Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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Lots of anger and push back at Rio Tinto regards their derogatory offer for turquoise hill, looking like a positive boost for solgold theses big boys are getting some bloody noses and will eventually have to start considering a fair price and value for our world class resource’s … happy days
Have a good and respectful weekend all
There you go Bally
@bally_969
Thank you.
Hi Bally
What’s your Twitter handle?. Slug banned for life lololol. I also had a fair bit invested in ctag so interested in anything you’ve heard …. We live and learn
There's a name we haven't seen for a while - KRSS.
It's a shame you're hear to cross ramp HZM. A stock with decent prospects but nickel is certainly not the new gold. Nickel will be infinitely more useful than gold.
We know what the capex is for the phase 1 PFS and we'll see how the updated study impacts this. The deposit is well within the boundaries of a block cave operation and this is certainly what the party that constructs the mine will do.
RK1 - if you're referring to the financing, then yes.
So many twists and turns it's hard to know what's good or bad. For instance... if we struck big on RIO's first hole, would that have triggered BHP into action? Would that have seen us taken out without PFS and Porvenir PEA? I was always invested in SOLG based on two key catalysts... 1. ENSA/Alpala sale or entire SOLG sale and 2. Exploration with RIO being my main interest.
So like many on here, I'm pretty miffed to see that last $78m funding round deliver almost next to zero exploration. That's the sore point for me. A company can't go to market saying they need funds to explore and they have 6 tier 1 style targets and then 12 months later do zero yet burn through all the cash on salaries and jetting around the world doing presentations that are like something from Jackanory. Devoid of reality and full of dreams! Where's the $78m gone Darryl??
Once again...2.1/2 hours in and even worse volume than yesterday...35 trades...£56k...
Is everybody simply just waiting for what they regard as the inevitable...?
Mathersfinger you won't get any abuse from me, as you are sticking to the facts.
I dare say some of the fantasists on here that believe we are getting a bid based on a story from Berry Street capital may indulge. But what do they know.
I think I agree with pretty much all of that . Having said that we’d probably be in a stronger bargaining position had our last attempt to raise funds not failed :)
Surveys are under way, they have stated this, it’s not exactly a walk in the park, it’s up mountains and through forests with some equipment and food and all.
Stop being so short sighted and moaning at every ruddy possibility, you cause your own problems worrying all the time, don’t know if you’ve noticed but world is in a bit of turmoil at the moment lol
Will wait for the abuse as usual, 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.
SolGold is investigating a number of strategic initiatives to provide the Company with funding options for the development of Cascabel and progression of regional projects.
DBW, we did have a period a while ago (18months) whereby we had numerous exploration drills underway. With each hole result, the market just shrugged it off as if it was irrelevant. Porvenir Hole 1 was the only time I think I've seen the SP leap into life. The share price rose from 28p to test 43p+ on that Porvenir discovery. Yes wouldn't we all like events like that one again?? But the truth is, even after the event, the market just deflates interest. It's like Porvenir never happened. It's like valuestone didn't invest $5m+ at 32p in Porvenir alone. FWIIW... it's highly likely that Porvenir will be SOLG's (or some partners) first producing asset. It's perfect for a solaris/lundin partner deal as all the infrastructure is there. Personally, I'd see NCM more interested in buying into or the full 100% of Porvenir than getting involved in full on Alpala.
I think it's fairly obvious now why SOLG haven't done any partner deals or farm outs on grass roots. The conclusion is that BHP want it all and SOLG know that. So are literally baby sitting these blocks until BHP makes their move. Why they would do this is anyones guess... but perhaps any monetisation of the assets or relinquishment of ownership etc is a condition of BHP standing aside and letting SOLG soldier on and prove up Porvenir and Alpala to full potential. Sometimes you have to scratch the devils back if you want to live a bit longer?
We are funded to the end of the year. We will successfully fund raise before that. So it's not we got no money.
Think back to what Darryl said recently. We bring Alpala to DFS and funding options open up for us. This to my mind means loans, offtake and minimal dilution.
He couldn't be any clearer. We are concentrating on bringing Alpala to production.
Yes of course once we have obtained the funding, we will then fully restart our exploration program.
But that will be funded differently.
Ahhhh that clears that up ….. there’s me thinking it’s because we’ve got no money ( yet) to progress our drilling programme.
That's the point DBW the company has explained why we have drastically cut back on our drilling program. It's so we can bring Alpala to production.
Really how many times does Solgold have to make this announcement before it sinks in.
Could they have stopped drilling because they are running out of money and the wages still need paying.
Eaking out what they have left until somebody makes a bid.
“Solgold is a leading exploration company “
Someone once told me we should believe what the company tells us ….. so maybe you should tell us why we have suspended “most” drilling ?
Is it
Then please DBW explain to people on here why we suspended our drilling program to bring Alpala to production.
Or are you denying that is what we are doing.
Exactly Eish
The main header on the website begins
“Solgold is a leading exploration company “
So first and foremost that’s what we’re supposed to do …. Leave the development to those who know their apples
Eish in 2015 we announced that we were switching from an exploration company to becoming a producer.
Yes we still explore. But the focus is on bringing Alpala to production.
So much so that we have practically stopped all drilling to advance Alpala.
This is the news we await. As we head towards the revised PFS and DFS middle of next year.
For once we seem to be on schedule.
Gold and copper blown through resistance...next levels $1740 and $3.60
There was an ordinary person outside Buck House last night who summed it up for me...
"She was everyone's grandmother..."
Up there with Nelson Mandela as among the greatest, most gracious people who ever lived...
Metals on the UP ($)
Gold 1,737.40 +17.20 +1.00%
Silver 18.758 +0.316 +1.71%
Copper 3.6060 +0.0503 +1.41%
Add agreed .... we need to either sell Cascabel (or the lot) or get into bed with a wealthy partner.
Personally I think the Chinese could still have a part to play here. BHP still favorites to get this (assuming they want it) but it'll probably take a 3rd party to sting them into action.
These things often (nearly always) come out of the blue and you have to think the board must have a plan ..... if they don't they might as well walk away now
Eish, I understand why we embarked on the land grab, but it was not a particularly sensible strategy. As a small explorer, we were never likely to be able to finance the exploration of all the concessions. We bit off more than we could chew and it's my belief this has held us back, in as much as it has made us look a bit unfocussed. The fact we've not be able to convert any of the supposed interest in jvs has added to this lurking suspicion.
As someone pointed out the other day, we need $450m to meet our exploration commitments, and that simply ain't gonna happen.