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Tweets to keep an eye on from this source -
https://mobile.twitter.com/embajadaecuchi
And to DG1Investor... great posts.
Nice note to end 2022 on and enter 2023. Have a good one all.
Great posts Bogota.
"“The mining sector in Ecuador is beginning to grow,” said Molestina. “It is going to be really attractive for Chinese companies to invest in after the agreement.”
Two of Ecuador’s largest copper mines, the San Carlos-Panantza and Mirador, are owned by the Chinese state-owned enterprise CRCC-Tongguan."
Looking really good for the Chinese and SOLG. Free trade deal could be game changer. Timings look no coincidence either.
US frets about ‘erosion of influence’ as China and Ecuador move closer to a free-trade deal
A free-trade deal with Ecuador would be China’s fourth with a Latin American country, after signing agreements with Chile, Costa Rica and Peru
The warming relations have fuelled calls in the United States to open trade talks with Ecuador to counter China’s growing influence in the region
As Ecuador and China move closer towards sealing a free-trade agreement, concern is mounting in Washington that the United States is losing influence in Latin America.
Ecuadorean President Guillermo Lasso said early in December that negotiations with China on a bilateral free-trade deal (FTA) were “practically closed”, some 10 months after talks started. The deal is expected to boost the value of Ecuadorean exports to China to US$1 billion, while offering Chinese firms access to an array of raw materials.
A FTA with Ecuador would be China’s fourth with a Latin American country, after signing deals with Chile, Costa Rica and Peru. In September, China agreed to restructure US$4.4 billion of debt owed by Ecuador, providing relief of $1 billion until 2025
Cheers Bubble & a Happy New Year to you pal !
I think the £1.32 may well have passed us by now - was a great dream for many a year and I’ve always admired your resolute position with SOLG ….all the best for 2023 we all deserve a decent result here & decent for me would be a result that puts a very big grin on all of our faces
ATB
DG1investor as always great read my friend looking good for next year here imho ,have a happy new year my friend see you next year!!
Article from 9th Nov 22 (not October 22 - my slight error)
Interesting article from Reuters on the 9th of Oct - no doubt that Mr Irwin was referring to some of this China blocking by Canada back around the same time on Twitter
Looks very much to me like China want / need copper and lots of it - they will have no qualms about going up against BHP if they need to and furthermore they are already active in Ecuador …..just some food for thought
BEIJING, Nov 9 (Reuters) - China's top copper producers are urging the government to mine more of the metal, at home and abroad, as concerns grow about disruptions to global supplies, the state-backed China Nonferrous Metals News reported on Wednesday.
Jiangxi Copper Co Ltd , Zijin Mining , Tongling Nonferrous Metals Group Co Ltd (000630.SZ) and others urged relevant authorities in a meeting on Tuesday to launch a new round of ore prospecting as soon as possible and open a new batch of mines for development, the newspaper reported.
The lobbying by the industry comes amid rising concern about the global supply of copper, which is used in transport and construction, and increasingly in the fast-growing renewable energy and electric vehicle sectors.
In Peru, the Las Bambas copper mine, owned by Chinese miner MMG Ltd (1208.HK), said it has started to reduce operations due to recent blockades by indigenous communities, who have disrupted activity on and off for months.
Chile's Codelco, the world's largest copper miner, said this week it would extend maintenance work at its Chuquicamata smelter to 135 days, from an initially planned 90-day stoppage.
China is the world's top user of copper and relies on imports for about 25% of its consumption.
Mining companies should mine deeper and broader and work on extending the life of their mines, while smelting companies should speed up overseas resource development and optimize their layout over the industry chain, the Chinese companies are reported to have said at the meeting.
Chinese miners are, however, facing growing headwinds abroad, as countries compete to secure critical resources.
Last week, Canada ordered three Chinese companies to give up their investments in Canadian minerals, citing national security.
China produced 10.49 million tonnes of refined copper last year and imported 23.40 million tonnes of copper ore and concentrate.
Also something I read recently
Over and above direct foreign investment in mining projects around the world China, has splashed more than $16 billion on buying overseas copper companies and assets since 2010.
But if China is to follow the Japanese model of securing long term supply to feed its downstream industry — it has some work to do.
Japan has managed, through well-known companies like Sumitomo, Marubeni and Mitsui acquiring minority interests and JVs in scores of projects, to own 70% of the copper in concentrate it imports.
The above extracts from an article I read got me thinking - Chinese companies do like to own their assets outright - where as Japanese companies are more prone to look at JV’s or smaller stakes - Mitsui were connected a while back to SOLG ….I recall the tweet which mentioned Mitsui looking to make an investment in SOLG
Just my musings - but maybe Mitsui’s interest hasn’t been furthered as SOLG are looking for the complete sale and not looking for JV partners - and just maybe Jiangxi fits that bill better than a Mitsui
Just a thought …..
Agree Copperpot it’s high stakes poker now.
However do we actually have any drill results held back ? I’m not so sure we are allowed to do that and it would certainly be a new thing for SOLG to hold back news (unless it’s been bad !)
CGP will vote the merger through on the 9th - and at that point I’d assume we would be ready for any corporate action.
Maybe a final placing of the CGP SOLG shares which get returned to treasury ….without the need for us to place them down at these levels.
If those shares go to Jiangxi then I’d guess it would be the prelude to a bid. Jiangxi bid for example and it will either be low as they are looking for a bargain and want to test the appetite of any other suitors - or they may well pitch at a price point designed to get approval straight away - a knock out bid if you like not allowing too much room for anyone to come in over the top. I’m doing it that way - a sort of best offer pitch they either win the spoils or if someone comes in over the top they will have made a good return on their recently purchased tranches
What’s important here is getting that first bid - I hope it’s been the game plan since the beginning of the CGP/SOLG reconciliation and maybe the driving factor in bringing us all back into the fold together
Currently the market doesn’t believe it or has missed it - I’m not convinced about the arbitrage play some have mentioned - I see SOLG being sold down to placement price and below but haven’t really seen any volume of CGP buying…..so for now it looks like the market has followed the typical route of selling down to placement.
Hopefully we turn up after the merger
Then let the bidding commence
Snuggtopz, it's not boring buddy.....it's the biggest game of high stake poker being played here. Why show "all" your cards to your competitor? "The one that will rip the shirt off your back for fun" then he'll walk away smiling!
The drill results aren't going away, they're being saved for another day/another game!
Happy New Year to All.
Snugg,
It can’t be boring if they are not drilling
Hoping for a happy new year and a prosperous one, atb
when was the last time we had an update on drilling ? this is getting so boring now
so on the basis the funding is ringfenced for cascabel production I assume we still have the £100 million from the last NSR deal as wasn't that ringfenced too. ?
21p you had too much wacky baccy
IMO, the SP has absolutely no relationship to what this will sell for.
Our resource is very much wanted and even the thought of less than 50p makes me laugh.
It's all academic anyway, because a bid will not come for a fair old while.
I can't say when it will, but I'd be quite happy to bet it won't happen in 2023.
No doubt that will upset a few who have been saying it'll be sold for years now.
I have to laugh, because it's obvious to me that while the company has done all the things to make it look like they want a sale, I honestly don't believe it's true.
If it is, I still totally fail to see why they don't just come out and say sthat they want to sell.
Is there a worry that it might lead to a lower sale price? I doubt it, personally.
I see lots of disappointed PIs this year, because of a lack of a sale.
Meanwhile, I continue to accumulate, with the aim of reducing my 17.5 average even more.
Agreed Add, surely 2023 couldn't be any worse than the year we have just had.... could it ? Maybe my 21p expectation is too optimistic Lolzzz
Agreed Bozi, My expectation of a buyout is 21p !!! HNY to all
Add - I can only speak for myself but I'm trying to set my expectations low. That way, if this thing does ignite and the result is something we'll in excess of what can be safely assumed, then it'll be a nice surprise.
I'm just keen to avoid getting optimistic to the upside only to have my trousers pulled down and then have anger for Bob, Warren, Nick, etc etc.
There's no ramping or deramping from me. Just underpromise and overachieve hopefully.
The only thing I do know with absolute conviction is that this has been a bloody awful year.
So, here's to a much better one in 2023.
Bozi, people are making assumptions about value, and personally I can't see the point, particularly as it seems to be leading to a lot of depressed individuals.
A load of people saying "we won't get this...we won't get that"...to repeat, no one's got a clue.
I've never given a view of valuation and I won't start now. I'll form an opinion when something tangible appears.
Btw, you're absolutely spot-on about the 50m. It'll be gone in a flash and one thing I can guarantee - we won't be any further down the road to production.
How is it Addicknt?
You have said yourself that the landscape has changed since the merger and strategic review was announced and I agree.
Isn't the whole investment case for SolGold now based around how much someone might be willing to pay and when?
Yes, we know we have $50m from Osisko for Cascabel but we can assume this will be steadily sunk on staff, site visits, maybe a bit of drilling at Tandyama if we're lucky.
But aside from that, we're drifting, floating like Tom Hanks on his raft. Wilson!! WILSON!!!!!