London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
SM, 21%.
If what you say is true, the company are misleading investors and I do not believe they are.
Any ideas on rough numbers on Tandy? $300m spend ...mine life of around 6 to 7 years with 150 to 200koz equivalent?? That's much easier for SOLG to finance. Doesn't resolve the Tier 1 asset financing but may help reduce or attract a partner or counter bid scenario if or when announced. Generates decent profits in years 2 to 3.
Eish, I think we shot ourselves in the foot somewhat when we produced the revised PFS under Cuzzubbo's leadership, which took a much more cautious approach (I can't remember what % of the orebody it accounted for). The project economics were viable but not great. Solgold told us they were going to produce an amended PFS in H2 2022 and then a DFS in H2 2023. This was back in April 2022. The PFS addendum has been canned, and we are allegedly pushing ahead with the DFS - and to be fair to SOLG if they do produce that study this year, they will have stuck to a timeline.
I think the main reason the studies have been either canned or delayed, are because of the macroeconomic environment has deteriorated substantially since April '22. Inflation has meant costs have rocketed, and the economics of the project (particularly given how conservative we were) are now far less attractive.
Interesting another conglomerate being mentioned ,next week going to be fun imho ,o/t I've just bought into AYM ,as we move towards global demand for rare minerals this minnow has just taken a huge chunk of a company with massive upside in europe and the best to come next month on a mine in Anglesey ,12yrs copper,tin and gold to mine ,fair chance of government funding 150+ jobs to be created ,levelling up funds available maybe ,so fully loaded in here for sometime and a chunk in AYM whats not to like !!:):)
To put this into some context, we are doing a deal to acquire assets and yet our balance sheet position will worsen to the tune of $19m.
RK, you're an accountant, can you offer an explanation?
????????
;-)
I should add, that if the Chinese do get involved (deeply involved) then I fancy they might repeat what they have done in the south and go for a smaller start up mine like Tandy offer... open pit and cheap to extract, generate some profits and then make the block cave works and second phase of mine build out (or down) relatively easy to finance.
So Tandy kicks off in 2024/2025. Block cave deep shaft developments follow in 2025/26 and then mine plan build plans for greater exports kick off in 2027/28 as currently guided.
Tandy potentially holds the key to reducing the overall build costs albeit on a separate satellite project basis. Far better to get some income coming in while bigger pipeline/infrastructure plans and deals go on for the bigger Alpala mine.
Eish, that's the critical question and the company has done little to clarify the situation.
Do we need a DFS?
Why did the company say we have sufficient information? Sufficient for what? Capital raising, or the sale of the asset?
How can we raise cash in the money markets without a DFS/BFS? This seems highly improbable to me.
How much of our recently raised hypothecated cash for Cascabel will be spent on a DFS? All of it? Part of it? None of it? Have we downed tools on the study? If so, why? And why let the Minister get up on his hind legs and boldly announce construction will start in 2024 when we know that it's highly unlikely?
So many questions and absolutely no answers...just more speculation.
No red, I made my peace with you nothing to do with me.
GL
Geejuss Red! Hope you're right and that your observation and post IS correct! it would help, LOL!
Agree, Lasso and mining ministry are 'trying' their very best to attract business and get billion dollar projects off the ground. Lasso is under the cosh at the moment as inflation hurting (not his fault) and people growing angry with lack of business opportunities etc etc etc. Lasso will fall over backwards and lay out the red carpet (not red tape) for SOLG .... anything to get the headline of 'multi billion dollar mining deal agreed'. So anyone that thinks the Ecuador gov will be obstructive or play hardball is living in la la land.
Ecuador need to send a firm message to all potential miners / majors out there that they are OPEN for Business.
But what Lasso et al are not keen on is this lethargy or limbo position of having mines that cost billions in the hands of minnows when they should be in the handoff deep pocketed companies. So Lasso will want to push and press SOLG into agreeing some kind of deal with a finance partner or full sale. The sooner the better. So all in all...everyone seems aligned to the common interest imho and that's why we look in good shape to get this done in 2023.
"Or, do we have a possible buyer/bidder and this makes a DFS irrelevant? "
Thats the one Eish...and also why we've cleared the decks to such an extent that there was nobody clever to put the Propsectus together...
Thanks Mathers...
So you're saying he's MassiveRay...figures...
SharketMare or any other posters. If the DFS would add value to our asset or make the sale easier, why have we not completed this requirement? A completed DFS would make our asset more attractive, surely?
Is it that we don't have the funds or lack the will and/or manpower?
Or, do we have a possible buyer/bidder and this makes a DFS irrelevant?
Opinions please?
I haven't been posting here that much mathersfinger, don't see why you always bring me into arguments that have zero to do with me.
add, it'll be miraculous if we have produced a DFS by 2024, let alone started construction.
Why on earth is anyone replying to AAC/MR, same type of argumentative dribble that will go away when you learn to ignore, Red you are a childish t*t for even going along with this fool.
When are people going to learn, ignore rubbish and argumentative posts that have no merit, enjoy your day
Atb
Filtered mate! Like the other 50+ he reckons he has on filter. Plenty around here don't like to read the truth , it spoils the daily club of back slappers.
SM, me too, in fact my wife has just had to buy more salt. Frankly, 2024 strikes me as being total fantasy.
I've read every one of your 50 posts...they add nothing to the debate I'm afraid...I thought the Michael Li one did, but now you say it was satire.
For the sake of the Board I am now filtering you.
Goodbye...
amongst you will have no doubt spotted that following completion there will be a negative movement of the fair value of our combined financial assets of $92m. The result of this is that total non-current assets decline by $6m, despite the fact that CGP's NFA is 86m.
Can anyone explain this?
Can you see the similarities to what you just posted? Yes, mine took me 2 mins to come up with, but everything you've written there is irrelevant and, by association, rampy. Shouldn't have wasted your time copying links.
And when HH says something correct, we can talk about him again, otherwise he will just keep jumping up at Irwin, trying to get a response to validate his inaccurate ramblings. Remember all the immovable deadlines he talked about that we sailed through without news? There's your proof.
Please, Red, explain how these algo Boogeymen are taking our so down?! I'm waiting...
I wrote this to another poster on this BB privately a couple of weeks back, think it is relevant to the above article shared by DBW:
We have to remember that these guys are politicians and probably shouldn't be held in much higher regard than the ones on our own shores. They are thinking about the next 2 years and might not even be in position much after that. Not saying they are empty words, and acknowledge that mining is a core part of the (current!) gov't's economic plan for the country, but the scale of the mine and what is required to build it (particularly the upfront finance) means that ultimately the gov't are going to be working towards the timelines of whoever is paying for it.
In short - I take these statements with a large pinch of salt, unless the Ecuadorians plan on requisitioning Cascabel and paying for it themselves (ha!).
52 ALGO trades out of 59...the rest of us waiting for Monday...?
So this is satire...are you deluded...?
"Have it on reasonable authority that Michael Li (Maxit) met with Yu Tong from a little know Chinese copper investment company earlier this week in HK. No details except that it was a full/long day of face-to-face, decent team of advisors on Chinese side. Jiangxi use the same hotel business centre for meetings most times, it would seem (what's wrong with their offices?!) as does an acquaintance who has worked with Li in the past. He knows I have a (failing!) position here so let me know he'd seen him, and was kind enough to ask reception if it was Jiangxi (yes, it would seem) . I'm now all in here. Good news to follow. Very, very excited if they've got an offer for Cascabel out of them."
My dear fellow, you are the most intelligent, experienced, well mannered, thoughtful, kind and unassuming poster I have ever met on LSE...
Now THAT is satire...or is it irony...?
Oh and BTW I AM Spartacus... ;-)