Member Info for Eck71

Hi Tim/Uncle Bob

This interview with the CEO would be a good place to start:

https://www.proactiveinvestors.co.uk/companies/news/935500/scotgold-resources-says--all-the-work-has-paid-off--after-celebrating-first-gold-pour-at-cononish-935500.html

And the most recent broker note also gives a good summary:

https://www.hardmanandco.com/wp-content/uploads/2020/11/Mining-Forum-research-Scotgold.pdf

Ore is stockpiled, first (modest) gold pour was on Monday, the plant is in situ and undergoing testing/commissioning in advance of full Phase 1 production early in the New Year.

Exploration of other nearby targets ongoing as well as potential for major extensions to the Cononish resource. The exploration report from September makes interesting reading.

25% of production designated Scottish Gold and agreements in place with two jewellers initially to take it at >30% premium to spot price.

Cononish - including accelerated Phase 2 rampup - and 2021 exploration programme fully funded, around 2/3 of stock owned by directors or those closely associated with directors.

So lots going on, and lots of news to look forward to as Scotgold’s product starts to come to market in early 2021.

yayay, there’s every chance of 135-40 within the next 3 months. The exploration stuff is just nice additional news flow to look forward to. It’s all about getting Cononish into full production now, and that’s a question of weeks/a few months, not years. There’ll be tweets and photos and documentaries to keep the interest going in the meantime. Stay positive, we all enjoy your contributions on here, and keep us entertained with a few more tales from the village...

Thanks RH, greatly appreciate your thoughts.

dyresearch, Rockhead is a retired geo and notably sensible poster on here (ie not a ramper). So when he says there is potential to double the resource (no guarantees of course) it's worth paying attention. Enough upside for you?

Have a good weekend all. It's been an...interesting week.

I don't recall any specific date. It was results awaited 'in due course' for samples already collected and at the lab two months ago, so you'd have to think they are imminent now.

BP, it's worth comparing the upper end of the Au background values for Inverchorachan with those for Cononish and Beinn Udlaidh. Inverchorachan's values for the core resource area appear to be multiples higher than those for either of the others.

The geologist on here might be able to comment on the extent to which it's possible to anticipate from that comparison potential grades for Inverchorachan given Cononish's already world-leading 11.8g/t. More work required undoubtedly (ie drilling), but it looks exciting, to say the least.

BP, same answer as for dyresearch. Read the September exploration update which gives a very clear visualisation and narrative of what sampling results we are awaiting from Inverchorachan and Beinn Udlaidh. What I'd *really* like to see is that rectangle on the south side of Beinn Udlaidh filled in, but we will probably have to wait until the Spring for that:

https://www.scotgoldresources.com/wp-content/uploads/2020/09/ExplorationUpdate_PressRelease_Sept20-FINAL-PDF-VERSION-28-09-2020.pdf

dyresearch, the answer to your question is yes. A good start would be the September exploration update here: https://www.scotgoldresources.com/wp-content/uploads/2020/09/ExplorationUpdate_PressRelease_Sept20-FINAL-PDF-VERSION-28-09-2020.pdf

Re Cononish, variations of the following are repeated in multiple resource updates, annual reports etc over the last few years:

"The Cononish mineralisation remains open at depth down plunge and to the west along strike. There is therefore potential to add to the resource by further extensional drilling."

And the RNS today was actually a great vote of confidence by Hetherington as Samson suggests. And yes Rockhead, you are right to point out what you have just pointed out. Thanks for being one of the very few vaguely sensible posters on here.

And LSE not showing the trades after 4pm at full or near full ask. We are 6% down on Friday and it looks like most of the 'sell the news' selling is done, along with the placing flippers, some of whom may well have started to take a 'return of capital' view this week.

*Everyone* knows the news gets sold with these AIM shares, though I confess I had expected a run-up into Monday, then a sell-off. In the event there was no run-up post the September spike, and we have had only a modest sell-off.

The pour was disappointing, no question, but there's nothing sinister about it. There was no promise to be running at full steam by 30 Nov, but they were clearly under (self-imposed) time pressure and I'm sure they would have preferred to have poured more, with better imagery to share.

I have no doubt we'll see more of that over the coming weeks as the plant is coaxed into full operation, including flotation which RG was quite open in saying is not yet installed. Gold going out the door, jewellers announcing delivery, etc etc

As someone said, it's not like you just press a button with this stuff. There is newsflow to come as the commissioning proceeds, exploration test results pending etc. The expected selling wave has run its course, the damage is limited, all is on track. Relax, have a glass of TG or whatever, and enjoy the coming weeks.

Yes I am slightly over my hissy fit.

If anyone cares to read the RNS properly, he’s obviously just doing some (presumably tax-efficient) re-organisation of assets into an alternative vehicle. He’s selling to himself, effectively. Relax.

Did you mean to do 5 trades of 1, 2, 3, 4, 5 shares? I think you did 2 of 2 by accident ;-)

Hope you enjoyed your Edale walk. About 3 decades ago I did Edale to Marsden in February. Was quite a day. By the time we got to the top of Black Hill freezing fog and darkness had descended, which made navigating off the top a bit interesting. We finally burst into the pub in Marsden completely knackered after 12 hours on the hoof. Couldn't work out why the locals were giving us quite such odd stares until we realised we were completely hoar-frosted - we looked like a couple of half-dead yetis. "You've walked from EDALE??? Why the !"£$ would you want to do that??" Happy days.

Thank you for your service Bellers.

I think the real problem here is the dodgy weather over the last few weeks, preventing much lawn maintenance. Outlook (in NE Fife anyway) much better after the weekend. It seems ridiculous to be mowing the lawn in November, but looking at mine I think I can probably justify one last trundle, if only to hoover up the leaves. One the basis of this morning's SP action I suggest you all consider doing the same!

And there they are. Well that’s 10% or so of the flippable placing shares out of the way just today, and the SP effectively unchanged, so I suppose if you’re feeling glass half full that’s a positive.

and hardly any sells but ask apparently continuing to slowly subside from the morning high. The blues look like real buys - maybe a chunky sell order being filled in the background? In which case this is a case of the placing creating shot-term drag on the SP, with participants in the placing looking to trade out for a quick 10-20% profit as the price climbs. Annoying.

On the subject of the placing, I'm not going to pile into SP Angel as I think they've done a good job of getting the story out there over the last year, but it's a bit rich them coming out with a new target price of 182p and saying the stock is 'undervalued'. Remind me who was handling the placing at 110p?! Obviously I agree with the target price :-)

Think the LSE gearbox could do with a bit of oil. Shambolic today even by recent standards. The current real bid is c. 123 and ask c. 124.

Commissioning imminent...

https://twitter.com/scotgoldresltd/status/1320672259275710464

Jeez you’re tiresome. Filtered.

Lenin, under Level 4 of the new Scottish framework - the highest and the closest to ‘full’ lockdown, the following workplaces are permitted to continue operations: essential services; outdoor workplaces; construction; manufacturing. All assuming appropriate public health measures of course.

So there is close to zero risk of Scotgold operations being closed down as a result of lockdown measures. There is of course always some risk of infection amongst workers which could impact operations, but I expect the boys and girls up the glen feel quite well-ventilated, so hopefully that risk is not high.

Best wishes
Eck71