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£1 a share?
I never believed I would say these words but QUADY I HOPE YOU ARE RIGHT.
I need to go lie down in a darkened room now 😂
Delusional as ever copperpot.
Correct Copperpot.
No one is going to pay less than 3 billion dollars. Because it just won't be accepted.
That's one pound a share everyone.
Personally I think we get more.
This hasn't changed at all, it's still the same story.
You pay full value if you want Cascabel.
We are now coming to an interesting juncture.
Within six months construction starts at Cascabel.
NM would laugh at the thought of 60p.
End of!
I think the way to get Mather on board with a 45p or 50p ish offer is to pitch it as ENSA only and then allow Mather to head up the exploration spin out company with Porvenir and other high targets include. I get the idea that all Mather wants the opportunity to prove there's another Alpala out there within the SOLG folio. That's what floats his boat. Put him as CEO of the new exploration business... Exit Scott... Maxit et al along with ENSA sale etc and off we go again. Of course Maxit / Bob and co will retain their typical 20% interest in the exploration NewCo and wouldn't run out a placing with Chinese for 20% to fund $30m 2 year exploration plan.
Plenty of ops to sweeten the pie for all involved but if you want Mather to accept sub 60p for ENSA... then you gotta give him the opportunity to find another. Simple as that. IMHO of course.
Not sure if this has been posted already
https://www.bnamericas.com/en/interviews/ecuador-looking-to-advance-mining-projects-before-govt-ends
I guess that’s very much my line of thinking Fort - I’m honestly not as concerned as I once was about getting top dollar (I know that sounds a little foolish) but personally I’m sort of aligned to CGP - if indeed their thinking is let’s get an exit and let’s get it over. I also think your bang on the money that they would move on at 40p
Mather will no doubt want more - but he’s had his crack at it and his original dreams of £1+ or a company to rival BHP are consigned to the past now
The market is absolutely dire right now - however if we get an exit during this slump then there are plenty of buying opportunities around - for me risk can be spread and the SOLG journey can be put to rest.
As for my done and dusted by the end of this yr - it’s based on Elections being over by end of August , agreements in place with the govt and fingers crossed first bid received ….I am mindful that we still need a catalyst for the opening bid to be submitted and honestly I don’t know what that will be
35p certainly won't cut it with likes of Newmont and BHP nor Tenstar or Mather. No way they'll let Chinese have it for 35p. I think 50p is the lowest offer price that would likely be given serious consideration. One way to sweeten a 50p offer price (as opposed to something like 60p) would be to agree 50p for ENSA and then give Shareholders full exposure to exploration vehicle / spin out folio which has Porvenir, Bramados and few other blocks thrown in with likely market cap value of around £100m or so giving Shareholders another 3 to 4p if they want to exit or opportunity to roll the dice on exploration again and possible to see that 3 or 4p level turn into 8p or 12p (£200m or £300m market cap) upon some discoveries, thus returning a further 12p+. Of course could be much higher if you see holes like that seen on Alpala.
Yes discussions will be ongoing with mining ministry and lasso etc but I think it's important to remember that Maxit are fully incentivised (with their large holding) to get a monetisation event under way. As Irwin has hinted before... the market is down at the moment and there are loads of cheap opportunities elsewhere. Some of these are beaten down to price levels that look very attractive. Hence the thinking for Irwin and Maxit et al is different to pi's. They will happily take 40p+ if ti means this happens soon and they can then deploy that cash into cheap stocks that potentially turn that 40p into 80p with short period of time. There comes a time or a pivot point whereby it's pointless wishing for 60p or 70p on SOLG when other target investment stocks are recovering 30% to 50% from lows. Eg... miss that recovery phase and you've missed the op to capitalise on being cash rich (post SOLG sale). So tricky one for the big boys and that's why 40's might be a goer for some.
I genuinely think that any low ball offered in the 30's will see counter offers. So certainly possible that the first offer is mid 30's. But that won't succeed imho.
How soon is soon, Pad? Put a date on it or it's just meaningless ramping statements. You must have an opinion on the when- why else would you be sat in this share waiting for years like me? Do you agree with dg1 that it's before Christmas. Or end of H1 next year? Or 2025? Go on- be brave and then hope you're not wrong.
For balance, the majors you speak of have had months of this new, cheaper level to increase their holding and decrease the price they would have to pay if they fancied a TO. They haven't, so I think we can conclude that NCM and BHP are not thinking about solg much anymore. BHP have their own exploration office in Ecuador, but haven't increased staffing their since inception. Jiangxi have almost returned to their pre-dilution percentage (not quite) but seem to have ended their buying, and the other two haven't topped back up to 13%, seemingly happy at 10%.
"Tier 1 asset!" is the fall back of most of you guys. I wouldn't be here if I didn't rate the minerals in the ground, but remember that we're invested in a company that has bought the rights to explore, assess, develop and fund the construction of a mine. So far, we're only two stages in, and our exploration licence at Alpala is time limited. Our currently leadership have been bullish in their substance-light comms, but they're going to have to get down to some serious business if they expect the government to sign exploitation licenses with them and not someone else.
Oh and just to add 35-50p is without competitive tension - (just my estimate) we get into a bid scenario and we can exit a lot higher
yea i’d agree pad. indeed the article does serve as a timely reminder that discussions are ongoing and although we are not privy to every piece of the jigsaw it does feel as though the jigsaw is nearing completion.
a good few yrs back now i always thought that solg would jump to 70-80p as a circa final price from around a 35-40p base - indeed it’s why i didn’t cash in on the good few times we managed to get into that range.
my thinking is now 35-50p as it would seem the chinese want a bargain (obviously) and the majority of holders want an exit - and time and money constraints will begin to weigh on proceedings
i do think we will be all done and dusted here by xmas - and for the first time in a while i’m going to start adding some chunks of shares here with some surplus cash and a few rotated shares
recession is heading to the u.k. and aim is on its **** (i know we are not aim) there are not many plays out there which offer the upside i believe we can achieve here in the near term (6mths)
i haven’t been in this share for the yrs that i have to reach this later stage to not have a full and bristling holding
good luck all and have nice weekends
Articles on record refer to the construction of the Cascabel mine will commence next year.
Much will be happening if importance behind the scenes which are restricted through confidentiality and NDA’s.
Anytime soon there will be the mega RNS we all await.NM, with his circa 90m holding will influence having a proper return for shareholders.
Roll on Monday and don’t be deflected by the clowns from the fact that we have a tier 1 asset which the majors and Chinese want and the Ecuadorian government support for its development, never minding our first mover cherry picking of the premium tenements we hold which have the potential to replicate the Cascabel “gold mine”.
IMHO GLA
Roxi, that's precisely the point. It's ridiculous to assume SC is relying on engineering studies etc to deliver shareholder value and there's no way the company will continue with its current level of activity until the money runs out. Fundamental change is on the way and that last presentation was notable only for what it didn't, or couldn't, say.
Lots going on behind the scenes , we are not aware of or informed, nice update DBW
Agreed Q, a JV could indeed be on the cards, however my personal opinion is that this is unlikely. Time will tell but late summer things hot up here for sure. C
Good morning highflyingman in the interests of accuracy.
He said in the same presentation that should someone put up a sum of money that we would build it.
Hence joint venture on the cards
Great find DBW. Sounds like a strong commitment to progessing Cascabel soon.
Tesla.. 'we are mine finders not mine builders'
...End of.
Could be a quiet few weeks here until which way the elections are going before things pick up, still patience is required and time to top up. I've added another 250k to an already strong position.
Have a great weekend non trolls. C
‘SolGold has very good relations with the community. It has done very important social and environmental work in the area. We’re very excited that they can move to the production stage.””
Seems to confirm everything Quady has been saying all along, but then DBW you only pick the bits which tally with your ramping agenda…..no surprise there then……..
Thanks DBW a great find and bang up to the minute, such a refreshing change to the usual tit for tat nonsense that is now common place here due to a couple of trolls paid by LSE to generate post numbers,
Completely comfortable here even though the last 18 months have been somewhat frustrating following that climb to 40p. however happy to wait for the rewards, have a great weekend all
Great find DBW, thanks! That’s a good start to the weekend!
So with all the requisite permissions/licenses in place to produce……what will this be worth???
Seems the plan is to unlock the value then let the auction begin
Https://www.bnamericas.com/en/interviews/ecuador-looking-to-advance-mining-projects-before-govt-ends
“The government of Guillermo Lasso, which ends in October or November, is striving to progress with some mining projects so final decisions can be made by Ecuador’s next president, who will be elected August 20.
According to official information, only around 10% of Ecuador’s territory has been explored, implying significant potential for new discoveries.
BNamericas speaks with the energy and mines minister, Fernando Santos, about the status of some projects and other matters.
Santos says mining, in the future, will replace oil as one of the country’s main exports.
BNamericas: How far will mining processes advance during the remainder of the government?
Santos: We are continuing negotiations with SolGold so it can begin construction of the Cascabel mine.
We are analyzing with them the economic issues and the amount of royalties. According to the law, royalties must be between 5% and 8% of production.
It is believed that Cascabel is one of the largest mines in the world that is not yet in production, so there will be a very strong economic injection for the provinces of Imbabura and Esmeraldas.
BNamericas: Is SolGold planning to build a mineral pipeline?
Santos: That's right. They would take the material through a pipeline, which they will build themselves, to the port of Esmeraldas.
Cascabel is a project that will require an investment of about US$3bn, which we are looking at very carefully.
SolGold has very good relations with the community. It has done very important social and environmental work in the area. We’re very excited that they can move to the production stage.”
The good thing about having a short memory and a rampy heart (hi dbw 👋) is that you can forget all about posting that 16p was the bottom when the sentiment changes, and just spout about topping up at 13p! Must be nice to be that much of a simpleton
DBW, it’s a rollercoaster for sure.
I don't know about 12, but this seriously needs some good news, that's for sure. I'm guessing 13. If so I'll be buying heavily by my standards.