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'Feeding frenzy', ha, ha! 200k versus millions. Don't be daft.
Comments made by former Ecuador Deputy Minister of Mines - Article from last July
"If Newmont decides to stay in Ecuador, it will seek to acquire 100% of the Fruta del Norte mine and expand its interest in the Cascabel project. I believe that Newmont will stay in Ecuador and use the path opened by Newcrest in its strategy to fully enter Fruta del Norte and expand its stake in Cascabel."
Add, you forgot the tale of the dog with the bone 😆
That is our Scotty. He is in such a feeding frenzy at the trough, he lost track of the bigger prize of flogging the company! You know the damage that greed can do to people 😆
Sorry Fort, I am 100% certain that Trump will be the next president.
1984, too bad the Native Americans didn't have a robust immigration policy. If they had, they would still own their own country, rather than having it stolen from them!
Eloro, why do you imagine he'd prefer to toil away at the coalface for another x number of years whilst earning a meagre 200k per annum when he could flog the company, trouser a multi-million dollar fortune and retire a happy man? He's 67, after all.
If only we had someone with the balls to stick it to the Chinese and stop immigration and end wokery
Thanks BBG good article
Trump won't get back in. But by running Biden, the democrats are giving him a bluudy good chance!
Cheers BBG, it would be great if Newmont and Jiangxi could make a move on solg before Trump start his second term with more anti-Chinese policies.
Obviously I am not happy to read that Scott is in no hurry. Clearly he is finding it hard to pull his nose away from the trough 😔
Cheers BBG
Atb
3.
Cascabel is viewed by Caldwell and his board as "a multigenerational asset, potentially one of the 20 largest copper-gold mines in South America". City broker Hannam said: "Newmont/Newcrest has previously indicated a desire to increase its copper exposure, while Newcrest's past success in Ecuador could also weigh in SolGold's favour with its 32% equity stake in Lundin Gold (owner of the giant Fruta del Norte gold mine in SE Ecuador) currently worth about two and a half times its initial investment."
For now, no-one seems in a rush to do anything, but that could change very quickly.
2.
pdac
solgold had a good pdac, signing an investor protection agreement with the president, despite a continuation of nationwide curfews. at the convention, ecuador's president daniel noboa went out of his way to underline the country's continued commitment to foreign direct investment, especially in mining. collaboration with solgold and others represented "a significant commitment to the growth and sustainable development of the mining industry in ecuador", he said. solgold's share price has doubtless been helped by this year's increase in the copper price, but company specific factors have also played a role. a revised pre-feasibility study unveiled in february slashed development costs by $1bn. initial mine development, fi rst process plant module and infrastructure is now estimated at $1.55 billion, compared to $2.75 billion envisaged in april 2022.other good news has come with exploration results at adjacent blanca-nieves, 8km from cascabel;and potential investors are quietly please with boardroom stability brought by solgold's new ceoscott caldwell – appointed in march 2023 - who is now living in ecuador while he conducts a strategic review.
the result of that review could lead to a sale, partial sale or joint venture with one or more of the cornerstone investors, but caldwell isn't in a rush. like juniors everywhere he is keeping operation sticking over after slashing overheads to reduce cash burn and allay funding concerns. as things stand, the company has cash of close to $13m and treasury shares linked to last year's merger.
palmer steps in
what shape any m&a takes is a topic well-rehe****d, but a new theory is doing the rounds with market sources suggesting bhp's interest has dropped away and that newmont, under ceo tom palmer, is the likely kingmaker, perhaps via a jv with jiangxi. palmer is on the record as saying one of the main reasons for newmont's merger with newcrest was to expand the firm's copper portfolio. newmont gets about 10% of its revenue from copper following the takeover of newcrest, and that rises to 20% or more as it develops planned projects. roughly 30% of newmont's reserves are now in copper with palmer telling media recently: "you can expect the value of our copper assets to increase, and the importance of copper in our portfolio to grow. we have three big copper properties, one on png, one in peru and one in british columbia, all of
significant scale." one could ask how important solgold really is to newmont when palmer has plenty of opportunities
to allocate capital elsewhere (including copper), but it's probably too big a chance to pass up.
1.
It's often difficult to pinpoint precisely why a company's share price moves up, a good example being that of London-listed SolGold whose stock price has spiked 26% in a month. The company, which owns the hugely prospective Cascabel/Alpala copper-gold concession in Ecuador has long been touted as a bid target.
In the past, the news has been less than bright, marked by boardroom rows and stakeholder disagreements, while, more recently, a state of emergency was declared in Ecuador, stemming from armed conflict that exploded between Latin American drugs cartels. There's no suggestion that a bid for SolGold is imminent, so market observers have been wondering what's behind the biggish uptick in the shares, although at 8p, they're still a long way off the 46p of seven years ago.
A number of theories are doing the rounds. One broker told this writer that for the first time in awhile, the phone has been ringing with calls from retail investors considering buying the stock, so perhaps there was an appetite for explorers with "standout assets".
I have it
I suppose the same argument could be applied to BHP.
Would appreciate the full text, if anyone has a subscription.
https://www.mining-journal.com/london-to-a-brick/opinion/4189775/newmont-kingmaker-future-solgold
9p Breakout.....
Got to be very close to this now.
T/O News must be very close to being announced, it's all gone very quite at HQ.
GL ALL
Finally somebody else sees that
Holding EQX and GPM...plus SOLG which is surely now a Gold play...?
Relevant at a tangent to Solgold. I don't know if you have been disappointed with the share price of many gold shares I follow.
https://www.marketwatch.com/story/buy-gold-or-gold-miners-you-dont-have-to-dig-deep-to-hit-paydirt-98428d04
Perhaps it's time for the Gold Miners?
The former Soviet Union! Kat will be pleased.
And Son Heung-Min on a free too
Nothing but the best for solgold
From Solgold About Us...
"Mr. Jian (John) Liu brings over 30 years of private investment advisory experience to the SolGold board, with a diverse background spanning multiple sectors, including mining, energy, technology, consumer, and healthcare. He previously worked as a partner at Valuestone Advisors for mining investments, as an advisor at Jiangxi Copper Corp for its overseas M&A projects, as a partner at Greenwoods PE Funds, as a director at Mousse Partners and Actis, and as an associate at Merrill Lynch Direct Investment Group. His experience includes assisting portfolio companies in strategy formation, fundraising, investing and corporate governance."
Good information there Redknight
Thanks for sharing
Wow we’ve done it again, signed Jude Bellingham on a free for little old solgold
I wonder if Charles will hang around longer than the much lauded (by redknight) Ayrton whatever her name was, the greatest sage of the financial world to sport a pair of norks.
From his LinkedIn profile...
"Working with companies through difficult IPOs, challenging investigations, political turmoil and commodity market downturns has given me deep experience in managing relationships between significant stakeholders and minority interests."
Endorsed for Mining experience by Vhernie Manickavasagar
"Partner @ PwC UK - IPOs, Mergers & Acquisitions...20 years of experience advising companies on IPOs, SPACs, Mergers & Acquisitions, Demergers & Disposals and Rights Issues on the UK and US stock exchanges...."
And from his KODAL Minerals cv:
"Charles is a former Chartered Accountant and has 32 years' experience with PwC including 20 years of experience as an audit partner, as part of its Energy, Utilities & Mining Group. Charles has been responsible for providing services to many international resources groups, including those with operations in Russia, Kazakhstan and Africa. He has acted as reporting accountant and advisor for various companies quoted on both the AIM and the LSE Main Market. Charles will chair the Company's Audit & Risk Committee."
And from Solgold "About Us"
"Mr. Charles Joseland joins SolGold’s board as a highly experienced finance professional with a career focused on the mining, utilities, and energy sectors. With 32 years at PwC and as an audit partner working on large listed international groups, Mr. Joseland brings a wealth of knowledge in financial oversight, governance, and risk management. His extensive career includes working in Spain and the Former Soviet Union and advising many organisations in Africa and North & South America. "