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Pre AGM I'm hoping Scott and co announce a JV deal on Porvenir or some kind of JV on the exploration folio which lets face it... if it involves a super Major's name like Barrick, Rio or FMG then market will get more excited. Doesn't have to result in immediate drilling of exploration targets... but think just the mention of a big player name will put cat amongst the piegeons and get tongues wagging. Of course.. same could be said if any nationals like Codelco, Chinese or even Brazilian's are involved.
This is the potential 'rabbit out of the bag' that Scott needs pre AGM. ENSA is what it is and will most likely resolve itself via a sale post Ecuador elections.
Exploration is the key to growth and we've seen the power of successful drilling via likes Porvenir which took the sp from low 20's or mis 20's all the way to 42p. That move had zero to do with ENSA.
The key to pleasing the market is to deliver 'names' that excite when partnering and in a set up that is fully funded by them and not SOLG via equity raises.
Exploration is not that costly per hole, circa $1m dependent on drill pad location and length/target depth etc. Some shallow targets less than that.
There's plenty that can happen over the next 3 months before year end and that includes some kind of deal with BHP and Newmont if the latter choses to off load their stake. I doubt they will.. but you never know.
Red ….. hope you’re enjoying the sun
It didn’t include the held shares …..
"Cash expected to last until June..."
That included the 'Treasury' shares being sold at a then assumed price of c17p....
Not long to wait then Bozi. Run-off coming.
Cash expected to last until June. One would think that he will need to get the SP up for the raise, or to sell the Cornerstone shares. Assuming of course a corporate event makes the need for funding unnecessary.
Eloro - he told the market about the EA termsheet and Cascabel renewal when the price was 40-50% higher and that news did nothing for the SP.
We all want punch regular updates showing material progress on all fronts but there's an element to this where a weak market just swallow up all good news anyway.
For me it's a case of get the run offs out of the way and get round a table with the new government before year end. Tell the market all is good politically and the phased construction plan emerges in the new year.
It's not as simple as wanting the shares up because he owns them. As long as he doesn't pull a heavily dilutive financing on crap terms, he'll have my support. If any nest feathering starts in earnest then I'll tell him how I feel.
I don't think we can be fairer than that really.
Hi Bozi, I know that Warren is excited about the phased approach and that he is waiting for it to be published. I also know that Bob supports Scott. However, I am still disappointed with Scott because of the way he communicates to the market. What he said doesn't help the SP, but only make things worse. If he is invested and care about the SP, then he is experienced enough to know that saying the wrong thing can be detrimental to sentiments and the SP.
Bozi ….. agreed
Couldn't agree more Bozi.
I 'hope' potential suitors have had enough time to look at the assets that Solg can announce an end of Q1 deadline for the strataegic review soon enough. That would spice things up a bit.
Hi DBW, we have no other viable option now but to wait and allow events to unfold. Rick Rule did say in one of his interviews that solg would not be sold until 2024. I guess he was right.
NAL, while I did send Scott an email and received no reply, I never claimed to have chatted with him. Perhaps your worm infested Australian brain is failing you. I confirmed that I have exchanged email with Bob. Tell me, if you was to give someone the benefit of your advice, who would you advise that person to heed, a multi millionaire Canadian, or a buffoon Australian criminal descended poster on solg BB who can't string a few letters together to make a coherent post? I would definitely advise to heed the Canadian.
Eloro - the SP decimation is borne out of sector weakness and a weaker investment case for SOLG at this moment in time (unless punting a takeover).
The key thing for yourself though is that Warren supports Scott. He's been quite open about this on X. Yes the share price can be painful to look at but the general feeling is that a lot of good work has been done in the background.
I think that if we all want this to come good then there's a need now to rally behind the cause and support Scott and Maxit to get the job done. Our significant investors are happy with the direction of travel and therefore railing against this is just counter-productive, IMO.
First two things he mentions are:
A JV with outside projects and
Concentrate take off..
Surely either would give at least a small kick to the SP, however...
Talked to BHP, meeting Newmont at the conference
'Modified' PFS 1st qtr 2024
$1.2/1.3 Bn initial capital cost...higher cave first...block cave after...
Exploitation agreement will be signed off by Lassos government
Interested parties see biggest risk as political.
Both candidates favour mining development.
"We're trying all we can to get the price up..." Whaaat!?
Key catalysts next year or so...
Strategic review "but that's out of our control..."
Phased mine approach...
Both announced Q1 2024.
Meanwhile hinted at a JV with at least one of the outside projects
Trouble is otherncopper he has been doing this since the 30s and look where it’s got him.
It’s amazing how a few posters cannot see what an odious character he is, there are some despicable rampers on here but he is by far the worst.
His narcissism of his great he is is a trait which doesn’t sit well on share forums.
I had a lot of sympathy with holders about what happened but one or 2 rampers still could not help themselves in trying convince readers to add into all this uncertainty, which in my opinion is still there.
I have a very good friend who is heavily invested in this stock and I have always told him I think it’s risky, I hope he gets put with a profit but I think his optimism of 50p is a tad too high……
He has had multiple opportunities to sell at a handsome profit but the rampers on here have caused him to hold on for greater riches, maybe those opportunities are no longer there despite what the 3 Amigos, DBW, FORT, RED RAMPER try and convince readers
Eloro
I think we might get the revised investment protection agreement, some news on tailings and pipeline in fairly short order …… whilst not glamorous these things are vital to derisking the project.
Plenty of discussions going on in the background I’m sure and happy to continue to sit this out, having said that we could get something out of the blue :)
Keep the faith and ignore the half wits
Here we go…… Red announces to board he has bought back…. and off we go with the ramping theoretical situations… like clockwork
Eloro, I can't form an opinion because unlike you, I don't have the benefit of cosey chats with scotty your sounding like someone who has been down up for the second time telling porkies. And are lashing out to deflect the fact.
Have a look at irwin musings and see how he would react.
Hi DBW, but then he went on to say see what happens next year, thereby implying that he plans to keep the SP low until then! Perhaps Fort is right that keeping the SP low might well be a definite strategy to entice a bid.
No shi@ dbw.
Whaaaat...I thought thats what he wanted...
Give it a rest you ramping buffoon
Hi Eloro
In last week’s Kitck interview Scott alluded to the fact that whilst all shareholders would like to see the share price at higher levels, it may also tempt potential suitors
https://m.youtube.com/watch?v=prjh454RtxE
Maxit acted for Wyloo on the Noront acquisition...
They are also advisers to Guyana Goldfields...
https://www.miningweekly.com/print-version/guyana-goldfields-is-said-to-explore-options-including-sale-2019-08-13
Newcrest takeover nears completion...c$17 billion...
So the question arises what do Newmont do with the SOLG stake...?
Their mining tech deal looks like it makes block caving more efficient...
https://www.mining-technology.com/news/newcrest-epiroc-enhance-mining/?cf-view
What NCM paid for the SOLG stake is irrelevant. What Newmont would accept for a prospect they have the muscle to mine is much more important.
Also too early to write off BHP. They also have a decision to make. They know the Chinese want it, so again they must decide what they would accept for a mine they could buy and develop for 8% of their Gross Revenues; 33% of cash in hand; and 60% of what OZ Minerals cost...
So the smart move by either would seem to be to start the auction as happened with Noront, resulting in either them getting SOLG (and thereby a major footprint in Ecuador, including the CGP prospects) or making s major competitor pay up as happened with Noront...
The smart move by SOLG would surely be to sell the 'Treasury' shares at say 17/20p, thereby lighting a fire under the SP and maybe triggering the auction, depending on who buys...
So then the naysayers ask "why would anyone pay even 17p when the SP is 10p?"
But that's the whole point.
There are "several" parties in the data room. Now is the time to text out their interest in buying what would be 'strategic' stake for at least three parties.
(And I'm still puzzled why Mitsui haven't shown their hand after publicly stating their wish for a stake in Cascabel...)
Have a good Sunday. Back in Blighty late tomorrow...off to the beach...
Interesting point Fort. Scott and Bob trying to entice a bid by decimating the SP! If we do get a bid because of the low SP, then I could find it in my heart to forgive Scott!
Never used the term filter NAL. As for responding to you, I made an exception today. You still haven't confirmed which of the criminals and paupers deported to Australia you are descended fro? Are you ashamed of them? I am proud of my Canadian and British family thank you. All are law abiding, contributing members of society. How about yours NAL? You are so intellectually deficient that your envy of the more capable posters here is so evident in every post which you make here. Envy of their solg holdings, and also envious of their ability to post a coherent opinion which clearly eludes you!