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1984, I am exasperated by the corporate shenanigans and would love to see an end to the SR and the current uncertainty.
Folks are focused on our copper, but with the price of gold, and solg having 23m oz, this asset might become more attractive than the copper. China is buying gold at an accelerated level. Hopefully, not long to go before we run out of money.
DGR is clearly in the grasps of death finance and won’t last long. It’s a warning shot; as we’re in the same boat if we can’t stop all expenditure and ride it out
But DGR has a healthy position here so who takes them out might be interesting
Definitely looks dodgy NAL.
However, given that NM now has all of his hopes and dreams tied up with solg, one got to figure that he needs it to come good so that he can walk away with all of DGR's former assets. I think we at solg only need to start worrying when we borrow money from NM instead of a raise or selling the Cornerstone shares. Hence, NM needs a monetization event here. I don't think the Chinese will mind dealing with NM. One thing for sure, Warren isn't happy watching his heavily involved position getting hammered to become an actively interested position.
Eloro.
That's what made me smile at novices hoping I lose a fortune on solg.
I have lost a small fortune on dgr. I brought @ 9c.
And mather has royally shafted me ever since.
And while he's still pulling the strings behind the scenes at solg. Nothing will happen.
Believe me, many, many ceo will never deal with a company he's involved in.
I am always weary when a person starts loaning money to themselves. Not a good sign. GR of PREM did that. The end result is that that person doesn't lose because they end up owning the asset when a default occurs, but the shareholders of the company who borrowed the money gets wiped out. Hence, NM is Armour, and NM is DGR. DGR assets gets passed to Armour in case of a default, and the DGR guys gets wiped out. The only winner is NM who gets DGR's assets at the expense of DGR's shareholders. Not good.
Novice, FYI, I have lost far more money on bad choices over the years, than I care to remember.
I have also made modest amounts over the years.
As I've said many times, I only invest in exploration companies.
So I am fully aware of the risks.
What marks me apart from others on here.
I do not have to constantly make up more and more ridiculous stories to try to impress others
Neither do I have to daily spout, that I know what's going on behind the scenes, or that I have fictional contacts.
Also, try to remember I brought at 3.5p, so although I'm disappointed I never hit the big time.
I've lost nothing yet.
The primary purpose of the Choice facility is to enable DGR to provide funds which DGR has offered to make available by way of loan to the Receivers and/or Administrators of Armour Energy Ltd for the purposes of financing the ongoing trading and operations during the receivership and/or administration of Armour Energy and its subsidiaries.
KEY TERMS OF THE CHOICE FACILITY:
▪ The interest rate is 20% per annum which will be capitalised and payable on the maturity date.
▪ The loan is repayable on 30 November 2024. DGR may repay at the earliest on 14 February 2024 upon payment of an early repayment fee of 50% of the interest attributable to the remaining term.
▪ The loan is secured against DGR assets.
A little detail here is they have used dgrs holdings as collateral against the loans..
there are a lot of very ****ed off people on he dgr boards after they have taken out extremely expensive loans to finance the purchase of what’s left of armour after its collapse into administration….
a little detail here is he has used dgrs holdings as collateral against the loans..
dgr stand to lose all 16million dollars of their unsecured loans they owned to armour… which bizarrely mather oversaw as he was a director of both…
no wonder mather wanted to stop spending more money on drilling cascabel and get it monetised.. solg shares are about all dgr has these days..
It would be a pleasure tiny now get off to your bed
I’ve got far more important people to deal with you irrelevant individual who has nothing better to do than wait and watch for my every post 👀
I'll try and explain my pointless post to you skint - if needy lost his investment here then by extension you lose your alleged investment - so where is the satisfaction in that for you?
Like who skint? barring you who has no investment here.
Genuine holders here would love needy to lose all there investment here massive.
What’s your next pointless post buddy ?
Good point well made there imv !
And IPA.
To simplify. Let’s imagine we are a house builder. 10 years ago, we spotted a field in a prime location, added it to our land bank, and last year eventually we were given planning permission to build 1000 x £500,000 homes. We have no materials, no architects, no builders, no electricians, no joiners, no roofers, no project plan of note, and nowhere near enough money to undertake the project.
Is our share price likely improved if house prices rise? As a shareholder, would you rather see house prices rise, or progress on the project? In short, what I’m asking is please, let’s not get to tied up with precious metal prices. They are of little consequence at present, and only serve to accurately value the asset. In my analogy, it’s our ownership of the planning permission that they want.
Our biggest asset at the present time isn’t the PM’s. It’s this
· SolGold plc, through its wholly owned subsidiary in Ecuador, Exploraciones Novomining S.A. ("Mining Concessionaire"), has negotiated the right to develop the Cascabel Project and produce copper, gold, and silver from the contract area for 33 years, which may be renewed.
In the background there are so many indicators to show PM's are going skywardsand may make a very big comeback.
https://kingworldnews.com/john-hathaway-gold-is-headed-much-higher-but-take-a-look-at-this/
Good info and a logical argument, Bozi!!We're stuffed if the numbers don't add up, not imaginary numbers or the measurement parameters higher/lower than what should be! let's hope the proposal is watertight and believable, otherwise a small time PI like me is STUFFED!
But, firmly still believe in this possible projext and that we have not yet drilled the best Porphery spike! At Escondida they had many false dawns!
I wouldn't worry about metal prices or inflation as any partner or buyer will simply look past that especially when every cat and dog out there is calling for Copper to do cartwheels higher in next few years.
What matters most is that the phase 1 (new PFS) is viable for smaller pocketed players thus opening the door to more parties and making life more uncomfortable for the Super majors on the sidelines or chinese etc. It's simply a method to extract a bid or strengthen ones poker hand. At the moment... A $3bln capex is beyond SOLG and anyone that isn't chinese gov or a super major.
The key exercise here is to show a nice juicey low hanging fruit phase 1 development opportunity. FWIIW... this is straight out of the chinese M&A copy book as they like to do things on smaller scale but with fast return etc. Wouldn not surprise me one bit if this is being done as a request by the chinese as they have been apparnetly talking with SOLG since Porvenir days and the 32p placing.
Time is ticking and the sweet spot for metal prices likely in 2 years, so even a smallscale mine is going to take 2 years before it's producing based on capex budget of $1bln. As the clock ticks... the sweet spot moves and interested parties will want to be exporting gold/copper in 2026 rather than 2027 or 2028. By 2028... the super majors might have a few mines up and running. But in 2026, supply is going to be as tight as needalifes ahole after massiveray has been up there.
'Genuine holders' here wouldn't want to see anyone here losing money for obvious reasons.
Orthrncopper with Stackhouse, Caldwell and Twigger purchasing over 1.6m shares between them in Q4 last year, at far higher prices, suggests to me that the Directors believe that they can develop the asset with a lower cost entry. $1-1.3bn would be my guess. We'll soon know either way.
If we do we do if we don’t we don’t and just put it down to bad judgment only thing warming me up Ona cold winters day is the lovely glow of knowing that needy will be losing a small fortune 😂😂😂
Not so clever now are you ? 😉
If the numbers are not clear and beyond question with regard to an improved IRR, it’s not necessarily game over… as the asset is still there, but I think we slide down any list of priority when it comes to M&A or JVs with potential suitors if they can make quicker profits, easier elsewhere.
It’s fair to say WE HOPE the study will clearly show that our asset can be developed in stages… but we don’t know that yet. This will be our 3rd attempt to convince, unequivocally, the mining world that it can be done economically..
But we don’t have the numbers yet to prove it… and numbers that will clearly stand up to close scrutiny when analysed at a granular level, by mining experts.
I’ve mentioned before, that if Solgold are seen to be using higher metal prices, or lower grade cut offs to help improve the IRR value, we are in trouble.
When the study is eventually released I will be scanning it for those details before going back to read its finer contents..
With regard to lower capex, I don’t expect them to get it down to circa 1 Billion.. inflation will have seen to that.. but anywhere below 2 would be a result for a multigenerational mine in my opinion.