Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Didn’t someone mention that we mentioned how much cash we had in this weeks RNS??
BKN - chill sunshine. Calm down.
There is an ongoing discussion about the FNV deal, OK.
Nothing more, nothing less. People are even signing off on their posts by re-iterating that SOLG is still good news and wonderful and will be OK.................eventually. So don't worry yourself about that...no-on'es going to take your baby away.
Let people discuss what they want to discuss...without childish comments like that.
Pay attention to what L2 (I think was saying earlier) let's all ride along politely during these next 58/70 days, shall we?
Or are you hell bent on stirring it up ...
NM has admitted the SP is suffering and no-where near the current NPV. He knows that a sign off for this dosh will impact the SP positively - giving MM's confidence in what he is trying to achieve. Each day/week/month this deal is not signed off - means the stock continues to flop c o c k around and wallow in its own self pity. NM must be mildly peeved it isn't a done deal, to say the least.
This delay is NOT a good sign.
And while we sit here theorising, silver has just hit $28/oz... Which is just another little cherry on top of the gold and copper cake.
"Everybody panic - we're in a mess - we're desperate - the co's gonna go under - the resource is rubbish - ecuador is no good - cornerstone are gonna do us over - NCM aint happy - BHP aint happy [yet there's no evidence of this whatsoever just hearsay"
Oh behave yourself...........
yes there are risks - yes there are no guarantees - but we know this.........we aint stoopid - but certainly dont need to be panicking cuz we're desperate - we are an exlporer and have to raise funds until or if we become a producer with an income - its NOT new news - its how the explorers business model works..........so please stop it Zoros - you're fooling nobody!!!
atb
BN.c
Ah I see Quady :)
Hi zoros, isn't that what the bridge loan is for? To keep things going until the DD is finished and the full funding is released to progress next stage? In the meantime PFS is ongoing and no one expects any major disruption until Oct at the earliest. Solg also has money in the bank from the regent share issue.
Zoros, that's where the $40m equity raise came in. Correction: SOLG deperately needed (past tense) the money and were at FN's mercy prior to the raise. Post raise, SOLG are no longer desperate. As I said recently, NM is conserving cash currently - he's not going full bore on the drilling and all of the expensive bits of the PFS are done already. Boubt they are burning much more than about $3m/month.
Hi rcgl2, I am on about, all roads lead to a takeover, it was sarcasm, hence the ARRRGGGGHHH.
If this deal doesn't go ahead, the SP will suffer badly!
RCL: I disagree - this isn't just something that FN will fit into their diary when convenient. SOLG needs this money ASAP. It is relying on it to move to the next stage.
solg are desperate to get the money. pressure is on. this deal needs to be done yesterday.
Quady, what conspiracy theories? We are all saying we think the FN deal is going ahead, as stated.
Bnc
You can add into that the regional travel restrictions and gaining permits to travel.
Also quarrantine is in government run hotels for non Ecuadorians.
I'm guessing anyone travelling to Ecuador wants zero/little chance of being stuck there in a government hotel if the country goes back into lockdowm.
Gla
ARGGHHH, still more conspiracies. Maybe we just listen to NM.
BN.c yes agreed, that's what I meant. The delay seems endless to us lot because we are all hungry for news, in reality the delay may be perfectly reasonable. The drone thing may have just been one of various contingencies and nothing to get too excited over. I don't think the FN deal is smoke and mirrors whilst a takeover is arranged, I think it's real and will sign once they do the final DD.
As Quady said - a lot of due diligence has been done by the FN team (time and money) to get it to the point where they were happy to announce it to the market. Everything that needs to be seen will already have been seen. The site visit is a tick box exercise. Therefore, I assume that it would be NM's choice if the deal does not materialise, and he would have to have a pretty good reason not to take it (takeover).
rcg
if you have to say fly into Ecuador, go into quarantine for 2 weeks, then start work, on your return home then quarantine for 2 weeks before you can go back to work again, there's a month + lost - maybe it's just prudent and cost effective to delay for all concerned..unless of course they come up with an alternative way of conducting the site visit remotely of course.....which I believe NM mentioned in one of his many recent interviews.
r's
BN.c
Guys, I would be surprised if this doesn't get signed off. After all, a lot of work has gone into this. NM has said just awaiting trip. Again it's a question of trust.
Personally I am taking it at face value... they haven't recorded it because the deal hasn't been signed and it could be misleading to record it in the accounts if it might yet not be finalised.
I'm not in favour of the view that the FN funding hasn't been signed off because in reality Solg (and possibly FN) know full well a takeover is imminent. Both Solg and FN have put out and continue to put our regulatory announcements saying the deal is agreed and will be signed subject to completion of the final DD. It would be misleading the market if they were just using it as a decoy whilst all the time intended to be taken over and never sign the FN deal.
The bit I am not sure about is why the final site visit etc is taking so long to get completed. Having said that, maybe neither Solg or FN expects anything material to happen that would derail it between now and say October, and therefore what seems like an excruciating delay to all of us is in fact just immaterial to them. Maybe FN's team had such a backlog due to Covid that jetting into Ecuador literally as soon as the travel restrictions were over simply wasn't their main priority. Maybe the team had other visits to make. Maybe the administrative personnel who arrange all the travel and visas simply couldn't get it processed that quickly as they are all working from their kitchen tables with small children swinging off their elbows? Who knows.
Hey Phatty
Truth is only Nick & poss the SOLG bod actually know........
It's a fascinating game of chess, and we've seen minor moves from one side and some good defence so far from the other ie SOLG, but we're yet to see an all out attack [in my humble opinion]......
Whilst we look for clues in every bit of rhetoric or actual news, we will always be the last to really know what's happening, and even then we'll only know what they want us to know you know lols.
atvb
BN.c
Just seen this the CGP chat board curtesy of POB
FNV 2Q statement just published with reference to Solgold SOLG $SOLG $SOLG.L $CGP #cascabel #ecuador.Note 3 – Acquisitions and other transactions
(a) Acquisition of Alpala Royalty – Northern Ecuador
On May 11, 2020, the Company entered into an agreement with SolGold plc (“SolGold”) to acquire a 1% NSR with reference to all minerals produced from the Alpala copper-gold-silver project in northern Ecuador for $100.0 million. The Alpala project is owned by Exploraciones Novomining SA, which is held 85% by SolGold and 15% by Cornerstone Capital Resource Inc. SolGold has the option to increase the size of the transaction to $150 million for a 1.5% NSR until January 11, 2021 and also has the option to buy-back 50% of the royalty for a period of time. Franco-Nevada is entitled to receive certain minimum royalty payments from 2028 and the Company also has the option to convert the NSR to a gold NSR for a period of time once Alpala is producing. The closing of the acquisition is subject various conditions. In May 2020, the Company provided SolGold with a bridge loan of $15 million for a period of up to 8 months. The royalty interest has not been recorded as at June 30, 2020 as the transaction has not yet closed.
So not yet signed off. Ned