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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
I'm posting about you because you are irritating everybody on the forum with your irrational, irrelevant and relentless doom and gloom. As the saying goes, if you can't stand the heat get out of the kitchen.
I've posted a few dozen times, ever. Have a look at your own post count.
I'm certainly not the font of all knowledge, but I do possess basic language skills such as understanding the difference between a possessive noun and a contraction. (Clue...it's "you're" not "your")
I won't disagree with the last argument that you make. Sitting next to Quady on a long flight would be a horrendous experience for anyone, but I doubt even he can outdo me after a dozen brown ales, a curry and a couple of pickled eggs.
1982, ref my posting.
There is an old saying.
Instead of worrying about me.... Worry about WHY your worrying about me.
Further more mate, why do you post all day.
Are you that insecure, that you have to tell us hourly that your the font of all knowledge.
You even surpass quady, as the man you would least like to get stuck next to on a long flight.
Wait… this is like waiting for a pint of Guinness to be poured takes an absolute age but when it does arrive it sure does taste good
Rapide et intelligent
premier avantage investisseur
There, done it!
Bilingual: French and English website being constructed.
Takes ages to get it right!
Imold and grey my knees are bent my furrows are drooping over, soo long, im sure thats the start of a song, LTH here 2009, My point is, the majors want this for as little as possible, with the way the worlds greed is now, they need to remember expolration companies need to survive to keep the process going to feed their gold fever its or should be symbiotic.
Probably a sideways promotion to the bakery.
I would be staggered if the revamp of the website took anything like the 4+ months we've been waiting. It's just a static website, unless they're putting in lots of cool new features like a bulletin board where everybody is allowed a say
I'd tend to agree with you, although it could be they've made the only person in the office who knew how to turn the computer on, redundant.
Speaking of that website, I predict with absolute confidence that either
1. It is being held back pending some kind of reorganisation of the company and its assets or
2. It is being held back pending a bid for the company
The excuse given for its delay well over a month ago now would have taken at most a day to remedy.
Eagerly await the launch of our new and exciting web site, I had a quick glance at the current version.
Pollock is still detailed as being "interim CFO" working alongside Stackhouse who is described as being "CFO" I wonder if this is really the case?
Pollock is in Australia and Stackhouse is in Canada - I think. Is this deliberate, or does it merely reflect how out of date the web site is?
Then why post all day every day getting yourself revved up? You aren't going to alter anybody's opinion be they rampers or bears.
Mate, I never said solg wasn't viable.
I was merely pointing out to some of the mining experts on here that we will never build a mine.
I personally believe our only way forward is for a buy out.
I've read quadys expert views on a joint venture, as usual they don't stack up. A joint venture would be a disaster.
If you took the time to read my posts, I've said on many occasions, I fully expect solg to be sold and make a modest profit.
Unfortunately the hysterical pack read what they want to be said, ot what has been said. Hence the mass hysteria
NAL, in response to your question, I guess I am wondering why you are here posting every day if you truly believe that solg is not viable?
I have to agree with you though regarding the hilarity of folks claiming to have inside contacts which the rest of us doesn't have.
Scott confirmed that we have had tyre kicking, and no bid to date. That is public knowledge.
I guess I find it hard to believe that 1 contact would know if and when a major, out of all the majors, will make a bid. Would they notify him/her before making said bid so that the privileged poster can gain bragging rights here by posting that a bid is about to land? Not even solg insiders would know for a fact until they actually receive a bid. Inside contact statements should be taken with a generous amount of salt.
Given that the run-off won't happen until October, does this mean Lasso stays in the chair until then?
If it does, perhaps he'd be kind enough to sign the new IPA and grant us the water and environment licences. The last time I asked him something similar i.e to make the best of his remaining days by signing the mining licence, he did as he was told.
Copperpot. You are funny mate.
You've spent years ridiculing quady,
He backs up you hilarious claim of having a contact in solg, by remarkably telling you he has a contact also in solg.
As if that didn't make me laugh enough.
Bugger me, you both asked your contacts the same obscure question.
Really mate your a funny man.
Of course I am assuming your making these posts to make us laugh, and forget about the share price in free fall