Member Info for yayay

That is a very good way of putting it, Samson. Ten years many of us waited, progress being made at a pace which made the average snail look like Usain Bolt. But at least it was incremental progress, however slow. Now, on a daily basis, we almost don't know whether to expect spectacular success or total collapse.

Hi Prospector, Yes, don't worry, I know how to be patient. Anyone who's been in SGZ since 2010 knows patience, LOL! My comment was really underlining that, since many people's patience seems to evaporate between 8.00 and 4.30.

I've only been here a few months. I appreciate that any significant re-rating of this share require news. But, forgive me for asking, Does this share ever have any two consecutive days in the same colour? From the little time I've been here, I think this is more of a traders' share than I have ever seen. It would seem there is never any sustained movement - in either direction!

The timescales of AIM company "behind the scenes" negotiations always amuse me. From the assassination of Franz Ferdinand to the outbreak of WWI took exactly one month :)

Samson, I commend you on a post that so cogently sums up my own position and thoughts that I could not have expressed them better myself. Although, as I have said before, you and I come from totally different professional backgrounds, our experience of SGZ has been, and is, identical. Like you, I have loyally supported every public fundraising over the years, and I have sat out the seemingly interminable periods when we have been at the mercy of "external factors", such as the glacially-slow planning process. And it is in the context of the latter that I would add just one thing to your post. You rightly talk of the destruction of credibility with the market and of the trust amongst small investors like you and I. But what damage, in terms of credibility and trust, has this fiasco caused amongst the community? If we are to expand operations we will, in the future, need to go back to the National Park. Could they be feeling that their trust has been betrayed and their reputation amongst the eco-freakos harmed by association? And I can just imagine the more extreme foamings of the latter band of warriors... "You ripped up our wilderness, for WHAT?!"

Hello R, I note your remark about joining me, amongst others, in a 'last roll of the dice' here. Unlike yourself, I never had the wisdom to sell and buy back over the past years. I have just held and held, and occasionally topped up. So for most of the past ten years I have been in the red, when my top ups have been torpedoed by the raft of setbacks. Briefly I have been in profit. And for a few wonderful hours last autumn I was magnificently in profit. Again unlike yourself, I did not have the nous to sell at that moment. I averaged up, in the belief that our sunlit uplands had at long, long last been attained, we had received our reward for ten years or more of waiting through thick and thin, and that we would go on to greater heights even. And so, after all this time, I am as well in the red as I have ever been. But it is not the financial loss by itself which makes me sad. It is the expectation that this is the end of us as a band of oddballs, who have stuck together through all the trials and tribulations. This has been a wonderful adventure, however frustrating, exasperating and, for many of us now, financially depriving. We have genuinely believed that we were part of the establishment of a 'significant Scottish goldmining industry'. It has been an emotional commitment. Unwise, stupid even, for an investor. This is not how you should be. But we have been. And it has been a wrap-around blanket of consolation, reassurance and (rarely) congratulation, being part of this board. The camaraderie here has been matchless. The courtesy and good manners, with hardly any exceptions over an entire decade, unique. Dare I say it, that we have been 'friends'. So it is with overwhelming sadness that I fear the adventure may be over, that ultimately we will have to look to our individual best interests, that we will have to roll the dice one last time. And that we will all disperse and disappear over the horizon (maybe on the back of Champion), and that SGZ becomes nothing more than the plaything of the day traders.

Me too, fotf. Ten years ago I waited for Xcite Resources. " Totally de-risked", "The largest oil reserves ever known in the history of Mankind". Apparently. Probably like yourself, I have never yet experienced an AIM company which has actually come good.

"nobody believes anything they tell us". Follows straight on from my comment about understandable reluctance to subscribe to a placing, baz. The reputational damage done over the last six month is going to take a long time to repair. I don't know so much about RG's pompous declaration about "A landmark day". I think Franklin Roosevelt's famous quotation is a bit nearer the mark.

"another raising..maybe??"

I cannot imagine anyone in their right mind subscribing to an SGZ placing :)

There are still quite a few around here, I believe, who bought at £6, HH. You may be one of those yourself. As Blakeney says, it's been a very long haul with very little light amongst the gloom. I think you and I are now saying the same thing about fickle sentiment. This share has not repaid LTHs who kept faith with the notion of a 'significant Scottish industry'. I suspect they will evaporate as soon as they can cut their losses to a less-than-nightmarish level, and leave the company to the major shareholders and the traders.

The couple of problems with your silver lining, of course, BlakeneyP, are: 1) We've now got to see nearly 100% rise to get back to 90p; and 2) There's the old adage about 'Once bitten...' By which I mean that this could become a highly volatile 'traders' share. Knowing what's happened in the past with SGZ, will any 'investor' want to hang around long enough to see the value of their holding decimated after just a few days?

Goodness, BlakeneyP, you couldn't concoct a more disastrous headline than that, could you?

Absolutely, baz. As I said yesterday, you, I and Rockhead have given away the fact that we are all the same age -72. Which means that by 2025 we'll be 77. As I've said before, I didn't invest in SGZ in order that my executors could sell my holding.

Yes, Morar, you say about 'alarmist', well of course the company is now hoist by its own petard by bringing out an RNS at the end of the month, every month, whether or not there is any real need to, even from a regulatory point of view. It's like a baker opening his oven and customers recoiling at the half-risen dollop which, given another half-hour, would have been a gorgeous-smelling, tempting loaf.

I tend to agree. I think the reason NLR's pledge wasn't repeated yesterday is that the £500k will need to be augmented by other elements of a financing package. For one thing, the wording yesterday was 'directors' in the plural. But you have to ask, How much longer is NLR going to go on pumping money into this? Even he, surely, doesn't have bottomless pockets. And in what timeframe is he really looking for a return?

In yesterday's RNS it said "... the Company is investigating financing options, including short-term debt financing from the Directors".

But it had already been affirmed in the previous RNS, on 31st March, that "... Bridge Barn Limited, a company owned and controlled by Mr Nathaniel ("Nat") le Roux, the Chairman of Scotgold, will provide additional debt funding of £500,000, if further funding is required by the Company".

So if that had been reiterated for certain yesterday it might have gone some way to quelling the jitters. I think this confirmation needs to be communicated soon.

Possibly a bit more than that, baz. Someone else pointed out after the last RNS - let alone this one - that there could be a case for culpability in misleading the markets. Why else would investors who are presumably of a more sophisticated ilk than ourselves have stomped up for placings, both of which - especially the one at 110 - are now well sunk?

That following the pattern of the past six months, the company can only release another two-and-a-half RNSs before the sp drops to zero?

You and me both, R. The three of us are the same age, it seems - you, me and baz. Don't know about you, but I really do see the North Face of the Eiger from here. To think, all those 18 months I battled with Barclays to get my 40p Options, and it looks like I could end up underwater on them after all that effort.

I raised this in passing after the last disappointing RNS. We focus on the directors and on ourselves as small PIs. But what about our customers? How much longer are they expected to keep the faith, setback after setback after setback? It's not easy to manufacture jewellery from premium Scottish gold if there is no premium Scottsh gold.