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SP started the week positively but has given up the small recovery :(
Nice to see Gold Price recover after the dip below $1800 last week, back up to $1839 currently.
GLA
Blue start to the week...
Let's see how the SP performs this week, hoping last week was the low, sneaked a few more nibbles along the way, in the hope the bad news has now been priced in!
GLA
Thanks Eck71, blue it was today.
Anyone with L2 - if you could please share how the MMs are lined up.
LSE is teasing me....earlier 80/82 yet showing SP 85.5....now 82/84 and SP 83....are we really blue today?
Will find out over the coming month(s) if this was indeed a half-price sale, back to SGZzzzzzzzz
GLA
Able to buy now so went for a bigger nibble 12,196 shares @81.5p
GLA
Is it just me...NT to buy just £2k worth?
Oh and I should add, that middle of last year when these were languishing at 66p, I tried for a couple of days and could not get even a few £k worth, the buggers moved it up to 75 ish pretty quickly, feeling I had missed the boat moved into Eris, then saw SGZ ascend to 100p, was upset at the time and then when I saw 160p, I removed it from my watchlist.
So to see it back in the low 80's (I do understand it has retraced significantly for many reasons) I just have to take a nibble...and then have to be prepared to hold for months, buy on the dips will be my strategy, as they do have gold and will produce eventually!
GLA
Many thanks TyndrumBoy1872 for that information and pointing me in the right direction.
For my own calculation and expectations, I always tend to expect the lower end of the output and annual profit figures, just as not to be disappointed and if they beat them, then that is a bonus.
Right now, with the delays due to snags already reported, have to reign in expectations. Once they sort them out, confidence will slowly return and then looking at reported production and profits will be able to better forecast, going forward.
Definitely on my watchlist and will take a small amount soon, since I feel alot of the bad news has been priced in, if they sort out the snags and get producing they could be a £100M MC within a year, so a one-bagger is a decent return. Alternatively, will they be this current £45M MC in a year, not if they pull their finger out and start producing, so the current price has got me interested.
GL
Many thanks for that Rockhead....
I have been going through the recent RNS, noted that there was a £3M placing at 110p, some extra funds to bring phase 2 forward. That brought the SP down pretty quickly from the high of 160p.
The disappointment of the last RNS a real kick in the teeth, basically everyone is very upset as they should have been producing gold now...am wondering if this delay is great opportunity to buy a few for the longer term though...
Watched a couple of videos and read a few more reports...gained some more insight...especially that they have an AISC of £500/oz....plus scottish gold commands a premium of upto 30% to gold spot price.....
So when they finally start producing they will be generating the following...(back of fag pack calcs)...
Low end
Phase 1 producing 8000 oz annually at £850/oz profit....annual profit £6.8M
Phase 2 (which starts around 17 months after phase 1) producing 23,500 oz annually at £850/oz profit....annual profit £20M
High end (scottish gold premium price)
Phase 1 producing 8000 oz annually at £1250/oz profit....annual profit £10M
Phase 2 (which starts around 17 months after phase 1) producing 23,500 oz annually at £1250/oz profit....annual profit £29.4M
If and when they get things sorted, potentially
very attractive numbers indeed...and a substantial re-rate...
Confidence will return once they start producing...then should get interesting very fast....
I am wondering at what price this will become too cheap and the time frame...
will look to take a nibble soon though as the price / MC is enticing I have to say...let's see how this unfolds, sort out the snags first!
GLA
What's going on here, I remember these were 160p....nearly half that price...did the gold evaporate....appreciate any summary....and links to recent videos by the company.
Thanks in advance.
*Environmental Permit
Yes loads of positives however, was hoping mining permit announcement by today, so they would be aligned with gold production expected in Q1 2021.
Is this early signs of a chart breakout?
NT to buy
Harry,
Just saw your message but thanks goes to Caribs who replied to you.
I would strongly encourage potential investors to read the recent 2 broker/research notes on the company website.
Coupled with the 2 RNS 27 & 29 July regarding additional discoveries and this all looks great.
Not to mention the term sheet, lots of cash in the bank and a not too shabby current POG ;)
All bodes well, accumulation on the dips a sound strategy IMHO.
That's enough posts from me, such a quiet BB, I standout like a ramper.
DYOR & GLA
Hi Caribs,
Bought in earlier this week, sub 10p looks a great entry price.
Just looked on their website and as of 31 Dec 2020, 68% of shares in issue are tightly held. Doesn't leave alot of free float and BSB must have a fair few!
GLA
FOTF