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5th Feb 2021. SolGold PFS delay to allow further optimisations SolGold has announced a further delay in the release of its Alpala Pre-feasibility Study to the end of 2021. This decision was taken on the direction of the Project Committee, chaired by NED and incoming acting CEO Keith Marshall,to allow the SolGold team to incorporate additional data and fully assess options to optimise the project, both in terms of economic outcomes and technical risks. Having been delayed from Q3’20 due to Covid-19, we had been expecting the Alpala PFS to be released around the end of Q1’21. However, SolGold had already communicated that the PFS would be followed by a second “Updated PFS” incorporating additional results from geotechnical drilling, amongst other items. In this context, we believe the decision to allow time to complete a more robust, optimised study, rather than release a suboptimal PFS in the near term, is both prudent and, in the longer-term, positive.
Adjusting for potential dilution from outstanding warrants/options, this translates to a target price of 105p/share, 362% above the current share price.
My thoughts exactly FTJNY. Rather than openly collaborate over that option, with hindsight, Mather appears to have shut it down and instead tried to turn Alpala into an un-meetable obligation for CGB, presumably to squeeze them into accepting a takeover. Good plan, .. had it worked.
ToS, fair enough, I was a bit snippy also. What I was alluding to was Tandayama, which is shallow and they say the rocks look like the D10 high-grade from Alpala. When they announced that my reaction was (along the lines of) "Well that is great news but why didn't you drill it 4 years ago and does that make the mine plan obsolete?"
Anyhow, a plausible interpretation of today's news says it's good news, because the new sheriffs in town have found a more economic approach to the property, therefore more money for us................someday.
Sorry newtoit another conspiracy. The point is Solgold have been consistent in taking this to production. We are just going to do this cheaper and faster, so why are people selling. I am guessing because they were expecting a bid.
ToS1963 I'm with you on this, drills were stuck in on a number of targets but nothing came of them, if a new PFS is required involving targets other tha Alpala they will need masses more drilling and a MRE on one or more targets, we all know how long that could take, then a new PFS, how long will that take? and so on.
Get the S P right down, everyone runs away and you can just hoover up the shares for a pittance and own everything. THEN, SOMEONE can take this to PRODUCTION when it goes quiet in 10 years time. Payout in 20 years. Gotta hand it to you Quady. WHAT A PLAN. ATVB HAVE FAITH Have a safe and enjoyable w/e. It will be great next week.
My bet is on us revisiting the part of Blanca which sits within 5km of Alpala and which showed lots of promise as being a near surface gold mine which would help boot strap the construction of Alpala. Until that is CGP claimed correctly that as it was located within 5km and it was deemed to be part of ENSA so CGP had a 15% share. No Surprise then when all the promising drilling was suddenly stopped and the Blanca concession divided into 2 parts. Therefore woukdnt be surprised if we start drilling this again as I strongly suspect this was the area Warren Irwin was reffering to when he said Solg were withholding results ( or words to that effect)
I think CD ( the guy who won't speak to me despite my apology) makes a very valid point : today's RNS is arguably one of the most important we've ever had. At such times, shareholders have an absolute right to be looked in the eye and the facts laid bare. It's a shame that Mather didn't resign as CEO with immediate effect the other day allowing an acting CEO to pick up the reigns and get a new broom sweeping the old filth away asap. That sweeping would include a webinar or such with open questions. Openess and honesty needed here moving forwards imho and then maybe we can look back at today as the start of a new and prosperous chapter in the Book of SOLG.
ToS One last point ( which I liked) the PFS if and when it finally arrives with cover the entirety of the Cascabel project ( ie not just Alpala) maybe NCM were right and we hadn’t in fact hit the real core .... if they do this right we may even find a way of doing this far less expensively.... you never know ...... don’t rule out the Blanca boot strapping idea either .... don’t let Quady hear me say it but suddenly being at least part of the production looks more likely than it did 24hours ago ...... JV / buyout still favourite . This board always a better place with real news to discuss
Porvenireal... my last reply to you was flippant, I apologise, but I’m angry.
to undertake a thorough re-assessment of all potential near-surface mining options at the Alpala Deposit, and
· to investigate the resource potential at satellite targets on the Cascabel concession, including Tandayama-America, Aguinaga and Moran.
Neither of these statements confirms the presence of near surface mineralisation. They suggest more drilling. A multi year campaign failed to find it first time around, so I doubt there’s any there. But as I said to DBW, I hope for all our sakes I am wrong.
Well I think we are owed a presentation and a proper strategy reset. Certainly looks like the CEO-elect is clearing the decks so it’s all attributable to the last watch. A paucity of news, a risky strategy, under delivery and U turns. Not writing this off but increasingly comfortable with the baton change. This was all a bit too cozy with hindsight.
Let's hope its not 18 more months of drilling and results without bringing anything to a conclusion. As it stands we have 72 concessions and we don't actually know of any of them are viable mines. Not bad for 8 years work.
Those of us around long enough to remember the great days of the Alpala drilling campaign will recall how pleased we were with the results, caveated by how deep it was, and that it meant that far from ideal block cave was the likely outcome. We, and the markets, accepted that. Back then, we were all hoping and praying for any drill results to show near surface mineralisation which would make mine design far more economic, but drill after drill, it wasn’t to be. Now we are being led to believe we have suddenly stumbled upon some, yet not released this to the markets? I am calling bs on that. And so does the market. Will happily eat humble pie if and when the PFS comes out - if it ever does - or further assays prove me wrong. In the meantime, I think it’s utter tosh.