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ToS1963
What on earth on you on about? SOLG are currently negotiating the next phase with Ecuador government as per last RNS. It's standard stuff. The clock STARTS ticking once that exploitation stage kicks in. Hence it's in Ecuador's interest to get it signed pronto and in SOLG's interest too as they means potential buyers will not sit on their hands.
Some utter nonsense being posted on these boards these days.
Either deliberate or just uninformed or misunderstood?
To explain my last couple of posts.... Ecuador mining law licenses allows for a set period of time to explore, after which you are allowed a set period of time to conduct feasibility studies, and after which you are allowed to apply for an extraction license. Without going into the legal nitty gritty, a follows b follows c, and clauses in each license guarantees your rights to the subsequent step. Therefore, all being well, and having held the exploration license, we were guaranteed the feasibility license. And, if we met the stipulated criteria for the feasibility license, we are more or less guaranteed the extraction license. But as I said, each stage has its own time constraints, and in terms of the feasibility stage, we are almost in breach of it.
That’s my concern. Not only have we yet to deliver a DFS under the terms of the feasibility license, there’s no guarantees we will succeed in gaining an extraction license. That’s the RNS I’m wait for.
This evening.
https://www.bnamericas.com/en/news/ecuador-expects-us3bn-construction-of-2-mines-to-kick-off-next-year
Evening all...from 3rd February
https://www.bnamericas.com/en/news/ecuador-expects-us3bn-construction-of-2-mines-to-kick-off-next-year
Pinot
:0)
The last sentence should read extraction not exploration.
Of course the government can’t just come in and take away the rights. Read the terms of the exploration license. If you are invested here, surely you’ve done that. However.... the exploration licenses, as per Ecuadorean mining law, are time limited. I’ve explained that more than once on here. Given how stupidly long it has take Solgold to get from exploration, to economic feasibility, to extraction, we are now in the sad position of running of of time. So I’m sorry to keep banging the same drum, but it seems there’s plenty of folk here not listening.... yes, you are now, as far as Solgold is concerned, correct. If the government doesn’t grant us that exploration license, this year, it’s game over. We’ve used up all our credit.
Oh dear , so it could end up we have nothing but a piece of paper. Maybe that's what the majors are waiting for , to bid on the extraction license.
Surely SOLG have a claim to the area , otherwise any government would say yes go exploring and we'll take it when you found it.
Can't see that personally.
Awaiting the expert opinion of course, I could be barking up the wrong tree , or barking mad.
That is extremely useful and important information.
And for what it’s worth, and I’ve said in many times on here..... the Tier 1 discovery isn’t ours. All we have is the license to find it. Unless we get the license to extract it...... it’s not our asset.
They are, by their own admission, in the throes of trying to extend/exchange an exploration license to an extraction license. There are no guarantees that the Ecuadorean government will be forthcoming. That’s the biggest hurdle we face. Forget all this buy out and takeover ****. Unless we get that extraction license, we are worth nothing.
Slightly different quotes from the CEO (the reporter may be paraphrasing) :
https://www.google.com/amp/s/www.bollyinside.com/news/business-news/by-start-of-march-solgold-anticipates-cornerstone-merger-to-be-completed/%3famp=1
The CEO comes across as very frustrated and a little bit panicked in today's RNS.
Perhaps the Ecuador government have stuck a rocket up them and told'em to get on with it, or else.
Mather has been very quite lately, I would love to hear what he has to say.
Not an expert but sounds like they are in trouble to me, if nothing changes can we expect a further fall well into single figures ? !!
Thinking this is a really good Top Up price, now,
ill be back on Monday after ive had a good think about it,
Probably could get my average down to 16-17p if i load up
GLA LTH
full speed ahead? it was announced it was underway back in October. We are closing in on March.... that will be 6 months and not a fecking peep about how its progressing, or any timescale when it should be concluded....
Our management are a total shetshow... probably sat around, feet up, smoking cigars, laughing at shareholders gullibility..
Where did you hear that? that sounds utterly bizarre!
I heard that the Solg board all applied for the clowns job at McDonald's but we're turned down as they were found to be not remotely funny and incapable of juggling more than one thing at a time - their next job application will be parcel delivery on the Solomon Islands
DM, that's an interesting point.
Do you know if there are any minimum performance ratios in the loan agreement? For example, if the market cap falls below a certain level, would we have to supplement the balance sheet with another equity raise? Or would we be forced to repay some of the loan?
Fort, agreed. Nothing has changed, none of the institutions or trade investors are selling (or so it seems), we now know when the merger will be completed and we know it's full speed ahead on the SR. We've also seen the mother of all kitchen sink jobs by a new management team who have now put their necks on the line and should they fail they'll be looking for a new job in pretty quick order with their reputations in tatters.
I confess I simply have no idea why anyone would be selling at a loss at the moment when so much is in the pipeline. Still , nowt so queer as folk.
SOLG should just get in touch with Franco and bank another $400m for 10% royalty. Stick two fingers up to market and add 10p to share price!
I am kidding.
I wonder how much this debacle has cost him ?
He won't be strutting around like a prize ****erel now I suspect,
more likely sulking like a limp man appendage.
Think I'll wait until sub 12p to bring my average down this is on a downward trajectory for now. But pleased I staggered my buys. Hope you did the same shark.
Have a good weekend all.
Weird thing is - market and everyone else in general were aware the merger was due to close at end of Jan and sp was nearer 17p. Now deal set to close near end of Feb or early March and suddenly it's 13p a share??
Bonkers. I think those ARB boys are going for the throat as market has already signalled (along with the chinese) that 16p merger price relatively priced in.
Yet here we are at 13p???
Volume not massive by any means so just looks like the markets squeezing the little guys out as it always seems to do.
going well, isn't it?
Who remembers the Mather quote, "the share price is dangerously low"? I wonder what he thinks of the current price?