Stephan Bernstein, CEO of GreenRoc, details the PFS results for the new graphite processing plant. Watch the video here.
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Good news, already heavily invested here but was able to afford a £2k worth on the drop as a top up so my average not too bad with hopes of better by year end.
But the average salary in 2020 was 470 usd a month.....
Petrol is 2 dollars 45 in ecuador
Per gallon!
And thy are rioting.
It’ll come Eish ….. Moran may take a little longer for results
Looking better
https://www.reuters.com/world/americas/ecuador-oil-output-halved-indigenous-leader-says-protests-carry-2022-06-27/
Was rather hoping there would be something released this morning to boost our sp and as a build up to Thursday's EGM! Perhaps a Moran up-date?
Thanks for the link Troajan, I think they were confirming what we all believe about Solgold, Solgold getting their house in order for the future, definitely hang on to your golden tickets and be patient, it will pay off some day
Atb
3 savvy copper chaps....on coppers long trend
https://www.youtube.com/watch?v=MHvmTDKb4Hs
Will Ayten Saridas be the catalyst to our future fortunes? - my vote says yes.
Best of luck next week & beyond Solgers.
Damers.
Damers.
G7 certainly going about it the right way this video's well for solgold and Ecuador imho
https://www.reuters.com/world/g7-summit-kicks-off-under-shadow-ukraine-war-stagflation-risk-2022-06-25/
Interesting to see if POG reacts same way to Russian sanctions as did oil.
Remember, to get the best price you have to make the future buyers 'think' there's a strong chance that you can fund this development. If you want 100p+ then you'll need to make sure the likes of BHP and Barrack think the asset has gone to Franco, Boliden and a few other interested parties. If you want 45p a share or 55p level and are happy with that then you may as well hoist the for sale sign up and open the business to offers. That rarely ends well as it's a sign of weakness.
The decision making process for shareholders comes when SOLG offer up a transaction or funding plan which involves some of the above but some inevitable dilution. If the Franco deal is anything to go by then you can bet your bottom dollar that BHP and NCM will throw toys from pram and object. But after that, they have a choice... they will need to offer shareholders a better plan which I think all expect to be a low ball full offer for the business or a JV of some sort.
BHP and NCM could have sold up long ago and moved on if they didn't like the assets or what SOLG are doing with them. So why are they still hanging around? I think that's obvious to all.
So plan B supports plan A or plan A support plan B. Whatever the fun and games, soon (and I mean very soon) someone has to lay their cards down. Will BHP and NCM make a move first or wait for SOLG to unveil their funding plan?
I know it's been a long slog here. But this is firmly into the sharp end now and there simply isn't any more wriggle room for BoD's especially with AGM due in just over 5 months. The new CFO brings with her proven deliverability of IPO and large development projects as does Darryl. The experience is there to get a deal done that might just make the likes of BHP or another pay the full price that we all deserve. It's coming. Lasso needs it, US and rest of glove needs it and most of all, we all need it.
LM, you generalise too much. Many who recommended SH's post have loyally been here a good few years and want some return from our investment before we die. I don't think thats asking too much.
TS
It's better than that.... when it fails they can't try it again for the remainder of his term.
https://www.elcomercio.com/actualidad/politica/lasso-presento-descargos-asamblea-destitucion.html
"Correismo arrived at this session without securing the 92 votes required for the resolution . The ruling party, the Social Christian Party (PSC) and the Democratic Left (ID) spoke out against it. If it does no suceed, the Assembly will not be able to try to activate this mechanism again in the remainder of Lasso's mandate."
I'm starting to realise the liklihood of Lasso being ousted is slim after recent legislative changes that now requires 75% of votes rather than thre 50% previously that saw off previous administrations, along with limited opposition seats...
From the article mentioned below...
'Meanwhile, in a virtual legislative session the opposition Union for Hope party, which is linked to former President Rafael Correa, requested the removal of Lasso. The request was based on the state of emergency declared over “grave internal commotions,” which now has been lifted.
It would take the votes of at least 92 lawmakers to remove Lasso, while the Union for Hope has only 47 seats.'
With a bit of luck, this will just be a bump in a long and winding road. Happy Sunday all, family walk followed by the new Top Gun film with good friends for me today. Enjoy all. C
State of emergency lifted and talks to begin
Still a way to go but a good sign
https://www.independent.co.uk/news/ap-ecuador-national-assembly-quito-indigenous-b2109557.html?amp
I will be amazed if our new lady isn't already fully up to speed with what is going on with all aspects of SOLG. I don't think her 'start' date being prior to the EGM is a coincidence. I expect a slew of RNSs next week with aforementioned lady officially being heavily involved in what follows, she already being prepared for it all!
Based on delivering the updated PFS with likes of Tandy and Moran, SOLG may well boost the numbers by another $1bln+. Capex and current cash pile looks capable enough of seeing them through to Q3 end assuming rest of folio is parked or JV deals done.
The bulk of the $100m Franco funding was to see us through to PFS. We all know that cash pile needs topping up. Last time around we had the two main shareholders spitting out dummies due to the Franco deal. The big shareholders in NCM and BHP wanted a placing and based on the sp movements at the time, the placing level looked like 25p/26p. Mather didn't want to see the big shareholders get another decent sized wedge of stock at 25p or 26p so instead did the $40m exploration (outside ENSA) fund raise combined with the Franco deal. Mather was looking out for the little guy as well as himself. He is aligned with small shareholders whereas BHP and NCM are most certainly not.
So here's the conundrum... how can SOLG raise another $100m to see through to DFS (my assumption of costs required) if the major shareholders are against royalty deals and want cheap equity? In short, SOLG can't do another Franco... or can they? What would happen if they did the same royalty deal as Franco but with Boliden? BHP and NCM would be furious of course. So if all involved know what each other wants.... what's the compromise? It's impossible to please everyone but I'm beginning to think the recent strength in the share price (with exception to that 15% slide day which looked manufactured to me) might be leading toward an equity raise but at a price less dilutive and more indicative of SOLG's PFS positioning. $100m at 36p for instance might just tick the boxes and present a decent alternative to a Boliden royalty deal?
Might explain why Blackrock called back close to 0.8% of stock they loaned out or put into other instruments at what looked like 34p to 35p levels.
You never know, an equity placing deal could be done at 45p again which was where BHP took a decent wedge a few years ago. Now that would be a better counter to a potential less dilutive Boliden deal wouldn't it?
In terms of the regionals, it's more than possible that SOLG could or are about to announce a strategic partnership with Lundin or Solaris or Codelco (or all) on Porvenir, Warintza etc. Through a few more grass root licence blocks in there too.
Finally, if the new lady arrives next week, then it's feasible for her to get feet under table and be a key player in any funding talks. So I expect some interesting developments to occur after the EGM... as one thing is sure... SOLG does not run on thin air.
EGM close now aswell
I did say they would like before dispel the vandalism and violence disorders whilst listening to the leaders of this disturbance back to business next week imho
"Let's take the experience of other countries and their solutions in internal conflicts where international organizations and rapporteurs in the field of human rights have been guarantors of an urgent dialogue process."
'The principal is the one who asks for dialogue'
Cecilia Velasque Deputy Coordinator of Pachakutik
“We will leave once the government responds to the 10 lawsuits filed 12 months ago. Everything that can happen to our comrades from the peoples and nationalities is the responsibility of the central State in the name of President Lasso. If it is true that he is calling for a dialogue, but there are no conditions for it to be effective, he does not create the mechanisms to be able to approach and go to a dialogue, how can we go? You have to present the guarantees. It is the principal who is asking for dialogue”.
'Let the full weight of the law be applied'
Miguel Ángel González Ecuadorian Business Committee
“The business sector of Ecuador supports the decision to make a progressive use of force, to protect public order and to go against those who vandalize. We also hope that the full weight of the law will be applied to those who destroy and
threaten the life, integrity or freedom of people. In any case, what we ask and insist is that in these difficult times, dialogue with those who protest peacefully prevails, because they have needs.”
'It is a threat to human rights'
Vivian Idrovo Alliance of Human Rights Organizations
“President Lasso's announcement constitutes a very serious threat to human rights. This puts the life and integrity of the protesters at serious risk. This is to be heard by the Executive power and alleviate the precarious conditions in which the policies carried out by this Government and by the previous one have placed them. There is, on the part of the Executive, an incitement to hatred, to attacks by civilians against demonstrators and the international community must also know and document this”.
'We evaluated the use of pellets'
Patricio Carrillo Minister of the Interior
“The Police will be forced to take a next step in the force level. We are evaluating with the police command the possibility of using shotguns due to what is happening in the streets with the protest.
We can no longer continue to repel, we have to repress with progressive use of force.
If necessary today (yesterday) this new level of force would begin to be used, everything depends on the evaluation we make and what happens in the demonstrations.”
Police dispersed protesters from El Arbolito Park
Mayor Guarderas: 6,000 workers operate to guarantee services in Quito
Have the Police used pellets during the protests?
IACHR sees with concern the exacerbation of social tensions in Ecuador
I could never be bothered translating that much- too much like hard work. I did find the Egyptian embassy bit slightly strange. I hope they try and get in the USA one next that will be sorted rather quickly lol.
The possibility of an immediate dialogue was diluted. After the gesture of the Government to grant the entry of the members of the Confederation of Indigenous Nationalities of Ecuador (Conaie), there was no similar gesture from the protesters. So President Guillermo Lasso announced that the security forces will apply the progressive use of force.
In the streets surrounding the House of Culture , the demonstrators fought with the Police. Gradually, law enforcement officers began to fire more tear gas canisters. They withdrew the protesters and detonations were heard. In less than two hours, the security forces retook the El Arbolito park. The facilities of the House of Culture were also evacuated.
At the same time, the Minister of the Interior, Patricio Carrillo, announced that, in the future, the progressive use of force will be made with all the advantages that the law gives them.
In this effervescence of violence, the demonstrators entered the Egyptian embassy , ??which is in front of El Arbolito . The Police were able to warn the diplomatic officials of that country and repel the protesters. Foreign Minister Juan Carlos Holguín apologized to the diplomatic delegation of that country.
“Conversations were held with several delegates of Mr. (Leonidas) Iza and in principle a consensus had been reached. However, yesterday's violence, the information we have received today, as well as his public statements show that Mr. Iza's real intention is to overthrow the government,” said President Lasso.
“The National Police and the Armed Forces will act with the necessary means to defend, within the legal framework, through the progressive use of force, public order and democracy, the aspiration of hundreds of thousands of citizens who have demonstrated with their voices in streets and squares throughout the country, their defense in favor of peace and their right to prosper”, added the President .
reactions
Regarding this action, the political analyst Saudia Levoyer believes that the paths left to the Government were limited. “It was an almost forced decision,” he said, explaining that the Regime has shown tolerance, but that now it has in its hands to get Quito out of the anxiety that is paralyzed and with its citizens at home, in fear of acts of vandalism around the protests.
Max Donoso Muller, another political analyst, believes that the President has taken the right steps in his message by asking the indigenous people to leave in peace. “What is coming is the progressive use of force in accordance with the law. What is coming will not be easy, but it is absolutely necessary to maintain democracy and peace.”
Dayana León, an expert in political communication, adds that what must come from now on is an immediate agreement with the technical assistance of the High Commissioner for Human Rights . of the United Nations in order to get out of this serious situation.
"Let's take the experience of other countries and their solutions i
https://www.elcomercio.com/actualidad/dialogo-gobierno-conaie-fundamento-paro.html
It seems the government have had enough and are going to make use of progressive force to end the protests. This is supported by the business community.
This is a roughly translated quote from the president.
“The National Police and the Armed Forces will act with the necessary means to defend, within the legal framework, through the progressive use of force, public order and democracy, the aspiration of hundreds of thousands of citizens who have demonstrated with their voices in streets and squares throughout the country, their defense in favor of peace and their right to prosper”
The minister of the interior seems to be advocating the use of shot guns as well but I may be translating that wrong. I think it means rubber bullets as talking about pellets.
Cadell yes agree like DBW said the other day we've seen this before