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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.
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?
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.
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.
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!
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.
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.
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 ?