The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen 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.
FOMO
Here they come from over the hills, I can hear the hooves thundering
Steady institutional buying post PFS now everyone is back at their desks...?
A bid...?
Rio drill results.
My contact has pointed me in the direction of the company's stated commitments, which I was able to find in the last MD&A
While Cash on hand was $58,405,359, Total net working capital was $63,672,827
H2 Capex for Cascabel is $24.56m
H2 Capex for Regionals is $11.88m
Licence commitments for the FCY 2022 are $6,366,389 so lets say $3.183 for H2 2022 (to June)
Admin costs for H1 2022 were $8.724. Financing costs net of Finance and other income were $6m
So...putting it all together, total cash outflows this HY can be estimated as:
$24.56 + 11.88 +3.18 +8.72 + 6.00 = $54.34
Which seems to leave Net working capital at June 30 as c$10m...
So in conclusion there is no need for a cash raise imminently but it would be prudent to do so before 30 June by which time the SP should be significantly higher.
"I reckon the market finds it hard to predict when a bid might come."
That statement augments Darryl's saying "we're open to it..."
Onwards and upwards...
one day it may actually be true, & that'll be the month he doesn't post!
He has previously said that his contact is a GAM at Hannam...
He comes on here once a month or so claiming his ‘contact’ says a bid is incoming....
Sounds like a load of ShihTzu to me
Monte - Are you sure he said 'Barrick', & not something that sounded similar :)
I spoke to a man with a dog,down the pub. He said its definitely Barrick.
source fruitbat? Sounds like bs
The cavalry across the pond will be with us soon, watch it jump
Red they got the money imho
Ooh fruitbat bid of 60p plus conseccions sounds like first bid coming
Presumably randgold...?
65p bid for alpala. Rio and randy with concessions inbound
Tks all the same J. Maria...............
Damers that is just an article after the PFS. Nothing special written.
Cascabel would produce an average of 132,000 tonnes per year of copper, 358,000 ounces a year of gold and 1Moz/y of silver, or 212,000tpy copper equivalent for an initial 26 years in a clean copper-gold-silver concentrate at an initial project life-of-mine all-in-sustaining cost 6 cents per pound following pre-production capital expenditure of US$2.7 billion.
The 25Mtpy block cave operation would have peak production would be 391,000tpy copper equivalent, with the concentrate to sold to Asian and European smelters as part of a project construction financing package.
The project would yield an after-tax net present value (NPV) of $2.9 billion at an 8% discount rate and 19.3% internal rate of return (IRR) with a 4.7 year payback period at base case metal price assumptions of $3.60/lb copper, $1,700/oz gold and $19.90/oz silver. The economics improve to a $4.1 billion NPV and 23.4% IRR at spot metal prices.
"This project is no ordinary mining asset. Cascabel will be a significant, multi-decade and very low-cost producer of copper that can help enable Ecuador's emergence as the next copper frontier at a time when the world needs copper the most as we transition to a net zero carbon emissions future," said SolGold MD & CEO Darryl Cuzzubo.
The initial Cascabel project would exploit a reserve of 558Mt containing 3.3Mt copper grading 0.58%, 9.4Moz gold grading 0.52 grams per tonne and 30Moz silver grading 1.65g/t.
Additional project optimisations are being advanced for a PFS addendum planned for completion later this year, with a feasibility planned for the second semester of 2023.
The Cascabel PFS was several times delayed, most recently due to the arrival of Cuzzubbo at the head of the company, who pushed for optimisations to reduce the initial capital.
The 2019 preliminary economic assessment on the Alpala deposit at Cascabel looked at four mine production cases from 40Mtpy to 60Mtpy.
Jason Ward interview on Facebook live 27th April 08h30 (not sure what time zone though).
I presume it may be in Spanish so if any LSE Spanish speakers are able to watch and report back that would be insightful.
https://www.facebook.com/103259781282046/posts/514520720155948/
Google translate of interview invite:
“friends cordially invited this Wednesday, April 27, 08:30, to the interview with Jason Ward, president of Solgold Ecuador
live: Facebook live we are waiting for you“
It looks to me like they've reposted a link to the same article...
Maybe trying to keep it in the public eye, but completely wasted on me...
No idea Red - has just been posted on Linkedin by SOLG. If old news apologies folks..............
Isn't that the same Mining Journal article that was published last Wednessday and has been reposted on here several times plus on Solgold's twitter feed yesterday...?
What we need is an authoritative new article or better still revised broker targets or analysts reports...starting with Hannam...the tame 'in house' analyst...(its where Ingo came from)...