Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
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Very interesting the size of the drop-off in support for the eco nutters, proving that the virtue signalling about the planet is simply a passing fashionable thing to do and that when faced with real life problems like job prosperity and crime, people will think very differently.
I have a feeling in my waters that we will have an RNS tomorrow morning with an opening takeover bid from what i have heard on the jungle drums, starting around 55p. which will of course be respectfully batted away to fine leg.
ONWARDS & UPWARDS !!!
Thanks. A very useful take on things.
The Presidential Election from Luminex to its shareholders which IMO has lots of positives for Solgold shareholders:-
The Ecuador presidential snap election occurred on Sunday August 20th. The winner will be in power until the next president is elected in the regularly scheduled election in H1 2025. The results from yesterday should allow for the continuation of support for responsible mining in the country. Luisa Gonzalez (UNES - Correa's party, 45 years old) finished in first place at 33%, with runner-up Daniel Noboa (ADN - 35 years old, centrist, business-aligned) at 24%. Both will advance to a run-off election to determine the next President on October 15, 2023.
Gonzalez has polled strong the whole campaign and was always going to be a front runner. The Correista party can usually count on ~30-35% of the vote.
Noboa surged in the last week, following a positive performance in the debate. Pundits believe his pragmatic non-populist message resonated very strongly with Ecuador's large under-35 voting populace, who are sick of hearing about the past (Correa and anti-Correa) and embraced his optimistic entrepreneurial vision that stressed the need for training people for future opportunities.
The single issue candidates (Jan Topic - security and Yaku Perez - environment/anti mining) underperformed. Topic will probably be back for the 2025 elections, especially if public safety remains an issue, and could even have a role to play in Noboa's cabinet. Yaku Perez will likely have a very hard time recovering from this election, as will the indigenous political party Pachakutik, which it appears will go from having about ~20% of Assembly seats to around 4%.
Both candidates can be expected to be supportive of mining. Gonzalez can be counted on to have the same position on large scale mining as her party boss Rafael Correa; it is a strategic pillar of the country's future development. Noboa has said that he supports responsible mining, but stressed that it is key for the State to modify how state revenues are distributed in order that the local populations can feel that the activity benefits them directly. The Noboa family have a direct stake in the development of the Curipamba mine through an investment in Adventus Mining -- the Consorcio Nobis have a seat on Adventus's board of directors.
The Assembly: with 38% of national ballots counted, it appears the Correistas will again be the main legislative force, with about 50 of 137 seats. Four center-right alliances will combine for about 45% of the chamber: 28 (Zurita/Construye), 12 (Noboa/ADN), 14 (Topic/PSC), and 7 (Sonnenholzner/Actuemos). The Indigenous party, Pachakutik is forecast to drop from almost a 20% representation to five seats. This bodes well for preventing any populist legislation, however the prospects for positive reforms are mixed. The parties will likely be jockeying for the 2025 elections from day one.
Bbg. here's another one from 3 years ago.yes mate 3 years ago. a double whammy
1, your telling us a bid is imminent..............
2, you abusing another poster,,,,,,,,, two of your proudest moments.
please read it and reflect.
" Quady - you are deluded if you think BHP has not already presented an offer.
Read the article. https://www.marketwatch.com/story/solgold-shares-up-after-bhp-billiton-bid-rejected-2016-10-10
Promise me you will phuck off when a bid arrives over next few months "
what happened to the bhp bid mate
Dm.best we hope we get a bid before we start mine building then.
Would you trust em, with multiple billions???
I think you meant....'As most on here know, you can't release an RNS of material news until it is finalised.'
Adikt. What did amuse me was the amount of posts where bbg tried to show you as an arch deramping infesters.
But don't worry mate, your one of many to feel his wrath.
In fairness you certainly are not.
But his clearly shows his hysteria
Bbg. I'm not sure what a pleb is. But I'm aware what a clueless invester is.
You have been saying for more years that I can remember, that a bid is imminent.
I just went back and picked one out fro. 2 yes 2 years ago.
"This screams imminent bid, perhaps one which the board has accepted by BHP.
Is this enough to force any third party to come forward and show their hand??".
But i could of picked one from any of the last 5 years.
Your posts for many years have also forecast ridiculous share prices. And been littered by trying to berate any who show you for what you are.
It must be the heat in Australia or Italy or wherever you are now..
Anyone else having problems with the board updating posts? I can see people have posted something but the post itself is not visible.
Morning fort
I’m convinced there’s more to the delay than meets the the ..,,or maybe wishful thinking
Here’s the latest
“There are a few fixes the web company is finishing and then it will be good to go. Should not be long now. Apologies for the delay”
I think out of all the rampers on here, you are actually the worst of the lot, excluding red ramper of course, as you actually post sh*te that tries to be or complicated than it needs to be, as if you know what you are talking about. When you read the junk you have posted over the last two months you have used every excuse under the sun as to why a bid hasn’t arrived……
Pleb
You think, your hunch, I'm guessing, I'm assuming.
Just a few of your words not mine in your last post fort.
Just a tad short of anything to back up your thoughts, your hunch, your beliefs, your assumptions.
But none the less you as always wrote an essay
Excellant results Italian.
FMG announce there dividend next month.
I'm fairly confident of a dollar a share.
Not bad for someone who u can't spell and doesn't know what a noun is.
I will update you.
Oh I forgot to mention I paid $2 a share. Now $20 odd dollars last time I looked.
Maybe get enough dividend to pay for an education, and be as smart as some on here
I think it's more likely that the new website (when it arrives) will show a significant reduction in tenements. SOLG have around 60 and each one has a cash burden... or situation that comes down to (in simple terms) ....drill it or lose it.
I'm beginning to think the new website will be setting out the stall for the newco... assuming SOLG (the brand) goes with ENSA when hived off or sold.
They'll need to set out clearly what the 'exploration' business looks like and what the cash demands and commitments are if looking to raise cash to explore. Basically almost like an IPO.
Just a hunch, but I think it's all done and dusted and they are just buying sometime now before announcing the big news to the market likely in September when everyone has returned (st ledgers day and all that) or most likely October.
The only way SOLG can move forwards (as an exploration company) is to split itself from the burden of ENSA or vice versa, split ENSA off from the burden of exploration business which requires constant source of funds from a different investor entirely. That's the problem here. When you head to development, you have more financial / debt based driven investors who do not like direct non project linked cash burn.
There is a reason why they have had to drag their feet for the last two months but recently signed agreements with Ecuador gov suggests we are close now. Perhaps the politics / elections adds another dimension too with the newly elected president keen, I'm sure to announce a multibillion dollar mining investment early in her reign (my assumption there).
Steady on dbw.
Your beginning to sound like one of my posts from months ago.
When I posted,
I'm still confident of making a profit, but stormy seas lay ahead.
I was slated from pillar to post, for daring to state the obvious. Even got a padmaster ditty.
But it appears there was and is stormy seas ahead.
And adikt, get real. Have you not heard of the domino effect. North of the country today, but tomorrow?????.
Long, long, way to go yet. Just have to keep the faith
Just been published, just one mention of Ecuador and one of SOLG in the footnotes, plenty of other copper-related investments elsewhere. Just for the background....
https://www.londonstockexchange.com/news-article/BHP/bhp-fy2023-results-announcement/16092464
Every cloud...!
Will the new web site say something like: " We've got all these tenements, but as testament to our genius we've deliberately done nothing with them"
Solgold have saved millions by stopping all drilling in other tenements.
Cascabel certainly appears to have been given a special dispensation, possibly via the IPA signed last year.
I suppose we can boil this down to the fact that Ecuador was clearly signposted as a "yellow/amber light" zone/district when SolGold initially did the JV with Cornerstone, and that's how it's proved. If we're being completely honest we'd have to admit that the light is more likely to change to red than to green and we can talk about the reasons for that until someone gets Cascabel to production.
The rest of the regional portfolio would need a softly softly approach. It would be about educating the population on safe mining practice and any other initiatives such as reforestation, repatriation, etc. It would be for the citizens to decide.
I daresay that the regional portfolio could provide long term value to an acquirer but a conversation clearly needs to happen. Nobody is going to pump millions of dollars into exploration drilling only for a discovery to be kyboshed.
DBW, every recent article on this topic specifically mentions Casacbel as progressing.
Addinct
the problem appears to me countrywide now … more so in the North than I thought ….. here’s a similar version in English…. Give it a read ….. cascayis gold dust literally but the rest of the portfolio??
Relates to oil as well as mining
https://nationworldnews.com/indigenous-peoples-and-environmentalists-hail-ecuadors-vote-on-the-amazon-oil-bloc/
DBW, surely the issue relates to location? Potential deposits in protected areas should be left well alone, not only for the people who live there, but also for the planet.
We've been assured many times in the past that none of our tenements are in protected areas, but I see this as an irrelevance as we'll never get round to doing anything on the majority of them. They have no value now and it's unlikely they ever will - at least not in our lifetime. In fact, it sometimes feels to me that we keep them simply for the bragging rights, although I accept this is probably an overly cynical view.
Incidentally, Perez came fifth in the first round, which tends to demonstrate the electorate have more important things on their minds.
Highlights just how difficult it is to get things done in Ecuador at the present time …… viable mining projects gonna be few and far between …….
“Opposition to mining is blocking some $1 billion in potential investment over the next two years, according to Ecuador's Chamber of Mining, though a key project by Australia's SolGold is going ahead.
"Obviously, what happened in Yasuní and in the Chocó Andino does not help any investment, neither oil, nor mining, nor any foreign investment," chamber president María Eulalia Silva told Reuters, adding that the investor seeks legal security.
"You can't protect the environment when you have poverty-stricken communities," she said.
Mining was Ecuador's fourth largest source of income last year at $2.8 billion.
On Sunday Ecuadorians also voted to elect a new president, to be decided in a runoff on October 15 between two candidates from the left and right, Luisa González and Daniel Noboa.”
Here’s the whole article worth a read
https://expansion.mx/mundo/2023/08/21/ecuador-gana-si-consulta-yasuni?_amp=true