Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
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Not2sure, I'm not sure it was a question of too many chiefs, but has had more to do with too many masters with very different ambitions.
I've said it a million times, but the moment we invited BHP onto the register we created a rod for our back. Could we have got this far without them? In my view, yes we could. Thank heavens we're now in the hands of people who understand this and have no intention of letting BHP dictate our future. Or rather, they can dictate the future, but it'll cost them and we won't be part of it.
apparently not
Thank you for your observations everyone.
I believe however once we raise the money the hurdles are not too difficult to overcome.
Let's see what the strategic review says.
Solg don’t have the financial firepower to withstand any issues, of which there will be many, to get to production.
Many business go under because they think they can do exactly what you are proposing.
This is a huge multi billion project in a third world country it would be difficult enough in Australia it is nigh on impossible for a company the size of Solg to achieve this in Ecuador.
You need huge amounts of liquidity and Solg will not have that for many years, if ever…….
Sell the main asset or...more likely...sell the lot!
CGP and Maxit are in this to make money...quick...(fast and smart...)
Also we have clearly demonstrated over the last few years we have lacked direction..probably too many chiefs and all that..I truly believe if we in some way announced we were trying to go to production we would be setting ourselves up for a spectacular fail and I do not believe with those now involved that is ever going to happen..sell the main asset and return to our roots as an explorer ..imo
Quady I belive we would have a massive balance of power problem trying to manage engineering firms much larger than us with much bigger budgets we would be at the mercy of cost overrunning and not have the fire power to defend our selfs
"ALL we have to do is raise the money"
Telsa if we take this to production we do what the big guys do.
We bring in a person to manage it. we bring in a structural engineering company to build it.
This is because best processes and practices are constantly updated.
All we have to do is raise the money.
This is how the big companies do it. They do not have people on their payrolls who build mines.
Addicknt
I totally agree with your comments, taking to production is way more risky than ANY other outcome.
I suspect it is what BHP would like..
No matter about all the bravado on here about the little guy sticking two fingers up to the big guys, the big guys are big for a reason …..they normally get what they want………
Morning Addicknt yes you are correct although some have drill holes and rock chip sampling .
Really they are looking for partners to bring about further exploration and possible PEA's .
Q, are those the properties we've been trying to flog for at least two years? As it stands, they're pretty much worthless and certainly won't deliver the sort of value Sangha and co a want. A total red herring, in my opinion.
Mog999 we have to remember that 20 tenements equating to 10 properties are up for sale or JV, so if Gina Rinehart wants an interest in any of the other tenements, she doesn't need to buy NCM's share of Solgold, she can just deal with Solgold direct.
Colonel, I think you are correct. This has been a rumour going around WA since last September. GGP/Wyloo/Twiggy have been preparing for this outcome.
Thats why I have never been a fan of Wyloo buying Solgold.
RK, it depends who owns the stake. Dont suppose NM will care what was paid for it. I cant imagine there would be another buyer purely for 'strategic investment' reasons, so it will more than likely go to someone who wants to be involved in Alpala for the long term, either as owner or JV partner.
IMO NC will either be taken over by a bigger major, or it will be broken up. It wont survive in current form. If the former I am not sure whether a small stake in Solgold and the Lundin stake will be relevant unless the buyer has bigger ambitions in Ecuador.
If Newmont succeed and seek offload various assets like 10% stake in SOLG, then selling to GinaH would be a further snub to their Aussie competitors. Could get interesting for GGP too as new owners might be happy to sell out to FMG/Wyloo or might be interested in trying to acquire the lot.
"Newcrest’s stake in Ecuadorian explorer SolGold was worth about $84 million on Monday, and while it shapes as a good long-term prospect, a split in the share register is frustrating Newcrest and fellow shareholder BHP.
The owner of the tenements that surround SolGold, Gina Rinehart, would no doubt be interested if Newcrest’s stake came on the market."
Interesting thought Jerry...but at what price...Newcrest said they would continue to hold SOLG as a 'strategic investment', so surely they will at least want their money back...?
Tesla, in some ways I don't disagree with you. However, I believe the productionistas vastly underestimate the long term risks and only see a smooth and simple path to the sunlit uplands. I'm afraid I don't see any investment in those terms, least of all a small explorer.
From AFR:
"The owner of the tenements that surround SolGold, Gina Rinehart, would not doubt be interested if Newcrest's stake came on the market."
No better speculation than anything ever posted on this board.
Orthern...I'm not desperate, except to see how, recently, every time we show some signs of recovery, the ALGOs take us down...today in strength since 9.00
May I repeat...one guys comments on LSE would not have the slightest effect on the SP...
You can call it ramping and yes I do have a very committed position, but I'm certainly not desperate. We have £100sk invetsed in opther stocks and Gilts.
But I'm certain that a bis is coming...its the only thing that makes sense...and soon...
As always, the SOLG management have sadly underestimated the timne it takes to do mundane but mandatory tasks.
I expect the merger to complete this week and then the real market can start.
Best wishes and respect for your right to an opinion.
As a footnoe: whatever Necrest decide to do as a rsponse to a wanted or unwanted approach, they or their suitor will have to ultimately decide what to do with their stake in a Tier 1 Copper/Gold prospect...
So why not a poison pill...? Disruption is the name of the game in 21st century business...
But as the Colonel implies, this could well kick off the long overdue M&A fest in mining...and the Juniors look as undervalued as they have in a very long time...
Jerry, now that is interesting! Thanks. Btw, congrats on your long-time prediction that NCM would fall victim to a takeover.
AFR reporting that NCs stake in solgold might go to Gina.
Addicknt
Of course no one wants to lose money on their investment/s, however there is a difference to being realistic and clutching at every straw to justify their investment.
It seems to me red knight is just gambling/hoping his investment pays off and using this forum to promote his over zealous gambling imo.
You can’t tell me that red knight had not seen the article in thisismoney yesterday but tried to spin it to were off in his earlier post. Perhaps he can’t see that’s just blatant out and out ramping but I think the reality is he knows what he is doing but as some posted earlier he is getting desperate !
Quady gets slaughtered because he believes this will get taken to production and because some posters want a quick return in their investment they attack his posts, when in reality his research stands up better than most to scrutinisation.
Amazing the mining minister has said Solgold is going to production and people on here ignoring facts and evidence again and talking rubbish.
As usual Redknight ( chief rubbish talker ) is saying a bid is going to happen soon.
Why on earth can't this chatroom be talking about Solgold and how we are going to achieve funding and production instead of a fantasy bid.
Let's see if our so called experts on here really know what they are talking about and put forward scenarios for finance with minimal dilution as that is what Solgold have promised us many times.