SolGold Share Chat (SOLG)

Ok Quady, I’ll bite. Where’s the updated project plan in today’s presentation which shows this new timeline, with the associated slippage to the PFS milestone, but earlier delivery to production? They removed all mention of it from the website. Why?

FTF - understand the view although they have been selling the relatively "low capex" for the approach including block caving and the virtues being nearer sea level (as opposed to the Chilean High and Dry), plus near hydro electric etc. Now they suddenly consider this higher risk...
I hope they have a decent RNS for Tandy to hit on Monday. Bury this news on a Friday and see investors happy come next week and buy into the delay...

Which RNS made clear we had economically viable near surface mineralisation near Alpala? It might have been hinted at, but I’ve not seen anything concrete. And if there was anything, why was it not detailed either prior to, or ideally alongside today’s news of PFS delay, thereby mitigating the damage? I don’t believe we drilled for years and tripped over tonnes of copper and gold on the ground without seeing it. Smoke and mirrors, and ongoing high salaries. Disgrace.

ToS1963, sorry I was surprised as well, but I know you would have read the RNS, we are going to production with a lower capex, and faster.
Yes the story has changed, but not the direction and destination hasn't.
Yes the share price has gone down, because uncertain conditions spook markets.
I doubt any of the main parties have sold today.

All the best.

Just filter him...you don't want a thrombo...is he talking about anger...? I'm not angry, but I can't stand his self assured rubbish any more...how many blind eyes can one person have...?

Ok, you don't reduce the block cave upfront capital risk by starting open cut, but you do sidestep/defer that risk.

mm, that's not a contradiction. the high grades at Alpala (cave) would deliver fast payback, 3 or 4 years, which is great on a mega project. But, the revised - open pit focused - study/plan would reduce the risk of a very large capex, if it can get us started on a much more modest basis. You reduce the risk of the big block cave capex by starting smaller and with less capital intensity, by starting with surface mining. Alpala cave still promises fast pay back, (assuming it goes smoothly.)
But it presents a large upfront risk due the bucks and engineering involved.

Quady my anger has got absolutely nothing to do with whether or not a bid is coming. Nor have virtually any of the others posts on here suggested that. Almost every poster has made clear why they are angry. For heavens sake, even your rose tinted view has just been kicked down the road again. Surely to heavens you must see that?

Here is how Kitco reported today's news...

https://www.kitco.com/news/2021-02-05/SolGold-shares-nose-dive-after-Alpala-pre-feasibility-study-update.html

And here is the key takeout...take a Valium before you read it...

"There is some support at the current price point and the green level at 18.75 is very close by. If there is to be a move below the green level then the next zone to watch could be the 10.00 level. "

I think if everyone takes a step back, the anger being displayed here, is by many who now think a bid is not coming.
I have also been surprised by todays RNS, but let's remember the Solgold message hasn't changed we are taking this to production.
This has never been about what I think, it's about the direction that Solgold is taking.
For those that have sold today and recently I wish you well in your future investments.
For those of you that have held ( me included ) we are continuing with the story.

All the best everyone.

Jezzoo, there's plenty of that we could point to, but I don't think that's today's specific problem.

P18 on the presentation is at odds with the RNS today:

P18 = "High grades at Alpala to deliver fast payback "

NM states in RNS regarding revised study " is to reduce the risk of a very large initial capex on a large underground development"

So which is it Solgold - fast payback or not? So many contradictions of what has been sold to us over the last few years

DBW, my hunch is that that may be correct - that they have had more drilling success at Tandayama, necessitating a reprioritization of the whole Alpala project. Now IF this is true, then it's f'ing awesome news! (And also F U to the fools who waited an extra 4 years to drill it.) We had the early visual results from T-A, saying it was shallow and was hitting D-10 lookalikey mineralisation. Then why release the news in this order, painting a doom&gloom mood? Surely better to say we got 5 holes and they're shiney and they're in the lab...and also, based on this new success, we're rejigging the mine plan massively, and massively in favour of the company! Alas, we got this instead.

The greed and arrogance of the board and NM has seen them hoisted by their own petard.

Definitely better opportunities out there now. There's no clarity, only complete uncertainty and no potential share price drivers for some time. I think this could drop back further still unfortunately, but I hope I'm wrong. Good Luck All!

CD, the amount of speculative fiction you can pack into a single post is truly amazing. You don't have to believe ideas just because they pass through your own head.

I've sold some today (still holding the majority) as i feel there may be further to fall and if so, i will buy the shares back. I shall hold my remaining shares until the bitter end.

I am still reeling at the RNS and to be frank, very, very angry about it .....not that that will achieve anything of course !

It just leaves me wondering whether i can trust anything i ever thought was true about this company and its prospects ??? Probably an over reaction and hopefully a new broom can sweep clean and all that. The news possibly explains why we've not received a bid to date ?

DBW, Tandayama showed great potential but then so did Porvenir and we are heading for month 5 on that and are not much further advanced. I guess my view is a simple one. I see no quick fire solutions here. Hence why MRE4 is more likely than PFS anytime soon in 2021. They don't have enough time in 2021 to derisk Alpala. It's taken them over 6 years+ to get this far!

Stretching things out, derisking etc etc is all NCM's and BHP's game. By the time Alpala is derisked, these tow holders will have 20%+ each of SOLG imho. Combined with CGP, it becomes almost water tight. It becomes their project and their folio without paying the big price. NM knew this, tried to fight it and tried to find a swift PFS scenario but got scuppered imho by the Rio mongolia disaster. His finance stream buddies legged it after that. That's my guess. It's not game over here by any means, but it's NCM's and BHP's play thing now imho. And as such... dreams of 100p+ are over. After future dilution/cap raises, I think 45p might look like 75p in old money. I'm neginning to think there might be better 1 or 2 bagger opportunities elsewhere with less risk. GEMD is my recent sparkle of fancy. That's got a 3 bagger written all over it imho.

at least cornerstone are "pleased to announce the following" and gives a better view of the situation

https://cornerstoneresources.com/news-releases/21-03-pre-feasibility-study-update-alpala-project-cascabel-concession-ecuador/

Sure Tiger100 the ridicule part was sarcasm.
The near surface gold is at Blanca, we found this two years ago, and indeed Solgold suggested an open pit to get money quickly to cut down the borrowing for Alpala.
Half of Blanca was in ENSA and so stopped it, we think because CGP may have benefited.
So with the extension of the Alpala site, to go open pit, there is a chance that Blanca is within that area.
We already have surface gold at good grade at Blanca. So maybe they will drill there while PFS is prepared.

Am I wrong in thinking the pfs is going to be based on the cascabel region not just alpala or have I read it wrong

So although very disappointed with the price and loss if i sold up, so no other option than to tough it out as long as I can

Uptake in resource

I should clarify that I still believe someone else will do the producing ( hopefully we retain an interest)
But this makes us a more attractive target in the near term too

Colonel
Whilst you could be entirely correct . Do you not think this Uturn is directly connected to what they may have found a couple of clicks away at Tandayama? Surely bringing production forward for less expenditure ( ergo less dilution) is a good thing ?

Just ignore him mate...life's too short...or filter him like me...

The smart move here is to IPO Green Rock Resources...following the DGR model...

Puts a value on Porvenir (and the rest)...raises cash to fast track Porvenir...leaves SOLG with, say 80%...

I would put an IPO value of £200 million as achievable with a credible MRE and PEA...

Meanwhile, the prospective value of an additional royalty agreement with FNV, WPM or Jinxiang doesn't fall just because the SP does...

Still see the need for an equity raise here sooner rather than later...smart move is to go direct to NCM and BHP...CGP don't have the cash...