Member Info for Eck71

Yup, want to take a guess where we'll close today? I honestly have no idea but there will be a few people trading their RI shares to balance buying pressure. Ok, I'll guess at a 37.5p close. Total guess though.

Welcome applegarth. Pre consolidation SP was around .4p. 16m shares in issue, but the vast majority are in quite sticky hands and not going anywhere soon. No idea what the SP will do tomorrow but current market cap is silly given a pre tax NPV of GBP43m. Planning removes first big risk/unknown. Where the additional GBP5m comes from is the next one - what'a the plant finance/debt/offtake/equity mix? Once we know that, we'll start to get a real sense of what a reasonable SP target for 2019 might be. Good luck with your timing! Eck71

Yes morning RNS presumably. Will be interesting to see what the SP does. It's different to 2011 when there was a big ramp prior to the decision. We've not had that this time so we *may* see an actual, logical positive SP response. I'm not expecting miracles though. It was always likely to be passed but you just never know for certain until the arms go up. Really good that it was unanimous as well (just like last time). Onwards and upwards boys and girls. I'll be toasting SGZ tonight and let's see what March brings.

https://twitter.com/GrahamScotgold/status/968524744671879169

Do we have a decision or is that just a general exclamation of hope and faith?!

Do we have a decision or is that just a general exclamation of hope and faith?!

Amen to that. Eck (with tranches at 520p (not small), 28p, 56p, 60p and 25p)

Hi BlakeneyP, I've given up trying to guess the SP movement, but we haven't had a pre-planning buying spike so I wouldn't expect to see the news being sold heavily. *If* we get a yes I think we'll shift back to a level around 40p (don't forget we have �3m to get started with) and then it's about if, and on what terms, the rest of the project finance is forthcoming. Only once we know that will we know whether we have a reasonable chance of approaching the 100p level in 2018. *If* we get a yes, I hope there won't be too much post-decision bureaucratic faffing. And as I've said before, I'm fairly sure we won't see a valuation that reflects Scotgold's potential until gold is coming out of the ground and being sold.

Hi TLC7, I'm all in after the last RI so no more buying for me for the foreseeable. I agree a GBP8m market cap is a joke. But until the extent of any further dilution is clear the market, such as it it, will continue to ignore the potential because it doesn't have any faith that this long, frustrating story will have a happy ending (or rather a happy end of the beginning). Even after planning and funding I think the market will remain sceptical that Scotgold will get to Cononish production without running over time and over budget. TBH I slightly share that scepticism even if my long-term faith remains undimmed. I hope that proves to be unfounded and that some of the potential pre-production upside comes through - capitalising on the work done in France in Portugal, whether through JV or sale: potential HP on plant: other financing weighted towards debt rather than equity. But I still doubt we'll get close to a fair value until gold starts coming out of the ground at scale.

Hi yayay, it's an odd and not unpleasant feeling isn't it? Next target is the .6p/60p RI. That would be nice. I fear the 5.2p/520p I paid for my first tranche in 2011 may Be a while coming...

Hi Glen, can't make it I'm afraid, will be keeping a close eye remotely. TLC7 yes each to their own, but bound to be some buoyancy in the SP over the next week. After that, who knows, this being AIM. Was hoping we might see gold close above USD1365 this week, but not to be. Feels like it's coming though. Wonder if we'll see any excitable unfamiliar faces on here next week - could be fun!

Selling now? I mean fine, sell on or just before the planning news in 10 days time, but now? You don't think there might be a bit more upside as expectation rises ahead of the 27th? Amazing.

Steady now, we're in danger of the ask hitting the RI price! Jaded sarcasm about the SP aside, this is all good. I've skimmed through the officer's report and it seems very clear and fair on the various issues at hand. There are one or two slightly unhelpful bits, but on balance fine. The almost complete lack of objections, subject to a few proposed conditions, from the consultees sends a pretty powerful message I think. We should see some modest upward pressure on the SP over the next 10 days, which will make a nice change. I long ago stopped expecting anything spectacular in the short term, but with planning permission in the bag and �3m in the bank to get going, a market cap of c.�7m just looks ridiculous. After 27 Feb it's all about the remaining �5m - can we minimise dilution? Time will tell, but it is good to be getting, finally, to the business end of things.

Good news that only a fortnight to wait for the decision. Hopefully we will get a (positive) recommendation from the officers in advance of the meeting. Not much longer to wait now. *If* we get approval, all the signs are that development work will start asap after that, regardless of imminent or not the additional c. �5m funding is. Let's hope that 'asap' doesn't mean 'some time in 2019 after yet more bureaucracy and planning conditions have been dealt with'.

Right, having waded through some fairly text-heavy and discursive stuff posted on the GAL website, I've found a NPV quote for the Omagh project of �14.5m, although this is based on a gold price of �750/oz so significantly understates it compared to �940ish where we are now. But using the �750 figure: GAL: �14.5m NPV �9.4m Market Cap 171m Shares in issue Implied SP 8.5p (but in reality probably more like 12-15p at current gold prices) Current SP 5.5p SGZ: �36.1m NPV �6.24m Market Cap 28.4m Shares in issue Implied SP �1.27p Current SP �0.22p There are so many differences in the situations of the two companies that I'm not sure there's any real use in a direct comparison, although on the face of things it does re-emphasise the extensive SP upside potential for SGZ, *assuming* not horrendous dilution from here and of course planning. The judicial review/appeal scenario that GAL has been wading through for the past two years is one that could give you sleepless nights. If someone has deep pockets and wants to put a spanner in the works these things can be spun out for a long time, even if as seems the case with GAL the grounds for review/appeal are flimsy at best. It's worth noting though that they have been able to continue with development work at Omagh (but not production) despite the pending decision. If I had to pick one of the three now, I can honestly say I think SGZ offers the best risk/reward though GAL doesn't look a bad bet either. DALR is a fabulous project but seems quite fully priced given the uncertainties ahead on the planning front. All IMHO, back of an envelope, *massively* approximate musings. DYOR etc etc etc

Hi Rockhead, I'll have a look at GAL when I have a minute. Dow just completed another -1000 day. Interesting.

Just for fun, here is a follow up to the previous comparison I did. Implied share price assumes using post tax NPV as the valuation, no further dilution and no value ascribed to any other assets so *very* fag packet and not of any value in itself, just an interesting comparison. The DALR SP has been under the cosh recently too. DALR: �230m NPV �197.3m Market Cap 355.5m Shares in issue Implied SP �0.65p Current SP �0.58p SGZ: �36.1m NPV �6.24m Market Cap 28.4m Shares in issue Implied SP �1.27p Current SP �0.22p BTW there's a clarification on the LLTNP planning website re volume of above-ground tailings in the revised application. 9% more material above ground proposed than in the current permit, but with considerably improved landscaping etc.

You're six weeks early - clocks go forward on 25 March.

I'm encouraged by the 6% SP drop precipitated, so it would seem, by an �18 sell this morning. News by the end of next week on date of planning meeting, perhaps? Meanwhile it's fear everywhere, which should be good for gold even if the dollar price isn't going anywhere at the moment. I'll be surprised if the dollar spot isn't at post 2013 highs by the end of Feb. What we don't want is another full-blown financial crisis that completely cripples capital markets.

Re plant, isn't ZAR/GBP more relevant than cable?