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I’m not sure the need to report is black and white - it’s relevant to context, size of company, stage of exploration etc.
Drill number 65 infilling Alpala - no. Obligation to report the first drill in a new property - possibly. First drill that brings up bonanza grades that changes the understanding of a location - yes I’d say.
I think it's fairly obvious to all on here that the flurry of RNS's and webinar galores in Q3 and Q4 were designed solely to gather support for the CGP takeover (eg, get them to accept) and then of course the AGM and NM's neck on the block. The fact that it has gone quiet since those events suggests the rush to appease news hungry shareholders is over.
That said, by law if SOLG have transformational news or any news that might effect the share price or assets of the company, then they should be RNS'd pronto.
My guess is that data from various holes is available but needs information from the whole (all 5 to 6 holes) to build the appropriate picture. So doing an RNS saying 500m's of 0.75% in Hole 3 followed by an RNS saying 0.4% from Hole 4 etc is not really going to complete the picture until holes 5 and 6 or hole 2b comes in too.
News that Rio is underway is imho, important and news worthy considering the last RNS on this was nearly 4 months ago.
As for Alpala, Franco spent about 6 months doing due diligence. The Chinese are no fools. Any suggestion that 22moz+ are bordering on being uneconomical is just stupidity. I think shareholders should take more heart from the fact that recently there seems to be a campaign to try and lower SOLG's share price. Lets face it, it doesn't take much these days to get a few stories out there in the media and if it saves BHP and NCM £300m+ on final deal price, then well worth the smear campaign.
And FWIIW, Alpala is great. But the 13 style Alpala's that await in the folio are what the majors really want to get their hands on. That's future planning for you.
Ha got XTR all wrong ( as usual ) sold some to put more in here .... not one for giving tips really as I’d sooner lose my own money than other people’s I am however surprised that it has come off so much after that news
As there's nothing going on here and I'm always interested in Tier 1 assets for gold/silver/copper...
I've just bought back into ARS...I'm not ramping it...it could still fall further, but Beutong is a Tier 1 asset and, like Alpala, Rio, Porvenir....its going nowhere, but the copper price is heading towards $10,000...
Generally I think it's a good thing to hear negative views as well as positive. Part of the process of constantly assessing if you are still happy with your investment decision, and not just listening to your own echo chamber. I think a large part of the reason some posters were gloating on the GGP board yesterday was not because they want their fellow investors to lose money. It was because for months anyone who dared to suggest that the GGP share price could go down was ruthlessly attacked on that board, accused of malicious de-ramping, and in some cases warned or banned by admin. In fact more harm was probably done by the devout followers who posted daily about how the share could only ever go up and convinced newer investors to put their money in at 35p and up...
However, all that being said I do find it unlikely that Crux investor could manage to uncover the fact that Alpala actually has a negative NPV and may not be viable when the external consultants who prepared the PEA, BHP, NCM, FNV and various analysts all seem to have come to the opposite conclusion. The industry analysts aren't just plucking numbers from the ether, they create their own extremely detailed models as well and there are some big names covering Solg now in JPM and BofA.
Morning Bnc ... I would love to see NM overseeing the exploration, he would have a team around him that certainly know their business that has worked well for many years .....might even start a campagin....lol
Have now read, and reread, the report. It’s well written, and mostly plausible. However, it is almost and entirely negative view, despite seemingly being set out to show the pros and cons, it lends all weight and analysis on the cons, particularly for small PIs. It doesn’t add anything to what I already know. Where it is correct is that we, the PIs, are carrying the most risk, and will be last in the thoughts of those hoping to score big. It’s also true that the top execs, NM in particular, have seen their own wealth grow in parallel with the market cap, whilst we are tied to a very unimpressive SP owing to new issues. That’s the painful truth. I further expect this to continue for a while yet, but I don’t believe it will be to production. Good drilling results, news of financing, and / or news of bid/JV should come in 2021, and should see a rerate. That’s my hope and expectation, which will give the much talked about exit points for PIs. Those wishing to wait much longer should also see much better returns. All imho, and probably nonsense. Often said on here, and true, we all have different requirements for our investments.
So it looks like SOLG have taken on board the recommendation to move away from constant overhyoing at conferences and the confetti shower of bits and bobs of drilling news to pile it all into a blockbuster from time to time...
In this case the MD&A on 15/16 Feb...
While we're waiting, copper, gold and silver will rise and the assets in the ground aren't going anywhere..
I still expect a game of chicken to be played out by interested majors, while BHP decide what to do...if I was them I'd put together a JV proposal for Alpala PDQ as a holding position while deciding their longer term strategy...
Be prepared for sideways days, but one day soon this will pop to 50p or more...
Hi Addicknt! You should add that Crux are not Muddy Waters as well. If Muddy Waters came out with a bad report on SOLG, I would take it seriously and very likely sell. When Crux do, my calm is Zen like. BTW, friendly tip, AAZ have announced some pretty incredible news to the market this morning....