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Fort, I didn't really want to get sidetracked by the issue and definition of production. My question was about how often anyone's ever correctly guessed a corporate action.
For me, this company is the most unpredictable in which I've ever been invested, which in turn is a function of successive management teams who've failed to set a clear strategy and then to deliver on it.
Adikt. As per your eagerness to rush to post and appear superior has made you look silly.
Quady clearly said GOING to production.
GOING to production is NOT producing ore.
That's being IN production.
GOING to production is by its own definition GOING to production.
I know your in a battle to be the solg board superior being, but I'm afraid quady gets today's points. im afraid he's once again made you look silly.
Much the same as your hysterical post ref the rumour I repeated.
Count to 12 mate before posting.
As
Doing the test shaft would boost the asset price assuming ti derricks via proof of concept. Not sure how much that would cost.. possibly $200m? Think Darryl said it could take 18months to complete... so on that basis, SOLG would need to JV rather than it be an outright sale. So you could see a deal that gives away 10% of ENSA in return for all the blind sunk shaft work or staged % stakes on completion of various derisking works. I don't think Maxit and co want this style of monetisation as it's simply kicking can down the road but that said... if copper prices are soaring in 2025 and SOLG had a proven mine shaft that derricks entire project further, then the 90% ENSA stake is going to be worth double what it is today.
It's always a game of business acumen vs greed or desire for early cash in the hand etc. Unfortunately for us (or fortunately!) we have Maxit on board and they are the 'early cash' types.
Q, obviously I disagree. Digging a hole doesn't equate to production. Production is defined by having a saleable product.
Disagree addicknt.
The proof that we are going to production, will not be when we get the first ore, because by then we will be in production.
The proof we are going to production will be when we start work on the decline.
I was just thinking back to how often any of us have correctly guessed a particular corporate event - aside from the obvious such as cash calls.
Some of us correctly predicted the fateful AGM would lead to Mather's demise, but even then that was pretty obvious. Beyond that I'm struggling.
Incidentally, there's no point arguing that because we haven't been sold yet proves that we're going to production, because it doesn't. The proof of that will be when the first ore emerges.
When you think of it in these terms it shows just how much we are in the dark and how unpredictable this company is.
Can anyone think of other examples? Evidence will be required.
I’d be very happy if we can achieve 1.5 for the whole lot.. and that would require competing bids..
The long awaited PFS issued last year answered many of the questions raised by the Mayfair paid for service Crux boys report. If you read the utter nonsense they recently produced on GGP then you'll soon know how they make their money. That said, the elephant in room will always be the question over block caving and to derisk that you have to have drill the test shafts and demonstrate it works. But that's the reason why someone would pay $3bln for SOLG vs $6bln. $3bln is small fry and works on a serious risk basis eg heavy discount.
I can't argue with other posters who point to slow progress on the sale... I think we all expected a swift sale as Tier 1 assets are rare and in high demand. But inflation issues of late combined with political issues of late all suggest the path ro a monetisation event has been or will have been slower than if the market was doing cartwheels and copper was hitting all time highs. Like all markets, there is a good time to sell and a bad time to sell. Sometimes... it pays to wait and be patient.
Historically, based on the last 12 months, SOLG much more advanced now. They've achieved major milestones and sign offs which are all crucial to a sale or monetisation event.
1. ENSA investment protection agreement signed ... tick.
2. ENSA consolidated to 100% so simple for Asse sale or JV... tick.
3. Ecuador gov agree mine life 25years... tick.
4. Ecuador gov sign crucial exploitation agreement... tick.
5. Ecuador elections firs round passes and eco warriors out of equation... pro mining candidates left in run off.... tick.
6. Ecuador new laws signed that limit mining exploration based on NEW licences but old licences (like many SOLG hold) given protection or go ahead. This is important as SOLG holds greater acreage in Ecuador.
7. Markets beginning to signal that inflation looks contained (although needs to fall faster) and possible rate cuts coming so debt finance likely to be much cheaper in late 2023 or early/mid 2024.
8. Possible to look at early deals on open pit on Tandy or similar around Porvenir. Potentially mitigates risk on ENSA and allows low hanging fruit production to commence alongside Cascabel development.
Remember... SOLG's share price was fairly steady in the 36p to 39p range ahead of the PFS and tested 41p after PFS.
The above is all very positive yet today the sp is 15p. So let's face it... the market has lost interest in miners like SOLG and are happy to price the stock on the basis that nothing meaningful will happen. The market did the same with Noront. In situations like these the market is simply saying... prove us wrong and deliver a monetisation event and then we'll wake up.
And you know what... that's fair enough. But don't for one moment try and align the low sp to SOLG's world class Tier 1 assets and folio. That's nonsense. The market has proven to be a woeful valuation tool and real value will only be seen here ONCE Scot, Bob and Maxit deliver the deal. Until then it coul
Sharemarket.
the other thing I forgot to mention was your post last week. told me all I need to know about you.
"My ex used to live and work in Ecuador,"
I was determined after your latest wild claims to have no further dealings with you, and put you in my fantasists bin
but you post today was so full of lies, I felt I must respond.
but feel assured. tonight will be my last contact with you.
ex worked in Ecuador. and 7 recommended your post. couldn't make it up.
proves my point admirably. board for fantasists. impressing other fantasists
Sharemarket. have you and the seven who liked your post had the chance to reflect that every one of your
claims is a baseless fabrication,
and have you by any chance come to the conclusion that it says much about you. that you have to fabricate
complete fantasy and lies to look clever to the gang.
also why not respond to my post. posting my views on joint ventures.
or is it that I might have a point you can't countenance. so rather than respond, its easier to deflect with made up tripe to discredit the poster.
Orthern.
Your post.
"but how economically viable the extraction is, is still debatable."
This is the crux of our problem
Solg by their own rns said claims of tier 1 are subjective.
And adikt rather stale claim about companies not being terminally stupid to invest in us is correct.
He just doesn't understand, or doesn't want to understand the very basics, of companies and hedge funds and speculaters investing in exploration companies.
The money they invest is as I've proven peanuts to the multi billion profits they make.
Bhp even have a separate wing to oversee these investments. Witch total many dozens
It really is getting a bit tedious reading these posts from people who appear clueless to the realities of
Speculative investments.
Adikt just remind me what percentage of bhp profit did they invest in solg
Orthern.
Your post.
"
Orthern, you're right, the Crux report did set the cat amongst the pigeons, but it's interesting to note that since it was published we've had investment from two Chinese entities and have raised a considerable amount via two royalty deals from institutions which specialize in mining. And I think I'm right in saying both BHP and NCM have also invested more during that period - although not recently.
Of course, it's possible that these companies are terminally stupid, but somehow it doesn't seem likely.
Q, I'm still totally baffled as to how we're going to raise all this debt you talk about given we don't have a DFS, nor are we even working on one.
I think it’s fair to say if Solgold had discovered, through various technical studies, that Tandy was a viable open pit resource, we would all know about it.. and the share price would not be 15p. In reality we have had only hopefully, maybe and potentially with regard to the Tandy deposit.
And I think Scott’s re introduction of language, pointing to Solgold continuing solo with Cascabel, after his initial bluster, tells us everything about how discussions with potential partners/buyers is going..
We clearly have a large resource, yes, but how economically viable the extraction is, is still debatable.. Crux nailed this issue a couple of years ago. Many of the points they raised were never countered.
Good morning Bozi.
The idea of debt funding Cascabel in stages makes complete sense and I believe is the way forward.
I believe this is being looked at seriously.
Maybe with a JV maybe on our own.
Before anyone pipes up and says it's too expensive.
The answer is it's not.
Scott doesn't think so as he has now commented twice about going it alone.
We can do this in many ways, with a mix of someone buying into a JV. Plus loans which are staged.
Let's also consider offtake.
Their are other financial instruments àlso.
The calculation that we have to undergo is the payback period with accrued interest. Hence staging.
Sure someone may bid for us. But as Solgold has said many times before.
We are not going cheap and as I have said and been proven right many times before, we can defend.
Because we still have a diverse book.
In fact it is more diverse today than it has ever been.
Get the fundamentals of fund raising correct and the share price will rise.
Then maybe we can have limited dilution as the company has said to claw back some of the funding.
Sharemarket. I ve said exactly the opposite to the rubbish you just posted.
ive clearly said on many , many occasions, I expect a modest profit on my investment. check my posts before you end up sounding like adikt.
Ive also said on many occasions old bean, that I only invest in exploration companies, and have for many, many years.
I also have never said all my exploration companies end in disaster,
check last weeks post. I posted I invested in fmg when they were an exploration company. one of many
so on the whole your post shows what a clown you are.
Gandy being Tandy.
Eloro - how is SOLG way ahead?
We have a large deposit but the current studies we've spent years carrying out don't provide a viable way of extracting the resource. Gandy was sought to provide early ounces and we're still waiting to see if this discovery is big enough to prioritise via an open pit.
The other two you mention may well amount to nothing - no arguments there - but SOLG could easily amount to nothing too if we're not careful. Debt funding in this environment is a no-no for obvious reasons so it has to be someone with a lot cost of capital that has the appetite to take on the political risk.
I'd be wary of attributing what we've seen to 'delays'. Things are moving slow and price is down here for good reason.
NAL - just a word of advice old bean, perhaps investing in exploration companies isn't for you if it always ends up in disaster?
Previously you've stated that the risk here outweighs the potential upside, so how about you do the sensible thing, sell up and leave us all in peace?
Bozi, the companies I am negative about doesn't have a tier 1. Arc doesn't even have a resource estimate after 5 years. As for PRE, the leader couldn't organise a p I s s up in a brewery. Heck, he couldn't even pick a suitable site for his plant. I am positive that they will end in disaster. Solg is way ahead of all of them in that we have a tier 1. Lots of delays here, but I am confident we will get there in the end unless Perez nationalise our assets. Reasons enough to be positive I think.
Ftjny.
Not to sure how many exploration companies you've been invested in that went into a join venture.
But from my experience of being invested in 3.or 4 over the years, it's always ended up a disaster.
The big boys invariable murder the small boys and share price.
I'm sure quady and the other resident experts on here will post a list of where I'm wrong and they will show the odd jv that's worked. But they are very few and far between.
So my friend, it's not glass half full or half empty. It's cold hard facts, from experience. Not spouting clueless jam tomorrow, and all news has to be positive.
What is there to be positive about Eloro? The SP is languishing at 15p.
Can you explain why you are vociferously negative about the management of another company we both know well yet you're looking for positives here? Both companies are in comparable positions.
Some shareholders are fed up. They are harnessing an average of 20p+ and god forbid 30p in some cases no doubt. It's hard to accept such a destruction of value given we have this tier one asset, which, by the way, isn't as fantastic in this tightening environment as it was when interest rates were next to nothing.
We essentially need someone with a spare £5bn to pay us and then build it. The list of interest suitors will be short.
I think you're right Add.
A JV possibly sets the starting gun on a race for the door. The CGP investors aren't likely to want this outcome and PIs would get caught by the stampede.
That pushes us towards an outright sale. All that remains is whether we'll see a spin off. I'd still favour one but I suspect we probably don't see it.
Hmmmmmm
🤔
Eloro - Agree totally!
It's the glass half full brigade
The balloon poppers
The people who suck all the positive energy out a room
Why the he££ this lot are invested here I have no idea!
But as my dear Grandma used to say to me in her broad Lancashire accent " Aye there's nowt as quer as folk"