Companies like Scotgold (SGZ) pay Proactive to record soft interviews and so anyone engaged in this process is part of a bent and corrupt bastard child of journalism. This is PR dressed up as reporting. I have seen some rotten Proactive blow-offs in my time but today’s effort from Katie Pilbeam on Scotgold is the worst ever. She makes Justin the Clown look like Jeremy Paxman in his prime. Watch and cringe. It is so bad it is actually truly enjoyable, you really will laugh out loud.
I have never been a fan of this dog from the AIM Casino kennels as my scathing coverage on this website demonstrates. But now a shareholder appears to show that Scotgold Resources (SGZ) has committed market abuse. I'd go further, I believe that it has deceived investors on an industrial scale as to its cash needs, ahead of an equity refinancing. After publication of the company's annual report the shareholder has written to regulators flagging up the issue. I will now be contacting regulators and also the company's shameless and disgraced Nomad SP Angel of MySquar and BlueJay Mining infamy, to pursue this matter. The shareholder, Mr C, writes:
If you want me to analyse a stock for you just drop me a line at email@example.com - Today I look at shares in Amara Mining (AMA), Scotgold Resources (SGZ), Tyratech (TYRU) and setting share price targets for all three stocks
Scottish gold and silver play Scotgold Resources (SGZ) has welcomed a bankable feasibility report suggesting its flagship Cononish project in the Loch Lomond National Park could have a net present value of £23 million, with a potential internal rate of return of 45%. The company, whose chairman since March and 40% shareholder is Nat le Roux, onetime boss of financial derivatives and spread betting giant IG Group, believes the report, by Bara Consulting, ‘provides a very solid base for our ongoing discussions with potential project finance providers,’ according to chief executive Richard Gray, a former operations chief at Avocet Mining.
A 201% increase in AIM-quoted Scotgold (SGZ)’s formal measured and indicated gold resource at Cononish in north-east Scotland’s Grampian Highlands, combined with a new mining plan for the project, has not impressed the stockmarket much, but chief executive Richard Gray suggests its prospects could now be transformed. He argues the new, confidently categorised 248,000-oz. resource, with an average grade up 9% to a robust 14.3 grammes of gold per tonne of ore, should make it easier to finance the project, three years after a previous tempt to launch it came to nothing.
While Scotgold Resources (SGZ) presses on with its projects for extracting gold and silver at Cononish and other deposits in the Argyle region, AIM investors might soon have the opportunity to speculate on another Scottish gold digger. Dr. Paul Dougan, a lawyer and scientist in the resources field, is currently seeking to raise £2 million at 25p in a pre-float funding for Scotia Exploration, whose stated ambition is to be ‘in full production of gold from the southern uplands of Scotland in the third quarter of 2016’.
Scotgold Resources (SGZ), the bombed-out AIM concern with ambitions to mine ‘Scottish’ gold and silver at Cononish in the West Grampian region, is overhauling its strategy. Nat Le Roux, former boss of the £2.4 billion spread-betting specialist IG Group, and two associates have put £1.1 million into its coffers. That should enable the company to proceed, at last, to develop the project, which it reckons holds at least 160,000 oz. After a series of daunting setbacks, Scotgold will present Le Roux and other investors with a fresh evaluation of the project in the second or third quarter of this year.
I approve of AIM companies doing rights issues rather than discounted placings to City insiders. But not when the company in question is, to use the technical term, fucked. That brings me to dual listed Scotgold (SGZ) which, I have noted before on this website, is a total POS.
It is less than four weeks ago when I highlighted the tale of woe at AIM Cesspit listed Scotgold (SGZ) with the shares then at 1.625p. I note that the shares are now quoted at 1p-1.5p so I guess things are not looking up for this dual listed POS Company. But it will get worse.
The history of Australian companies seeking a dual listing on AIM is not a happy one. With a vibrant mining sector in the land founded as a penal company, as a rule good companies have no need to travel to London to tap up British investors via the AIM cesspit.
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