Member Info for Eck71

I'm not sure even Ms Sturgeon's worst enemies would ascribe Canonbie's witterings to her. There are many good reasons to feel very positive about the forthcoming planning decision, but it is by no means 'automatic'. Gold is currently trading a few dollars above the September high. It's made a number of convincing higher lows over the past year or so - now it needs to start making some higher highs. First stop is the July 2016 high of $1365. A convincing break and hold above that would be helpful. (Obviously the sterling price is what determines Cononish's profitability, but broader sentiment is driven by the dollar price).

Hi yayay, nearly dead from boredom, but hanging in there. I've just got round to reading the Stirling Observer/Edinburgh Gazette planning ads, which say: "Written representations may be submitted through our online comments facility, by email to planning@lochlomond-trossachs.org or by post to the above address, within 28 days of 12 January 2018" Or 9 January for the Edinburgh one, yippee. So that means the officers will not be making any decision on a recommendation before the week beginning 12 February. Add a time lag for organising the committee meeting, and I don't think we're going to get a planning decision before March. Anyone got a more optimistic analysis?

Hmmm... https://www.byline.com/project/86

Reasonably well supported under the circumstances, I would say. £1.1m from NLR, £1.5m from elsewhere.

yayay, not cynical, but definitely exasperated/exhausted/frustrated. I read it as a Board site visit followed the same day by a special Board meeting at which the decision would be made. Just as, for example they convened a special Board meeting in Jan 2015 to consider and make a decision on the extension of working hours. I don't *think* they'd have a 'hearing' without making the determination. You're right though, it's ambiguously worded and could be read in a different way. I hope my interpretation is correct because if it isn't, it's March for the decision.

The Park Board met last Monday 11th and were invited to: 1) agree that the planning application relating to the Gold Mine at Cononish will be brought to the full Board at a future meeting; 2) agree that a special meeting to consider the planning application should be arranged and should take the form of a hearing and a site visit. The hearing and site visit would be held in early 2018, at a date to be advised. I would expect that they agreed this, though I can't confirm - anyone know? Paper posted in advance of the meeting available at the link below: http://www.lochlomond-trossachs.org/rr-content/uploads/2017/01/Board_20171211_Agenda9-Cononish-Hearing.pdf Personally I never thought there was the slightest chance this wouldn't go to full Board. Good news that they will arrange a special visit/hearing for the decision so we don't have any further wait - assuming everyone gets on with it of course, which this being Scotgold I'm going to put in the 'heroic assumptions' file. Anyone want to bet that the site visit/hearing is scheduled for late Jan/early Feb and then postponed because bad weather makes the site visit impossible?

Gold getting battered at the moment. I ain't bovvered. Been more or less the same scenario every December for the last few years. Seems to make a habit of coming roaring back in January. I'll be a bit bovvered if it goes below $1,200, but only *really* bovvered if it goes below last year's December low of $1,127. Meanwhile the BTC Tulip Fever continues unabated. When/if it that bubble pops, gold will still be there to remind people what a long-term store of value really looks like. I'd be lying if I said I wasn't a tiny bit envious of those Winklevoss boys though.

canonbie, can I suggest some reading for you? 1) RNS 16/12/13, for a SGZ precedent re rights issue extension (happens elsewhere too, not particularly unusual). 2) RNS 13/11/17, to remind you that this RI is underwritten. Other than that, great stuff as ever, please do keep it up. yayay, you may think you're in the Little League with 100,000 but I'm in Kindergarten with around half that. There are of course some bigger beasts among the regulars here... Scotgold's ability to find seemingly endless ways of prolonging the frustration never ceases to impress. GLA

Hi yayay, you have my sympathies! I've participated in all the RIs from 2013 apart from the .33p (I think) one in 2014. I was just about to start building a house at the time and was sailing very close to the financial wind as it was - just couldn't do it. We have to get the planning risk out of the way, but assuming that goes ok, now we have development cash to get going, even before the rest of the project finance is in place this will look seriously mispriced. The comparison with DALR is interesting, as I've said before. Theirs is a much bigger project, but while their market cap is c. 100% of the value of their main project (pre planning), ours is c. 10%. Ridiculous. The risks remain non-trivial but for me, the potential rewards at 25p (plus options) too good to pass up. All IMHO. Eck

Hi Glen, good to hear an enjoyable time was had by all, and thanks for the uber-cryptic update! That's me locked and loaded for the full RI entitlement (but no excess, which I would expect to be available for those with the appetite). Either a textbook case of naively throwing good money after bad, or a brilliant and brave example of not losing my nerve at the last hurdle. Time will tell.

If anyone present at the AGM has any insights to add to the scintillating RNS, please do let us know! Dalradian got their planning application in yesterday and closed their �45m placement. There are 12 working days left to the determination deadline for Scotgold's planning application, and as yet there is no committee date posted on the LLTNP website. Come On!!!!

I've already burnt my sofa to keep warm.

So, time for a few thoughts on the RI. In the sense of 'do I have the appetite for one last throw of the dice here, with money I don't have?' Cons: We will probably have to take the plunge before planning is confirmed (though possible we might get the officers' recommendation before the deadline) The risk of planning not going through is not 0% It's quite likely NLR will end up up with majority ownership after the RI, which given his history of taking IG private gives pause for a moment's thought. The risk of the project not getting financed is definitely not 0%. Pros: Even given the outstanding risks, 25p is pretty good value and potentially a last chance to average down substantially for those of us who started this journey at over 500p (in new money). A £2.65m commitment from NLR is not to be sniffed at. Obviously he's going to end up being in for less than that, but other funders who are looking to see who's got skin in the game will see that as significant - it's a big vote of confidence. I've only clapped eyes on NLR once, at the August 2016 gold pour. He struck me as the opposite of someone who makes reckless, emotionally-driven decisions. More a case of 1s and 0s scrolling away behind the eyes if you ask me. The £2.65m makes a substantial dent in the remaining funding gap, and therefore the future dilution from here, especially if the company is able to secure meaningful debt and vendor finance elements in the mix. If planning goes through, with the £2.65m in the bag to get cracking immediately there should be a decent SP rise post RI even without the remaining finance (which will reduce dilution from future equity funding element). The huge investment some of the big players - Blackrock et al - have made in Dalradian sets a great precedent and IMO is bullish for our chances of getting finance. Options exercisable at 40p is a nice little carrot, though I'm still smarting from the damp squib of the last lot. Possible French/Portuguese news re JV/farm-in. RI means immediate start to Cononish development work, no further delays. So, on balance I'm feeling like I'll probably try to take up my full allocation. The potential rewards are too great to pass up, even if the risks remain unignorable. Good old Scotgold. Still a punt after all these years. GLA Eck

Hi MindTheGap I use Halifax and no, I haven't had the corporate action notification yet either. I've not had any problems with them in the past so I'd expect it to come through in the next few days. If not, give them a ring and chase it up. All best Eck71

Always uplifting to hear from you Diagem. Cheer up, on the rise this morning!

The chief executive of Randgold Resources, London�s biggest listed gold producer, reckons gold prices are likely to push higher as a decade of loose monetary policy comes to an end. �We have populist politics, a very brittle global economy underpinned by an enormous quantitative easing and a decade of free money and that�s uncharted territory,� Mark Bristow said in an interview with the Financial Times on Thursday. �Gold will always play a bigger role in time of uncertainty and change in the financial markets as well the global economy.� He added: �It�s hard to see the central bank enforcing the discipline needed to suck that massive oversupply of money out of the system before it really hurt the economy.�

Now posted on the Park planning website. They seem happy enough: "Thank you for sending SNH the notification of the further information supplied by the applicant. The further information clarifies and addresses the points of detail raised by SNH over the restoration of the site in our response to the EIA (15 September 2017). We have no further comments to make at this stage." Now waiting on SEPA...

Happy Birthday Rock! Not much to say unfortunately. more waiting on SEPA to respond to the responses, which will probably not appear much before the new deadline of 14/11. More waiting on the planning committee date. Gold trading in a fairly narrow range. All very boring and frustrating. What would be nice would be some sort of activities update on dore produced/sold from the galena tabling. But they may well not bother with that until Jan when they will have finished the BPT and shifted all the pyrite concentrate.

Morning all The company yesterday submitted its responses to the additional information requested by SEPA, and the docs can be viewed on the Park's planning portal. I've not read them but will try and have a look later. There is a revised 'expiry date' of 14 November, which I presume is to give SEPA a chance to respond to the responses. If they are happy that should head off any debate around their objections at committee stage. All good. Decision deadline remains 14 December, still no date for the committee meeting. TLC7 thinks it might not go to committee, personally I'd be surprised but pleasantly so.

May still be some post-consolidation stuff going through. But yes one or two that look 'real' and I share your mystification. Mind you, we had people exercising their 1p options with the SP under .5p, so there's nowt so queer as SGZ shareholders, apparently:-)