Firering Strategic Minerals: From explorer to producer. Watch the video here.
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I was just thinking back to how often any of us have correctly guessed a particular corporate event - aside from the obvious such as cash calls.
Some of us correctly predicted the fateful AGM would lead to Mather's demise, but even then that was pretty obvious. Beyond that I'm struggling.
Incidentally, there's no point arguing that because we haven't been sold yet proves that we're going to production, because it doesn't. The proof of that will be when the first ore emerges.
When you think of it in these terms it shows just how much we are in the dark and how unpredictable this company is.
Can anyone think of other examples? Evidence will be required.
Disagree addicknt.
The proof that we are going to production, will not be when we get the first ore, because by then we will be in production.
The proof we are going to production will be when we start work on the decline.
Q, obviously I disagree. Digging a hole doesn't equate to production. Production is defined by having a saleable product.
Doing the test shaft would boost the asset price assuming ti derricks via proof of concept. Not sure how much that would cost.. possibly $200m? Think Darryl said it could take 18months to complete... so on that basis, SOLG would need to JV rather than it be an outright sale. So you could see a deal that gives away 10% of ENSA in return for all the blind sunk shaft work or staged % stakes on completion of various derisking works. I don't think Maxit and co want this style of monetisation as it's simply kicking can down the road but that said... if copper prices are soaring in 2025 and SOLG had a proven mine shaft that derricks entire project further, then the 90% ENSA stake is going to be worth double what it is today.
It's always a game of business acumen vs greed or desire for early cash in the hand etc. Unfortunately for us (or fortunately!) we have Maxit on board and they are the 'early cash' types.
Adikt. As per your eagerness to rush to post and appear superior has made you look silly.
Quady clearly said GOING to production.
GOING to production is NOT producing ore.
That's being IN production.
GOING to production is by its own definition GOING to production.
I know your in a battle to be the solg board superior being, but I'm afraid quady gets today's points. im afraid he's once again made you look silly.
Much the same as your hysterical post ref the rumour I repeated.
Count to 12 mate before posting.
As
Fort, I didn't really want to get sidetracked by the issue and definition of production. My question was about how often anyone's ever correctly guessed a corporate action.
For me, this company is the most unpredictable in which I've ever been invested, which in turn is a function of successive management teams who've failed to set a clear strategy and then to deliver on it.
I think you need to ignore the management line and focus on the Tier1 status of the mine. How many minnows do you know that make it this far with 100% interest and as such 100% capital development costs. It's the mining cycle game for you. Most minnows farm out the bulk of it through super majors tapping them up in early stages. Often forced to Gove it all away on the cheap like GGP and Newcrest scenario. SOLG ducked that... it was a masterstroke. Tapping royalty payments was only possible due to the quality of the asset and the size of it.
So ask yourself a different question... instead of looking at corporate activity and predicting it... ask yourself how many Tier1 mining assets are out there now that are NOT in a super majors hands or a very large Chinese conglomerate or National like Codelco etc??
I don't believe SOLG will be the first minnow to be 'stuck' with a Tier1 asset on the eve of a massive copper shortage do you?? Focus on the asset, it's world class... greatest find in last 10 years and has amazing metal mix which smelters die for. It's a cracker. But it's risky block cave and demands a lot of Capex before payback time and that doesn't suit the likes of BHP and other super major shareholders these days who just want fast low hanging fruit deliverables with zero risk. Trouble is... they are short lived and becoming harder to find.
What another ridiculous post……
If this tier 1 mine was on the moon would you be focusing on the asset….
Cart before the horse, no] wonder you are floundering badly.
There is no evidence of what will happen currently because the company haven’t told anyone anything and judging by the volumes not much is happening behind the scenes either.
RAMPERS GONNA RAMP
At least some shareholder are actually asking themselves what are the board playing at!!!!!
I'll make a prediction: I predict that 90% of the posts on this BB this week will be negative with experts extolling why nothing good will happen here because the SP is currently low.
I don't recall them posting negativity when the SP was touching 41p back in 2022. I think the minute the SP tanks, thanks to DC funding failure, out they come with their negative prognostications!
Given that we don't know who the suitor is who is at the heart of the current rumour, let us predict who it is so that we can identify the true experts in the event that the rumour becomes a reality!
Fort, I as usual just read your latest blockbuster with complete indifference. But one sentence caught my eye.
Your claim we've kept 100% interest.
Bearing in mind, all your posts without exception.,
Lack even a semblance of facts.
Your 100% interest claim. Is breath taking.
Your posts are littered with.
It's my hunch
I believe
I think
I'm sure.
My theory
But you manage to spend hours dreaming up blockbusters for us, trying to make your hunches look facts.
Mate, it's only the solg gullible who take it in
It's chinese.
That's because one outlook for the company is quite negative Eloro.
With each passing week that the company shows no sign of delivering value for shareholders, that negative outlook looms into view.
Focusing on the asset as Fort suggests is utter bunkum. A tier 1 deposit does not equal a tier 1 mine. If it did, we wouldn't be sat at a £425m valuation for our 100% interest.
Eloro, it seems to me people now divide into the bullish, the jaded optimists (I count myself amongst this group), the pessimists (Bozi and DM are the most eloquent of this bunch) and the downright morons (I think you may be able to guess who they are). Between us we cover all moods, although I accept the pessimists have understandably been in the ascendent over recent months.
Personally, having stated this before, I think that given the country risk and the need to prove economically how the resource can be extracted, simply there are no unconditional buyers who just look at the size of the resource to pull the trigger. So management is forced into a corner, where it needs to bring the project to a more advanced and derisked stage. My take is that this is what Scott is aiming for, which also supports why he had to move to Ecuador. I don't think there is a big mystery here, or incompetence, or any other conspiracy. NM thoughts he could sell and for the same reasons he could not, DC tried to reduce the project profile to make it more palatable but he failed, SC is giving it another go and from what I see he seems more pragmatic about it. The price can only behave as it does for these reasons, until the eventual big news come out.
Cheers Fort,
I think it's FMG.
I was going to predict that Bozi would be along to fly the negativity flag, but that would have been provocative:)
Apparently, we have someone on here who doesn't think we own 100% of Cascabel (I assume he was talking about Cascabel, but I can't be sure). Does he know something we don't?
All valid points, DM.
DM, you do understand that any 'new' or updated PFS's are required to input current interest rates, inflationary issues and metal prices.
Seriously... why the ....$%%^^ would SOLG go and do that? Sometimes you need to align your frustrations with the market and changing circumstances rather than with SOLG. Don't get me wrong... it's frustrating... but there's absolutely no point what-so-ever burning cash on speculative exploration when you need to conserve it all to help give you the upper hand with your current jewel in crown and most important asset. Yes.. I want exploration too but I don't want to see us do more dilution or give the buyers or partners of ENSA the upper hand.
Sometimes you have to be smart and realise that decisions are made for a reason and based on strength. SOLG is in a strong position right now. Had they blown $30m on exploration, we might have another Alpala on our hands or we could have another cash call on our hands. Furthermore, it's possible when the chinese took part in the last capital raise at 16p/17p... they did so on bass of no further dilution until ENSA deal concluded. Who knows. But get a deal done on ENSA and then return to exploration makes perfect sense. Or... split the company into two and allow some investors to exit or take part in a dilutive capital raise to fund an exploration folio. I think the latter is what is being planned and hence the website revisit or delays. Just a hunch!
But in summary... promises made 12months ago... sometimes need reviewing against market backdrop. A new PFS today would be a disaster. But a new PFS next year might be great. Timing is everything.
Eloro - you think it's FMG based on what?
One of us here is throwing names up into the air under a thread set up primarily for speculation.
One of us is cautioning against unsubstantiated rumour. I appreciate I might be coming across a bit heavy but I'm naffed off. I want to see something tangible from the company, not necessarily sale news, but I want to see this updated mine plan.
It is absolutely not good enough for Scott to call a strategic review that disappears into the long grass, bring Bob and Dan on board who produce nothing in nearly 12 months and then let slip that there's advances to Cascabel coming but then not say what they are or if we'll ever be furnished with the details.
The time is now to stop waving our fingers in the air and rowing in behind Fort. This company needs holding to account.
Bang on DM, unfortunately.
DM, they bought more shares in June of this year.
Hi Bozi, I think it's FMG because they know cascabel, and they are looking to get into copper. Yep, so are a lot of other companies, but I think FMG will not be able to resist kicking BHP.
I share your frustration with the current state of play with Solg, and I expected more from Scott after he took the trouble of calling out previous management.
I am left to accept the possibility that we are not hearing any news because they are busy working on those things which will become news. I am reassured because we have a tier 1 and we are not like some other company with no deposit, but carrying out raise after raise. It won't be long , the agm will be here and we can vote against the people who are not performing.
There are no bounds to your ramping…….
“SOLG are in a strong position”
Whatever you are smoking I’m sure lots of others would like some!!!!!!!
Living in cloud cuckoo land
Are you trying to convince yourself or others with your daily BS
FMG has keen company. Majority of super majors are in ecuador already BHP included but most have small acreage and early stage exploration. FMG are the second largest acreage holder in Ecuador to SOLG I believe but anyone out there free to correct me.
FMG may well end up with it all. But first bid and offer will come from chinese (imho). They are invested with a 6% stake at 16p/17p levels so will do nicely even if they lose out but it's small fry compared to the mining /resources opportunity lost.
Lately there has been some Aussie consolidation and with BHP / Oz minerals deal finalised (may 2023) and Newcrest Newmont deal set to conclude next Q I believe, the pool of miners reduces. But the power of some has increased. Newmont are a bigger business now with NCM under their belt. I don't think Newmont will be ditching anything in Ecuador. But equally... I don't see them acquiring that much more either. Twiggy or FMG looks set to bleed GGP dry or at the very least dilute them further. I don't think FMG have friendly ideas for GGP. They are tough business players. So reckon we'll need multiple interested parties to see FMG pay decent price. But I like the idea of Twiggy v BHP again. Now that would be fun.
Fort, best stick to the mindless ramping of SOLG rather than waffle on about shares and companies you clearly know nothing about.