London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
You will only have one login account. Registering with multiple accounts is not allowed. Any user found to have more than one account on this site will have all, and any future accounts suspended permanently.
Your email and password must only be used by you. If a post is made under your account, it will be considered that it was posted by yourself.
Your account nickname must not be the same, or contain, listed company names or board members' names.
While debating and discussion is fine, we will not tolerate; rudeness, swearing, insulting posts, personal attacks, or posts which are invasive of another's privacy.
You will not;
discuss illegal or criminal activities.
post any confidential or price sensitive information or that is not public knowledge.
post misleading or false statements regarding the share price and performance. Such posts are deemed as market abuse, and may be reported to the appropriate authorities.
post any private communication, or part thereof, from any other person, including from a member of the board of directors of a listed company. Such posts cannot be verified as true and could be deemed to be misleading.
post any personal details (e.g. email address or phone number).
post live price or level 2 updates.
publish content that is not your original work, or infringes the copyright or other rights of any third party.
post non-constructive, meaningless, one word (or short) non-sense posts.
post links to, or otherwise publish any content containing any form of advertising, promotion for goods and services, spam, or other unsolicited communication.
post any affiliate or referral links, or post anything asking for a referral.
post or otherwise publish any content unrelated to the board or the board's topic.
re-post premium share chat posts on regular share chat.
restrict or inhibit any other user from using the boards.
impersonate any person or entity, including any of our employees or representatives.
post or transmit any content that contains software viruses, files or code designed to interrupt, destroy or limit the functionality of this website or any computer software or equipment.
If you are going to post non-English, please also post an English translation of your post.
If you are going to post non-English, please also post an English translation of your post.
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium and Verified Members
Premium Members are members that have a premium subscription with London South East and have access to Premium Chat. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Good morning ColonelDrake, always enjoy reading your posts, but your last one is mad. I think you must have been on the Whiskey, while watching Pretty Woman. Where Richard Geres character holds up a deal during appropiation, so they run out of money. If Franco did something like that, their reputation would be mud, and they would be finished. No one would deal with them.
I read the reports and the only large holder that was clearly not happy was Newcrest. I think the reporters just threw BHP's name into but I couldn't find a quote from BHP saying they were unhappy or words to that effect. Could you post their quote as I must have missed it.
In terms of some on here thinking the large holders might be having a rethink on this... just bear in mind the potential scenario of BHP calling Franco and saying.... find something you don't like on site visit and we'll then see you ok.. words to that effect. Dirty business goes on and that would be put NM in a corner for sure. So if you think BHP want SOLG and want to play dirty to get them... then why Don't BHP just work with Franco and get the Stream cancelled?
That wouldn't bode well imho, so best hope that Franco deal concludes as planned and no one interferes
Good morning RichyRich1, the 4.4 billion figure is NPV, the NAV is 3 billion. So as 10% is normal for PEA, we should see an increase in share price, as we approach PFS. However in saying that, these things don't always translate immediately.
Yep nav is net asset value so the value in the ground a much bigger figure..npv is the net present value which is the much smaller one...generally npv is the import one and nav is less used as it's less useful, the article is maybe trying to big it up by using nav but it still proves the point 're now little value is being subscribed currently.
Sorry rich it's not npv it's nav...they are very different. One is the value of the asset in the ground, one is an economic calculation at an 8% discount to figure out economic return on capital over LOM
Am I missing something here? We are currently valued at 0.1 of NAV so 10% yeah? If NAV is $4.4B that equates to roughly £3.6B. 10% is £360m. Our market cap is £500m so more like 15% of NAV. Considering we haven’t released our PFS when we should be valued around 25% of NAV current valuation is about accurate?
Govts are more wary of majors, not least because they have a habit of taking longer to do things. Rio have a bad reputation for sitting on things, but we also saw with newcrest that they would be happy to string out the drilling a couple of years. Ecuador etc need these things asap so they contribute to the coffers. Also majors tend to employ less local staff, I can't think of a single major with solgs track record of local country employment particularly of skilled staff.
Ha Add I used to live in the West Country for a period and one pub had fraught pumps of cider . The labels read Supping cider Sleeping cider Fighting cider ( please drink outside) Probably not allowed now like most good things in life
Morning addicknt, I'd had a few Bushmills yesterday evening, and still a tad groggy...lol. I agree with you when you say that Ecuador would love a major on board, and why wouldn't they! I feel mining (big time) in Ecuador is at a very delicate stage and would be accepted a lot more with a smaller outfit like Solgold involved at this early stage. With regards a major getting things done quicker, I can't really disagree with that comment, however, don't under estimate Nick and the team! If the government would prefer Solgold to develop Alpala, permits/licenses could very well be issued pronto from now onwards to expedite mine construction etc. Nick himself would also want Alpala up and running asap just like the government. He desperately needs a nice income stream coming in to finance further exploration! Take care addicknt, have a good day matey!
They announced about 8 weeks ago that they had numerous interested parties and that they were short listing the offers of finance. It was a robust process and they ended up going with Franco. As processes go... it was about as thorough as you can get. So 'no', there will not be any changes to the stream deal or other offers replacing it. SOLG need to get moving ASAP with the pre development planning as the timelines are important especially for Ecuadorian gov who need this in production by 2025 planned date as it helps with IMF payment deadlines and dollar issues.
Mather and team must move like the clappers otherwise if things slip, then Ecuadorian gov gets edgy and that's when 'permits' become elusive all of a sudden. NM and Mining minister get along just fine, but Ecuador need this development producing in 2025 and I imagine they want to forward sell their royalty/rev interest too at some point!
Finally, just to clear up the BHP issue. BHP can bid for SOLG if 'another ' party bids first eg, if Newcrest or Barrick make an offer, then BHP can counter offer. If no one else makes an offer, then BHP cannot make an offer unles Mather is happy with it and there's no way he's going to be happy with it as the best offer will be one that is pushed to the bid process by having an auction of interested parties.
There's alot to do over the next 4 months in derisking Alpala with permits, land acquisitions, water issues, local issues and so on. Go back and read some of the RNS's. What do you think the $150m is for??? Twiddling thumbs? It's required because certain potential issues to development plans need to be cleared up first... eg bought.
The likes of BHP will want to see all these issues around development plans cleared up and so they will be quite happy with the fund raise as they will benefit in the long run.
Fail to get all the pre development issues resolved and that's when delays occur and Government will be come edgy especially going into 2021 Feb Elections. Lots to do and the faster the better. Hence why the bridge loan was agreed, so Mather can crack on while the ink on the $100m dries.
copperpot, I'm sure you're correct to think Mather has bent over backwards to appease the government, despite this not being part of his nature. However, I'm not sure I agree with your point about the majors. It may have been accurate years ago, but they've all had to change the way they do things and are now every bit as solicitous as anyone else. They know which side their bread is buttered. The other point is a more practical one. I'd bet the government would be perfectly happy with a major taking this on. It would guarantee production will happen and would almost certainly mean it would be done quicker and without the problems a small business is bound to encounter. In other words, they'll start getting tax revenues much earlier, and after all, this is the only thing they're interested in.