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I have been concerned about the ecological issues, ie the destruction of the forests, that mining will have in Ecuador. I have been looking at the positions of our currently most important concessions in respect of their ecology. Although I do not see a problem which ever candidate wins next year's election, the most trouble appears to be coming from the green activists from Europe and, I think, North America. I really cannot see a problem with Alpala; it is in the North of Ecuador relatively close to a main road. Porvenir and Blanca are at the very south of the country in very remote countryside close to the eastern outcrop of the high Andes where there do not appear to be any roads or tracks, hence the reason that the drilling equipment needs to be helicoptered in to Porvenir. There is apparently a track sufficiently viable to take the equipment to La Hueca. I myself do not see that there is a problem. Ecuador needs the money which mining will provide. I don't want to destoy the enviroment as much as the next man and NM and Solgold appears to be wedded to the same principal. Certainly that is the impression I get from the website and Solgold accounts. If Solgold can manage to keep the footprint of each mine as small as possible then I really cannot see that Ecuador can do anything but gain from the mines. However, the BOD do need to be prepared to answer the activists on this issue should there be a challenge. As I said, Ecuador needs the income that the mines will generate. The local people will gain from employment, schools and medical facilities that are being provided. The world needs the copper primarily for all the electrical goods, generating equipment equipment, etc.. ...And gold is quite a valuable side product!
I expect an offer will come in October as he’s said in the April webinar he expects a full re-rate after the full feasibility study is completed in Q1 next year. Meaning it could be the only chance they get to make a low offer. Let’s not forget the 117p broker view isn’t for when it’s being mined but is an indication of what the price should be now/within the next 12 months. I can’t find any gold play with as bigger upside as SOLG and with as many brokers covering it I’m struggling to see why it’s so low other than the fact it’s in a random country.
Quite right Copperpot, looking forward to the next three months, as don't believe we will get a bid, as really only company that can't bid for us is BHP, everyone else can, but even at this price no bid. Maybe different after PFS, and the competition can see the operating costs, and thus can do some meaningful calculations, on revenue, cost and profit, just on Alpala. I think that is why we have Citi on board. All the best.
DBW,yes NM said that a while ago ,he said alpala wasn't the one he was anticipating to be a tier 1 asset so very exciting times to come next couple of months with updates imho ,share price should rise on results imho ..
More informative and detailed than all of NM's recent webinars. Brilliant read and clear that they only need to deliver a few good drill strikes/core samples and suddenly these are on the way to mirroring or bettering Alpala.
Also clear that they will be doing this very quickly over the next 3 months and I think we all know why! The race is on to find the next Alpala before BHP are woken up from their hibernation period.
You can see the logic... prove one of these targets up (with world class results) and the share price will explode higher. Then see how CGP holders feel about things. All going happen in the next 3months. Exciting stuff.
The election could potentially be a huge friend of Solgold. It may put the brakes on any majors offers until the election is over. Majors wont throw huge money around willy nilly on if's but's and maybe's.
I'm just watching the Bronco's on Sky Sports Arena, I wonder if Nick's at the game? ;-)
Good morning dusterinmong, I have probably looked into the political background, more than most on here. In fact, I looked at it for 18 months before, I brought into Solgold 7 years ago. The political system in Ecuador, is a functioning democracy, but has one major difference. In the first ballot, if your party wins 40% of the vote, and you are the only party to win 40% of the vote, then that's it, you become the ruling party. If not, then you have a run off. The current party, won 39% in the first round, last election, and won the run off. Moreno is only president, because the previous incumbent, had served two terms. You cannot serve over two terms. So what does that mean? Well if Moreno should win early next year, he cannot run again, when Alpala is built. So at some point we will get change. However, Moreno is to the left, if you like, he is the socialist choice. His opponent, who is the leader of a recently formed party, is to the right. Both I would say are level pegging, at the moment. My feeling is Moreno will lose, and we will get change, because, we are seeing an austerity program in the country, in order to meet the requirements of the IMF's 5 billion loan. However, with declining oil revenues, mining is the new black gold, and much needed. On one of the presentations, it was mentioned, that when Alpala was up and running, that it would contribute around 4% to the country's GDP. That's massive, and both parties, will not do anything to upset, inward investment, at the time, they need it most. So on a personnel note, I am currently relaxed about the political environment.
Think we all get the message you think or hope it’s going to 16p, could happen, could go to zero or £10 the one thing for certain is it WILL not be predicted by a pile of coloured lines overlaying a share price. Chartism was a movement started in the mid 19 Century and should have stayed there, like the black art of economics if you muddy the waters enough anything can be made to appear. What chartism will actually do is trawl through data AFTER it has happened and then explain why that thing happened, your chance of being right is exactly 50% and likewise your chance of being wrong. I favour trends and at the moment the trend for gold is rising, I can also possibly see the demand for copper rising provided the world economy can get over the global destruction wrecked by corona virus, if it doesn’t then so much the better for gold. So Solg ticks both boxes Recovery win, Global Depression win. What do your charts say?