The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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Useless!
That was it just being 'walked up' by all those 'A' trades, huh Red? What you saying? Or are A trades only evidence of the boogyman man when they fall below the day's open? I forget what the city oracle tells us sometimes...
Well that didn’t last too long 🤷♂️
What’s seemed like an eternity of drip drip dripping lower for what feels like weeks we finally have some blue 🙏
ONWARDS AND UPWARDS!!!
I see- I jumped on a connection you weren't making there, sorry.
Yes, political situation is a killer. Will be a skilled leader who can balance the views of a group ready to riot for their rights against the needs of an economy with few other big-ticket options beyond mining. FTA with China would suggest agriculture rather than mining, but this will also meet opposition when land use conversion is required. Obviously I'd prefer the FTA covered copper concentrate rather than tinned fruit, but perhaps the omission of most articles relating to mining confirms what a hot potato this is in Ecuador. Wish we had some options in Oz or similar!!
I wasn't linking local to national politics the way you suggested. My reference to local politics is more about local support for getting the mine built means they won't be protesting, blockading roads or attacking mine personnel when the time comes. I don't know when anything will happen, the geopolitical situation in Ecuador is a real bummer indeed.
Thanks 2Luke, I'm glad you believe all that. I don't think local attitudes to mining will impact federal-level license decisions in the next year. We may not have indigenous people claims on cascabel, but with an election coming up it would be a brave candidate who actively provoked more of the riots we've seen. I think we'll see no movement in the mining sector until parliament returns to normal.
Not surprised to learn that fort doesn't understand inflation. Inflation figures can drop, but prices will still be 5-10% (his estimate) higher, and even if inflation drops to 2%, that's an extra 2% on costs that are already 10% higher. That's the nature of measuring inflation on a year-to-year basis. The damage of inflated costs to our CapEx is already done. Unless copper leaps up by the same margin, those costs reduce IRR. Does he think lower levels of inflation mean costs drop?! He's either thick or disingenuous - make up your own minds.
The numbers did add up as per the last PFS so not sure what Irwin means here. The PFS was based on that 22% (don't quote me on it) of the total resource! If that isn't a smaller sized development then what is? 10% of resource lol!
The IRR does need to be above 20% even on the lower risk metric. So perhaps he's alluding to this. The problem Maxit and Citi have right now is the shift in inflation numbers from the last PFS. Effectively 5 to 10% higher. I suspect any buyer or JV partner will want a more up-to-date view as that's suits their bargaining right now. Hence, it makes sense for SOLG to bide their time while waiting for inflation numbers to drop back. They can downscale some parts of the mine plan and factor in Tandy aspects but only with a decent inflation backdrop. I believe the main reason for shelving the PFS2 and Porvenir MRE update was solely down to poor metrics based on inflation which was at globally at its highest around Nov/Dec 22. Basically all the hard work on Tandy and some other surrounding areas on Alpala became 'neutral' rather than 'accretive' as hoped. As inflation drops the benefits of Tandy will come forward. Anyway... what's the rush?? Does it matter if it gets sold next month or in Dec this year? Not really, but it might enhance the price more to wait for the right time. That time might have been Jan / Feb this year when viewed from a stance in Sept 22. But things change, and you have to adapt to changing market metrics. Bob's fast and smart phrase also means that 'fast' might enable you to realise that the 'smart' play is to bide your time more. SOLG have cash through to end of the year and another 100m shares to place if when required which if I was a cynic... I would say are another nice nest feathering opportunity for Maxit et all if or when they know a deal is close. Just gift another 100m shares to their buddies at 17p lol! and then flog the business for 51p. Easy money.
"First up for Caldwell is an internal study to assess the options, which Caldwell should have ready to present to the Board in three months time. If accepted, engineering work would follow before the company speaks publicly about it.....
A key task is to continue advancing discussions with the government about obtaining an investment protection agreement and amending the company's current investment protection agreement to reflect development and exploitation. "We are in discussions on both of those, and we would like to get those successfully negptiated by the end of the year" said Caldwell."
So much for "fast and smart..."
I am obviously not Fort but I believe Cascabel has enough in the tank with regards local support, sufficiently advanced to induce strong and consistent government support (not quite the same as Oyu Tolgoi's fiscal importance to Mongolia, but enough for (almost) any Ecuadorian government to want to see it get done), not being exposed to Indigenous or historical claims. All other tenements best considered worthless.
BBG, who are the derampers working for MMs, and who are the holders with a less positive view of the current state of affairs? It would be good to get your definitive list. I see one or two clearly out for their own ends, but also a lot of LTHs who hate how much they've lost at the hands of new management in the last few months.
Don't listen to the muppets...
Tesla1. Join a long ever increasing list of those bullied by fdyjn. Over the years, it's been his only contribution. If you look at his history, he thinks of himself as some sort enforcer. Complete clueless norbet
Fortissimo. We have complete fantasists on here.
They are just sad people who crave attention. Be it posting they have moved to Ireland, or they live in Australia or whatever. They are to be felt sorry for.
But you. There's something of the night about you. A complete fantasist living in fairyland, who thinks he is so important that his views are the only ones that matter. Your arrogance has no boundaries. Your inability to accept things could of been run better and also your complete disdain for all others, borders on the sinister.
Well if the cap fits! You have no legitimate reason to post on this board other than to disrupt and de-ramp a company which in your own words you are not or never will be invested in. Troll plain and simple fact!
I think Caldwell’s comments were more to indicate that we’re more likely to sell this when we make the numbers add up
Minimum spend for maximum return
Irwin
“I think the previous management team were planning the biggest production possible. When you do this it reduces the number of possible buyers due to the scale and reduces the return on capital. I think a new smarter plan could really unlock the riches at Cascabel.”
The thing is FTJNY I can take the emotion out of any opinion I have and that’s all it is, an opinion, which happens to have been accurate for many years on this stock.
It is amazing that holders of this stock, who are frustrated at the incompetence of the BOD, like to call posters with negative views troll, de-rampers etc
The clue is in the share price ……
However what isn’t beyond doubt there are several rampers red knight etc who post positive, and negative opinions, whilst trading the stock. Hypocrisy springs to mind…..
Not sure when LSE Set up this site they only wanted holders to comment, perhaps they should put that in the t&c’s before signing up if that would make you happier……
Fort, can you point to any exploration licenses that have recently been converted to exploitation? If so I really think that would shatter the argument that is being made here.
Or perhaps you could explain how a nationwide, federal impass in the mining sector will exclude certain regions? That would also help.
"Seems like there is no rush to be pushing mining licenses through at the moment.. unfortunately"
Yes, very true, 'new' mining licences looking rare as hen teeth. Which kinda makes those with licences in areas that are not disputed rather valuable don't you think?? Anyone know of a company with lots of these rare licences in Ecuador? Even Fortescue, Anglo American and Rio Tinto seem to be struggling to find licence blocks that are undisputed.
Bodes well for SOLG.
But let's not dwell on the positives... let's stick with the negatives as far better for BB discussion and our investments. Sic.
Shame on you Colonel...have you descended to the gutter as well as the rest of the tripe flooding this Board...?
"citing two numpties from a BB..."
Again on the licenses topic, though maybe not specifically exploitation licenses, I posted a different article that stated the following…
"The situation is very serious. If that request is granted, the entire industry will stop due to the lack of environmental licenses, not just the mining industry," Benalcázar said.
According to the mining chamber, at least 100 environmental licenses are on hold across all sectors.
Pressure groups are planning countrywide actions on June 5 to demand authorities declare their territories free of mining.
Seems like there is no rush to be pushing mining licenses through at the moment.. unfortunately
Thank you Ortherncopper.
If it is three months, that doesn't give them much time to achieve the exploitation license.
But as usual I suspect they will leave it till the last minute.
Morning Quady.
I’ve contacted a few times but received no reply to any emails.
I posted an article yesterday morning, an interview with Cauldwell, which indicated it would be released in around 3 months.
This is unlikely.
But if anyone still has contact with the company.
Could they ask for a date by which time the strategic review will be released.