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Morning Darren
We all know it’s for sale, we just don’t know who, when or how much. Looks like the Ecuadoreans are cosying up with the Chinese
https://twitter.com/produccion_ecu/status/1719855740884500722?s=46&t=XX3-iZapJ1HaXMFlnE7nKQ
Morning all . Bphil good find. Here is my take on this , for what its worth,. Firstly I am am not so familiar with el oriente and their credability. ? Why would you publish an article saying a canadian media source had contact with Solgold and they had confirmed that its not for sale without naming your source of media and your source from solgold? I dont believe that could of been said even if true without an rns because market sensitive, and certainly not before an rns or the much awaitade sr! I have read that article 3 or 4 times now and although its ambiguos and open to interpretation I simply dont believe its credible!! Anyway crazy times and lets see what happens,.
Alb
DK
Well , Anon ; after reading the article a few times via a couple of different translations (both near identical) my considered opinion is that the headline is misleading .
It seems to have largely come from the quote “This has given rise to some unfounded speculation and rumors about a possible sale.”
That quote is ambiguous- I mentioned earlier in a post that a comma after the word “speculation” might have been appropriate
So on balance I don’t think anything major has been going on. Nothing has changed (IMHO of course)
I answered it before you asked it
The article is b.ollocks
If it’s anything it’s Maxit up to no good
So I've asked a few questions in my post at 20.40 and all you get is posters just slating each other.
Total joke.
Evening all..
Yes mog999 on three sides
Pinot
:0)
There's a suggestion that google translate may not have accurately translated the Spanish script. Below is the section in Spanish. Can anyone read and translate and confirm the accuracy?
La minera SolGold aclara rumores. La firma canadiense señaló en un comunicado que el proyecto Cascabel, ubicado en la provincia de Imbabura, tiene el potencial de convertirse en una de las minas de cobre de mayor relevancia de América Latina y que por esa razón han mantenido conversaciones con empresas que buscan invertir en el desarrollo de la mina en Ecuador.
Esas declaraciones se originan luego de una nota de un medio especializado canadiense que señalaba que SolGold mantenía reuniones con empresas en búsqueda de compradores del Cascabel.
En ese contexto, SolGold aclaró que mantiene conversaciones con inversionistas y financistas “como es natural para este tipo de proyectos en la industria” y descartó una posible venta.
La minera señaló que Scott Caldwell, director ejecutivo y presidente de SolGold Ecuador en un informe periódico que presentó la compañía, mencionó la visita de posibles inversionistas para fortalecer el proyecto Cascabel. “Esto ha dado lugar a ciertas especulaciones y rumores infundados sobre una posible venta”.
Al momento, la compañía espera el otorgamiento de los permisos ambientales; así como también avanzar hacia la suscripción de un contrato de inversión. “SolGold continuará su planificación estratégica comprometida con la continuidad del Proyecto Cascabel, y la inversión en las comunidades aledañas al proyecto que es una prioridad para la compañía”.
Oh, I'm also highly dubious because it says SOLG is a Canadian company.
Last I saw, it's a PLC, which means it's British,.
That Spanish article looks highly dubious to say the least.
"These statements originate after a note from a Canadian specialized media that indicated that SolGold held meetings with companies looking for buyers of the Cascabel."
So no direct quotes.
Although it does raise a very valid point. Why everyone assumed (myself included) that the 20 in the data room are all prospective buyers, it is very possible that they're mostly or even all entities that might just want to fund it in some way.
Whatever, if this was most other companies and not SOLG, I'd expect an RNS either denying or confirming it's truth, because it could be seen as possibly affecting the share price.
I'll bet we don't get one though, in which case I don't know what to think.
Could the article have been fabricated with the aim of playing down expectations of a sale?
If it turns out that this article is true, does that mean any of you would bail?
Questions, questions.
Didn’t Gina Rinehart peg the land around cascabel some years ago ?
Fort, I have contacted the company and asked if there is any truth to the Spanish language article that Cascabel is not for sale. The response which I received confirmed that Investors should read and rely on the last detailed press release from the company, and that all options are on the table.
I suspect that someone one is trying to cause doubt leading up to the AGM with that article.
Well... if the government are involved then that might mean a deal with ENAMI and Codelco or something that allows both to save some face or one ot exit from one project but enter another etc etc. Most folk know the situation around Llurimagua right now and we also know that the new President has a stake too. Mmm.
Perhaps someone in high office as said ... erm... you're upsetting some of our potential partners with this talk of a sale.
Tier1 mines attract big money players. Not minnows. Remember that. And that includes nationals.
We're down 78% in 18 months; 46% in a year and 60% in 7 months...
So why wouldnt she...?
Damned phone! Food already been on a 100%+ run
Gold!
Just wait until food goes on a run. Then we’ve got a project. The copper is a bonus while the climate mouthpieces are still active but it’s without doubt that Net zero will be tactically called off somehow
This is a gold mine
C'mon DBW, we've had hard takeover rumours for at least 3 years...not even counting "fast and smart..."
https://www.mining-journal.com/m-a/opinion/1399422/takeover-battle-solgold-about-begin
On those numbers, Gross Annual Revenues are £2.16 BILLION!!!
And this for a company with a MCap of £270 MILLION...
Caldwell's hand has been forced and I suspect the choice of news outlet was made in order to address those who may have been most concerned i.e the government. He went as far as he could with the denial, but ultimately he was unable to state categorically that a sale is out of the question - he merely referred to 'speculation'.
I'm afraid to say that this strikes me as the inevitable result of the opacity which has existed ever since the SR was first announced. In fact the wording of the original announcement was guaranteed to cause confusion, and this article reflects that. I guess we'll only know the truth when a deal is unveiled.
Lithium is 72% down yoy so guess she is bottom picking. Know anything else that is over 72% down yoy?? She does like a bargain.
Not saying this is true or untrue... but the quote below seems to be lifted from Google translate, and may be mis-interpreted. Also, seems contradictory to recent RNS and a change a week later would probably merit an RNS itself.
Just saying but make your own minds up
Nice of Quady to offer to gag himself
What a relief for the rest us
Addicknt it is not a case of being happy, it's about following the evidence.
I would have been happy with a pound a share.
But all the facts and evidence said we had an enormous find and we were not giving it away.
I have always said we can do this, but not with the certainty that some say I had.
Hopefully now the useful idiots will keep quiet now, as they have nothing to contribute.
Not sure about those three but my opinion is unaltered. Of course solgold will be sold, there is no other feasible outcome.
You have to have an IQ somewhere in the range of a moron to think solgold develops cascabel
This is not news, as we all knew that Cascabel and Porvenir wasn't up for sale.
Only the useful idiots like Slug, DBW and Redknight couldn't see it.
No doubt they will pretend that they knew all the time that we were taking Cascabel to production.
Sire_frugalman has it right. Does the comment 'unfounded rumours and speculation' amount to a full-throated denial? Particularly when SC has been at pains to repeat that all options are being considered.
Who knows, we could end up with a jv. I won't be happy, but Q will be over the moon.