We would love to hear your thoughts about our site and services, please take our survey 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.
I’m guessing the only other option is a JV of around 90%, with our funding commitments deferred to production and income generation.. that should see a decent, but not spectacular spike… but can’t see CGP wanting a JV..
Happy new year Pinot x
Morning and happy new year to you all.
I'm struggling to see a full sale of SOLG as the most likely outcome here for the below reasons. I think there will be some sort of corporate action that allows us to cash in in the first half of this year, but for my money it won't come in the form of a takeover.
1. The DGR release on the Osisko financing & accompanying comments
In this release on November 11th we gained possibly the greatest level of insight in to what Nick & the interest he controls here wants to see happen at SOLG. Granted he is not the person running the company, but you would imagine, given the % of the business him, DGR and Tenstar own that he would have to be onboard with a full takeover for it to go ahead. The below paragraph from that release strongly implies his preference is for a "rinse & repeat" strategy that many of us have wanted for some time.
"The recent appointments and the agreement with Osisko represent just the first steps in the restoration of value for SolGold shareholders. SolGold’s exploration portfolio, and indeed the upside still evident for additional discovery, will drive the restoration. At a time when major banks are forecasting significant global copper shortfalls from 2030 onwards and current stockpiles represent only weeks of current demand, the SolGold’s resource and exploration inventory presents an enormous
opportunity for the definition of not just one mine but an entire copper province."
https://wcsecure.weblink.com.au/pdf/DGR/02597094.pdf
2. The absence of a buyer willing to pay 'fair value' (in Mather's eyes)
It would be ideal if we ended up in a situation whereby multiple entities were bidding for control of SOLG. This has been the case for some time. Yet no one has bid for the company, and given where the share price is currently languishing, I'm not sure the market expects a bid any time soon. Yes, the oft-cited Noront example is a counter to this point, and I can hear Fortissimo telling us that the market is useless at valuing companies accurately. But we are talking about Ecuador, not Canada and the pool of majors with the means (cash, given high interest rate environment) and motivation (alignment with strategy) to spend billions on a Tier 1 mine in a less-stable jurisdiction is therefore smaller, in my opinion.
It has been suggested that Jiangxi were brought on as a stalking horse, and may well make a lowball bid for the company in order to tease out BHP or whoever into countering. In absence of a counter-offer though, I can't see Nick Mather accepting anything between 30-50p for the entire company given his previous comments and behaviour. Which means we might see the share price spike to whatever the bid was but tumble back down if the offer isn't accepted by shareholders.
It is without doubt that the current BoD and Maxit are intending to monetize Cascabel, I just feel that given the above, they will be looking at options other than a full sale of the company.
Lol... Happy New Year Scrat.... Wouldn't that be nice.
Pinot
:0)
HNY Pinot.
Can we make it “this time next month, Rodney”. I’m starting to feel old !!
Morning Bubble, Dreamboatwarrior all...... Happy New Year.
This time next year Rodney......
Pinot
:0)
positive correlation between solGOLD and POG...
Good start to the year DBW...HNY to you also...
Thanks for all your helpful and eruditew contributions in 2022...
Eish agree
Merger out the way then get this puppy sold
DBW and Bubbles. Bodes well for us that both gold and silver are on a roll upwards in the New Year! Gold up $20 to $1840 and silver above $24/Oz! If this continues it can only be good for our Tier 1 deposit!
Let's get this merger done...... then?
Oh and HNY Red by the way
We’ll after shutting down for 3 years what did they think would happen?
Copper now forecast to be in surplus this year, as millions a day get COVID in China...
And you bubbles
This year could be the perfect storm for us
Funding sorted
Copper shortage looming
The Chinese are in town
Sangha and co in the wheelhouse
Bring it on
Morning solgers ,Happy new year , ONWARDS AND UPWARDS GLA
Great read some quality posts in early 2023.......
It beats the recent bickering here.....Keep up the good work all.
DBW excellent write up there many thanks for posting
If only you listened to me at 37p novice :)
Cont…
5. Mining is the fourth export product of Ecuador
Mining products are now the fourth export product and third product with respect to non-oil exports. This positively supports the trade balance and transforms resources into welfare and development for Ecuadorians.
6. The two industrial mines operating in Ecuador are among the fastest growing companies
With only 8% of the explored territory, world-class deposits have been found. The two industrial mines that are in operation (Fruta del Norte and Mirador) are among the 10 companies that contribute the most taxes to the country. They are also among the 20 fastest growing companies in 2021, the same is expected for 2022.
7. More economic growth is on the horizon
According to a study on the impact of the mining sector carried out by the Spurrier Group, we know that with only 12 advanced mining projects, exports would have a present value of $176,000 million until the end of their useful life in 2052, paving the way for a great project portfolio and consolidating the industry as one of the main engines of the national economy.
8. Industrial mining is committed to caring for water
Good water management is vital for legal and responsible mining. Its operations foresee the use of modern techniques, state-of-the-art technology and respect for current regulations. In the large-scale projects that Ecuador has, the water is recirculated, which ensures the rational consumption of the vital liquid and avoids waste; once treated and analyzed by an independent laboratory, it is guaranteed that it is returned in the same physical-chemical conditions as those in which it was collected.
https://www.eluniverso.com/patrocinado/la-mineria-a-gran-escala-uno-de-los-puntales-de-la-economia-ecuatoriana/
Also a photo or two from Solgold
Large-scale mining, one of the mainstays of the Ecuadorian economy
The Chamber of Mining of Ecuador represents this sector and promotes mining with principles, transparency and responsibility.
Important milestones in 2022
The Chamber of Mining of Ecuador represents this sector and promotes mining with principles, transparency and responsibility. It is an industry that generates taxes, royalties and employment by being actively involved with the communities.
1. Poverty was reduced thanks to industrial mining
Zamora Chinchipe is the province that most managed to reduce the percentage of poverty. It has managed to reduce the percentage of poverty in the span of two years, according to the latest data available from INEC. Poverty in that province fell 13 percentage points if you compare 2019 with 2021 and reached 30%. In other words, before, 43 out of every 100 inhabitants were poor and that figure increased to 30 out of every 100.
2. Industrial mining is the answer to unemployment
Until the third quarter of this year, the sector had 46,298 direct jobs, which in turn generated 138,894 indirect jobs, giving a total of 185,192 direct and indirect jobs that benefit Ecuadorian families. (Source: Ministry of Energy and Mines).
3. The contributions of industrial mining to Ecuador are also reflected in the taxes paid to the State
The industry's tax collection, between January and September 2022, amounted to $592 million. Fundamental income for the national treasury. (Source: Ministry of Energy and Mines).
Loma Larga prioritizes local labor from the area of ??direct influence of the project. Team of geologists working in the El Guayabo sector, in the Torata parish of the Santa Rosa canton. Reforestation Program "1M" in the Cascabel Concession. Monitoring of water sources for the Curipamba-El Domo project. Confectionery Las Dalias, a women's organization from the Victoria del Portete parish, manufactures artisanal chocolates filled with local products. The organization was promoted within the Dundee Precious Metals Social Progression programme. Photo: Lundin Gold Photo: Dundee Precious Metals
4. Mining is the fastest growing sector of the economy
From January to October 2022, $2,310 million in mining products were sold abroad. The amount represents a growth of 42.24% compared to the same period last year. In the same period of time, Ecuador exported 178,962 tons of gold concentrate and 507,250 tons of copper concentrate. (Source: Ministry of Energy and Mines).
Ecuador to launch security program for mining projects
MINING . COM Staff Writer | December 27, 2022 | 10:09 pm News Top Companies Latin America Copper
Ecuador to secure mining projects entering construction phase.
SolGold’s Cascabel copper-gold project in Ecuador, 180 km north of the capital Quito. (Image courtesy of SolGold.)
The Ecuadorian government is preparing a security program for mining assets.
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.