Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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As I've been drawn in. I will repeat my question to you padmaster. Who is the idiot.
You who has shown for 10 years your undying devotion to mather. No matter that by his mismanagement, your fortune is evaporating. And also daily, hysterically claiming it's the fault of infesters and imposters.
Or the likes of me, who take a pragmatic view of the FACTS. Share price down two thirds, company run disastrously by an autocrat, who would pick a fight in a phone box. ABSOLUTELY NO EVIDENCE a take over is on the horizon. Cascabel in mothballs, with no plan of action.
FACTS padmaster, FACTS.
No amount of hysteria or dittys will change the FACTS
Never argue with an idiot. They will only bring you down to their level and beat you with experience.
Morning grimbergem. I feel I must respond to your post, re idiots.
who do you define as idiots.
is it he who posted that no news from solg was excellent news, as it meant a sale was imminent.
was it he who posts ditty declaring his devotion to Mather.
was it he who posts that dissenters are on the payroll of lse
was it they who declared the sp would be £4 by xmas years ago.
was he who claims dissenters are blackrock stooges.
was it he who just questioned Irwin's knowledge by telling us what he missed on his twitter account .
was it him who posts his support for Putin on a share discussion board
was it him who tells us hourly about sp movement and the price of copper.
was it him who told us he is right and all else are wrong, so there.
was it him who told us Ecuadorian unrest, meant nothing to solg
was it him who daily tells us good news is coming tomorrow
was it him who calls all who question, imposters, infesters.
the list is endless.
or are the idiots those who question the companies direction.
No price would have been agreed because it would have to be RNSed...
We may need to be patient here until Maxit delivers...or the copper price takes off...
What Irwin is missing is that the Chinese would have done a substantial amount of DD before the 6% stake buy...if not earlier when Valuestone bought their stake (Valuestone is 'owned' by Jiangxi)...
From BigDude this afternoon...
'I think the Chinese are the most likely buyers. They will take time to complete their due diligence for sure as it is a big project. The issue is things are getting tougher for the Chinese to buy large world class assets, so they know they need to move faster than normal.'
'take time to complete' .... interesting choice of words. To me this indicates WI thinks the Chinese are already doing DD ( well, we already guessed that much anyway ). A price must have been agreed for them to be this far and letting them inspect the cores, drill logs and everything else that goes with the DD process. Would love to know what it is! Another day closer. C
Otc, anyone with deep pockets is more than welcome to come along and try to do a better job.
I don’t think everyone failed to grasp how badly Solg have been mis managed, it’s just that anyone that pointed it out, was called an infestor or a blackrock stooge..
Anyone who is capable of looking impartially at our boards performance over the last 3-4 years… and indeed the new boards performance, of just shutting everything down while continuing to collect salaries can see it’s been a woefull performance all round..
Spot onItalian but it’ll come
I think that we failed to grasp the extent of how badly SOLG was being managed, with too much money wasted on too many priorities, too little progress and too many burned bridges. The CGP overhaul will probably produce a leaner and meaner SOLG, in better shape when the buyers show up or if there are no buyers and we have to develop ourselves (hopefully not).
But A) it will take time, and B) in the meantime it will look like nothing significant is happening because house cleaning is not RNS material.
So perhaps, as we are still in some orphan stage and are unfortunately still not ready and presentable as a proper selling proposition , it's for the best that we need to wait, at least for those who hope that when we get sold, we get sold for a congruous price.
It does not mean that we are happy to wait longer after all that has gone through, but for all practical purposes we are likely to be in a better shape this year than we thought we were in the last 2-3 years.
Just a personal opinion, GLA.
Cheers Shippy!!
I listened to Rick Rule this morning quickly, did he not also intimate that one of the factors was someone who knew what they were doing getting their hands on the project to finance it? Another point that struck a chord was he also said 'whoever' develops it. So I think those are caveats that he implies would speed the process if up someone else appears to take over/finance it.
I see : Druckenmiller Bullish on Copper.
" Copper is in the tightest position compared with any environment (I've) ever studied"
"Coming out of a hard-landing scenario, copper will be a huge beneficiary of the EV boom"
I read this on Tweets and Hedgehog trader seems involved in that discussion....
Can only be good for us - but in the longer term, sorry!
add this feels like a reset to me
as i said before they are rebuilding the website but god knows how long that could take as we’ll have to incorporate all the cgp stuff too?
there’s been a lot of damage done over the past couple of years by the likes of darryl and the suboptimal pfs that only allowed for a fraction of the resource alongside the ****ed up cash box raise.
maxit etc will be flat out trying to sort a deal out for cascabel (sale) and potentially some of our other licenses. though i can’t see a jv happening at cascabel it may be attractive elsewhere in the right circumstances, though not my preferred option.
these things take time and although we are getting next to nothing in the way news i guess that’s better than getting a stream of broken promises and missed targets.
pretty much switched off now til news ….. i guess the quarterlies report is probably next …. atb
Check your email Grim
Ignore the idiots Shippy. They are out in force at the moment
Shipwright, stop being silly.
SM, again I agree. If I were buying I'd want to have as much watertight protection in place as possible.
"We are not mine builders"...we should not forget this comment, even if some of us have known it for years.
DM, was just about to ask whether or not we were aware of how much has been spent on Cascabel to date, as when the initial IPA was signed in Nov '21, we committed to $430m of spend from 2013 to 2023, and claimed that by end '21 we would have spent $238m. From the latest MD&A, we can see that we spent $17.2m in H2 2022. I can't seem to work out or find the spend in H1 2021 as we change the way we report (some times 9 months, sometime quarter ending X date). If we assume we spent similar (which is a little crass). That brings us up to a total of $270m or thereabouts, leaving $160m committed to spend this year, which we don't appear to have any intention to do.
Are these figures sound to you or have I missed something?
I imagine that this in part is what is forming the basis of the renegotiation, along with the "other benefits" that weren't previously available when we originally signed in Nov '21.
The issue any prospective buyer might have is whether a revised IPA will hold weight under a potential change of leadership.
Addicknt, I think the investment protection agreement we are renegotiating with the current gov't is a bigger piece to the puzzle than many think. Much more so than the China/Ecuador FTA. From the latest MD&A:
"An application to begin negotiations on the exploitation agreement for the Cascabel project was submitted to the Ministry of Energy and Mines (“MINEM”) on 31 August 2022 and was deemed admissible on 14 October 2022. Initial discussions regarding the Exploitation Agreement began in December 2022, and that the formal negotiation process began in January 2023. The Company has until December 2023 to complete the negotiation process with the establishment of a non-binding term sheet, and the submittal of a request to move into the exploitation phase.
In December 2022, the Company submitted an application to amend the previously subscribed Investment Protection
Agreement in order to align it with the exploitation agreement under negotiation and to obtain additional benefits provided by the government which were not available when the agreement was signed in 2021."
Perhaps RR has a point as this is key to protecting capital investment for whoever ends up building Cascabel, and we have until Dec '23 to complete it.
Sorry, do you have access to my phone?
Shipwright, the hilarious thing is, youve just perfectly summed this board up.
"im right your wrong "
you dont even realise youve proved Italians point.: " the ignorant ones are adamant their right"
you silly man. you no nothing of bbg, but your ignorance makes you so sure
SM, a bit of a shock that Nick Rule suggests that 4 to 5 Billion Dollars will be required to build a mine at Cascabel! That much financing, ouch!!!!
Lundin Gold, he says was much easier (smaller amount ) and the return was excellent on that mine's development.
SM, agreed, if the intention is to sell the financing is largely irrelevant. The politics is not. I'm unclear as to the extent our understanding/agreement with the government provides a level of comfort which a third party would be happy with. Any clues?
I'm right you're wrong.
In this case it's that simple
Shipwright, bbg, was called out years ago. he said he did 6 months in Australia and 6 months in the uk. it was pointed out to him that no visa has ever existed to allow this. it was also pointed out that he only posts uk day time, when does he sleep.,
so I suggest you save your protestations for someone who deserves it. not an abusive fantasist.