Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
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Add - agree.
To be honest the stamp duty threshold uplifts is something that could play into my hands personally but the first thing I said to a work colleague was what are they doing on the other side of the equation.
You simply have to tackle both sides or none at all.
Fair enough LunchMoney, but you have that.
Solgold have said that most exploration is on hold while we get to PFS/DFS for Alpala.
I dare say we will restart in the near future.
Who knows maybe after the funding is arranged for DFS or further on down the line when we have a CFP for Alpala.
Quady, Everything you use as "sense" isn't relevant in the next few months, being proactive doesn't mean "planning to", "looking at".
No drilling, no funds raised, no plan going forward based on the company's current situation. Only old news that at present levels of funding aren't possible.
Wishing it was so won't make it happen.
As Bubble2021 said "Although you are going to see some news soon imho"
We need some news based on the current situation.
Mathers - if the SP was at 38p now the company would be doing its job far far better and there would therefore be much more goodwill from investors.
It really is as simple as that.
I've got to wonder what it will take for you and Quady to actually realise something isn't right here. A PFS addendum slippage maybe or a SP sub 12p? You tell me.
Addicknt,
Why? Would all the previous moans about the B.O.D be gone, their lack of communication not be a worry anymore? All the other concerns you like to go on about have suddenly disappeared?
I could go on, but you have told me all I need to know from you, as a so called ex businessman you should know you cannot please everyone, especially a moaning whinging person whom has no understanding of things the BOD’s can say and some things they cannot say.
Well that amuses me, your answer was what I really expected, atb
Do you honestly think if we had someone else in charge the share price would have stayed around high 30's after the PFS?
It seems like whoever is in charge are going to having problems dealing with the 2 big shareholders. who's to say they wouldn't have tried the same fund raising option as DC, maybe that was best for the PI's but the big 2 didn't like it.
For me whoever took this job last year are on a lose lose especially with people on this message board.
I'm in total agreement with Mather and Quady, I'm well down on my investment with an average price of about 23p but no point moaning constantly about it and inventing stories day after day, we know news is coming very soon at that, so lets just wait and see what they have to say :)
Have a nice weekend all :)
Although you are going to see some news soon imho
Jezzo agree re management
MF, to answer your question; no I wouldn't be complaining if the sp was 38p, but it isn't, is it?
Let me ask you, if the sp was at 38p now, would you be complaining about the company?
Would you be demanding to know what is going on?
Well I will repost my earlier post, it’s there if you wish read it, all things take time especially in very difficult terrains
28 July 2022
SolGold plc
("SolGold" or the "Company")
Business Activity Update
The Board of Directors of SolGold (LSE & TSX: SOLG) is pleased to provide an update on the progress of activities within its exploration portfolio and the Cascabel project.
SolGold's regional exploration programme is focused on a number of highly prospective projects where extensive and systematic geological and geochemical field programmes are underway to rank the priority drill targets, notably at the Company's Porvenir and Helipuerto projects located in southern Ecuador.
Porvenir is the Company's second priority after Cascabel and SolGold has engaged M3 to progress the Porvenir project Pre-Economic Assessment ("PEA") that is on track for completion by year-end. Additionally, field programmes are continuing at numerous satellite targets to the Cacharposa deposit that comprises a Mineral Resource of 397Mt at 0.44% CuEq in the Indicated category and contained metal content of 1.40Mt Cu and 1.80Moz Au (1.75Mt CuEq). Cacharposa is the second Resource to be defined by SolGold as part of its strategy to define a multi project portfolio over the length of Ecuador.
Regional exploration activity has identified the Helipuerto project as the next most important target for the Company. The Helipuerto concessions lie on the southern margin of the Solaris Resources discovery at Warintza where Solaris has published an in-pit Mineral Resource of 579Mt at 0.59% CuEq in the Indicated category. Geophysical, geochemical and geological analysis indicates extension of the Warintza system into SolGold ground and SolGold is expediting the delivery of drilling and environmental permits to drill test extensions to the mineralised system. An initial focus at Helipuerto is on the delineation of the size and tenor of the Tinkimints copper prospect including mapping and sampling of the area directly south of Solaris's Warintza copper-gold porphyry deposit.
They are busy, atb
Bozi, agreed. That budget was meant to be totally revolutionary and pave the way to the sunlit uplands of a vibrant, free market economy. It did no such thing and merely tinkered around the edges...just like most budgets. And as for reducing stamp duty...We have a disastrous situation whereby millions of youngsters can only but dream of owning a home, so what do you? You pour petrol on the flames. Unless they government actually bites the bullet and removes the archaic planning laws, particularly in supposed Green Belt areas, such as the one which encompasses Leeds, supply will never meet demand. So how does this government address the issue? It decides to increase demand. Genius!
So Jezzoo the management are preparing the PEA for Porvenir, They are updating the PEA for Alpala, they are planning a cash raise to get Alpala to DFS.
They are looking at funding options to get us to production after DFS. (BFS maybe required)
They are looking at the engineering resources we are going to bring on board.
They have communicated everything when required.
Why are the management lazy and non proactive.
That statement makes no sense.
"Ecuador politics rock solid"
That has cheered me up no end after Kwarteng's disasterclass of a mini budget.
Fort, you make some reasonable points, but in my opinion it's not possible to disconnect the events of the past few months from the precipitous share price.
I'd say 75% of the low SP is down to management (in)action, the rest is probably down to world events.
Sterling was 111c US this morning, does the copper price have a basis in US$ ? I'm only basing it on the way oil is traded
I'm not sure TBH but if that's the case the value of a LSE listed copper based company should be 20% higher this year in theory. Less the lower POC of course expressed in a % and world events listed elsewhere.
All in all SOLG is massively undervalued due mainly to lazy and non-proactive management.
All IMHO
"enormous impact on market confidence"??
addicknt, where did you get that from?
Is that you extrapolating due to low share price? The share price is low as market sentiment seems low. Why do you think NCM are near sp lows. Many others too. Putting that aside, SOLG's liquidity (stock) has been poor for months if not years now. Volumes only really increase (as does the share price) when you have II's like Norges or Blackrock buying. The recent RNS on funding talks has without a doubt put a hold to any buying by Norges or Blackrock et al. Why would they if they have been told funds are required. They will just sit on hands and await the fund news and then either take up offer or if royalty deal, they will then recommence buying again assuming that's their plan.
SOLG could be pumping out great RNS's and the Board could be holding hands and dancing around the table but I'm afraid if the market thinks you need cash it's going to discount your share price. That's how it works.
Nothing to do with 'confidence'. The asset is rock solid. Copper demand rock solid. Ecuador politics rock solid. Everything is fine... apart from the funding and the market is taking a gamble and saying.... we think you'll need to raise via equity issue and we'll discount you accordingly. End of.
Less drama... more reality.
If you remember, SOLG was 17p levels back in 2019 (11th October 2019)well before Covid broke and delivered the 'end of the world' low at 12p levels.
We've been here before and we always seem to be hitting the 40p levels months after. That's SOLG for you.
I'm quite chilled as am here for the end game and doesn't matter whether sp is 17p or 34p right now... the takeover offer is likely to be the same simply because Mather et al won't be selling unless a certain number is hit.
Finally, look at the volumes on the share price fall from 21p to 17p. It's not even £100k in cash being spent most of the time. It could be beer money pi's turning stuff over and even they would break 1m share traded between a handful of them. It's pony volume and the share price should not be suddenly transformed into 'enormous impact' or 'we're doomed' or 'SOLG towers in crisis'. Look at the BIG money. It's going no where. What does that tell you????
Why shipright what have I said that's incorrect.
In that case Quady you need to take your head out the sand
Sorry Bozi I disagree, no way is my post patronising.
I don't believe the current share price is anything to do with what management have done.
I believe it's down to unrealistic expectations.
We have a world recession coming, we have a war in the Ukraine.
We have China in a debt crisis.
We have trillions exiting stock markets all over the world.
On the local front.
We have people buying when they believe we get a takeover and selling when they don't believe it.
I have now said this over 100 times.
Our volume is terrible. We cannot even get 10 million a day everyday and even then more is required.
Share price is down for many reasons, but I don't see any of it being down to Solgold management.
In the past 3 months, BHP and ANTO are down 11%...
SOLG is down 50%...
How about a Solaris/Solgold partnership for Warintza/Helipuerto...or even an outright sale...?
https://www.solarisresources.com/company/company-profile/
"Solaris is managed by the Augusta Group, which boasts an unrivaled track record of value creation totaling over C$4.5B in exit transactions over the last decade, and has strategic partnerships with the leading entrepreneurs in the mining sector."
https://www.solarisresources.com/projects/warintza/
Morning Quady
I have to admit that is a patronising post.
There are investors who are huge amounts of money in the red, partly in due to the questionable actions of SolGold management.
Please don't tell them they need to be patient and need to forget the share price. It is of course beneficial if you can, and you can be personally satisfied that you can, but not everybody can.
You may be happy with the company's communication but not everyone has to share that view. I personally see both sides of the coin on this. I'm happy the company has delivered on the previously stated deliverables but I have no qualms with anyone who expects more frequent updates on the business generally.
Part of the share price decimation is due to sector weakness but part is due to company management foul ups. Any company in the market should be positioning itself to recover quickly and substantially when the worm turns, but unfortunately, SolGold's weak treasury and board uncertainty will both be continued drags on the share price.
Maybe if you want to understand Solgold you could do worse than read Mathersfingers post, reminding us that we have had all relevant information and that we have a pathway laid out to the end of the year. ( No more communication required till year end)
We just need to be patient.
We get the PEA for Porvenir.
We get the updated PFS for Alpala.
We get the funds to hopefully take us to DFS.
Then funding options open up for us, in order to construct Alpala and bring us to production.
Solgold have communicated fully with us. They have preformed well and are doing everything they said they would.
Trouble is some people on here thought we would get a bid, and although it's taken years, they are starting to slowly realise that we are going all the way and we can defend.
As for the share price. Forget it, it will recover in time.
"Markets are markets... they make no sense most of the time. "
Shortly followed by:
"The last time SOLG went into a PFS RNS, the sp was 40p and 36p on the day of the RNS. The PFS2 is expected to be better than the first PFS. So logic says the market will repeat itself?? Why wouldn't it? Nothings changed."
You tie yourself in knots sometimes Colonel :)
addicknt, we're just left guessing and hoping that something is going on behind the scenes. I'm refusing to get my hopes up this year as this lot are masters of disappointment, but you never know, maybe Darryl will prove himself to be a Harry Houdini of sorts and get us out of this pickle.
Shipright
They are doing something as per the RNS, it’s all there if you care to have a read, atb
28 July 2022
SolGold plc
("SolGold" or the "Company")
Business Activity Update
The Board of Directors of SolGold (LSE & TSX: SOLG) is pleased to provide an update on the progress of activities within its exploration portfolio and the Cascabel project.
SolGold's regional exploration programme is focused on a number of highly prospective projects where extensive and systematic geological and geochemical field programmes are underway to rank the priority drill targets, notably at the Company's Porvenir and Helipuerto projects located in southern Ecuador.
Porvenir is the Company's second priority after Cascabel and SolGold has engaged M3 to progress the Porvenir project Pre-Economic Assessment ("PEA") that is on track for completion by year-end. Additionally, field programmes are continuing at numerous satellite targets to the Cacharposa deposit that comprises a Mineral Resource of 397Mt at 0.44% CuEq in the Indicated category and contained metal content of 1.40Mt Cu and 1.80Moz Au (1.75Mt CuEq). Cacharposa is the second Resource to be defined by SolGold as part of its strategy to define a multi project portfolio over the length of Ecuador.
Regional exploration activity has identified the Helipuerto project as the next most important target for the Company. The Helipuerto concessions lie on the southern margin of the Solaris Resources discovery at Warintza where Solaris has published an in-pit Mineral Resource of 579Mt at 0.59% CuEq in the Indicated category. Geophysical, geochemical and geological analysis indicates extension of the Warintza system into SolGold ground and SolGold is expediting the delivery of drilling and environmental permits to drill test extensions to the mineralised system. An initial focus at Helipuerto is on the delineation of the size and tenor of the Tinkimints copper prospect including mapping and sampling of the area directly south of Solaris's Warintza copper-gold porphyry deposit.