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Fromm3 minutes
No he said that.
Hi Lunch
In the Business Activity RNS on July 28 SOLG said:
"Porvenir is the Company's second priority after Cascabel and SolGold has engaged M3 to progress the Porvenir project Pre-Economic Assessment ("PEA") that is on track for completion by year-end."
Whch accords with your quote:
""On July 28, 2022, the Company provided an update on the progress of activities within its exploration portfolio and
the Cascabel Project and, among other things, advised that Porvenir is on track for Pre-Economic Assessment
completion by year-end"
The FY started on June 30 so it sounds like the Porvenir process began early in the new FY, so I don't see why it can't be completed by 31 Dec, unless...something else intervenes...
Lunch I was trying to work when placement of cgp shares myself I'll go with you on end of November another book closed as dbw said this morning tidying up their books for a reason imho
Lunch...at Noosa only a few months ago, Nick made clear SOLG will be sold...
Autobots haven't started yet watch this go lol!!:)
Comon copperpot big news coming before Xmas and that's not quady or Tesla telling us we going to production ...
Lunchmoney - wind your neck in mate. Yesterdays exceptional increase in price and volume was not down to this morning's annual yawnfest. That was my point if you'd read my post properly.
Tesla1 - you clearly see yourself as the new Slug. You can be as nasty as him, but you ain't as smart as him. He occasionally makes some spot on predictions and accurate assessments. youare just an irritant - clearly not invested here.
Copperpot - another long termer who tells people to be patient, to go away and chill BUT ARE ON THIS BOARD EVERY SINGLE DAY THEMSELVES.
There we go boys. Sorted.
I suspect those standing outside William Hill are better dressed and don’t have as big an ego…..
Jaysus, talk about clutching at straws!!!!!!!!!!!
I think a few need to take a break from here.
Lunch ,oh yes
Sean yep big bounce on news coming leaky ship
Insiders clearly knew there was an RNS on the way. What a leaky company.
However, all that buying couldn't have been for this mornings nothing burger.
Starting pistol went off too soon.
I expect a good news RNS later this week.
I try not to wade in here too often, but I agree with you on this one, and we have to start looking a lot closer at reality.
At the moment we have a valuable asset, that is not in dispute.
However, what we do not have is a plan or a board willing to deliver a plan to realise the asset.
Founder (NM) is quite clearly of the opinion that we can go it alone and develop the asset, but there is very little reason for anyone to support us in doing so - they would be stumping up the cash and the mining expertise whilst leaving a lot of the profit in the hands of SOLG that will not be contributing anything going forward.
So the obvious solution would be either a full sale of the asset (maybe just Cascabel in the first instance) so that the buyer can exploit it, or possibly a JV where SOLG are a very junior partner. The alternative is to carry on business as usual until we can find no more 'easy' money to keep us going and then trigger a fire sale.
Obviously I don't want the latter, and for me the former would be best for holders - we'd see a decent chunk of cash returned to shareholders and no longer have to support a board that seems to have lost it's way in the last three years.
Looking at the official news flow, I feel that this is what is being prepared for at the moment (I know that contradicts me saying that the board has lost it's way, but I think that they are to some degree making plans again now); getting full ownership of the resource is one step; the royalty deal is a small stepping stone to allow us to continue operating long enough to create a sale agreement, it is not long term funding and does not actually enable us to exploit anything, anyone that thinks otherwise is following a red herring in my view. The next step came this morning, with a very clear statement that we have enough money to run for another few months, but are not planning to do anything other than keep it ticking over.
I don't know what the final value of this will be - copper is currently in high demand, and that is likely to continue throughout the coming recession; gold will piggy back that copper demand as a circuitry component, so the value of the asset is not going to diminish anytime soon, but whoever takes it will need deep pockets to exploit it within the constraints that the local govt are imposing, so the value in the ground is not a good indicator as to what may be realised.
Just my opinions, got too much time on my hands this morning!
T
Bob indicates in the article that these studies are a waste of money and that a sale or partner at asset level is achievable without these studies. So do not wet the bed. This is from another investor: "We are not going to be building this mine and anybody who is will take our $60 million study and throw it in the garbage. To [complete a feasibility study] DC will dilute [...] and weaken SolGold [....] "
Dbw, this is where I would suggest that the equity SOLG has built up amongst communities & w/ government would be the only value-add we could bring to the table in a JV situation.
Mister a JV makes the company less valuable IMO and too be honest what have we got to bring to the party once deal is done ?
Surely it is in SOLG interest to get PFS2 out as it makes the JV/Sale more valuable.
Correct dbw
Nothing I can find about PFS MRE delays ….
Pea and pfs are in the schedules of work to end financial year 22/23 on June 30th
That doesn’t mean they’re delayed it just means they’re budgeted in that financial year
It’s simply assigning which tasks are in this financial year
Or that’s how I read it
Red if you read your post back, you sound those people standing outside William Hill.
Let’s hope it is…. Anyway.. for some reason I’ve posted far more today than I normally would do.. so I will leave any more till another day.. I feel like I’m just waving my fist in the air shouting at our position…
Orthern...you'll be sorry...we now have 2.2 million riding on this...
I have zero faith in this shower of s@@t either.......
No clear leadership, No plan, No cash, rudderless , clueless !
Anytime we get cash it vaporises into thin air.
Get nick back to the Helm
Orthern I’d never claim a deal I’d in the bag , I just think it’s by far the most likely scenario now