Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
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:
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 Members are members that have a premium subscription with London South East. 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.
Quady, I will obviously have to spell it out to you.
You said that NC said they were not sellers and comfortable with their holding in Solgold, in the last year. RK proved to you that it was said in August 2020, so two years ago. Presumably you still believe what was said two years ago, holds good.
You also don't understand the difference between renumerate (essentially re-counting, but not really a proper word at all) and remunerate (payment for work done). You can hide behind mild dyslexia if you choose, but most dyslexics would choose spell and grammar check if only to reduce the ridicule.
NC are sellers of Solgold at the first sign of a corporate buyer. IMO.
If the major shareholder disagreement is as simple as... we want an equity raise and we don't want royalty deals in the mix at all then surely the Lower the share price goes the stronger SOLG's argument becomes to go down the royalty route as equity raises at 20p or 21p are far too dilutive.
I know the market gets it wrong constantly and over corrects in both directions but it's almost as if the 'market' is forcing SOLG to go down the royalty route or alternative to equity raise. Sometimes trying to be greedy and push the sp down to get a cheap equity slice can in fact work the wrong way for you. If the sp was bouncing all the way back to 30p levels (remember, black rock were happily buying back their instruments at 33p/35p ranges not long ago), then most would suspect a bid coming when potential the opposite could be tabled, eg a equity raise with the big two but at 35p in exchange for what though!? Mather to retain seat at AGM or BHP to agree to lock in deal until end of 2023?
God help us!!
I won't be putting anymore in, this company is duller than a Beer Starmer speech.
Get it sold solg
redknight was deramping this company so hard last week. All of a sudden he is bullish again. What a twit
For those articles RK
R's
BN.c
Unfortunately, even at this price I won’t put any more money back in…
Anyway lads, why don't we stop this bickering and change the subject. Who is going to join me in a trade with solg? Has anyone noticed the SP loves to bounce of this level over the last 5 years?
The way you lot go on about Quady and let Redknight get away with using words like moron and mentioning Oh I have friends on here unlike you( ok he may be joking but i don't think so), I don't know anyone on this board but have I have been reading it for over a year now and I think poor Quady is unfairly treated. Redknight come across as a pompous pr... , horrible horrible person and the kind of human I would hate to ever have any contact with.
As much as I hope Quady is wrong (and we get a bid ASAP) he sticks to his guns and he gives a better argument then some of the made up stories from CD( Fortissimo) and others.
As for Newcrest likely to sell, surely they won't want to take a loss on their investment? They might not add but I can't see them just giving their shares away cheaply to BHP.
I agree with nearly everything Matherfngers says just wait for a RNS for factual news rather than trying to spin every little bit of news into a bid scenario.
I had to laugh at 2 days ago the TSX was down and people rightly said it doesn't matter and won't affect the opening the next day but then yesterday when it was up 25% people started posting it was positive and we could see a boost in the share price today or some news.
Anyway good luck to all who is invested ( i'm not sure who actually is) and have a great weekend, I'm going to try and stop reading this message board as it's just a pure waste of my time. If anything in the past it's cost me money and when I was thinking of selling i didn't because of FOMO after reading the drivel here :)
p.s. all we need down are some 1 trades for bubble to wet himself again :)
Well said Fortissimo - a directors duty is to all shareholders not just the biggest
Green boxes !
Massive Quay must about getting folk's backs up.
You can tell it's Friday.............
Lot of green stripes...the moron has been removed, so let me guess who it is and what his favourite subject is...?
Does he understand the filter button...?
"by bringing in select JV partners."
Yes but Darryl... you've been saying this (or SOLG has) for the last 2 years and you've delivered zero partner deals. Either they don't want a slice of the most sought after region in South America or it's you guys failing to follow through with the deals presented to you??
I believe there's bags of interest but for some reason you guys are dragging your feet... the question is why?? Could it be because there's a big shareholder (or two) that doesn't want to see these concessions going to other companies??
About time the majority of shareholders were looked after the obstructive and destructive pair be shown the door.
Redknight sorry when I named you Bobo the clown. I got it so right.
You haven't got me on filter. Everyone knows that.
Also you take the Mickey because I am mildly dyslexic.
What a nice chap you must be apart from a fantasist.
That was fast. Many thanks to admin.
I see our woman hating rac.ist is back.
Could you chaps in admin please remove the most unintelligent poster on here.
Many thanks.
Early start to the weekend, don't know why you bother, everyone just puts you straight on filter and you talk to yourself.
Okay remember everyone, Redknight has changed tactics again. He says bid by Christmas and Solgold will not go to production.
I am a patient type of fella. I guess I will get my apology after Christmas.
Aha...Slug is back...
Anyhow...Quady obviously thinks he can win sympathy by posting rot about me in the blind belief that I don't know what he is saying because he's filtered...
So...to disabuse you Quady...I have friends on here (unlike you...ouch...sorry Quady mate, that was 'harsh but fair')..
To be crystal clear:
The detailed stuff that I have just posted from the LatAm Report is VERBATIM (is that a word you understand Quady mate...?)
I have offered no opinion.
However, my position could not be more clear from my snippet on Valuestone...so let me put it in Caps to make it easy for you, Quady my old mucker...
CASCABEL WILL NOT BE TAKEN TO PRODUCTION BY SOLGOLD
And for those that take the time and tolerable to read my posts (thank you by the way)...my OPINION is that Solgold will be bid for "by Christmas at the latest."
So I'm really genuinely sorry Quady m y long time buddy, but there will be no apology...
You'll get over it...bye for now...
Jerry that doesn't even make sense.
If you are on about JV of tenements that has been talked about since 2018.
The main part is we intend to become a producer by bringing cascabel to production. That has been talked about since 2015.
Even you who tries to warp everything I say, surely cannot deny this.
Actually what am I talking about of course your find a way.
I see that Quady, who likes to 'renumerate', has just renumerated two years ago to 'within the last year'.
With such deception and no remorse, a new career in politics beckons.
So Redknight has moved from a position of saying I didn't know what I was talking about, to completely agreeing with me. And insulting me along the way.
I have not changed my position, as I still believe that taking Cascabel to production is the most likely outcome for Solgold.
I don't suppose for one minute he will apologize to me.
This bit is particularly interesting for a couple of reasons...
Putting together a bankable feasibility study by the end of 2023 is entirely in our hands, so we know the market will judge us on our ability to deliver that. “Our number one priority is Cascabel and the second is Porvenir”, says Cuzzubbo. “Cascabel will generate $1.3billion of free cashflow per annum with copper at a conservative price of $3.60 per lb, so it can definitely berth a multi-asset operation. We would like Porvenir to be open cut, so it could be up and running earlier than Cascabel and get cash flowing.”
And...
“We will run out of copper in the second half of the decade”, says Darryl Cuz- zubbo, CEO of SolGold, a London-list- ed junior that is developing Cascabel, one of the world’s largest new copper projects. “Wood Mackenzie estimates more than a five million tonne shortfall in mined copper supply by 2030. To give you some idea that would require building at least five more operations like Escondida – the world’s largest copper mine – by the end of the dec- ade. We haven’t even found five mines like that, never mind built them.”
Governments and companies have made lots of bold carbon reduction commitments in recent years. The trou- ble is that these pledges haven’t been backed up by concrete steps to increase metals supply. “Lots of countries have made commitments to become net carbon zero, which they can’t do without having a reliable source of copper”, says Cuzzubbo. “Events in recent years have demonstrated the importance of having secure supply chains, which will place even more of a premium on copper. I actually think that Wood Mac- kenzie’s estimate is conservative. If you look at climate change the anxiety and political pressure to complete the en- ergy transition will increase with every extreme climate event. When you look at how rapidly attitudes have changed over the last twenty years, you can im- agine how it will be by 2030.”
There's also an interesting article on financing these major projects...here is the link to the 3rd Qtr issue of LatAm Investor..
https://latam-investor.com/wp-content/uploads/2022/08/LatAm-INVESTOR-Q3-2022.pdf
But lets let Wood McKenzie have the final say...
"According to Wood Mackenzie, annual capex on mining projects for energy transition metals peaked at $120billion in 2012 and is currently less than half of that. Over the next decade investment in new future-facing commodities will have to consistently exceed that $120billion figure if the mining industry is to provide the metals needed for the energy transition. The range of innova- tive mining finance solutions discussed in this article, will help that happen. They also provide new ways for inves- tors to gain exposure to the coming clean metal super-cycle."
Cascabel will generate 1.3 billion a year in free cash flow at 3.60 per pound of copper.
And people here say we can't raise 2.7 billion dollars.
Really, and I am the one that is incorrect. Not only can we raise the cash, but we will be paying a dividend in the second year of production, if not sooner.
And...
New projects
Retroactively cleaning up existing mega mines is vital to reducing min- ing’s GHG emissions. However, given the world will need to rapidly increase copper production, any new mines also have to be low emitters. Darryl Cuz- zubbo, CEO of SolGold, a London-list- ed junior that is developing Cascabel, one of the world’s largest new copper projects, believes that new jurisdictions like Ecuador have an advantage in this new era of low-carbon mining.
“Ecuador can be a leader in sustaina- ble mining but it won’t be easy. There are challenges in the country. But I al- ways think back two decades, to when BHP Billiton built one of the world’s most technically-advanced aluminium smelters in war-torn Mozambique. The country had just emerged from years of civil war and had practically none of the relevant skill sets. But Billiton, as it was known back then, worked with the locals to create this world-class opera- tion. Indeed, sometimes having a fresh jurisdiction, with none of the bad prac- tices of older mining, can be an advan- tage.”
It’s not just new jurisdictions that have the advantage. Mining projects being designed now, tend to have a much lower carbon footprint than projects 20 years ago. “We believe we can make Cascabel the lowest carbon intensity copper mine ever built”, says Cuzzub- bo. “It will be connected to hydro pow- er, while the concentrate will be sent by pipeline downhill. The water will be self-contained to avoid contamina- tion. We will have a heavy bias towards electric vehicles underground, which will further reduce emissions. These facts will help us bring NGOs onboard. Indeed, it already helps that we have a great example of responsible mining in Ecuador with Lundin Gold.”
Large new projects, like Cascabel, that can deliver globally-significant amounts of low-carbon copper are needed to fight climate change. The trouble is that in the last ten years, community protests and unclear govern- ment rules have made it harder to build new mines across the world. Meanwhile falling copper grades, mean operations are likely to use more energy per lb of copper produced.