Member Info for Eck71

As Napthman quite rightly said last week, good lick to us all.

Come on BP, crack a smile (or maybe a bottle). Every time we've had a little retrace over the last few months I've wondered if I've been naive not trading a few on the previous high. And every time I've wondered that, another day like today has come along almost immediately. Strong stuff.

There's a large buy showing as a sell. Evil MMs! *chucks toys out of pram*.

NYT coverage (good spot BP) plus a positive exploration update makes for a Happy Monday. Wonder if we'll see a further flurry at lunchtime as the US wakes up?

Come on Scotgold!

Because this is a shonky free platform that just takes the midprice at time of display. Don't fret.

Think there might be another delayed/late buy kicking around at 118p. All blue on the Aquis as usual.

Now *that’s* what I call a delayed buy! That must be the largest single trade we’ve seen here for some time...

Thanks for that 15 year old article. Here, for what it's worth, is a 10 year old academic paper which found naked shorting to be 'net beneficial for liquidity and pricing efficiency':

https://www.ou.edu/dam/price/Finance/files/Naked_Short_Selling.pdf

But whatever. My point is that people on here routinely complain about delayed buys showing as sells, presumably under the impression that the dastardly MMs are trying to scare weak holders into parting with their shares at an unfairly low price. But when the opposite occurs, what? Is that the MMs trying to artificially inflate the SP? Maybe. If you think there's naked shorting at work, do you think this share, which has risen 200% in the last 12 months, is currently under attack by a wave of shorters?

AIM is a barely regulated cesspool whose illiquidity leaves it wide open to manipulation. And I've no doubt that SGZ has seen its share of that. But when when a soon-to-be-producing miner sees the price of its product drop, and risks to its development schedule increase, is it not just *slightly possible* that a market participant thinks 'I'll take some of that risk off the table thanks', sells a chunk into an illiquid market, and the price drops a bit as a result?

Peryskop, that 117p trade at 12.28 on Monday was clearly a sell, hence the southerly SP movement that lunchtime. It’s unsurprising that some de-risking occurred on Monday. Sometimes a trade is just a trade, not a conspiracy.

Good to see a tick back up again today. Gold under pressure but should be another short term ‘sell anything in profit for dollars and US treasuries’ phase. Very, very encouraging Twitter update. Come on Scotgold!

Well, gold got slammed and there is some heightened risk of Covid impact (although IMO not that great a risk for Cononish). It may not be a particularly well-regulated market but it's a market, and when things happen that are perceived to be negative for stocks, the market is entitled to react. If you feel SGZ is now woefully underpriced I suggest you fill your boots!

Here's my 'Technical Analysis':

Development Schedule on track for end of Nov production: Positive
Any delays in Development Schedule: Negative
Significant exploration updates: Positive
Gold Price up: Positive
Gold Price down: Negative, though not much unless it craters

Anything else is Bollingers.

Yes dear.

Also very much enjoying that Cononish is now being referred to as Scotgold's 'flagship mine'. Looking forward to the rest of the fleet hoving over the horizon...

https://twitter.com/scotgoldresltd/status/1306503156860248066

Well, your efforts are much appreciated Bellers! Good to see a little nudge up for the ask after yesterday's rise. A solid base above £1 now seems possible. Meanwhile the arm wrestle around $1930 continues in the gold markets and sterling is getting humped as the UK embraces its rogue state identity. Fun and games.

Hi BP. I don't think £1.80 on production is out of the question at all, and I've tried to keep my expectations pretty grounded over the last couple of years (like you, nearly a decade of disappointment and false dawns has seen to that).

Big tug of war in the gold market over the last few weeks. Doesn't want to go back over $2k, doesn't want to stay below $1930ish either. Will be resolved in the next few trading days I suspect. A renewed run up over $2k into October would bring your £1.80 target within closer reach. If we're back down in the $1800s well, so be it, I would have bitten your arm off for that a couple of years ago.

Unless of course https://www.intelligentgrowthsolutions.com/ and the other vertical farmers take over the world, which they might. I used to play a bit of village cricket against their CEO. Very competitive.

Hi Samson, I agree with all that, and your previous comment about land. That's certainly Michael Burry's view, as I suspect you know. He may be a little early as he was with the subprime housing market, but I strongly suspect that in the longer term, long (productive) land is the place to be...

The gold market is providing much more interest than the SGZ market this week. Looked like support around $1930 was finally going to cave in yesterday but no, it just about held the line and popped back up to $1950 this morning. Feels like that could be the correction done. We shall see.

I would say that at current prices there’s approx £350m of gold and £20m of silver (measured and indicated) in the project. Silver is going to have to do a lot of work for it not to be primarily about the yeller stuff.

...it is perhaps interesting to note that while modest volumes, there hasn't been a single sell amongst the 30 or so trades since 9am on Monday. Completely blue since then apart from one at mid-price.