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Addicknt you are correct I have shifted my position, because the company have shifted their position.
I am not arrogant like some on here.
My position consistently follows the company direction.
Seems sensible to me.
I believe a low cost JV is good for us. As if we could deliver a working mine at early stage recovery, hitting the near surface high grade gold content, we could be up and running.
Maybe if this is possible, we could achieve this with mostly offtake.
Oh dear I see Slug remains our most unintelligent poster on here.
Solgold said that they were looking to partner or sell twenty tenements which equated to ten properties.
They said that Alpala and Porvenir were not included.
So they have said they are not for sell.
He already looks extremely foolish
Quady, if the company wasn't planning on selling Cascabel, they would not let the publication below publish this article. They would be on the phone to the journalist immediately asking them to print a correction. They would also release an RNS responding to the media speculation and assuring shareholders that they weren't looking to sell.
The fact of the matter is every man and his dog in the mining world knows SOLG and its management want this sold. When it does eventually happens, you are going to look extremely foolish. But hey, at least you'll be rich.
Absolutely Stackhigh , and most on here are aware judging by the upticks for your post. The thing is , they are so thick skinned it will just sail straight over their heads.
Quady, the opposite to a sale is a purchase. So is Solgold going to buy Cascabel? That would be a novel idea.
The opposite is not true, not once have the my ever said they’re not going to sell it.
The argument is that you don’t tell someone you need to sell something if you want top dollar for it
But...........Surely the SR does not rule out anything, and hence a sale of either the company or an asset is a possibility ?
https://www.canadianminingjournal.com/news/solgold-advances-plan-to-sell-flagship-ecuador-copper-project/
https://www.mining.com/solgold-advances-plan-to-sell-flagship-ecuador-copper-project/?utm_source=Daily_Digest&utm_medium=email&utm_campaign=MNG-DIGESTS&utm_content=solgold-advances-plan-to-sell-flagship-ecuador-copper-project
The above from Quady;
"No where have we said we are going to sell Cascabel.
In fact we have said the opposite."
This is undeniably true and nobody can say it isn't.
In fact I've asked a few times why don't we openly say we're up for sale and invite offers?
It all seems strange to me. Some are saying that we should believe what the company are saying, yet won't accept what Quady has said, when he says look at what the company has said, particularly the "opposite" of a sale.
Meanwhile, yes, as said earlier, a trading share while this continues to go nowhere, with nothing in the pipeline, imo.
Has since declined to $3.69, but...
https://seekingalpha.com/news/4026288-first-quantum-franco-nevada-plunge-as-panama-calls-referendum-on-mine-contract?mailingid=33191009&messageid=2900&serial=33191009.2217&utm_campaign=rta-stock-news&utm_content=link-1&utm_medium=email&utm_source=seeking_alpha&utm_term=33191009.2217
What do solgold and their small army of Ecuadorean bum scratchers bring to the table in the event of a joint asset?
The only possible reason would be the suitor couldn’t afford to take the whole lot. That’s never the case here, just look at Mcap v NAV
Q, for years you argued vehemently that we would be taking this to production alone. You now seem to have accepted that isn't going to happen and you've shifted your position to going down the jv route. Given the track record, don't you have just have a scintilla of doubt?
Incidentally, I've never understood why you think a jv would be such a great idea - even if we could raise the ante.
Back to business as usual here. Profit taking whilst it's still on the table.
This has been a traders share for years now.
Quady, I’d bet you every share I own that you’re wrong
But you won’t accept that because you know yourself deep inside that there is zero chance this gets built or JVd
Fort and DBW have been lying and ramping to each other for years.
"Morning Colonel
Totally agree re the next 3 months .
It would clearly benefit anyone looking to launch a bid to keep the price as low as possible, just got a feeling the news flow potential here could eventually render these tactics useless"
Was this posted
a) 3 days ago b) 3 weeks ago c)3 months ago d)3 years ago?
Beware these disingenuous, cretinous tools. They won't go away, even when proven to be totally clueless. Not sure of their agenda, but they can't be a stupid as they look in their posting history.
Unbelievable DBW can't even understand the post's he posts.
We are going to build this as a JV, everything the company has said points to this.
No where have we said we are going to sell Cascabel.
In fact we have said the opposite.
Regardless of what you think of Scott, there is an expectation IN ECUADOR for the first time that Cascabel almost certainly will be developed. In fact we’ve been singled out by government officials on more than one occasion. Clearly we are not, and never have been, capable of building a tier 1 mine.
This will be sold and it’s a question of whether they can generate a decent price …… I have no doubt they will but let’s wait and see.
In the meantime securing all the requisite permits etc whilst saving cash burn is an eminently sensible approach
I guess it depends on how you look at things. If as some say... success is determined by share prce, then in order it goes a bit like this...
1. Under Mather Control... highs of 43p+ within last 5 years
2. Under DC Control... highs of 41p+ within last 5 years (note with more shares in issue than point 1)
3. Under SC Control... highs of 23p within last 5 years (note with more shares in issue than point 1&2)
So Scott would need to deliver an sp of over 44p levels to win the great of 'best share price' under his control.
I'm excluding the earlier days when it was penny share and much smaller float/shares in issue.
Incidentally, the winner or loser (depends on your view) is BHP who raised market expectations with their 45p purchase.
Totally agree with you Add. The level of negligence which allowed 4M to go missing without a trace exemplifies just how bad things were and left a lingering bad taste regarding the integrity of the then management.
October 29, 2023.- The Australian company SolGold, which operates here with four subsidiaries and has approximately one hundred concessions under its control, officially joined the group of mining companies that are trying to sell their assets in Ecuador or have suspended investments. in the country, while they continue with their procedures before the authorities of the sector.
Last Wednesday, SolGold (LON: SOLG) released a statement in which it reported that it was moving forward with the possible sale of its Cascabel copper-gold project in Ecuador, having held talks with more than 20 "highly credible" interested groups.
He said that of the group of companies that have signed confidentiality agreements for the purchase and sale operation, at least five of them, with real interest in the project, have made visits to the place where the deposits are located. These five companies have been the first to arrive at the place since there are already many other visits scheduled on the agenda.
“Cascabel enjoys undeniable recognition as an important strategic asset with a high-quality resource. I firmly believe that Cascabel will one day become a multi-generational mine and contribute substantially to the Ecuadorian economy,” stated Scott Caldwell, CEO and President.
"The external groups evaluating the project are being very diligent in their review as they move through various stages of their internal processes," he added.
“In parallel, we continue to advance and de-risk Cascabel to position it as a turnkey asset,” he stated.
The statement said work plans for 2024 are now funded, with no additional funding needed in the near term, thanks to a combined $86 million investment from Osisko Gold Royalties (TSX, NYSE: OR) and Jiangxi Copper.
Reference is also made to the actions of the company's new administration, aimed at being more realistic and positioning themselves in the mining world as what they are: a junior with pretensions.
To make things better, the president of SolGold came to live in Ecuador and once on the ground, he laid off more than 600 workers. The workforce has been reduced to 282 employees, previously it was 894.
Caldwell reported that, since his appointment to the top job nearly a year ago, he had implemented a “hard reset” for the organization. In a few months of management he can show some achievements.
Three months ago, he obtained final agreement on the terms for a 33-year contract, protected by an international arbitration clause, under which he would pay, starting in 2025, some USD 75 million in advance royalties.
That time he said that starting in 2025 he would invest between USD 2,700 and USD 3,000 million to build the Cascabel copper mine, that the process would take about five years and would generate 3,700 direct jobs.
The mine would enter production in 2030 and would be the third large-scale mine in Ecuador, along with Fruta del Norte (gold) and Mirad
Eloro. Of course he forgot.
IT'S A NEGATIVE.
Eloro, you're quite right. It was a clear indication that management had no control whatsoever over what was happening on the ground. Maybe they just didn't care?
It's also worth mentioning they appointed DC - a total disaster, which looks as if it's going to cost us a fair few bob in a legal settlement.
Add, you forgot to mention the missing 4M under NM's watch which still hasn't been satisfactorily accounted for.
This is a solg board and hence why hopefully none of us here were/are holders. Solgold is a completely different entity and eventually going places
Kapil, that sounds pretty flimsy to me. Think of all the years of broken promises and opaque messaging. The alienation of shareholders, the hubris and misleading comments (1bn in funding comes to mind) The ludicrous pursuit of the dream that somehow we could take this to production on our own. The list is endless. If you believe that amounts to being in a better place than we are now, good luck.
MR, isn't it just. TW spotted the scam, but, as ever, he was ignored and reviled by the BBMs.