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Add - I did say that I thought it was detailed as ending in June within the prosepctus - he said this has not been said - its very much open ended but he did say this could change in the future
I positioned I wasnt happy with the article which detailed Bob Sanghas fast and smart bat - I thought it was unprofessional
Scott - Bob is a shareholder and is entitled to say what he wants - like all of us
Re-iteration that we are Moine finders and not Mine builders
Ecuador want this mine built
News will be given when things are agreed or concluded - we will be moving away from promises and timelines that dont come to fruition
Cascabel is a huge asset - Ecuador knows it - they look at jobs and development and revenues for yrs to come - In all likelyhood we wont be mining it ourselves
Scott welcomes discussion with Newmont and will engage with them when the time is right - Cascabel is far better than anything that Nwmont currently have in their stable - and they are gold copper focused - C/A NDA will hopefully be signed in the future with Newmont
It is hoped that Lasso will sign the IPA (investmnet protection agreement - shortly) Both IPA and Exploration Licenses are still moving forward and very much expected to be approved
Scott spent time discussing the geology and sampling and ongoing works - which was interesting but went a little over me (sorry guys)
It was mentioned again that drilling has finished at Cascabel - although engineering studies continue - it was siad that Cascabel is absolutley huge - it could indeed get even bigger - but making a huge discovery even bigger might not really shift the dial
Scott will engage with investors - he's open and honest
My own very brief summary
Do I believe SOLG will be sold tomorrow - probably not
Do I beleive ongoing discussions are happening with interested parties (yes I do)
Do I think the political situation has slowed things a bit (yes I do)
Do I think political change is a show stopper (no i dont)
The SR is open ended - confirmed - with the caveat that could change in the future
Did I feel more assured about whats happening (yes I do)
Thats it guys and gals.......take it as it is......I hope it helps somewhat
Thank you for arranging the call and reporting to us, really appreciate that DG1.
Thanks DG1, I look forward to the rest.
"No end date to the SR..." Then why did they say there was?
In fact, if you think about it part of our problem, if not all of it, is attributable to a lack of clear strategy and can be pared down to the simple question; will we become miners or are we explorers? Personally, I think this question has always been the one the market has had a problem with, because it's never believed we can become miners.
As far as I'm concerned, the SR is designed to resolve this issue. We need a clear and definitive statement that says one thing or the other. We cant say we want to be miners if we don't really believe we can; equally, we can't say we want to sell if there are no buyers.
There's another mystery: I really don't see what either Citi or Maxit can add to the mining route, other than possible financing options. They are bankers and corporate financiers and don't have a scoobie about how to build a mine.
I had a 45 minute zoom call with Scott and Christina today (the lady who works alongside him)
They were kind enough to afford me this face to face meet (via zoom) following myself reaching out on email a few backs asking some questions and painting my own personal position of dissatisfaction
I'd hasten to add that I had to re-arrange the call a few times due to my own work commitments - which they accomodated with understanding and respect.
I'll provide my notes below
Please remember these are notes I compiled during and directly after the call - I can vouch for them being an honest summary / although I may get some wording wrong or my interpretaion may well be incorrect - but I've done my best
Firstly Id say this - Personal opinon - I believe Scott and Christina spoke honestly and openly - I didnt feel like anything was being hidden or misdirected - they were both incredibly warm and listened to my concerns and answered as best they could without breaking any inside rules
Furthermore - they are 'very' open to increasing dialogie with UK Retail Investors - they asked for suggestions on how this could be progressed - and suggested open forum webinars - which they would co-oridnate (with acknowledgement on both sides that these are not easy to run as its impossible to appease everyone - but the gauranteed honesty and openness)
Notes: In no paticular order - I'm not giving context to each of the notes as I cant quite recall every stream of conversation - its just the notes as I have jotted them down
Solg indeed envisaged and saw coming the political change that is now happening - with Lasso having 14% poularity it was somewhat enivetable
It has slowed things down with with discussions with parties privy to the data room
Was positioned as a slow down rather than an end to discussions - obvioulsy nobody for sure knows what happens next poilitcaly in Ecuador so a breather was to be expected
Scott is based in Quito and sees no disruptions on the streets
Some site visits have been postponed / delayed
Strategic Review couldnt comment too much - there is 'No' end date to it currently although this could change in the future - its an onging process
Current News flow is not the real sexy stuff that retail crave / Cascabel is more engineering type studies
Some of the prospect targets which have come from CGP look very good and have moved into top 10 targets - rising to the top of the ranking list
Not a lot of exploration on going right now
Cost cutting was a necessary - Scott appreciates this doesnt per-say drive SP and is almsot a position that we should have been in in the first place - now we are doing things correctly and sensibly
No equity perceived to be needed in terms of a raise for 12mths
If CGP shares are sold (the ones they owned of SOLG) - it would cause no further dilution - there is no current intention to sell these shares
in the field they are close to finalising a low cost option for t
Ship, off the top of my head I can't recall exactly where it appeared. However, we've had a number of recent conversations about this and someone provided the reference point to Quady, I think. It's there in black and white somewhere and end H1 was given as the deadline.
In any event I'm not sure how you can have an 'ongoing' strategic review. A board of Directors must set a definitive strategy which, by definition, sets an end goal. The variable parts are the tactics adopted in order to achieve the strategy - at least that's my interpretation.
If you can learn to spell it, I'll tell you!
Nice volume again today and the way the sp is swinging.... you never know.... news might at last be just around the corner.
Remember, Noront was just 23 cents and looking very unloved and unwanted. Days later is was being fought over by Twiggy and BHP.
If BHP dropped an offer direct to shareholders (unsolicited) at 40p.... it would certainly put the hornet into the bees nest.
How are cannacord involved in all this?
Add, can you point me to where it is mentioned in the prospectus. I have talked to Scott and he is quite clear that there is no end date just an ongoing process
They're safer bets. People cash in their riskiest assets first when they're pink lint
Rio BHP and Anglo etc are all green today… impending worldwide recession isn’t sinking them today.. though I accept it is coming..
Good afternoon Ortherncopper, it's just low volume.
No one interested in Solgold at this moment in time.
The impending massive world recession?
Just checked all the major Ecuador news websites and can't find anything significant. Not even on prensaminera.org which is dedicated to the local mining industry. Maybe it's BR abandoning the ship? It would be good to get some positive news from the company for a change..
Https://theorg.com/org/solgold/org-chart/santiago-vaca
Interesting read on Santiago Vaca.
Been with Solgold since 2014, a long, long time and his portfolio states that he clearly has insight into where Solgold is possibly heading! Yes, would be most interested to hear what this man has to say!
Miners suffer ASX slump on China gloom
https://www.miningnews.net/capital-markets/news/1453759/miners-suffer-asx-slump-on-china-gloom
NEGATIVE manufacturing data in China meant sellers got active Wednesday, with Metals & Mining falling more than 2.3%.
How is that relevant to the Solg share price???
The drop maybe to do with bhp today losing a case bought by the unions. Bhp have been under paying wages and not giving correct holiday entitlement to there staff for many many years. They have agreed to pay many millions in compensation.
Https://www.dezeen.com/2023/05/30/philippe-starck-skyscraper-guayaquil-ecuador-yoo-gye/
You would think the locals would be more against this luxury monstrosity being built in the middle of nowhere, than any underground mine that will provide generations of jobs…
Can anyone care to guess what is causing todays slide? Gold and copper prices are doing ok today.
Is there something I’m not aware of?
Be interesting to hear what Vaca has to say considering exploration at stand still. Steve Botts there but under Santa Barbara.
BHP there along with Lundin and others.
https://cgsorg.com/cgs-events/cgs-ecuador/ecuador-speakers/
I know mate. Pure bloody fantasy.
We had a fella on here a year or so ago who told us he had a contact on the solg board. The deniers used to hang on to his every word. Bloody priceless. What never ceases to amaze me, is that the fantasists, believe every word the other fantasists post.
Nal
DBW’s last investment didn’t turnout too good either…..perhaps there is a pattern forming.
He allegedly had good info on that share as well…..
Hmmmm…..
Has red ramper been suspended?