The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
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Cheers BBG,
Irrespective of our differing opinions, we all want a profitable outcome here. hHopefully, real soon.
Newcrest was trying to sell Telfer for years. Its a dud asset - no one wants it. Tom will need to accept a write down if they sell it.
Eloro - I actually agree with you.
Last week we announced a funding commitment for ENSA's Cascabel.
If this 'package' (to be announced shortly) doesn't involve BHP/Newmont, they will be moving their backsides into M&A mode as we speak.
BHP has wanted us to drown in dilutive financing since they arrive however that has blown up in their face.
Henry = Muppet
Mather = King
Fernando Benalcázar, a board member of Latin American mining agency Olami and former Ecuadoran deputy minister of mines in July 2023 -
---
BNamericas: 'In May Newmont announced the acquisition of Newcrest to its shareholders. What could that mean for Ecuador?'
Benalcazar: 'The decision it makes on whether or not to stay in Ecuador will be a test of the country's attractiveness. It will be a thermometer to determine how one of the largest and most important mining companies in the world sees Ecuador.'
'If Newmont decides to stay in Ecuador, it will seek to acquire 100% of the Fruta del Norte mine and expand its interest in the Cascabel prospect.
I believe that Newmont will stay in Ecuador and use the path opened by Newcrest in its strategy to fully enter Fruta del Norte and expand its stake in Cascabel.'
https://www.bnamericas.com/en/interviews/investor-confidence-at-stake-ecuador-prepares-for-referendum-on-mining-in-biosphere
---
I bet Newmont intend to sell the Telfer-Havieron asset back to GGP-Forrest consortium. Let's they use the cash to buy out SOLG's stake in Cascabel or even take out SOLG in its entirety
Too much talking, and guessing. High time we have a profitable outcome while we are still young enough to enjoy it. Mind you, age doesn't appear to be slowing Rupert Murdoch down!
The longer it takes to announce funding, the more I am inclined to think that something is going on which could end this endless sojourn.
You make some good points.
Lots of people make a big thing about the lack of any solg mentions from the big shareholders, but I would have thought if you are interested in buying something, the last thing you would want to do is tell everyone and talk about it before you actually attempt to buy in.
Solgold has the resource and concessions to replicate Fortescue's journey - even supersede it!
I truly believe that Mike Henry and Tom Palmer's position as CEO's will become untenable if they do not secure control of Solgold.
Newcrest had a couple of nice assets but Tier 1 copper is what Newmont wanted, and I am certain that one of the MAIN reasons they acquired Newcrest was for their interest in Solgold. Like BHP, they've watered down any discussions about Solgold and Ecuador - you won't see either group mention the words.
Tom seems like a smart guy however Mike Henry on the other hand is a muppet in a suit. He is more an administrator than a visionary.
Will the West sit back and watch the East pick up an entire mining jurisdiction that will offer so much prosperity and wealth.
We have played a blinder and last week Solgold confirmed that more news is on the way.
Exciting weeks ahead
No problem…. Just shows the possibilities
I hadn't realised that this article's been posted some days ago..apologies
Nobody awake here! Incredible!!! And what a week this might turn out to be!
Go Gina, Go, Go Go!!!
Drill, Drill, Drill!!!
Actually, just bloody fork out and buys us now as your mate NM has whispered in your ear how rich this really is!!!
'the chatter goes like this. cascabel is in play with more than 20 confidentiality agreements signed by solgold and multiple visits to the project for those interested.'
GREAT WESTERN EXPLORATION (ASX:GTE):
Sandfire (SFR) has hit the brakes on its Aussie exploration effort, preferring instead to focus on the Kalahari copper belt in Botswana in support of its Motheo operation, the Iberian pyrite belt in Spain in support of Matsa copper-zinc operation, and in Montana at its Black Butte copper project.
As is well known, Sandfire spent heaps in Australia trying to find a replacement for its short-lived but magical DeGrussa mine in WA. But to no avail, hence the shift to overseas locations.
Wouldn’t it be ironic then if another company were to find another DeGrussa, a mine which threw off billions of dollars in fresh cash from its high-grade mix of copper and gold.
The irony factor played into interest in the news that the lightly capitalised Great Western Exploration expects to have the drill bit turning soon at its Fairbairn copper project, some 120km from the mined-out DeGrussa.
It reckons geological mapping, sampling, and modelling suggests the conductors present represent “potential for DeGrussa style copper-gold targets”. It is having a crack to find out, with the DDH1 rig rolling up to site in late March.
It is what junior explorers looking for market attention should be doing, having a crack. Leverage to success is what is wanted from a junior, with GTE sporting a $14.6m market cap at Thursday’s closing price of 4.2c a share.
end
Although Sunstone’s current market cap does not reflect it, the company is already on to a big discovery down south in Ecuador at its Bramaderos project near the Pan American highway.
It is shaping up as 10 million ounce gold-equivalent mining camp, with the fairly recent discovery of the Limon epithermal gold-silver deposit within the border Bramaderos area shaping up as starter project to provide the cashflow to get the bigger porphyry systems into production.
But more relevant today is its presence in the north of the country with its El Palmar gold-copper porphyry/epithermal gold project, and the nearby Verde Cico high-grade gold prosect.
Both lie to the west of Hanrine’s new concessions where it wants to spend $US120m and the ENAMI/Codelco joint venture at Llurimagua mentioned above. Cascabel is about 65km to the north-east on the same fault system.
So Sunstone is in the thick of things at El Palmar where it has multiple porphyry targets, and at Verde Cico, which was explored by Rio Tinto in the 1990s (near surface hits included 52m at 1.3g/t gold and 41.5m at 1.3g/t gold).
Sunstone reported cash and investments of $4.9m at December 31. Given the market’s current lack of interest in exploration, it will be holding off committing to new drilling programs in the south and north until the tide turns.
Low-cost trenching activities will continue to advance the properties in readiness for new drill programs which could well be funded at a share price higher than today’s levels by a market turned on by corporate activity among the heavyweights in the country, or the arrival of a $US4lb-plus copper price.
cont...
What is not doubted is the ambition and firepower of the firm to expand and diversify beyond its Pilbara iron ore riches.
It’s daring push into lithium with the joint bid for Azure (AZS) with Chile’s SQM, and its acquisition of its 19.9% blocking stock in Liontown (LTR) in opposition to Albemarle’s bid, is ample demonstration of the intent.
SUNSTONE METALS (STM):
While Gina Rinehart continues to demonstrate seemingly unlimited chutzpah fuelled by continuing bumper iron ore prices, there is precious little of it being displayed by investors in the junior explorer space.
Because of its Ecuador-focus, Sunstone (STM) is an obvious example to use today.
It has become friendless in recent times, drifting down to a princely 1c a pop before a 10% rally in Thursday’s market to 1.1c for a market cap of $38 million.
It could be that Thursday’s push along was a response to the Hanrine pick-up in Ecuador. It is not every day a company of any scale plonks down $US120m on the expectation it is on its way, potentially at least, to uncovering a big discovery.
cont.....
the chatter goes like this. cascabel is in play with more than 20 confidentiality agreements signed by solgold and multiple visits to the project for those interested.
bhp and newmont (the interest came through its newcrest takeover) are no doubt in the room. but will they make a move or let other major mining group’s take on the multi-billion development?
han**** prospecting has $us20 billion in cash or thereabouts at its disposal, so it is also no doubt in the cascabel room.
cascabel is just the sort of project that needs to be developed if there is any chance of the gap between supply and demand for copper that bhp says is fast approaching is to be closed.
and then there is hanrine’s pickup, surrounding llurimagua and along the same big andean fault system that hosts cascabel.
historically at least, there has been social and environmental opposition to llurimagua. but could a new broom in the form of han**** prospecting get that all sorted?
so it could be a case that han**** prospecting has cascabel or llurimagua in its sights. and failing that, a serious commitment to finding the next big one on the new hanrine ground, or back at its existing ground position to the south of cascabel.
cont...
the move has potential implications for everything from the big cascabel deposit through to the fortunes of sunstone, which has two projects near gina’s new undertaking. plus, $14m great western about to drill three degrussa lookalike targets in wa.
by barry fitzgerald.
posted on february 29th, 2024
fresh from stirring things up in the aussie lithium scene (azure and liontown), australia’s richest person gina rinehart has stepped up her interest in the copper-gold riches of ecuador.
hanrine, a subsidiary of her han**** prospecting, has just plonked down $us120 million in exploration commitments to secure a 49% interest in six concession areas in the north of the country.
its winning bid makes it a junior partner with ecuador’s national mining company, enami (51%), as is required under the constitution.
hanrine’s pick-up confirms han**** prospecting’s big time copper-gold ambitions in the country.
it is already active at prospects to the south of the london-listed solgold’s tier-1 cascabel project, with bhp and newmont owning 10% respectively of solgold at last count.
now the hanrine pickup positions it close to the big llurimagua copper-molybdenum porphyry discovery (1bt at 1% copper-equivalent), a joint venture between enami and chile’s codelco.
all that has got ecuadorian tongues wagging that perhaps han**** prospecting thinks the time is ripe to make a move to become the dominant player in the north.
cont..
55p by any friday soon would be amazing 😉
Yes HfH
A bidding war could easily see this sold for billions. A £1+ share price is well possible.
GLA
The interview confirms the thoughts from my last post. The one and only priority for Scott and Chris should be enforcing our cash position. Once achieved its the difference between Cascabel being valued in billions as opposed to hundreds of millions. However as I've stated before, I'm very hopeful it will indeed be sorted this month, and with gold forecast to hit $2,500 an ounce by the end of the year, and the PFS costed at $1,750, Cascabel could not only be huge for us it could and should be gigantic.
Condolences 1984. A bad night for boxing and an even worse one for your betting account.
I think the interviewee dismisses the environmental issue too easily. It is a serious issue, but luckily not for us.
I like Paul Harris.
We get a brief mention 5min+ & 15min+
https://www.youtube.com/watch?v=JiBnO0yQiGY
That was a turn up for the books. Joshua is so inconsistent, sometimes he can be truly impressive and on other occasions he looks as if he barely has a clue. The one thing this fight did show is that Tyson needs to up his game. Last time out he looked flabby and out of condition. He's now at the age when if he wants to avoid humiliation and risk of serious injury, he needs to train twice as hard.
He’s not throwing his left at all, has he broken his hand?