The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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China's existing huge copper project in Ecuador is Mirador...
The project is owned and operated by Ecuacorriente S.A. (ECSA), a subsidiary of the state-owned Chinese company CRCC-Tongguan Investment Co. Ltd, which comprises Tongling Nonferrous Metals Group Holdings Co. Ltd. and China Railway Construction Corp. Ltd.[4]
The major shareholder of the company is the state-owned China Railway Engineering Corporation (CRECG).
Lawyers acting for the acquisition of this project were dwvp...specifically Ian McBride...
And guess what...
DWVP is "Acting for Cornerstone Capital Resources Inc. in its proposed merger with SolGold plc pursuant to a court-approved plan of arrangement, consolidating ownership of the Cascabel project in northern Ecuador."
And they also acted for Maxit Capital LP, as a financial advisor to Guyana Goldfields Inc., in a successfully contested plan of arrangement under the Business Corporations Act (Ontario) in relation to Maxit's retainer agreement with Guyana.
And of course Maxit acted when Anglo-Australian BHP agreed with Guyana Goldfields to buy a 6.1% stake in Australian SolGold...
And then of course..."In October 2016, SolGold shareholders rejected a BHP investment proposal for the development of the Cascabel project.
BHP had offered US$30mn, or 22 cents per share, for a 10% stake in SolGold.
Instead, the shareholders accepted Australian Newcrest Mining's offer and a proposal by private investment company Maxit.
The deals called for Newcrest to spend US$22.8mn for buying shares equivalent to 10% of SolGold, while Maxit got 4.43% of the company for a US$10.1mn investment."
"In the last month Ecuadorian porphyry developer and explorer SolGold has attracted Jiangxi, the largest copper producer in China, as a third strategic investor on its register in addition to BHP and Newcrest, prompting speculation of a potential bidding war."https://stockhead.com.au/resources/asx-copper-plays-looking-mighty-attractive-as-price-heads-north-and-ma-ramps-up/"
Red are you giving the lesser know a clue there lol!!:):)
Hi All,
Don't know if this has already done the rounds, but link below is to an article on Massif Capitals entry and exit into Cornerstone.
https://seekingalpha.com/article/4574078-cornerstone-resources-a-timing-misstep
I found the hormone therapy far more debilitating than the radiotherapy. I still suffer from some of the side-effects and have been told I may do so for ever. Still, it's better than the alternative.
"Back in the day Solgold attempted to buy CGP TWICE before they merged this time around. This was with BHP and NCM’s implied backing. What was the purpose? Control ENSA 100%. Would make the asset sale a clean process with no minorities and easier funding."
"Sumitomo, Mitsubishi did not buy into Solgold but Jiangxi will not stop at 6.3% Osisko lent. Both did due dill"
"something big is going to be announced in the short term...."
It's life altering, you always hear of it happening to someone else and then it happens to you, in my case 12 months ago sat on my father's bed and watched him die from advanced prostate cancer. Peace to all who know that pain, including you Sean.
Sending you positive thoughts RK,.
My mum died of breast cancer when I was 12 and as a kid back then I came across these words from Ernest Hemingway that have stuck with me ever since:
"The world breaks everyone and afterward many are strong at the broken places.
But those that will not break it kills. It kills the very good and the very gentle
and the very brave impartially."
In the end none of us are getting out of this alive, but until then we have every day, every passing minute, to look after ourselves, take care of our loved ones, and give some meaning to life. Every now and then - if we are lucky - we are reminded of this and in those rare moments of clarity we get to see again what is really, really important while we still have time. It genuinely is a wonderful life.
Onwards and upwards buddy.
Im told that you have posted kind thoughts massive...thank you. RK
To be honest red after reading what you posted earlier I instantly changed my opinion of you especially due to losing my father to the same dreadful disease.
Sometimes it's easy to forget behind each user name there is a real life person going through many obstacles that life throws at us.
Will do my best to not get caught up in blogging board drama anymore.
All the best.
Quady, just send them an email yourself. They’re pretty good at responding. Please post any info you glean!
investors@solgold.com.au
Thank you for the kind comments.
You can see why a Solgold takeover would be potentially lifechanging for us.
Life seems so precious now and I've never been more happy.
My 38 RT sessions at Jimmys in 2021 weren't delayed at all by COVID. Must be the best on the country.
Its funny how the info gets out and then you suddenly find loads of other people have had it and I seem to be doing better than most...especially with no surgery.
However...and I'm not joking...I am now going through the menopause because of coming off the hormone injections...much more inconvenient than the treatment itself.
Final note. When I was diagnosed I had minimal signs and knew nothing at all about it. People seem to know more about testicular cancer.
I've told both our sons to get a PSA test and IMO every guy over 40 should have one every year.
So...thats enough about that and not to be mentioned again.
Thanks for the kind words and the tick ups.
God bless you all
Just a thought.
Those of you in regular communication with Solgold could ask when Solgold would be issuing an update on this latest piece of news.
DM, good posts. Aside from points you highlight, it really does demonstrate the benefits of being a mining 'producer'. Not many in Ecuador and bulk of them (on decent scale) are in the south where infrastructure is already in place (built by chinese I suspect!) and as a provence it I looking to expand. That's why SOLG have made recent murmurings about Warintza and our exploration targets that are close by or possible extensions. Add to this, Porvenir is within all infrastructure. The irony is, the Chinese (who invested directly into Porvenir via Valuestone) may end up being more inclined to take on the SOLG spin off entity or invest heavily In it. My assumption there. But essentially ENSA goes to IPO or auction and SOLG then continues via deals with Chinese on remaining folio. Not much activity in the North apart from Alpala so all action mainly in the south.
This market is so asleep at the wheel it's mind boggling. Porvenir (on its own) likely worth our entire market cap not to the mention the $85m+ on cash balance (prob a bit less now!).
ENSA proven and worth a lot of money but the rest of the folio is worth possibly more if we can monetise it swiftly rather than explore for a decade again.
Same here Padmaster.
Unfortunately it seems our opportunity to see this extraordinary sight is receding.
All the best.
Not yet Quady. Cloudy skies over past few nights. Hope to see it still, though will quickly get fainter.
(Apologies to all for off topic)
Sire you also have to factor in the fact that as Brexit was officially coming into force in 2020, the Government went into lockdown madness and the NHS basically downed tools for 2 years.
I think it will be many years before any sort of normal, comparable situation is in effect where we can compare pre-Brexit to post-Brexit factors when it comes to industry or the NHS. We basically hobbled ourselves with lockdowns and restrictions, economically, socially, logistically - Brexit is a drop in the bucket compared to the long term damage we inflicted upon ourselves in the Covid panic.
We can and will throw more and more money at the NHS and they can and will mismanage it. The NHS that most of us grew up with is gone, it disappeared in March 2020 and what we have now is a chaotic lottery and a huge albatross around the nations neck that no longer does what it says on the tin. The NHS under Thatcher in the dark days of 1981/82 (anyone remember "Britannia Hospital"?) was in a better state that the one is today - at least back then they focussed on simply trying to make people well and coping at the A+E frontline. Today it is a mess, driven by agendas, politics, virtue signalling and an ever increasing budget for beaurocracy, consultants, agency staff and perks for management. And its never going to get any better from here.
Aw yes RK Take care and wishing you a full and speedy recovery. So admire your positivity for your illness and on here. I love reading your posts they make me positive too. My lovely friend has the very same and it’s been really trying for him and his wife. Sending all the best to Mrs K too
Shouldn't we, the shareholders have the findings from the Sr?
If pre construction work is being planned then decisions have been made.
Seanhunter I have been doing this for over forty years.
As a takeover target, we just became a much tougher proposition.
The whole point of Solgold is we discovered this world class deposit at Cascabel.
So with that one fact, you only need to ask yourself one question.
How big does a world class deposit have to be, so that the company that discovered it can develop it.
RK, me too. And I had the added joy of having my treatment delayed by five months 'due to fecking covid' and the ludicrous over-reaction of the NHS. I'll never forgive the politicians and bureaucrats who made this decision, one whom, I ashamed to admit, is a cousin of mine.
Quady, alas as with every major astronomical event of recent years, the skies above Glasgow have been cloudy night after night lately. The light pollution is terrible too. I have a pair of 25x100 binoculars for stargazing but sadly they have been useless.
We had a family caravan down in Eyemouth on the east coast growing up, and the night skies there were amazing.
Nowadays we have to go up to Glen Coe and beyond to see truly spectacular dark skies and even then the rain is always a threat but on a good night the meteoroids come thick and fast. Also the Milky Way is discernible, which is quite rare from Britain.
Anyway - these posts about Ecuador needing Cascabel developed are encouraging, because we are not the company to do it, so a sale will be necessary for both Cascabel and the country to move forward with their mining ambitions.
I'd wait till the ink is well and truly dried on the merger, but it's clear that a sale is the only way forward in the interests of everybody.
Those who want to go on the journey as cascabel is developed will be able to do so via the company/companies who take us over - we will no doubt be issued at least in part with shares. It's only the beginning of the Cascabel story, but I won't be on board and neither will SOLG.
Good luck and swift recovery RK
I also wish you a swift recovery Redknight.
Take care.
Understand addicknt.
However the government may act as guarantor, if Solgold have presented a credible path to production, negating the requirements for the DFS and BFS.
I suspect we are going to get news of this sooner rather than later.
One final point.
It doesn't mention Alpala, it talks about Cascabel, so we could be talking about a piggyback operation to bring Alpala to a full block cave production facility.