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i believe it was one of the permits given recently in the last couple of weeks following the interview with NM and the assistant minister in Eq where NM was asking for permits and the assist said they would be due in a couple of days. Ned
Novice, I know what you are saying regarding guarantees, and I never expected any, but from my standpoint it’s still annoying. Years ago, NM and his team of crack geologists thought there might be gold and copper in the hills of Ecuador. As drilling and proving that was expensive, they sought funds from the market. I did my research, knew the risks, and opted in. Years later, NM and myself by association were proven correct. The gold and copper were there in abundance. However, instead of seeking our finders reward, NM now says he would like to borrow shedloads more to get it out the ground. That’s a whole different investment case, and risk profile to the one I signed up for. I realise that as long as he keeps the majority of his shareholders onside, he is perfectly within his rights to do this. But it leaves all the LTH who don’t share that view with no option. We would be mad to exit.... our original investment, and all the risks it overcame along the way.... has not been rewarded yet. We’ve found the treasure but can’t get at it. If I had wanted to invest in a miner up front, I would have chosen a dividend payer with a proven track record. I already have 2 mining companies in my portfolio. Also, as was discussed earlier, I may no longer see the benefits of this. If I had no descendants, my investment turns to dust. That’s wrong. I understood the risks, but NM changing tack after proving the resource wasn’t one of them. He needs to create both value exit points for shareholders. Every dilution pushes both down the line.
Just to finish my train of thought on this subject I raised. Rhe last report by Benn Whistler on the Rio Amarillo project says they think they have a sleeping giant it has a potential vertical column of upto 3 to 3 5kms. I remember that this is where one of the drills is going and no wonder Knew I was not going mad. Ned
Yes BNc . Think I found it. Last hole drilled outside alpala was 15th nov last year. Went down 800 mtrs They found in the Blanca tenement a vein called the Cieleto vein with high gold grades but no hobnobs. After that it was the 12rh and 13th feb this year with trenches for samples I would have thought with all the geologists they now have Nd the amount of samples taken they would k ow exactly where to place those drills and they advised they were sorting out the pads recently once funds and permits had been given. Looking forward to tomorrow (I hope) Ned.
Completely agree with you ToS, however can you develop your argument around LTH investors not believing they were investing in a future miner as ultimately there is no guarantee of returns or future direction when you invest in ANY stock/company. The future is bright the future is gold and orange!!! Possibly or it may all go to dust. I guess people have to do what's best for their own life plan. AIMHO
Copperpot, you say people need to realise they have invested in a future major, but... and please correct me if I am wrong, that statement is only true in the recent past, therefore for short term holders. Long term holders did not believe they were investing in a future major mining company, they believed they were investing in an exploration company, with the risk/reward profile that entails. Trust me, those who have held for over 10 years are under no illusions regarding whether this is a sprint or not. I know it isn’t personal, and please don’t be offended, but as one of the LTH it’s irritating to be patronised in that fashion.
I have tried to find without success a post by Ben W relating to a drill result outside (or do I thought) of Alpala where they used a longer drill and had a result of some 2800 meters. Perhaps they will now look to define those areas where there are epi thermal deposits as they have been doing rock sampling in number of areas according to past RNS,s. Does any one else have any luck in finding that post with that depth of hole. Ned
Morning copperpot Technically up to 6 furlongs is considered a sprint , a mile (8 furlongs) to 2 miles middle distance .... the jury is out on 7 furlongs.....totally agree with your point though , though I’m not sure NM will be allowed to follow his dream through
Seriously guys, in a financial world based on forward paper with no real interest in the physical, do you really think it will be that hard to gain debt based finance once the DFS is complete and $2.7bln has been raised??? This is how it works...
1. 2021 H1 End - DFS sorted. All funding sorted. Development begins. Production starts 2025/26. That's NM's plan (apparently). 2. 2022/23 H1 End - $100m in CB's to finance the progress of several look alike Alpala Tenements payable in 2026.
Once Alpala is all packaged up for development/production, SOLG can farm out stakes, forward sell with a number of channels or just go down the debt route. But first, they have to see if they have any Alpala look alikes. So give Nick and team a chance. The £30m+ will see these tenements (with permits) fast tracked over next 6 to 12 months (if SOLG still around) and in meantime, they are all potential growth / valuae accretive based on drilling results... something that helps protect against low balls.
I would prefer SOLG sold in entirety for 75p to 90p+ a share as I'm knee deep in this stock now with averages in the low teens. So I can be content with 75p+ even if 150p is possible further down the line. Some LTH's with averages nearer 30p+ would probably also be happy with 75P+.
But if NM wants to go the distance, then i'm happy to sell up a portion at 45p/50p and leave the rest to rumble along for a few more years.
Takeover offers are invariable a play against max potential over many years vs immediate cash payment in advance and risk free. The latter carries large discount as the buyer carries all the risk.
There will always be mixed camps in terms of the end game but what NM and team are doing is making sure that even if the end game comes in October/November 2020... they are doing their best to make low balls hard to pitch. Franco's inclusion, newcrest and BHP onboard are all the ingredients you need for a decent end game scenario. Mix in a little chinese sauce with some rio or Barrick interest and hey presto we are looking in fab shape.
And just for the record.. don't rule out the likes of Gina Rinehart. She was interested in SXX and she's bound to be very interested in SOLG.
will NOT be sold to fund the exploration of other tenements. This was stated quite categorically by Nick on one of the recent webinars where he responded to a question about using the sale of Alpala to fund exploration of the other high quality tenements in our portfolio. Nick gave several reasons why he was against this but the main one was the punitive taxes which would be payable if Solg decided to sell off Alpala as a single entity. Personally I was disappointed to hear this as like others the idea of using proceeds from Alpala to explore the rest of our exciting targets seemed a good plan. So not sure how or why the taxes would be so punitive if Solg tried to sell off Alpala but Nick couldn’t have spelt it out any clearer so for me this debate is over and it’s either Solg being sold to the highest bidder in its entirety or Alpala going into production and Solg using that as a catalyst to help fund the rest of its exploration in Ecuador.
yes I agree but I don't have time to wait I need to make good gains as soon as I can.im doing ok at the mo £70k this month alone and need to get my self sorted for retirement.goodluck to you sir. im sure I will return when im ready.
Been here many years and have done well, but time is ticking in so have sold out and gone very heavy into GGP.Maybe I will be back at sometime 2021 when NM has got his sh*!T sorted out.so many other stocks with massive growth potential on my radar now. Goodluck all.Thanks for all the info and laughs , RED
So who do we think the new investor will be tomorrow? $5m for around 18m new shares, less than 1% of the company. Not sure why NM is making such a big deal about it. I reckon it’s Franco getting on board as a share holder which would be good news. If Franco also bought out Cornerstones SolGold shares and 15% of Ensa that would keep things in NMs control. If Newcrest of BHP buy out Cornerstone NM is screwed!