Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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SolGold confirms that a new NI 43-101 Technical Report will be developed as part of the ongoing Preliminary Feasibility Study ("PFS") and is expected to be filed by the end of December 2020. The PFS Technical Report will be based on MRE#3 which delivered the conversion of considerable tonnages into the Measured Resource category, plus the addition of 1.6 Mt Cu, 2.5 Moz Au, and 92.2 Moz Ag (not previously estimated) to Measured plus Indicated Mineral Resources. Revised Metallurgical Recovery data, a more refined development and mining plan, and increased gold price assumptions will also be embodied in the forthcoming PFS. SolGold will issue a press release notifying the public when the new 43-101 Technical Report is filed on SEDAR.
Hi Colonel, he did mention something about MRE3 last night, but I didn't pay much attention to it. I think he said that MRE3 would not be changed for the PFS, and I believe in an earlier webinar, he mentioned revised MRE3, going to be in SEDAR by year end.
Morning Ice,
agree with your current theory re - a JV.
One such company that did go it alone and smashed it, was Fortescue:
https://www.fmgl.com.au/about-fortescue/who-we-are
Interesting how the PFS has been 'delayed' until later.....will/would BHP make a statement before or after a PFS?
Failing this suspect JV announcement on the horizon (which I fully support), the PFS will not be ready before December methinks.
Z
Dart, I think it exceedingly unlikely they'd use those tactics. The market would know immediately they were on the prowl and move the sp up accordingly.
They'll get their hands on this either by way of an agreed deal or a hostile bid.
Last night Ingo intimated that NCM and BHP would not be happy with their mere 13% stakes in Solgold. NM has made it clear that he would not issue more shares other than to CGP shareholders. NCM have done nothing to date and BHP can't until 15th October, but after that there is nothing to stop BHP buying Solgold shares on the market to build up their share holding. If either company were to start doing that quietly, it would likely boost the share price. Is it a 30% holding which would trigger a bid by LSE rules? They would have to periodically declare an increased holding. Building up their stake could be done in readiness for a full bid if that is what they want to do. I am thinking primarily of BHP but it could apply to NCM as well. Any thoughts?
Frog
Quady, in the first instance it would indeed be a concert party (as defined in the Code) and one founded on the basis that BHP and NCM would run the company as a jv. It's got absolutely feck-all to do with NM 'ruling it out'. If they make a serious approach, he'll sit down and negotiate. If he refuses to do so, which I very much doubt, they'll go hostile and win.
So addicknt, what your suggesting is a concert party, not a JV, which NM has ruled out on every occasion, it's been brought up.
Yes I believe a concert party is possible, once we have a simplification of holding's within a diverse book.
But to be honest, not at this stage.
iceberg, you misunderstood my point.
I was referring to a potential jv to bid for SOLG. And no, it wouldn't necessarily require a hostile bid. BHP and NCM could reach an agreement as to how they wish to move forward and then approach NM with an offer. If NM does his job properly, he'll negotiate a good price and bingo! we're all happy.
Sorry addicknt, I am with Ice on this.
You mention a JV with someone else other than Solgold.
It would be hard enough for BHP to acquire a majority share of Solgold on the cheap.
Correct me if I am wrong, but you are now suggesting, that someone else will, and BHP, will sit back and let it happen, so that they can go into a JV with them.
I see you are getting a lot of recommended ticks for your posts on this theme.
I wonder how many, have thought about this in some depth, or is it a case of the lemmings are out in force today.
That last bit was a joke, for those of you with no sense of humor.
Although the market expected delays, to formally update the market all part of good governance. Especially when they've discussed it in a webinar... Eg I'm in the wrong time zone to watch the webinars and would have missed it if weren't discussed in this forum
Fair point Ice, you make a good point, about joint ventures, and I was not aware of those stats, and not sure I could check them that easily.
But we may be seeing a break in convention, as Solgold don't have to acquire Alapla, they own it. ( well 85% of it ).
So the question becomes, can they raise the money, to build it and go to construction.
Many on this chatroom, not so long ago, suggested that the Franco Nevada deal, would not be signed, because we had a deal in the background with BHP. This has been proved, not to be true.
Many on here, said that a company with no experience in building a mine, could not get the funding. I don't believe that to be true either, but we need to wait and see on that point.
After they get the money, people I suspect will say, yes they have the money, but lack the experience, so they can't build it. Some will continue to say that, after they buy in the skills required.
This is a civil engineering project, and like every other civil engineering project, will be successful, if planned correctly at the outset. Sure every project, gets bumps along the way, but the engineering teams, iron these out, produce TSB's ( technical service bulletins ) and continue, with the improved process.
In all, Solgolds ducks are lined up in a row. I believe Ingo last night, on the delays. I don't believe in conspiracy theories. Also I don't believe the market believes we will get a bid, never the less defend it, otherwise our share price would be higher.
Why on earth would SOLG agree to a JV without themselves? It's like building an expensive new house and then giving it away. The only way this would happen would be with a hostile takeover, if we have that, then I don't give a monkeys how Alpala is developed.
Sorry, I should have added that the jv will not include SOLG - why would it? BHP don't need us and nor would a Barrick/ NCM.
Quady, what SOLG have to say about a jv is pretty much irrelevant. It's whether BHP will enter into a jv in order to get their hands on the company and I regard it as quite possible.
I agree quady, but the evidence is in the history. Of the 30-50 tier 1 mines in operation 95% are JV. No Tier 1 has been developed by a none major, without a JV in the last 20-30 years. I am happy to be proven wrong, but if I am it will only be an isolated 1 or 2, with very specific circumstances.
As i say its just my opinion and is no more or less valid than others, but the evidence stacks up.
Morning Ice, the only problem with that statement, is that, every time a JV has been mentioned, Solgold have always ruled it out, as too costly, in time and money, and difficult to manage.
We have no indication, that they have changed their mind.
ice -
thanks and reassuring for a nervous type of investor like myself. I like your reasoning. It makes perfect sense.appreciated
Why inform the market now that the PFS will be late?
The market clearly expected it to be late, and its nice for the company to keep everybody informed, but do we really believe that this is just about keeping the market informed?
I agree this is just my musing, but before a company releases really good news, they like to ensure that nothing will drag it down or distract from the good news.
Could SOLG be clearing the bad news desk?
If you got some XRF results that showed some amazing core samples, If it were me, I would put the PFS to bed, then hit them very hard with the news, not in one go, maybe some results now, some next week and some the week after.
Not to brag but given what he said last night, regional results landing thurs/friday/monday would be nearly to the day that I have consistently predicted.
Just my opinion but the they will show a larger, higher quality, more profitable copper/gold deposit than the Alpala, which is itself the worlds number 1, tier 1, none major owned copper/gold desposit.
Also, again i could be wrong but SOLG has run of time to hold the AGM prior BHP's standstill ending. (A minimum amount of days notice is required by TSX and LSE). It would be the height of stupidity to do this without a further agreement with BHP in the works. My guess is that a deal with BHP (Not for the company, but JV will be announced prior the CGP deadline, which will tie in BHP and prevent them from increasing their stake). This would be a death kneel for CGP.
anyway, not long to go for this to be proven right or wrong!