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They split Blanca into 2 bits last August, to get around CGP. I imagine therefore that they then drilled the part that CGP have no interest in. Permits were issued at the end of September I think and the first we heard of it was in some results that were a bit of a damp squib in mid-November.
Disappointing, but then if you've got targets like Porvenir and La Hueca to go at then who cares!
Is Blanca not in 2 parts one belonging to ensa and the other in another subsidiary.
I believe it was disputed by cgp last year so maybe why no more results were released at the time before the split into 2 parts.
NM mentioned around September time last year that the artisinal miners had been at it but they finally managed to clear them. It was after the June referendum issues had been resolved, presumably related. He wasn't shouting about it for obvious reasons. Blanca has gone quiet just like Aguinaga did...there's still a good chance of a resource there I reckon, but clearly it has gone way down the pecking order.
Tbh I think we would have heard about it if the illegal miners had been Chopping away at Blanca
Grimbergen, which cores are you referring to? The Blanca ones? He released details on 2 of them at the time - they were very high grade but thin veins - we then didn't hear any more and have been told the geology is "complex" on several occasions since. Unfortunately, I think the artisinal miners have been at it. That's the problem when you announce exciting prospects that are near-surface; all the savvy, illegal artisinal miners are straight down there the next day. The deep stuff is fine because they can't get to it.
Yes, sentiment would have been muffled but I think the lows would have been higher nevertheless, and the rebounds quicker and more pronounced, and I don't think we'd be sat at 22p now. But it's speculation either way.
One could neither have predicted what happened in Ecuador in October, nor the pandemic obviously, so they didn't impact NM's strategy up to that point; if he had had the funds to attack Porvenir last October, I think he would have. A hit in late October, in combination with the great metallurgy results, would have done wonders for the share price and I think he could then have got BHP to come in at 30p+ for a top up. Speculation again but it makes sense to me.
The long-winded point I'm making is that I don't think NM has played a blinder either with the timing of the drilling of the regionals nor with the CGP bid fiasco. I'm just glad that both are finally underway and out in the open. That's not to say I don't think he/Ingo haven't done well with the FN deal etc.
Miagi, any sp impact would have been muffled or just swallowed up by negative sentiment at that time - who cares what you have in the ground if you can’t pay for the drills to keep turning?
Funding certainty (when finally sorted, at least for the next 18 months provides a much better platform for value to be realised and accrued.
Plus, if NM had achieved a bump in the SP and based the CGP bid on it, the likelihood would be that the sp would drift (as is the case with explorers), gradually making the CGP offer less and less attractive.
My thoughts, each to their own. But if your reasoning is right, why didn’t NM assay those cores and release them? He’s had 6months+ to do so.
Grimbergen, I fail to see why it would have been tactically a poor idea to release fantastic drill results on another prospect prior to this time - it could only have lent strength to the share price, even through last year's Ecuador fiasco and this year's pandemic; having proof that SOLG has 2 deposits nailed on (alpala + one other) would have eased all aspects of financing the company, including getting equity raises off at higher prices etc. I don't believe the delays have been "tactical" at all - they have been finance and permit dependent - NM would have found a French translator in double quick time if the regionals had been full steam ahead last October, or if Blanca had come up with the goods proper (instead of being somewhat "complex").
Agreed Grim .... added to that cornerstone have been selling the furniture to pay the mortgage and a nice sustained rise here could make , what was once seen as a derisory bid , suddenly look very attractive.
Things have changed plenty over the last few months and NM now seemingly holding at least some of the cards .As he made clear in that excellent interview.
I’m sure he is. Not much value in releasing some nice near surface gold assays amidst a pandemic and before the CGP bid was in. It actually made sense for Solgold to finalise the bid at a low sp, and having done so release news that increases the sp and by so doing make the CGP offer more attractive. And what better way to do that is by releasing some assays on a new deposit that CGP have much less exposure to, rather than part of ENSA.
If he releases good assays now, and gets the funding sorted, the CGP offer might look very attractive all of a sudden.
That’s really why everyone’s excited - Solgold suddenly (for the first time in ages) have both a tactical and strategic reason to release SP-impacting news and substantially increase the company value. Tactically, that’s not been true until now.
The BHP standstill agreement ending too really does make this quite compelling.
just get the feeling he is intentionally holding back on this one.
yes thanks, so where are the assays?
Hi Earthling. Check the RNS from November 15th last year - drilling with a man portable drill, some gold intercepts, but as far as I know have not been assayed yet (or not released anyway), and drilling was stopped early 2020 (whether for Covid, or not wanting to release data to the market yet, IDK)
Hope that helps :)
of BLANCA, if the expected bonanza grades anticipated a while back still stands, why have they not put a few pins in there?
However, I'm sure I read they had started to drill at BLANCA recently?
Anyone know whether we have started to drill there or not? He mentioned it several times with regard to bootstrapping the main asset. Having a high grade shallow gold discovery so close to Cascabel?