Member Info for Eck71

Interestingly 'very nice, very nice indeed' is something I rarely hear Mrs Eck say. Anyway, contrary to reports of its demise, that Scottish Gold story seems to be very much alive. Most encouraging.

As Mrs Eck is wont to say, with a little sadness in her eyes. https://twitter.com/grahamscotgold/status/917830519055826944

Humongous order being filled on behalf of people who've had the SP walked down to a record low? Just one speculative thought... Anyway nice to have the Trappist vow broken briefly! All the best Eck

Hi Rock, well yes, someone should like it! I don't have your geo background but interesting you reckon Cononish is a simpler - not just a smaller - proposition than Curraghinalt. Interesting they're using dry stack tailings too - there's clearly been cross-pollination of ideas. I find DALR's recent progress massively encouraging for SGZ. The 10s of �ms being ploughed in by the big players should have a halo effect and give whichever funders we are talking to more confidencein SGZ. I think part of the problem has literally been wariness of this weird thing called commercial gold mining in the UK. Also, never mind the silly spread, it's a blue day - rejoice!

DALR Curraghinalt Project: Net Present Value (�NPV�) of �228 million after tax (at a 5% discount rate) and Internal Rate of Return (�IRR�) of 24.4% after tax, at an assumed gold price of $1,250/ounce Current market cap of DALR: �233m, 102% of NPV of their major project. SGZ Cononish Project: Net Present Value (�NPV�) of �36 million after tax (at a 10% discount rate) and Internal Rate of Return (�IRR�) of 75% after tax, at an assumed gold price of $1,213/ounce Current market cap of SGZ: �4.2m, 12% of NPV of their major project. Using a higher discount rate and a lower gold price assumption. Curraghinalt shares many characteristics with Cononish, albeit on a larger scale (though Curraghinalt's description as 'a lode gold system consisting of a series of structurally controlled, high-grade gold bearing quartz-carbonate veins' is very likely to reflect the nature of the connected deposits around Cononish). It does not yet have planning permission and it requires �145m of upfront capital. And yet the company's value already reflects (and more) the value of its project. If Scotgold were in a similar position our SP would be over �2. So what's the difference? Our BFS fundamentals are better, including a payback period of 2 years not 4. Scale, obviously, and our CEO has said that we are too small to attract the interest of some of the big players like Blackrock and Orion who have taken substantial stakes in DALR. So pre-production, we have not had the financial backing that a) funds quicker progress towards production and b) creates a virtuous circle of confidence in the market. But still, the differential in valuation is huge. Genuine question - does anyone have a view on why this is, other than just general market confidence/ennui?

RNS today. Quote from Osisko CEO:"We are very pleased to participate in the advancement of one of the world's top undeveloped gold projects in a new emerging gold district." Scotgold's Grampian licences are also in that district. This is all positive for Cononish project finance. Dalradian to receive C$84.75 million through Private Placement and Warrant Exercise TORONTO, ONTARIO--(Marketwired - Oct. 10, 2017) - NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES Dalradian Resources Inc. (TSX:DNA)(AIM:DALR) ("Dalradian" or the "Company") is pleased to announce that it has entered into subscription agreements with each of Orion Mine Finance II LP ("Orion") and Osisko Gold Royalties Ltd ("Osisko") pursuant to which Orion will make an investment of C$50 million and Osisko will make an investment of C$28.25 million into the Company by way of a non-brokered private placement, for gross proceeds of C$78.25 million (the "Private Placement"). In addition, Osisko plans to exercise 6.25 million warrants at $1.04 later today, bringing the total funding to approximately C$84.75 million (approximately �51 million). Pursuant to the Private Placement, Orion will acquire 34,013,605 common shares of Dalradian (the "Common Shares") and Osisko will acquire 19,217,687 Common Shares, each at a price of C$1.47 per Common Share (the "Issue Price"). The Issue Price represents a 7% premium to the closing price of the Common Shares on the Toronto Stock Exchange on October 6, 2017. The Company intends to use the proceeds of the Private Placement for general working capital purposes. Upon closing of the Private Placement, Orion will own approximately 9.75% of Dalradian's issued and outstanding common shares and Osisko will own approximately 9.1% of Dalradian's issued and outstanding common shares, in each case after giving effect to the warrant exercise by Osisko. Patrick F.N. Anderson, Dalradian's CEO, commented, "This is a strong vote of confidence in both the Curraghinalt Gold Project and in Northern Ireland as an investment destination by two highly respected mining finance groups. Today's placement, together with all recent warrant exercises, will provide the company with additional equity funding in excess of C$110 million. This means that the company is now well-funded to move Curraghinalt through permitting, while continuing to expand and improve the value of the project through further investment in exploration and engineering." Michael Barton, Portfolio Manager at Orion Resource Partners said, "Orion is delighted to become a meaningful investor in one of the most exciting undeveloped gold deposits globally. We look forward to working with Dalradian as Curraghinalt moves through permitting and into construction." Sean Roosen, Chairman and CEO of Osisko said, "We are very please

Looks like a great bit of kit. It was interesting to meet a couple of the Dalradian geologists on one of my visits to the mine. They were making positive noises about the Cononish geology - in particular the 'mineability' of the rock, ie strong and stable, to coin a phrase. I don't know, but I suspect there's a fair bit of dialogue and technical information exchange between Scotgold and Dalradian. Although on the face of it they are a larger 'competitor', the closer they get to establishing a Northern Irish gold mining industry (in what is the same geological system as Cononish etc), the more realistic and investable Scotgold looks as the instigator of a Scottish gold mining industry.

Please show your working. Actually no, please just stop.

Like I said, I can't at this point, so it's academic for me. If I could, I'd be looking at the company's market cap today of �4.22m and weighing the uncertainties ahead - planning (relatively low level of uncertainty) and finance (relatively high level of uncertainty) - with the following: Ag measured and indicated resources 248,000 oz Gold price today �970/oz All in LOM cost for phased project �487/oz Those are some compelling fundamentals. LTHs may be horribly under water right now but you can't look at those numbers and think 'what a bunch of deluded dreamers'. Apart from the 2022 options, there are no other share options now outstanding. There is of course a �1m loan to be repaid, potential interim financing and unknown dilution from Cononish project financing. There is also potential resource/life of mine extension and a significant project pipeline in Scotland and elsewhere to be developed once Cononish is under way. Plus much pre-production work done re assay trail, production routes, commercial partnerships etc etc. So yes, there remain significant uncertainties and SGZ remains a punt until those are dealt with. But �4.22m? Honestly?

Morning Rock. There are certainly some 'interesting' things happen in the SGZ market. Taking the 'buys' and 'sells' at face value and ignoring the midpoint trade, I make that 206k buys vs 88k sells (rounded up to nearest 1k) since last Friday's RNS, accompanied by a 25% drop in the SP. So it's not as though it can't catch a bid, but the merest whiff of a slightly sell and down it goes again. IMHO we are at the bottom barring unexpected developments. An opinion reinforced by Baz taking his leave. Job done? I'd encourage anyone convinced by the 'genial boolin grandad' persona to note that on 30 November last year he accidentally included in a post a list of ticker symbols with negative commentary against each one. He almost immediately had the post removed, subsequently denied its contents and to my eternal regret I didn't screenshot it. But for me it did rather raise questions about motive. All IMHO of course :-) Still awaiting a planning committee date. SEPA have objected though only on a couple of points of environmental detail which don't look problematic to resolve, but I'd be surprised if the decision didn't go to committee. Have fun topping up boys and girls. I would if I could but I can't! Eck

My 1p options. 'Jam tomorrow', that was your catchphrase. Ah, the sweet future we imagined As we forked out for yet more shares At market value, with only you to tempt us. But now you are gone - Vanished in the Tyndrum mists Like elusive galena concentrate. And all that's left of the jam Is some mouldy scrapings Clinging to the side Of a half empty jar. E J Eck, aged 6 years older than when he first heard of Scotgold, though it feels like much more.

Afternoon all. Agree with the entirety of your last post Rockhead. A couple of planning dates to keep in mind. Tomorrow is the 'Expiry Date' which I take to mean the deadline for the submission of responses within the consultation period, unless anyone knows to the contrary? It's been 10 days since the last submission so it looks everyone's got their two penn'orth in now. The Determination Deadline is 14 December, so sometime between 2 Oct and 14 Dec we will get a meeting and a decision. Look out for the 'Actual Committee Date' appearing on the Park planning website at the link below: http://eplanning.lochlomond-trossachs.org/OnlinePlanning/applicationDetails.do?activeTab=dates&keyVal=OUGPJJSIK3600 It's probably too much to hope for an October meeting, but November should be possible. Watch that space! GLA

Hi Rock, interesting re GreenOre. If they get their skates on they might be producing before Scotgold! It'll be hard to avoid increasing levels of teeth-grinding as finance/planning gets potentially closer. Looking for third time lucky for me and many on here - April 2013, all ready to go after endless drilling and the gold price goes phut: winter 2015 armed with a doubled resource estimate and still no takers for a >£24m project: will it finally come right with the gold price at £900-£1000 and 'only' £8.4m needed to get going? I think the BoD have done an excellent job in formulating a revised, pragmatic approach to get into production, even if the timescales have become slightly elongated. But some of the comms have not been great - overpromising on timelines in particular. My understanding is that they now want to underpromise and overdeliver - which is great, but the months of near-silence that go by don't exactly inspire market confidence, and so the SP slips ever lower. My glass half full outlook continues to make me suspect that the lack of robust attempts to support the SP mean we are looking at debt-heavy project finance options. But that's just IMHO and maybe I'm being naïve...

This is boring. Come on Scotgold, give us something. Anything. Richard Gray's thoughts on this year's Turner Prize shortlist. Chris Sangster's considered opinion on salt n sauce vs salt n vinegar with chips. An update on the digestive regularity of Nat le Roux's budgie. Eh Knee Thin.

Hi littlemurph Yes, and I'm suspicious of quite a few of the alleged 'sells' from Friday, Monday and Tuesday. Generally I don't have much time for the tinfoil hat MM manipulation theories, particularly in a share like this where the volume is so tiny most of the time that I can't believe it would be worth the MM's effort. But sometimes there's a clear effort to pull the plug on the SP and put the frighteners on when news is expected/overdue. Feels like that now. Not much of a free float so if you scare some holders into capitulating and pick up some shares on the cheap prior to news (even if that news is a not particularly exciting but vaguely reassuring annual report) then why wouldn't you? GLA.

Well someone thinks it's worth £3,400 of their money at 34p. I'm finding today's SP drop (intensifying the slower erosion over recent days) quite heartening. There's no reason for it, tiny volume, no significant selling pressure. Gold has corrected back down to slightly below $1300 and sterling's move upwards has magnified that, but that's not particularly dramatic or unexpected. This is tree-shaking into the news void IMHO and it may well continue until that void is filled. Here's a reminder from the Activities update of 30 March: "Several longer term project funding proposals are currently under review." Time we learned a little more about those I think.

Hi Rock, yes indeed. As night follows day.

I wonder whether we'll get any announcement at all about the stock options in the next 10 days, other than a 'time's up' announcement on 2/10? Given the options were the principal/only carrot for the 2015 rights issue, it would certainly be a nice gesture to Scotgold's largely bombed-out shareholders if they extended the exercise period. It would also give a sense that there might be something for the market to look forward to (despite the implied dilution). I'm not holding my breath. Anyone want to guess when they think the Annual Report will drop? For which, by the way, I have no particular expectations other than tying up a few BPT loose ends and information gaps.

Well for once I would have to agree with you, not that I think it's a remotely likely scenario.

Scotgold don't *have* to produce an annual report until the end of December.