First off , Merry Christmas .
While the Turkey is cooking I thought I would have a "quick" look back at what has happened in the year that was;
We had a significant resource upgrade with the M&I increasing 201% with the Gold grade increasing 9% to 14.3g/t
We received approval for 24/6 processing , previously 16/6
We had an extremely good BFS with some very enviable production costs £327 and some very high grades , ave LoM 11.8g/t Au Eq, with funding costs reduced to £18.5m with further reductions possible and savings of almost £1m due to currency changes
We also noticed the word development in our Quarterly cash reports and later found out that this was for SGZ France & SGZ Portugal
We also heard our CEO speak of Cononish 2,3 and 4 and of the realistic LOM extension possible at Cononish in Presentations made
We have seen the results of the Initial Structural survey which highlights 11 targets all in close proximity to Cononish
We raised money via a private placing supposedly to sophisticated investors but in my opinion it was just another bucket shop which dragged us down but that lesson was learned
We had a Rights issue which was oversubscribed when it included our oversees shareholders
So that was that and what is to come in 2016:
Well hopefully we will see news of funding in Q1
Which of the 11 targets will WE explore first
When will work begin at Cononish
When will we have news of our european expansion and will anyone join us
When will we some gold
What will be revealed at the Edinburgh Presentation
SGZ Price at posting:
1.3¢ Sentiment: Buy Disclosure: Held
