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Like everybody here I am frustrated by the prolonged silence and the slow SP decline but it's clear that we hold extremely important assets and that the Lasso government is very keen to see them contribute to the national economy.
This article was published last week, apologies if someone had posted it already..
https://www.bnamericas.com/en/news/ecuador-expects-us3bn-construction-of-2-mines-to-kick-off-next-year
"Ecuador expects pre-construction works to begin at the Cascabel and Curipamba mining projects by the end of the year, and construction to kick off in 2024, energy and mines minister Fernando Santos told BNamericas.
“There's very encouraging news. We're negotiating the move to the production stage of both Cascabel and Curipamba, which will begin construction of their mines next year," Santos said."
That's the minister of energy and mining talking. They can't afford to see this project to fail.
DG1 This the most ticked up post I have ever seen.
Kind of sums it all up realy
Hmm...I understand your frustration killjoy and apart from BHP's bid for SOLG/Cascabel back in the day, when they settled for an equity stake, we may never know how many havemade informal approaches.
What we do know is that Mitsui told the Vice President for mInes that they wanted a stake in Cascabel.
We also know that Jiangxi, a massive copper mining company owned by the Chinese State, bought a 6% stake only a couple of months ago. There is no way they would buy that on a whim as a speculative investment.
And we know not only that, post merger BHP and NCM will still have over 10% in a bigger SOLG that includes 100% of ENSS, but also when SOLG has taken streaming deals or share issues that weren't 'Rights' issues, they have complained publicly and nCM withdrew their Director, against his personal wishes.
So...in a world where the copper supply/demand balance is fgoing to get much tighter, would these companies have bought and/or retained a significant stake in SOLG with one of the biggest Tier 1 copper/gold prospects in the world and possibly others waiting to be exploited/discovered...
And yes it does look like prospective buyers are sat on the sidelines waiting to see what happens, because while Peru burns and Chile has created an unfavourable economic environment for miners, Ecuador looks stable and seems to be the next Chile.
And there are 20 or more 'players' that already have a footprint in Ecuador.
In fact you could make a credible case for BHP, NCM, Newmont, Fortescue, Lundin, Jiangxi, Mitsui, Ecuacorrientes and Explorcobre (both Chinese owned), Mitsubishi, Codelco, as well as Luminex, Solaris, Lumina, Dundee and a whole host of others...
Which is why I'm convinced that unless its a 'knockout bid' (110p or more?) the first bid will trigger a takeover battle.
Then the only decision you will have to make is when and how much to sell...
It looks like, don't call us, we 'll call you ! You got our votes - no more lip service please! Its year of hope, nonetheless!!!
GLA
I've sent Fawzi three emails in the last two days...not even the courtesy of an acknowledgement...
killjoy, I think you're living up to your moniker!
As its stands, we have no way of knowing whether what you say is true. The delivery of the SR should reveal the truth.
Oh dear, the end of days.
We seem to own something that no one wants. No one can disagree that whilst we have a vast and valuable rescource it is just too expensive to get out of the ground.
There is no incentive for any prospective buyer to put in the first bid, they are all happy to sit on the sidelines, watch the share price slide and will only react if any one else bids. There is no upside in being the first bidder.
Glad it's incoming, Fort. Where do you get this insight from? Very helpful if true. Have you got an inside person tipping you the wink?
orthern, what would qualify as bad news in your book?
For me it would be a jv accompanied by either a minor distribution, or none at all; a tinkering with the corporate structure i.e spinning off bits with no immediate upside; a sale of Cascabel at a bargain basement valuation; or some insipid statement about exploring all options. The very worse outcome would be some tosh about seeking funding to develop the mine.
But will it be Bad news? …. Or good news?
News next week from what I gather. So if true then only a few days over their end of Jan prediction.
Monte, bear in mind the CGP holders will have their options rolled-over into our company.
I was just reading back over some old RNS releases.
The things they award themselves for with options is laughable. Basically if they do the bare minimum of what they are payed to do, they get options awarded.
Nice work if you cam get it.
Why would you be in a rush? They might have to get e real job afterwards.
DG1, although I think some of the issues you mention have been addressed by the new management, I share your frustration.
Rightly or wrongly, I believe we will see something emerge which is completely transformational. I find it difficult to believe that our new masters have engineered the new regime with the intention of maintaining the status quo, particularly given everything that's gone before. There have been many clues and statements of intent and failure to deliver would lead to mass dissatisfaction on a grand scale. They've very noisily put their necks on the line and it's time for them to prove themselves.
Why do we show an ask of 26p +/- each day before trading starts. Any ideas folks.
Gazbag, that's the way I prefer it! I won't be influenced by the boiler room boys!
Come on DG1Investor, stop sitting on the fence & tell us how you really feel! ;)
Well said DG1! What the hell do these executives do all day? I see no progress on any fronts. Such a sad story
Perseus yes local elections
If anyone of the investors here has any ears into SOLG towers please pass on the message that the time for them to communicate is ‘Now’
No more hiding away
No more delays
No more excuses
No more nonsense
No more blaming someone else
No more - blind Freddie’s, paddling one’s own canoe, French translations, - basically cut out the bull
No more missed deadlines
No more excuses
No more pointless presentations
No more gravy train
No more over inflated salaries for delivering zero value
We have gone nowhere in terms of SP progression for yrs and yrs and yrs and yrs
SOLG mgt should hang their head in absolute and complete and utter shame
They have failed - even if they sell it tomorrow (they won’t) but they will have failed
They will all point at each other, all blame each other or those that have escaped and left the company - but they should look at themselves
Even the steadfast SOLG supporters of which their were many are beginning to turn en-masse
PI’s have been treated poorly and I’m certainly not a million miles away from being the only one who thinks this
So tell Fawzi, Mather,Caldwell and anyone else who hides away in the shadows at SOLG that you as investors may have the ear of that their performance is shocking - their comms is the complete pits and the quicker this misery is ended for investors the better
Just my opinion of course
But the swell of discontent is building by the day
It’s time they listened
the "boiler room" boy's are working in tandem again this evening! Let's not let them mess with our heads!
Ignore them, don't engage!
Derry,thanks for letting us know wondered what results where
The company now need to communicate something to shareholders, even if its just to say the SR is progressing to schedule.
Very poor.
Afternoon all. Just for info. Lasso did terribly in recent local provincial elections. A bit concerning.
GLA
DK
Is now the time to start getting concerned? SP heading who knows where , there is no support other that the 10p we know of due to coronavirus. RK has doesn't seem to be buying , nor his wife . And nobody is guessing at a takeover price, if we ever see a takeover that is.
At the moment even a 100% lift from here leaves many with pie in the sky past valuations.
If this doesn't sell , the sp will not look pretty by August , not that it looks pretty right now.
Roll on tomorrows excitement.