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Only if our block cave decline runs straight through it im guessing.
“ Unfortunately when things are underground you cant actually see what is or isnt there can you?”
That’s why you drill, and do MRE’s, before commencing a PFS.
BNC..... we diluted in June last year.
There are several targets in cascabel. Would we have to redo a PFS everytime we drill one?
I do wonder if the reason for the change in mine design is because they have found something else?
It sounds fishy to me.
Part of me wonders if they have just made a hash of it, and the new committee has come in and drawn a big red line through it. They then put a spin on it using the new drilling area as cover.
Jason ward saying the pfs was going to be ready in 2-3 weeks back in Oct keeps playing on my mind. I think lots on here are easily mislead
NM has NOT diluted - he's kept a very tight reign on the share capital of SOLG hence the franco deal............
I have not over looked any such thing - my extensive post is my view..........
did NM know until they'd drilled around Alpala they were going to encounter something that undermined the proposed Alpala mine?
No of course he didnt............
As in any business you change in line with developments.
Unfortunately when things are underground you cant actually see what is or isnt there can you?
Dont get me wrong - I am very annoyed at where we find ourselves - but I do hope this is recoverable
Mining stocks & in particular junior mining explorers are always v high risk & get clobbered when things arent all rosey........
I sincerely hope this is not another sirius
Monte..... “I'm still here because I need to make a sensible decision with my investment.” Probably a far more succinct and eloquent summary of my last post.
This post is not directed at anybody in particular, just a general feeling. I get really annoyed when I see this question. It is repeatedly thrown in the face of many on here, as soon as they question corporate strategy, or dare to put forward a negative view on anything. Only short term traders have the mindset of selling on the first negative view. Long term eras will have done, and continue to do, their research. And will be taking a long term view. As has been said, the minerals are still there. I invested in an explorer that discovered them, and I’m sure as hell not selling up on each and every hiccup along the way to receiving fair value. That, however, does not prevent me being able to be angry and dissatisfied with bad policy. Of which I think there’s been 2 in the last year, the 21.5p raise, and Fridays announcement. IMHO, the only positive step in the past year are the FN deal. Jury is out on a few others, NM moving on, Chinese involvement etc.
There has been talk of blockers since 2013. Has someone big been selling into the market since then to keep the SP capped? Long before BHP's involvement.
7 years on still no bid?
For years I've been very supportive of this company, I slowly changed my mind. I'm still here because I need to make a sensible decision with my investment. Hopefully we get back to the 40p region at some stage and I will trade out of my position. Good luck to you all but I wont be here for the long haul anymore.
Call the whole debacle by its proper name.
In my opinion this is a new direction and the content of the rns is from the new teams setup to replace Nick and previous team.
My only hope is the sp will stabilise and in apr/May I can get some more circa 20p.
Elections and funding news due.
BNC.... your extensive post to Monte has completely overlooked the fact that we have lost a year. Irregardless of whether or not we have suddenly seen a newer, better and cheaper way to do this, that’s a completely lost and expensive year. During which NM and others drew fairly hefty salaries, and diluted at 21.5p. All the time promising a PFS, shock and ore or whatever, I could go on.
Fair honest comment
Montecrusto to announce they are applying for new permits, would say Alpala was worthless in case they didn't get them.
That is why I think it took so long, and why it may have been done this way.
We have more to come.
Also ,I dont like all these references to subtle hints here and there in the RNS's
Why would they give hints and hidden meanings? When have they ever done that?
Nick has a tendency to give it large and talk things up.
Dont look for hidden meanings. There are none. They talk things up or they stay silent and play it down at a later stage.
A leopard does not change its spots.
DBW.... I, and I suspect most others, hold the same today as we did last week, and will continue to do so. However one of the many purposes of boards like these is to question corporate strategy, discuss feelings about pros and cons of decisions etc. Fridays RNS has led to a good deal of anger here, as it would appear we have wasted a year, and become more vulnerable. Whilst not a good thing, I for one am pretty ambivalent about the drop in SP, because I wasn’t planning to sell. However, it makes the next inevitable dilution likely to be at a much lower price than it should have been. Good luck with your additional shares, clearly I expect them to do well, or I would be selling. I’ve got enough in already, and am looking to exit as soon as possible.
for someone who's berated solg NM and the managment for years one wonders why you're still here
they have clearly found something of worth or potential worth to even consider the impact on the original mine as per the companies rns...........if it was not of worth they'd simply plough through it and continue..............
so lets not just either start twisting things the other way either -
this is this persons own view reading between the lnes and what the co states
Alpala block cave is going to be v expensive - well no sh-it when a resource drops down to almost 2km underground then of course its gonna be expensive..........
The original mine design is clearly going to cost.
Drilling around Cascabel and around Alpala has clearly brought other things into play which need to be understood fully
The committee has clearly seen the opportunity for further options and more cost effective ones that need to be understood in terms of the whole project - this is simply good business and necessary end of
It is bitterly disappointing seeing the share price nose dive like this..............in my mind the market has reacted to thee view that this news means there's a lot more risk as in essence the whole economics of the project is being reviewed........
I hope for all our sakes that NM hasnt been b/sh-itt-ing us - but I dont for one minute think he has - I just think a new set of eyes is doing the right thing by looking at all options / cost reductions / cheaper / quicker methods of extraction..........whereas Nick was likely focussed in on one strategy..............
You know this guy has in essence single handedly brought us to this stage - getting us to Ecuador, finding Cascabel Alpala and all the other 70odd tenements and secure millions of investment to do so.............
Lets hope eventually this is all worth while.............
That's your opinion Monte.
Mine is it would not take large holding to bring this sp down and yes when you are talking of saving 1-2 billion im guessing £10 million worth of shares could be very useful to the likes of bhp and ncm.
Not everything is rosy as you clearly point out as the news was a sledge hammer and solg could of played that much better.
That's not in solg's style. If they found near surface gold, they would shout it from the roof tops, then in the same RNS would announce they are applying for new permits.
That would be the obvious thing to do. You are the one who does not like conspiracy theories remember. You have just come up with the best one today.
All the best.
Of course they’ve made mistakes.... no one’s denying that .... hence the drop in share price .
You have to press the reset button and decide if this is still a good bet. I’ve chosen to top up , it could be wrong but it’s my choice .
I wonder how many ( I know not all ) of the people running down the company today still hold as many shares as they did a few days ago?
Endless times you’ve seen bad news released (more so on AIM) people run for the hills and then better news follows ..... stay invested or leave and make money elsewhere
Montecristo read my earlier post, the one you ridiculed, I answered your concerns you could not release a RNS at that stage for the reasons I outlined.
That's OK Tos1963, it is a civil engineering project, looks like it may become a cheaper civil engineering project.
We need to get real.
Let's stop pretending we are all so clever and the market and everyone else is always so silly.
The market is not against us, it is a weighting mechanism in the famous words of Mr Buffet. And it often weights us lightly.
If we have a tier 1, and we are attempting to build the infrastructure next to it, and a clever chap says stop, I think we are building on top of another mine here. The SP would go through the roof, not down 30% in 2 weeks.
No no, no the market is not rigged against us. All this talk of blockers has been around years. Do we really believe there has been a concerted effort to keep the solg SP down for years, just to make it cheaper for a bid that never comes?
If BHP executives ever read this board, they would be laughing their heads off.
Confirmation bias is rife here, and it's not helpful to any side of the argument.
This is not the end of the story, but all is not rosy.
Let's keep it real!
In all this though, please remember at the end of the day, the mine build is just a basic civil engineering project, which any half decent building firm from trusty builder dot com will be able to undertake. ;) sorry Quady, couldn’t resist.
Tbh, I've also had much more cynical views of the reasons for the announcement, but I think I'll keep those to myself.