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Sorry, should have said 'execute'.
Addicknt,
We have already signed the exploitation licence. That's done. It's in the bag. Sorted. However, SOLG has thus far declined from 'executing' that agreement. They have until June 6th to 'execute' it. Thus one assumes there are reason's or things for SOLG to do/achieve before June 6th that enables them to confidently 'execute' on that agreed deal and my guess like others is that it requires a finance package or partners to be involved. I doubt it.... but there's always a chance that Noboa extends the agreement till Dec 2024 so SOLG have more time... but with Ecuador elections in Feb 2025, I'd say Noboa is motivated to see things kept to the timelines he signed in Dec 23.
From my point of view, finance is the key simply because anyone partaking in the finance will want to know what the game plan is. SOLG cannot string it along on basis of optimisation etc... as if doing a royalty stream again.. they'll want to be sure it's moving along as it should.
So I think timelines are more important this time around than say last year or year before and I think Bob and co are motivated to ensure all involved stick to the timelines... no slippage allowed.
Alpala will not be producing until 2030 if these guys faff about any longer and that's not acceptable to Shareholders, Noboa, Ecuador people and of course the IMF.
So it's long overdue... time to deliver... time to execute that exploitation agreement. They have just under 3 months left to do it.
We have a workable PFS, we have a revised IPA (or will have shortly), we have offers of finance and we have certain of the key licences. And we know the government is giving us their full support.
When we get the exploitation licence, is there anything else which may delay some action? I know there are things relating to the environment and water and various planning hurdles, but it would seem to me that they should be formalities.
DBW if you read my previous posts that's exactly what I've been saying, this will all be sorted next quarter. Glad people are finally starting to wake up.
Fort, when have you ever known an 'ops man' sign something with a President? And the fact we don't have any operations rather suggests you're barking up the wrong tree.
BBG, hardly missing? Wasn't he signing a historic deal with Ecuador for $3.2bln investment protection at PDAC couple of weeks ago???
He's an ops man not a CEO... so I doubt he likes the public facing stuff at all. I can't knock him for getting on with the job but he's not a CEO and he's not doing a CEO job. He's doing an operations role.
Bob couldn't get a proper CEO in as whoever it was would just leave as soon as they found out that Maxit were running the show.
We'll get across the line soon but not because of Scott and co... simply because of the amazing resosurces that Alpala holds. Too much gold, silver and copper to be ignored.
From HH on twitter
$SOLG there seems to be confusion because of sloppy press again & official social media. Please go to the Feb 2024 MD&A page
7. States clearly "Management expects the Exploitation Contract to be finalized and announced prior to end of the current financial year" which is 30/06/24!
Erm, Scott gone missing? He was at PDAC last week. Mind you, I agree that he must be very busy.
Also quite interesting was that Friedland made himself very hard for Inco to track down and or communicate with. He literally went missing for several weeks to allow Falconbridge to prepare and table their bid.
Scott seems to be missing at the moment. No events, No interviews. Geez there must be alot happening in the background
Addi- Solgold will force an offer as they will include to 'hello/goodbye' fees in return for a trap door which will allow Solgold to exit any agreed arrangement on the basis a a superior offer is received.
Those wanting greater insight to Solgold's current situation should read the The Big Score (Page 257 onwards).
Friedlands Diamond Fields was being pursued by several groups - their main project being Voisey Bay was too big for Robert.
Friedland's ambition was to create an auction however he needed to force hands.
Inco, the stronger hand, tabled an offer which was subject to lock-ins, which mean't Friedland could not entertain competing bids. Inco did not want an auction. Friedland disagreed.
Friedland used Falconbridge, Inco's smaller competitor, as its stalking horse to push Inco into forcing a big bid. Falconbridge agreed to table a bid based on the proviso Friedland accepted their offer, and included a hello and goodbye fees ($100m back in 1996) which the bill would be paid by any superior bid/suitor wishing to acquire the company.
Falconbridge was happy to table the bid knowing that if they lost out in the end, they had comfort knowing their had made their biggest competitor pay more for Friedlands company.
It would seem Solgold is using Jiangxi as its stalking horse to force BHP's hand, just like Robert did too Inco.
Time will tell.
Link posted from another gold stock.
what would that price do for the IRR on SOLGOLD assets?????? SOLID BUY at current Sp, 3-4 months ??
https://www.kitco.com/news/article/2024-03-14/gold-price-hit-2535-summer-its-breakout-unambiguous-midas-touchs-florian
48 years! Almost two life sentences
Eloro, I met my missus on 29th Feb 48 years ago. Thankfully, being a leap year we only celebrate once every four years. We don't bother celebrating our actual wedding day.
'84, easy. I've got 14 Latvian beauties living in the shed.
Fort, the critical thing is that BHP and Newmont cannot block a transaction, particularly as there's no guarantee they'd work together.
Come on add, who’s going to cook, clean, change the bedding, fetch your beers and do the shopping if not a good lady?!
Surely not Add!
We just had our 14th wedding anniversary, 3 kids later, and we are still finding new ways to motivate each other to borrow a phrase from Lord Vader 😆
If we have X number of interested parties/expression of interest, shouldn't the company have alerted us via an rns?
Eloro, I live in hope.
The share price should reflect the asset value or bid when it comes. It doesn't matter too much how they try and hold it, but there is one benefit in that the longer they keep it sub 10p, the more shareholders (new and old) buy in and as such many will be happy with a 2 or 3 bagger. Some happy with just 50%.
So if a low ball arrives somewhere near 25p... it tests the shareholder base a little more than it would before simply because you have newbies in at 6p or 7p all nodding away to 25p bids.
At end of the day, what matters most is what Maxit, Mather, Irwin, BHP and NNM want. These guys hold almost 50% or over.
So it makes you wonder why the controller is trying so hard when inreality... the big players won't take low balls ... end of.
Add, I do hope that your good lady don't read this BB, otherwise its the sofa for you tonight 😉
Thanks Kat. You've obviously met her.
I'd give him your wife too.
Eloro, ha! I'd give him my wife, although if he asked kindly he could get her for free.
So we enter then next phase in a month or two then six months to execute exploitation agreement? So that will be in place by latest mid November
DBW, theoretically only 51% is required. 75% is required to de-list and 90% to exercise drag-along rights i.e compulsory sale.
Is 51% achievable? Definitely. Would a buyer be willing to accept that? Probably not. Is 75% achievable? Almost certainly -provided the offer offers good value.
I can easily see a situation where a jv ends up buying us. For example, Barrick or Newmont for the gold and BHP or the Chinese for the copper.
"Schlem, yes. It says we've been sold for £3.45 per share."
For that price, I'd carry Scott's golf clubs Add😆