Member Info for Eck71

Sure, but if it's someone flipping their 25p options for a 150% profit, which they weren't in a position to do when it was 80p, not really so painful. More like pragmatic profit-taking and de-risking.

It's not me BTW. To me the mid 60s looks like quite an attractive buy-in price and indeed in October I did sell some at 81p to buy back at 65p (and fund my options). I can't add more now but I may be in a position to in Jan, and if there's still a chance of getting in at or below 65p (like when there's a dip after the company announces it will miss the production target date of late Feb) I'll be scrabbling around down the back of the sofa!

GLA, DYOR etc etc

Me too.

Couldn’t be clearer. Taxi for Winnifreth and Duck chap.

Expect to see some sells over the next few weeks from options flipping though.

Have a good (and calm) week everyone.

BlakeneyP, I don’t have access and have only read the opening para. I have though read another board and the views of the alleged shareholder (also alleged recent disposer and 300% profit-taker, but we’ve grown used to such inconsistencies) who is almost certainly ‘Mr C’ the source for the story and purveyor of numerous speculative SGZ-bashing confections over the years.

Note 17 to the accounts is ambiguous in that it is headed ‘Commitments to Expenditure’ but in respect of the new licence agreements says: ‘On making that application, the following programme of exploration costs was proposed’.

Is that expenditure as outlined a proposal or a commitment? That’s the key question.

FWIW, as an actual shareholder it’s been obvious (to me anyway) for years that a full programme of exploration and development across the Grampian licence area would likewise require major new investment on, whether through a sale, JV or strategic investor. I can’t give any comment on the supposed governance issue because a) I can’t read the whole article b) I don’t have that expertise anyway. But it really shouldn’t be any surprise to anyone that, while Cononish Phase 1 might be able to internally finance Cononish Phase 2, it’s not likely to finance a wide ranging exploration and development programme at the same time.

Better than mine, I meant. Not RM’s. His are always good, in an elliptical sort of a way :-)

Bankies’s answer is better.

Hi yayay, there is stuff in there about a lead time related to Australia so I think they are giving themselves plenty of buffer for the processes to work through ahead of 31 December.

It’s not quite what I was expecting, but to be honest I’m just glad that the options are showing, there’s a clear instruction about how to exercise them and a ‘do it now’ button, which I was only too happy to press!

Bankies, thanks for the heads up. Done.

Blyth, you have misread. The notification says that once you have subscribed for the shares, you can’t then sell the options.

All in order, but Halifax/BoS have a 5 November deadline for subscription so anyone with them should get on with it if they want to.

Very pleased to have finally exercised some Scotgold options at third time of asking!

a most entertaining week. Very solid day today. Have a good weekend everyone.

Glen, sadly not attending presentation or AGM, but keeping a close eye on things and look forward to raising a glass somewhere in Feb/March, if all goes to plan...

Glen, indeed. Not much selling interest in the 60s which is good to see. Plenty of profit-taking opportunity this week so those who wanted to sell some or all in the 70s or 80s have had the chance to do so. Should leave the road nicely clear for the next run-up when it comes, though I think we may now have to be a little patient after this week's excitements.

Glen, not a misprint, as I said it's just reprinting the MoS Midas piece from Sunday - which gave the view that at 54p (closing price last Friday) it was a buy.

Just reiterating the MoS coverage, but Scotgold appears in MoneyWeek's share tips of the week as one of 'three to buy'. Doesn't hurt.

https://moneyweek.com/516562/share-tips-of-the-week-157/

yayay, Samson, thanks. As far as I could tell from my chat with Halifax, I think there may be discussions about some sort of pooling/holding arrangement with the brokers to avoid the company having to issue an RNS every time someone exercises a few quids' worth of options. I'm sure it'll be fine, but I'd kind of assumed I could just press buy at a moment of my choosing!

Morning all. It's been an eventful week. Banked a few at 73p (not brilliantly timed) and then quite a lot more at 81p (better), now come back in for some at 65p. I suspect that may be about the level now until there is significant news or once we get close to production in the new year, but we shall see.

Just had a slightly circuitous chat with Halifax about the options. They're doing better than Barclays in that they are showing on my account, so at least they acknowledge they are there. But they are apparently 'waiting to hear from the company about how they want the exercised options to be dealt with' and will be sending me a letter in due course. As far as I'm concerned I should be able to exercise them whenever I want up to 31 December, thanks very much.

They're sitting in a currently unfunded account so will stick in the necessary cash and see if that triggers a more obvious route to getting it done. Anyone else getting a similar story, from Halifax or anyone else?

Rockhead, well indeed and they would need to be very golden, to justify glen's £1.2bn valuation (assuming no further dilution)! I'm no geologist but Beinn Udlaidh looks pretty interesting and as most LTHs on here would agree, is the obvious Cononish 2 candidate. And Cononish open at depth - Nelly's down there somewhere, the question is how long it will be before she breaks cover, and what will it cost to get to her...

yayay, I think Morar and Glen may be seeing elephants , possibly following a celebratory night on the Tyndrum Gold...

Exactly. Entertaining spike this morning. Four more months of build-up to come before production. Some nimble sellers taking advantage early on today, and who can blame them. This will settle down at a new level and plenty of news and momentum to come over the next few months.

Link below. If it doesn’t work search for this is money scotgold

https://www.thisismoney.co.uk/money/investing/article-7565833/MIDAS-SHARE-TIPS-Scotgold-Highland-stock-really-gold-mine.html

Matron?