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NM "We can't of course always defend ourselves against aggressive takeover bids but we've appointed Citi...recently to assist with takeover strategies...the best defence strategy is to have the share price higher; the best way to get the share price higher is to push rapidly towards a feasible and financed development and that's what we're doing...we're lucky...to have a project that is well endowed with gold...the variety of financing strategies being thrown at us particularly from the gold financiers
"We have geologically similar prospects littered through the country...Ingo is finding that the financing discussions removing ahead at a faster rate than originally envisaged...
It is still currently the intention to make the offer (for Cornerstone), but (the documentation of the offer document) keeps changing...we're being trapped by more that we know about that isn't yet ready to announce to the market...
There are bonanza grades there (at Blanca) but...we've simply been focused on Alpala...
We weren't able to buy shares...I wish we had been able to...we haven't been able to get Board permission because there was too much financially sensitive information out there...I wish I'd been hoovering them at 11.1/2 or 13 or whatever they got down to...
The current schedule on PFS is end of Q3 this year...
From a structural and a tax perspective, selling (Alpala) is a disaster...it would be heavily taxed and which would need an outrageous price...
There's going to be a number of things that are going to drive Solgold's future...the copper market is undoubtedly going to return after the end of COVID...there's a lot of mines in Chile that are suffering declining grades (and several other problems) the list goes on and on...its highly likely that Alpala and the other projects will become jealously regarded by financiers, shareholders and acquisitive majors...who all have publicly stated that they need copper...
As to the specific value...the PEA talked about a range as low as $2.6 billion to $7 billion, with a mean of 4.3 billion...when we get to PFS we'll be using a lower discount rate, a higher gold price and higher gold recoveries, so I think the NPV will increase as we get to Full feasibility and also the proportion of NPV that will be ascribed to Net Asset Value, so..around full feasibility the it'ill be around 30/40%...the fair value will go up and the confidence levels that can be applied to it will also increase..."
INGO "there's plenty of demand for the product and so there's plenty of demand for the financing..."
NM "pretty much no interest in divesting (the Australian and Solomon Islands investments)...we could farm out the Australian ones but we have way too much interest in the Solomon Islands because of the high values...
" our list of prospects is like a chicken soup with exciting bits constantly bubbling to the top...
For those who haven't managed to listen to the webinar, here are the key points (verbatim)...
As you clearly still haven't listened to the webinar and prefer to lob out random opinions, Nasdaq, here are the highlights (verbatim)...
"There's a number of ways of funding the Feasibility Study and the ongoing exploration work and the most expensive would be straightforward equity...
There's obviously going to be some equity finance in the future...we would prefer to minimise that while the market price is low in relation to the value of the project...
We are receiving a lot of interest from corporates that are prepared to put up funding not only for construction but also the Feasibility phase of the project...
We are getting a lot of interest, including equity, convertible notes, straight debt all the way out to future streams..."
INGO says "As regards to the short term there's a broad base of different financial instruments we can utilise. Some are pretty advanced as we outlined at the beginning of March. We want to close in the next couple of weeks (webinar was 23 April) and we are on track to do so..."
NM "A deal with one of them (concentrate and off take smelters) is possible in the near future on a conditional basis...we wouldn't have announced it if there wasn't a good chance we could nail a deal like that..."
INGO "These discussions (with smelters, etc.) started in the second half of last year...we got ten qualifying bids (from traders)...we have lots more demand for our product than we have supply, at any point in time (of the project) and thats only from traders, (because of) very favourable logistics but most importantly because of the metallurgical qualities of the concentrate in the first ten years...30% copper; 30/40 grams of gold; silver; and very low proportion of deleterious materials, well below penalty levels...multiple smelters in China, Japan and Korea can use this product, Indian smelters because of the high gold content...at least a handful in Europe...this is why traders are so interested in commercial terms and these are in all aspects better than the assumptions under the PEA..."
NM "We've completed the majority of the drilling for the project...we don't need to do any more to determine 'Life of Mine'...the confidence we have in the figures is very very high and that's going to show through in the financing deals...and the discount rate that's applied to the economic analysis...the PEA was done at a discount rate of 8% and we'll probably see that drop when we do the (PFS) and final feasibility financial assessment...its already looking like a 4 year payback vs a 55 year mine life...which is a financier's dream...enquiries that we're getting from financiers certainly endorse that view..."
(End of part one)
Interesting, just bought 8,000 more on HL wonder if it will come up as a sell or buy?
Anyhoo, when I saw it had dropped 8% I purchased as I am hopeful it will clear 30p this summer.
Don't take to much notice of the buys and sells on LSE my trade at 12:04:16 was reported as a sell but it was a buy in my ISA.
Hey Cookie , you self taught re L2
An old poster here called Grumpy old Man used to try and lead me through it , but every time I called him to explain something he was too sloshed time answer . I do appreciate the L2 heads up though from you , L2 , iceberg, Quali ( when he’s about) and others
Solgers,back soon lunch calls lol!!:)
Just for Alpala AKGold, there's lots more to come imho
AKGold ,Yes indeed couldn't pick a better time to buy solg shares imho
Broker targets I know can't be believed always.
The median target is around 72 p in medium term.
DBW,LOL!!:):),L2 nearly ready to bounce ,Nedk got it about right this weekend quoting funding news this week ,it's coming ,then Blanca and Amerilla updates before construction news now many businessmen going back to work around the world especially the ones NM and SOLG are dealing with to get deals tied up smelter etc imho
Well said cookie, Patience is needed. Those who have it will be rewarded dearly.
I have all my shared tucked in Pension pot and ISA so no hurry to sell them. I don't think there is another explorer with resource bank like ours. We have 65 $ billion worth of resources and improving .
Out of 13 tenements we have if we even get one success we will be on a different trajectory.
It looks like it cookiecrew2019 , theres just too much news so I cant afford to miss out now after all those years of waiting
I’d rather a springy spring
L2,like a coiled spring .....
Scoutt,we have proven up resources and expanding Scott,gap haven't proven anything yet ,fund i g coming on two fronts very soon ,continued drilling program and mine construction my opinion is this is heading towards £1.32+ medium term,long term with more tier1 resources proven up and construction funding ,NM quote $6.8 billion dollars you will be look I g at £2.50+ long term imho ,not many shares out there in our position ,a steal at this price as many would agree gl.
250,000 buy at 24.20p they got to let this rise
Thai will multibagg Theitalian for sure .....
If NM is able to bring a new partner in @45 or near abouts, we are not going to be in this territory for long. He has done this in the past. What would help is the SOLG price above 30p.
In my view, he said in the webinar. We should be trading above 40p plus. It's a frustrating to see the price hovering around 24-30p.
I sold almost all GGP myself, the real trade was between 0.5p and 9p in my opinion.
SOLG has enjoyed a great speculation phase back in 2017, then suffered a classic orphan phase made worse by the uprising in Ecuador, the USA-China trade war, a low copper price and ultimately COVID-19. In my opinion we are past the worst price action so it's a good time to get in if you haven't when the price collapsed to 10p. Definitely a 40p+ game now, likely a 50p+ game, with some luck a 60p+ game. I still view anything above that a low delta trade but for those with a more positive view and a longer time horizon this is a potential multi-bagger.
Looks to be a bit of a tug of war going on at the moment
That’d be nice managed another £3k at 23.4 but now the cupboard is bare
Imo....might be sharply up.
It went up to 30p like an unstoppable HGV with brake lines cut. I would urge investors to ook at the chart for the weeks before and after the BHP placing at 45p. Share price was similar in it's elasticity but inevitably got hobnailed by the Ecuador Mining social issues. Had it not been for those, then I think it would have been tracking up to the 50's but then as we know Corona came along. Doesn't really effect SOLG based on 2025 poduction targets but it's still frugal times for many investors as some feel the pinch from reduced revenue in divi stocks. Hopefully it will force some to seek higher risk exploration/development plays and or push some more funds into Gold.
With $1800oz gold likely in the near future, and copper prices set to rise when lock downs get lifted, there's no way SOLG can be pegged down to low 20's especially as the clock is ticking now and October is the month that the market will be looking too big time. Gloves off time and I doubt there is much Citi can do to protect SOLG from BHP having a pop. They can make more difficult, but at end of the day, if Newcrest buddy up with BHP, they already have 30%+. Still...I'd be happy with a $150m equity raise at 45p again if it meant that Rio or Barrick gained 15% stake. That would really get the tongues wagging and put the cat amongst the pigeons as they say.
This is getting really.silly now, great land gold soon will be same.mcap as solg,, just when I need some.spare cash
Bought into Gold miners this morning including Solg, not to bothered by drop as this is a long hold on gold price and or developments. Can anyone enlighten or advise or pros and cons of this as opposed to the other holdings which are Polymetal, TSG, and POG. Just sold out of Ggp and thought this was in a better position re risk reward, thoughts anyone.