Stefan Bernstein explains how the EU/Greenland critical raw materials partnership benefits GreenRoc. Watch the full video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
SharketMare I do not have it the wrong way round.
They don't hand out exploitation licenses to anyone.
The whole point is with the exploration licence, we have to prove it up and acquire the required permitting.
To get the exploitation license we need to show how we are going to build it
I am unsure if we also need funding in place to acquire the licence, but it's not as simple as you believe.
I should think the strategic review is considering all these aspects.
A granddaughter @ 9years and you still spend all your time bashing a share. Please dont share this expertise with the little girl. My sincere wishes to her for a much much better life.
"But somehow we require the exploitation license and to get that we need to construct Alpala."
Quady, we can't construct Alpala without an exploitation license. You have it the wrong way around.
Love your use of emojis novice. do you know theres an emoji movie out over here. I watched it with my 9 year old granddaughter. if you get the chance, you should give it a look mate. I think you will enjoy it. also loved how you twisted my name. pretty clever mate
Covgaz we may one day get a buyer.
But somehow we require the exploitation license and to get that we need to construct Alpala.
Until there is a buyer.... which could be Monday week or Monday in 5 years, so relax cov, 🚀
And there is no buyer
Alpala isn't a mine....
Fortissimo well put there exactly
Ecuador was due to go to the elections in Feb 2025. Any buyer of Alpala will know this. Just like they know Ecuador will go into elections in 2029 after that and 2034 and so on. Alpala is a 30 to 50 year mine. Mirador whilst much smaller has been running 'production' during Correa reign in 2019 through to Lasso now. They've not been effected. Why would they?
At end of the day, political is 'heated' in South America but 99% of the time business remains unaffected. Yes, you will get some constant lefty governments upping taxes nominees from time to time but it rarely lasts. Even UK ups taxes on likes of BP and Shell et al when prices are high although to be hints it's lip service stuff and more Storyville headlines for Tories rather than real deliverable action.
For the Chinese, they have a way of being the sugar daddy for Ecuador - it gives them the unique position of holding 'debt' as leverage tool. The chinese would be the best bet for Alpala if you were going on the basis of who would carry the most power with an Ecuador gov. China or BHP or Anglo etc. China wins hands down.
We've had left and right already in Ecuador running the show and it's not effected SOLG at all. The left are pro mining and the right are pro mining. And let's face it, with high inflation and post covid woes... every country out there needs big business to do well and boosters to GDP. Ecuador people want better wages. They want lower prices on day to day items. A new government are going to need loads of wonga coming in if they want to stay in power beyond Feb 2025. So I see the future as bullish for mining in Ecuador on that basis alone.
Never forget that mining industry here is now about 4th biggest earner and contributor to GDP. Any goverment wether left, centre or right would commit financial harrikarri if did not support!
GLA
DK
Looking in from the outside understand a bit of trepidation! Would be interested in any Ecuadorian or ex pat living here views??
GLA
DK
Evening all.
Have been layed up in bed for past few days a bit ill, but back up and running ok, to find this current situation.
Lasso perhaps didnt fancy his chances with the national assembly, so he has surely on the back of advice invoked the cruz muerte, cross of death, or mutual death( however you wish to interpret it). Basically means he will rule by decree until new elections can be arranged for both national assembly and presidency, I would guesstimate 5 to 6 months. As I understand his comments he would rather take his chances with the electorate than the disruption seeking Correist infested national assembly. Good decision, who knows? Risky? Yes. Best case scenario is re elected, worst case IMO is Correo backed opposition is elected ( maybe by proxy cos if Correo returns in person he himself will be arrested on previous corruption charges ! )Dont forget this is politics and also this is Ecuador. If you cant take the heat, get out of Ecuador kitchen and go cook in Oz or Canada etc.
ATB
DK
I think Ortherncopper answered your question Bozi.
Timing is everything and there's transformational and there's delusional, not saying that you are by the way.
Can you remind me who the first bidder was ?
Without Govt permission it's just a lot of long holes in the mountains, then the licences run out and then it's the Govts collection of long holes in the mountains that somebody was good enough to show them was full of copper and gold.
You've got to know when to hold 'em etc .
To be fair Bozi, if we had flipped it… let’s say around the time BHP were happy to pay 45p for a small stake, we would not have been rueing the lost opportunity cost of sticking with it for the last circa 5 years since then, hoping for transformational growth
Why Jezzoo?
On what planet do you find a tier 1 and flip it on to the first bidder?
SOLG might come off. It might not. But some of us were in it for transformational growth, not a flip and onto the next one jobby.
Well said bubble , that suited your agenda then. This share is a shocker , how could anyone hold confidently?
BPHL and Scrat good posts there recommended,zoros as ever on form with your negativity does make a good opinionated board lol!!:):)
Reuters) - Ecuador could hold early legislative and presidential elections on Aug. 20, the electoral court said on Thursday, a day after President Guillermo Lasso dissolved the National Assembly by decree and brought forward the vote scheduled for 2025.
Lasso invoked the constitution's so-called "two-way death" provision on Wednesday, which allows the president to call elections for both his post and the assembly under certain circumstances, including if actions by the legislature are blocking the functioning of government.
The embattled leader cited Ecuador's serious political crisis and domestic turmoil as reasons for making the move.
Lasso faces an impeachment attempt by opposition politicians over accusations he disregarded warnings of embezzlement related to a contract at state-owned oil transportation company Flopec. He has denied the accusations.
Lasso will remain in office and govern by decree until his successor and a new legislature are elected, according to the constitution.
The head of Ecuador's electoral council, Diana Atamaint, told local channel Teleamazonas the vote will be set for Sunday, Aug. 20, according to a preliminary timetable and in compliance with local laws, adding the date must be approved by the full court.
If there is a run-off election for president, it could be held on Oct. 15, Atamaint said.
Opposition lawmakers are hoping the Constitutional Court, Ecuador's highest court, will rule quickly to block Lasso's dissolution, which they have described as illegal.
Lawmakers of the dissolved National Assembly said they will respect the court's decision, even if it upholds the president's actions.
"There is a fairly high probability that the decree will be declared unconstitutional and that the Assembly will return to its duties and go back to the impeachment (of Lasso)," said opposition politician Esteban Torres.
Inclined to agree. Lasso wants a mining industry for sound capitalist reasons. He won’t be blocking anything by presidential decree. He might even be calculating his next civvy street career move too in the event he ain’t re-elected. And the Chinese seeking influence will likely fund serious candidates in Ecuadorian politics like big business would down our way. They clearly want chunks of the world in their sphere of influence so lending money for investment and supporting ‘sound’ politicians will be their game plan. If the pendulum is swinging left, I don’t see it as necessarily bearing down on our ventures. Understandable flap in the share price and a buying opportunity for the brave.
While I think Madpunters optimism that Lasso could survive in the medium or long term (highly unlikely) is highly unlikely I am of the opinion that the negativity from the usual suspects is also overblown
From what I have read the reasons for Lassos demise centre on crime, cost of living and corruption . I have seen very little , indeed nothing , to suggest that existing mining projects are in any danger . Certainly the Chinese with their investments and trade deal have not been deterred....and they will obviously be following developments closer than most.
Is it really likely that even a left of centre incoming government will choose to alienate the Chinese, disuade investors and move against probably the most ESG sensitive project in the country ? No chance imo
The Chinese , and multi nationals, are thinking in terms of decades. They know there will be governments of all persuasions during that period; some more business friendly than others . They will take the view of the possibility of nationalisation of industries such as mining in their calculations - just as private investors should ...(.sometimes I wonder if some of our solg investors posting have done any research into the country they’re involved with)
Anyhow, the point is the Chinese are still there in Ecuador ; Indians are still in the wider region all looking for long term copper supply for the smelters they’re constructing on a large scale . The Ec/China trade deal was still done .....a week ago ! ; corporate deals are being done . And I doubt any discussions on solg will be abandoned just because of some political turbulence which every sensible person should regard as an inevitability in S America .
The worst case scenario imo is a delay in our progress toward a sale
If there was ever proof that greed never ends well it's here today.
I bet Mather wishes he'd sold it years ago, he could be two or three deals down the road now.
A few on here will be secretly thinking the same but will never admit it.
Madpunter - you’re in Cloud cuckoo land
Prepare for months ( if not years) of nothing happening
Z
I find it hard to believe that Lasso - wallowing in the polls and unlikely to win the election - is going to double down on one of the main things the opposition party is vehemently against (mining).
As I said at the time I had 3 trances of 10k at 24p 16.2p and 14.2p and sold the lot at a smidge above 22p and did okay. Just wondering if I should try the same tactics again starting at 16p tomorrow reason being buy when things don't look great ?