abysmal share price being what it is today.

Fingers crossed as well that any indicative figures relating to grades from the recent lhs blast (or blasts now?) are positive and don't spell the end.

Anybody scrolling through this board for the first time might well think it's a board for former residents of a lunatic asylum! The Magic Roundabout, pop classics, advertisements for Hartley's jam, Shakespeare references, Benidorm weather forecasts, favoured whisky tipples....mostly funny, frustrating sometimes, very, very occasionally inappropriate, but anything illegal? Doubt it. And no-one is obliged to post anything here - sure it might make a change to read something useful and interesting rather than a rah rah rah ramp but that's life.

It wasn't a talkie right enough but I thought it was a great 'wee video' - best news and post on the board for weeks.

Maybe the facts and figures presented in Edinburgh will come to fruition and lhs will finally lead us to the promised land.
Come on Scotgold!

Have we done Old Testament references before?

No forced hands or coercion but was there illegality in what shareholders were or were not told and the timing?

As I wrote here a few days ago, it's now binary to me.

I know you don't want it to fail BBB. In all the years, with one possible exception, everybody posting here REALLY wants the company to succeed. Just wondered with your mining experience if you thought the end was nigh or if we'd limp on a few years yet.

Do you find the figures in the Edinburgh presentation re grades and proven reserves credible? Even if yes, you don't think we'll pull through long term?

Andrew - do whatever you think is right but there's no law against posting nonsense on the internet or giving it the big I am on discussion boards. It might be annoying but it's not an offence.

Blatantly misleading investors however........hmmmm. The promise of fabulous grades and returns when reality might suggest they knew we were actually mining the barren rocks of Tyndrum.

Time will tell.

imho

Somebody got my post likening a random "attack dog" with Dougal from The Magic Roundabout removed!

"Spoilsport," grumbled Dylan, as he lay back against the bottom of the widest and most comfortable tree in the garden, gently strumming his guitar, and daydreaming of pots of gold at the end of the rainbow.

"Time for bed," said Zebedeee.

BBB - do you think the company will fail before hitting the mythical 2,000 oz per month figure?

Or is it that even if the company survives and does hit that figure, you think even that won't be enough to secure a decent future?
...
Those who bought bought as I've said before but when PD talked in Edinburgh about the grades being obscene, silly me thought he meant obscenely high and not obscene as in a worthless pile of rubble that cost millions and took years to find.

"Those that visited the mine enjoyed their day and all the questions they asked were answered those that didn't visit didn't"

One can assume that questions were asked about the authenticity and content of the emails purporting to come from and going to the lawyers.

Well?

This from the same RNS on 27 March:-

In January 2023 mine development focussed on the 430 West ore drive, 415 East ore drive and the incline ramp accessing the 445 level. January's development rates continued to improve and was a record month with 3,003 tonnes of ore mined, and 2,620 tonnes of ore fed to the process plant. Average grade of the ore processed was lower than predicted (5.65g/t actual vs 7.35g/t planned of gold).

February's presentation didn't give off vibes about grades already being lower than predicted. Far from it.

To me it's becoming binary as today's parlance would have it: either we were lied to or we will achieve the figures in the presentation. If it's the former I don't see how it's anything other than criminality.

If it's the latter, tally ho!

imho

With two bank holidays just gone after Wednesday's first blast I wouldn't have expected another update already from the company.

Might have expected something - even a tweet - from those who went to the mine. I wonder why the radio silence about progress.

The grades in January turned to waste yet PD gave this presentation on 9th February. He's extremely positive about the grades...and everything else.

https://www.sharesmagazine.co.uk/video/scotgold-resources-sgz-phil-day-ceo

Yes, those who bought bought but there are laws in place to prevent blatant fraud.

He looks to me like he is telling the truth but if he was lying then the Procurator Fiscal should be getting in contact with all involved in the preparation and delivery of that presentation. And to repeat, our chairman at the online meeting speaking about revealing what they're comfortable revealing at this point stank to high heaven.

Give us a break Scotgold. 12 years of this. 12 years!

Any number of doubts and third degree burns here as well!

But February wasn't a long time ago and either what he was saying was bogus, or the information about proven reserves, their worth, the grades, the speed of lhs getting us up to 2,000 ozs a month, and being a cash cow was true.

Have a good Easter everyone and I hope those visiting Tyndrum have some interesting, informative and good-natured chinwags.

"Now it's all about the reality of today and the delivery of a steady supply of yellow metal:" - that's my point exactly.

If February's presentation wasn't misleading or dishonest - and it didn't come across that way to me, then that "delivery of steady supply of yellow metal" and at very high level grades, got underway on Tuesday.

Furthermore, the £500k deal is done and there's likely to be some sort of convertible loan available from the directions if the need arises.

Confused dot com

Indeed , and you and I have been here an awfully long time and have seen so many targets fall by the wayside, but if THIS time it's all true - and has anyone given solid grounds for doubting his February figures, the gold and grades lhs will deliver? - then surely by this time next year...........

From 8 minutes 45 seconds PD talks about the amount of gold in the ground and its extremely high grade, and you can see the proven and probable reserves on the slide.

I SERIOUSLY get the missed deadlines, delays, drilling fruitlessly in the wrong direction, debt and years of frustration but aren't we finally on the way to realising the mine's potential in a way that the industry acknowledges will quickly benefit the cash flow?

So what am I - and the market makers lol - missing?

https://www.sharesmagazine.co.uk/video/scotgold-resources-sgz-phil-day-ceo

Would about now be a good time to talk about a resurrection of the share price?

https://www.scotsman.com/business/scotgold-resources-secures-crucial-financial-boost-as-new-mining-commences-4092858

Much the same information as in the RNS but with this addition:

Sheldon Modeland, an analyst at house-broker Shore Capital, noted: “The commitments from the company’s offtaker and debt provider are encouraging given the current working capital constraints and requirements. Looking forward, we highlight that long hole stoping is the most appropriate mining method for steeply dipping narrow vein gold deposits like that observed at Cononish. The main advantage is that ore can be generated quickly for processing thus benefiting cash flows. That said, the main disadvantage is that rapid changes in ore width or payability may not be seen as quickly as other methods.”

From 15 minutes in PD explains the stoping process and why it's so important to Scotgold.

If the figures are still right, yesterday means we should now be well on our way to being able "to pick and choose the grades" and quite quickly get up to 2,000 ozs per month, and begin to make a lot of profit.

But after the recent disasters contrasting planned versus actual, who knows?

https://www.sharesmagazine.co.uk/video/scotgold-resources-sgz-phil-day-ceo

You'd think if the company finally managed to hit a target and had begun blasting today there would have been a steady stream of buys - even small ones - as news filtered out.

On the other hand, if this latest target was also missed one might have expected to see lots of sells.

I wonder what Scotgold's directors will think seeing this:

Credit Suisse investors have voiced their fury at the leadership of the failed bank at its final shareholder meeting, with one saying the board would have been crucified in mediaeval times.

https://www.telegraph.co.uk/business/2023/04/04/ftse-100-markets-live-oil-prices-virgin-orbit-stock/

Err.........so to avoid lengthy speculation based on supposition, it was summed up in a single sentence earlier:

They should also comment on what has happened to the £3 million raised in the recent placing.

Not sure how much weight to put on the content of the leaked emails, and this should enable the company to limp on a little longer than 13 weeks surely.

"In order to safeguard against this potential shortfall in working capital over the next few months the Directors have determined to take steps to strengthen the Company's cash position. The Company is in advanced discussions with its gold offtake partner, and is reviewing final documentation, to secure a US$500,000 advance to assist with short-term working capital. The Directors of the Company have also discussed, if the need arises, the provision of additional working capital, in the form of equity or a short-term convertible loan."