Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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Morning rcgl2, if memory serves me drilling was suspended in January in order to further Alpala to find areas for the construction of plant equipment. ( I forget the term used ).
Also I believe we are still drilling at Tandy. ( I could be wrong ).
This was to concentrate on Alpala and reduce the cash burn.
On the current cash position on Solgold I am guessing this is why we have not had a cash call for the regionals.
Also was the Franco Nevada offtake agreement to get Alpala to PFS or DFS?
I seem to remember it was DFS, but again could be mistaken.
People have mentioned a few times that Nick Mather might be in trouble at the next AGM or won't survive the AGM if Solg put the whole board up for re-election as promised. Watching his DGR presentation I am actually wondering if he doesn't care or in fact might stand down anyway from Solg. Seems like he firmly has his DGR hat on now, rather than his Solg hat, hence his shift of attitude from production to corporate action.
In his talking points about ways to unlock value in DGR's portfolio, if he was being consistent with his own former statements, he would have said something like "PFS upgrade soon, DFS next year, first production in 202X"... That's the line Solg is taking. But he didn't say that, said corporate action.
I'm also intrigued by the comment from Fawzi (thanks Orthern) 'exploration drilling at the regional projects was paused in January and has not been restarted as the exploration team are undertaking extensive field programmes'. What does this imply? Have they not been getting the drill results they expected from the targets they did start drilling, and are now having to go back to the drawing board in terms of modelling and deciding where to drill? Or does it mean they have had to focus on bringing some of the other licences in the portfolio further along the curve to get them "drill ready"?
Could this be why they still haven't announced any JVs for the non-priority licences, because interested parties just didn't think they were far enough progressed in terms of early exploration for them to commit to starting to drill them?
Or are these extensive field programmes happening on Cascabel or Porvenir or other priority targets to try to model the entire licences better in advance rather than have the somewhat haphazard situation they have had at Cascabel where they keep finding new areas of mineralisation beyond Alpala?
I wish they could be clearer in their communications. I don't think we have officially been told that exploration drilling has been halted across the entire portfolio. IIRC Darryl mentioned in a presentation that it had been suspended at the start of the year due to covid... There has been no real clarity on what's going on from the company, and then we get the usual vaguely cryptic answer from Fawzi about it being suspended due to field work, with no further colour.
Rcgl2 I have just looked on advfn and rougepierre hasn't posted either.
Like you I hope he is okay.
Where is Redknight, he hasn't posted for weeks... Red, are you OK?
Probably Redknight has purchased the three shares. I dare say he has been deliberating for weeks over this major purchase to add to his portfolio.
a record? One and half hours into trading and only three shares traded.
Morning Bnc....still here lurking with the tumble weed...lol
Pinot
:0)
Morning all....a light hearted coffee and biscuit watch
Keith Barron founded Fruite de Norte and has explored Ecuador and South America for the Cities of lost gold for quite a while. He has great enthusiasm and has acknowledged Alpala from early days. His company took on Steve Garwin as an advisor in April this year, To the South of their tenements you can see Porvenir mapped and Alpala gets a mention on the diagrams too. He describes the geology and a few other things for me really well so thought i would share.
I'm not invested there and of course don't open if not interested as its another company. [that i'm not promoting }
http://www.aurania.com/vric-2022-presentation/
Pinot
:0)
MF, I agree with that and although I admit to being a tad frustrated, I'm not tearing my hair out.
The fact is the company has no option other than to do something reasonably radical. If they wish to avoid further disruption they must deliver on their promise to CGP. As you say, yet more patience is necessary.
Mathersfinger that's true just sit back and wait was hoping for news this week on some fronts but patience needed and chill blue day today I think
Addicknt,
The trouble is we don’t know what they are doing, we are not privy to inside information as to who or what they are talking too or about.
You seem to be frustrated with the lack of news, why not just wait for the next RNS, as frustrating as it is, we just have to trust Solgold is doing the right thing which I believe they are, remember the board have a lot to lose if they get it wrong, with the people now involved in Solgold I believe they are working on a good way forward.
Trust and patience is all we can have as we cannot change anything here
Atb
are we in distress mode?
My thoughts are that we won’t get to the next AGM under our current structure….. after Cascabel has gone I hope we can continue on the exploration front …… it would also be nice to retain a little slice of Cascabel but that may be wishful thinking.
Nick did say that being taken over was indeed the plan for Solgold…… I’d rather he had said ENSA or Cascabel
An ex-ceo and major shareholder says the strategy is to sell to a major.
The current ceo says he's open to conversations regarding a sale.
The current ceo, quite sensibly, says the company must progress "as if it's going to production" - my paraphrasing.
Despite telling us 18 months ago that companies were queuing-up to buy into our regional prospects and reiterating the fact recently, nothing has happened.
We have no money for continued exploration, which has all but stopped. A cash raise for this must be imminent.
More cash will be required to take us to the DFS.
The clock is ticking on Lasso's period in office.
Following the rapprochement with CGP and agreeing to work towards the delivery of shareholder value, they have been completely silent thus leading us to conclude our board is engaged in satisfying this promise.
$4.5m went walkabout and perhaps one of our best directors was ejected from the board.
BHP/NCM have also been silent for quite some time.
We were told over 2 years ago that we had lined-up $1bn of funding without breaking sweat. This was quite clearly a ridiculously premature statement - particularly as we were nowhere near even having a PFS.
Copper will recover once the Chinese stop pretending they can achieve zero covid. The long term prospects are undeniable.
We are hugely undervalued for all of the reasons Mather laid-out this week.
I do not like the fact our ceo has not bought a single share in the open market with his own money.
The agm could be uncomfortable - again - if our board have nothing concrete to say. We can expect to bid farewell to Mather.
As I say, just random thoughts. What are yours?
Ok got it. I guess our news will come in the form of how the mine is progressing.
The volume is so so so small still it’d take like 4 months to accrue £1m of shares on there. If that’s how someone is building a stake I’ll see you all in 2030 to see the TR1.
TSX up 6%. Someones buying across the pond and doing it without causing too many ripples as volumes low on face of it but much higher compared to the usual almost stagnant TSX volumes.
As they say... volume is your friend and we've had some pretty large after hours trading over the last few weeks. It might have calmed down a little over last couple of weeks but that's fooling no one! Blackrock bought back there 1% that they were fiddling around with. Norges seemed in a rush to get from 2.6% to near 4%. Mather taking up his DGR options. Irwin so quiet it's almost like his shouting ... "show me the money"!!!!
The way Darryl's been hiring ... I think we are about to see SOLG split into two. One part ENSA... and Jv'd or sold. And the other part all about exploration and Porvenir with an eye to rinse and repeat the success proven on ENSA.
Hi BNC yeah good thanks no not heard from pinot in a while clock ticking for takeover now here
Hey cookie
How we doin?
U heard from that pinot bird of late?
Trust ur chipper!
You and all the good folk here ;o]
R's
BN.c
Monte
Nick SOLG for sale sign.......?
Yep clear as day - "This is defnitiely the plan for Solgold"
R's
BN.c
Monte it's an unsinkable ship lol !!:):)all aboard it's about to set sail !!:)
Loads of Quadswallop spouted here again today....
What Quady, that you jump ship and everyone stays onboard as it’s not sinking at all? Possible.
thank you NRL2901 and Monte. This BB can be a great help when not cluttered with squabbling. It's coming home boys and gals and binaries. (tick!)
No offence taken Monte but likely outcome is the polar opposite.