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.
Have a good weekend all.
RK …. Have a good weekend, things will start to happen very soon now IMO …. Who blinks first?
I know phil...its context...
That article is 5 years old
Thats enough weekend reading for now...
https://seekingalpha.com/article/4504491-ascot-resources-a-buying-opportunity-with-a-huge-discount
Solgold mention in an analysis of who BHP might buy...
We're not the only girl in town...
https://www.marketwatch.com/story/solgold-shares-up-after-bhp-billiton-bid-rejected-2016-10-10
Remember this...?
https://www.marketwatch.com/story/solgold-shares-up-after-bhp-billiton-bid-rejected-2016-10-10
And yesterday...
https://www.investorschronicle.co.uk/news/2022/08/11/today-s-markets-elon-musk-builds-his-war-chest-as-coinbase-slumps/
"SolGold CFO lasts two months
Just a few months since announcing the appointment of a new CFO, SolGold (SOLG) has said she is on the way out again. Ayten Saridas’ start date was 27 June. The company did not give a reason for her swift exit.
The mining hopeful is developing the Cascabel copper project in Ecuador, but has butted heads with major shareholders BHP (BHP) and Newcrest (AU:NCM) in recent years and seen various management changes, starting with Nick Mather stepping down as chief executive at the start of 2021.
Jason Ward, exploration manager and former director, has also resigned, after moving to Sydney from Ecuador. Director Keith Marshall, who served as interim chief executive when Mather quit, has also quit after 18 months on the board.
Ward and Marshall will remain advisors to the company. “I would like to thank the people of SolGold for a fascinating, if somewhat challenging 18 months,” Marshall said. Turmoil at the top is not new for SolGold, including a head of communications joining the board for just a few months in 2019.
Company chair Liam Twigger thanked the three leavers for “their contribution and commitment”.
A reminder of the May IC article...
https://www.investorschronicle.co.uk/news/2022/05/09/picking-buyout-candidates-in-the-copper-space/
"The deal many juniors look up to is the 2018 buyout of Arizona Mining by South32 (S32), which paid $1.3bn for a pre-production zinc-lead-manganese asset (and some smaller options) in the US. The company was valued at $1.6bn, and the Hermosa project’s last net present value before the sale was $2bn.
A similar discount for mining hopeful SolGold (SOLG) would see it taken out for £2.35bn, around 3.7 times its current market capitalisation, based on its recent pre-feasibility study for the Cascabel copper mine, which outlined a net present value of $2.9bn. This is a very basic calculation that doesn’t account for the difficulty in building a mine in the Ecuadorian hills compared with the US, to be clear. It’s also worth remembering that a copper mine would attract a higher valuation at the moment, given the metal’s prices and strong demand outlook.
Even Noront, the nickel company from which BHP backed off from eventually, has a mineral resource but is still some way off a final investment decision. The logic around ‘derisking’ projects through detailed studies could actually scare off buyers rather than encourage them as it can lock in plans with governments and other involved parties.
SolGold will be hoping it doesn't get left on the shelf. As Brooke Macdonald, chief executive of the 15 per cent owner of Cascabel, Cornerstone Capital Resources (CA:CGP) told Investors' Chronicle in 2020, "junior companies [have] got into trouble trying to build a project of this size".
Can't remember if this was posted
https://www.miningnews.net/leadership/news/1437608/more-signs-of-unrest-at-solgold
https://www.kitco.com/news/2022-08-12/Gold-Fields-CEO-on-the-company-s-6-7-billion-Yamana-Gold-deal-and-the-problem-with-exploration.html
"Over the past five years, Griffith warned that the return on exploration dollars has been "rapidly diminishing."
"We are not seeing a return for those expiration dollars. What we are seeing is a reduction in the return for those exploration dollars," said Griffith.
"Where we are seeing the discoveries, they're coming in at lower grades and they're coming in at less favorable jurisdictions. The bigger gold companies no longer have the ability to replace their declining reserve and resource base internally. And the competition for those external options is becoming really intense."