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There are.no new results addict, just the rock channels that are inc to give a taste for whY they hope is underneath.
Stop looking for conspiracies.
Porvenir drilling, only started, no news there. Really unsure how market is going to react, when it opens. Part of me says, this improves our drill results, and surely, this cannot be priced in, as nobody had a clue, so share price responds positively. Another part says, credibility has been hit, this causes uncertainty, and price responds in a negative fashion. Not long to wait.
Copperpot - in my view last night's news is just one of those pieces that is more difficult to put in laymans terms and it relates to objections raised concerning technicsl documents.
If i were to try and simplify it i would do so by saying that SOLG have taken data and other metrics from the PEA and applied them within MRE3 with the intention of running the two documents concurrently. OSC are basicslly saying that MRE3 should have superseded PEA with updated data where required.
I wouldn't give any CGP any credit both companies have quoted the PEA alongside MRE3.
If anything it would be one of the many investment banks RBC, CITI, whoever BHP have that have raised it, maybe even Franco as part of the DD.
I view it as very very positive. As the PFS might well know be released alongside the updated MRE3 by the end of sept.
iceberg, if you say so. Are you saying they started drilling yesterday, got the results and issued an RNS immediately? Or am I misunderstanding you?
Porvenir will win, meaning a blue blue day.
BS sorry, the drill is ultra fresh hence why they have only done a few metres they only started yesterday!!!
The MR E news will be mandated by OSC,i.e LED tell them to do it and they do it not a week later....
My guess is somewhere between 25 -27p
I wouldn't give CGP any credit with that whatsoever Schlemiel.
Their bosrd hsve never progressed a project to recognised study level so i doubt they have the expertise either.
I think it's more likely that the OSC review all studies that get released by TSX listed companies. That's why it has taken a few months to come to light - because there's likely some sort of backlog.
Good to see we're drilling Porvenir.
Quady, yes, yet more scope for the conspiracy theories we all love so much!
Just to add to the pot, as if by magic, an RNS appears this morning. I bet they've been sitting on it for a while, so why issue it now? Distraction?
Sometimes CEOs can try too hard to be clever.
I have to admit, for someone that is looking after 'all' shareholders, NM does have the tendancy to treat us like mushrooms! Also as folk have already stated "the RNS's could be simplified a wee bit for the folk like me to understand! Come on Nick, some of us here have been holding large amounts of shares for 8-9-10 years, don't keep taking the Tizer!
How will the market react I wonder
I think it's as Matter said, in order to progress Solgold, we need to get reporting right, but still surprised, by last night's announcement.
Agreed addicknt, I had some thoughts, but even my own thoughts, sound like a conspiracy theory, so will keep quiet on this subject, and await clarification, in the coming days or weeks.
I've been in and out of SOLG more times than I can remember and Mather's never played a straight bat following the discovery of Alpala-Cascabel and BHP's and NCM's appearance on the register. The expiration of the Standstill in mid-Oct has changed all of that and has focused the minds of all concerned. CGP is forcing Mather to clean up his act on corporate affairs because both parties there's so much at stake in terms of dollar rewards
Quady, I think that's where I was getting to. But why would we not use the most accurate information, particularly as it would appear to be better? A complete mystery. Did CGP have a hand in this? And to what end?
I confess, I hate it when companies issue such opaque information.
And yes, I think we can anticipate a delay to the PFS. Quelle surprise!
Quady yes, I read it to mean everything has been delayed again, albeit slightly. I take some comfort in the fact that because of their track record, and Covid, such delays are already being reflected in the SP due to lack of market confidence in what Solgold say they can and will do, and by when.
Whilst I welcome further news, particularly drilling results which are way overdue, even bearing Covid in mind, I do wish NM would stop reusing the same stock phrases and sound bites time and again. It smacks of corporate policy rather than sounding natural. “First mover advantage” indeed. He’s clearly never read Aesop’s The Tortoise and The Hare.
With you addicknt, spent some time reading and rereading. To me it looks like, when Solgold said that their will be no MRE4, that MRE3 was the cut off to get the PEA out. However, we were still drilling or had more data to include, but didn't. I am surprised. Also, guessing that we don't get PFS on time, unsure if this means we get it in December, but looks like new data to be used in PFS, because of correction. Also how does this affect DFS scheduled for end of June next year. Dare say next webinar, people will have some questions.
It's taken awhile but a massive 8000m drill program, more than enough to prove another cascabel.
Drilling Commences at Porvenir Project Testing
Outcropping Surface Porphyry Copper-Gold Mineralisation
The Board of SolGold (LSE & TSX: SOLG) is pleased to provide an update on its 100% owned Porvenir Project, held by Green Rock Resources S.A, a 100% owned subsidiary of SolGold.
-- All scout drilling regulatory approvals have been received for the 100% SolGold owned Porvenir Project in Ecuador's Southern Copper-Gold Province.
-- Drilling commences at Porvenir Project with initial drill hole testing outcropping surface mineralisation that returned an open ended rock-saw channel result of:
o 147.8m @ 0.69% CuEq (0.43 g/t Au, 0.37% Cu) including,
o 82.63m @ 1.08% CuEq (0.71 g/t Au, 0.55% Cu) located in Cacharposa Creek.
-- Drilling operations underway with initial drill hole (PDH-20-001) at current depth of 16.7m, utilising one man-portable machine, as part of a planned 8000m initial drilling program.
-- Mineralisation at Cacharposa Creek is part of a 1000m-wide, 1700m long northeast trending corridor containing mineralisation styles, size and geometry consistent with surface exposure of a vertically extensive, well-preserved porphyry copper-gold system.
-- Surface mineralisation displays similar characteristics to the giant Alpala Porphyry Copper-Gold Deposit at Cascabel in Northern Ecuador with classical magnetic signature, coincident soil Copper-Gold-Molybdenum geochemistry, and a Gold:Copper ratio of approximately 1:1.
Commenting on the commencement of drilling at La Hueca, Regional Exploration Manager Chris Connell said: "We are very excited to see commencement of drilling at Target 15 in Porvenir because the hole 1 target is of very high quality. The coincident geophysical and geochemical anomalies over an extensive surface outcrop that returned an open ended ore grade intercept of over 140m at about 0.7% CuEq, is an extraordinary target that we believe potentially represents a large exposed porphyry copper-gold deposit and a second major porphyry discovery for the Company within Ecuador. The 13 high-priority regional targets covered by 75 granted tenements represent a significant pipeline of wholly owned quality assets. We look forward to updating the market with visual mineralisation estimates and core photos as drilling progresses at Porvenir."
Commenting on today's new release, CEO Nick Mather said: "SolGold seized first mover advantage in copper gold porphyry exploration in Ecuador in 2014 and is now the dominant tenure holder, with the most active, well-funded, most qualified and best resourced exploration team in Ecuador. With a dominantly Ecuadorean workforce, endorsed by the Ecuadorean community at all levels of the social environmental and regulatory framework in Ecuador, SolGold is strongly placed to emerge as the resource mainstay of the Ecuadorean Copper gold mining industry in years to come, delivering extensive contributions to Ecuador's social and economic growth."
Miningpig is goldfingerer. Filtered.
Not being a geologist, nor being of a technical bent, I confess I really don't understand this announcement. Various posters have attempted explanations, but I'm not sure it's been nailed down.
Is it good or bad news? Why were the mistakes made? What is the impact? Why has it taken so long to emerge? Who alerted the authorities, or are we to believe they've spent all this time poring over our documents? (seems very unlikely to me)
I know mining companies have to issue technical detail, but I wish they'd also provide a translation into layman's terms so that us ordinary shareholders could actually understand what we are being told.
Of course, it could just be that I'm being really thick and everyone else knows exactly what's what.
CGP's actions have forced Mather to re-jig the board of the company and also CGP's lawyers probably spoke to the TSX to inform them of Mather's non-compliance with TSX regulations.
I wonder if now is the time Mather will release information that CGP claims provides him with an 'informational advantage' and that should see a more accurate flow of information to the market....that's a positive.
If the information was negative it would have already been released
BHP. Newcrest and Franco Nevada are now signed up to the SOLG bandwagon and I bet they know more than we do especially Franoco. They'll have been privy to info the market hasn't and Franco have also talked up about putting even a billion dollars and more of royalty funding. That's confidence. You don't dish out $1bn to a company for no reason at all
I think Mather's withholding valuable info and CGP is forcing him to reveal his hand by getting their lawyers to sift through all aspects of corporate governance to make sure Mather's complying
We are seeing corporate games at work