Firering Strategic Minerals: From explorer to producer. Watch the video here.
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Excellent, great news - a big tick in the box! Thanks for sharing it. Solg with largest tenements, bodes very well indeed.
Full steam ahead....upcoming funding news next !
GLA
I don't like the announcement that the government of Ecuador is going to accelerate the withdrawing of concessions that are not used.
How do we stand with that.
Announced at PDAC.
Q, perhaps it will focus minds on getting one of those fabled JVs done on one of our many regionals!
I wouldn't worry about that Quady.
Solgold have been meeting their (relatively modest) minimum spend commitments.
It may actually help Solg - focus on the top 10/20 instead of trying to keep 80+ (including ex-CGP concessions) going...
... and force some JV/farm-out of those lower down the priority list?
The reopening of the mining cadastre is likely to have a bigger impact.
Management really need plans for Cascabel/Porvenir and priority regionals sorted.
Adikt. I read with interest your unfounded claim that the Ecuador government is prioritising solg.
Another of your thoughts being turned into facts.
There are several companies at similar stages to solg.
One of which I have a bit tied up in.
CURIPAMBA (EL DOMO).
Gold and copper, they have the environ licence.
And fully expect to start construction shortly.
Please, start stating your theories as theories. And not facts.
Q, exactly the point I made earlier. To my way of thinking, it would be no bad thing if we lost a few. Although I suppose it could be argued that a potential buyer may have a longer term interest in having so many concessions, but they are of little to no value to us at the moment.
Add …. We have plenty of tenements we could sell if needed.
We’ve pretty much got Warintza surrounded. It just depends how far apart our valuations are
“ Tinkimints copper prospect and the Helipuerto project concessions is adjacent to Solaris
Resources’ Warintza deposit within one of the most prolific portions of the Andean Jurassic
Porphyry Belt, which hosts the nearby Fruta Del Norte and Mirador mines, the Santa Barbara,
Panantza and, and SolGold’s newly discovered Cacharposa deposit at Porvenir.”
DBW, indeed we do have some interesting ones, but we have 70 (is that figure right?) or so and it seems pretty unlikely we'll ever do anything with them.
Of course, if we flog Cascabel as a single entity and we end up with plenty of cash, we may return to our original purpose of being an explorer, which is something we're pretty good at. Bristow referred to how junior explorers got diverted from their primary function and ended up being neither fish nor fowl, something I believe SC is anxious to avoid.
“Neither fish nor fowl”
Perhaps solgold could open an aquarium and a chicken coop to solve that one. I see we’re now into beekeeping too (not joking!)
Https://www.primicias.ec/noticias/economia/noboa-mineria-canada-feria-catastro-inversion/
Are we one of the parties involved?
"The Ecuadorian Government signed six mining investment commitments for USD 4.8 billion, during a visit by President Daniel Noboa to Canada this Monday, March 4, 2024."
What are the six????
The best plan of all would be to get the monkey ooff our backs by simply splitting the business into two parts. We've been over this many times but the reality is, the market has not allocated much value to ENSA and zero to the regionals. You've got Gina R spending $120m over 10 years on a number of blocks... then there's Rio and Barrick plus BHP. All have some licence blocks but they are years and years away from getting to a position that ENSA are in right now.
I really can't understand why Bob and co won't do a spin off of the regionals. It should have been done last year. We already operate the business on an ENSA and non ENSA basis. All Royalty deals are ring fenced to ENSA. Not regionals.
What value would be placed on the regionals x 50 blocks with $50m raised in a newly floated spin off?? It has to be worth at least $150m if the assumption is there is at least 4 to 5 Tier 1 opportunities in there.
Then you have ENSA. That can just tick along in background and any delay games by the interested parties effects very little in the new exploration company. In time the exploration spin off could be worth more than ENSA if the latter drags on for whatever reason.
At the moment, it's the weight of the Tier1 project and the finance required that has basically reduced our share price to 5p and in process mothballed everything else. We've become a zombie company going no where fast.
Get a regionals spin off and new listed entity out there and SOLG shareholders can decide whether to sell out of that and bank some cash or to hold those new shares and see the fruits of some great holes drilled over the coming months and poss find another Alpala.
Ironically, what they should have done with the merger was to do a reverse takeover and put SOLG's 85% ENSA into CGP's 15% holding shell. That would have placed ENSA 100% in CGP listed in toronto with SOLG shareholders owning a respective stake in that business (shares etc). Then the remaining SOLG business listed on LSE and Toronto could have been the regionals. Trouble is, I suspect the off loading of ENSA (85%) was not workable due to the prime asset rule eg ... can't sell off your main asset as need to have offer for full business entity first.
Anyway... for now... we a management team that can't even get an SR story concluded and out to the market so any ideas of smart thinking plans like regional spin offs looks well past them.
Guess we'll fine out but pretty clear why he went in first in place.
$4.8bln is a huge figure when you consider that Ecuador mining is still very much small scale event with Chinese in South.
Makes Gina R's $120m deal look minor.
The mining cadestre is closed... so what exactly is Noboa signing $4.8bln agreements on??
Agreed...Baffling??
From PDAC presentation
"Mining and exploration portfolio spans 16 provinces, covering more than 3,586 Km2 in 89 concessions"
Meanwhile, have we had these results yet...?
"Announced encouraging mineralized intersections within the Porvenir Project at the Cacharposa porphyry copper-gold
target. The results of additional drilling since the previous 26 October 2021 data cut-off should support the conversion
of a large portion of the deposit into the measured and indicated categories, as well as significantly increasing the
resource tonnage in both the measured and indicated categories, and the inferred category"
I made a tongue-in-cheek observation on Friday about Caldwell attending PDAC so that we could sign the IPA with Nobby. Perhaps I wasn't too far from the truth. Mind you, where's the announcement?
Redknight - re: your reference to Porvenir drilling...
Isn't that the 2,610m of infill and extension diamond drilling referenced in the 1 Dec 2023 Porvenir RNS?
Holes 21-27?
Addicknt - I didn't think it tongue-in-cheek.
Would have been a great opportunity to agree and then announce - on the day of talk - the IPA.
What better way to show Ecuador open for business and investment framework to encourage/protect business. With a globally significant Tier 1 asset.
Recent articles seem to suggest changes required to Constitution to enable the full protection framework that Noboa wants to offer / investors require? (I don't know the details).
Could be what is holding up improved IPA for Solgold?
Still not sure what the 6 investment deals were for but the attached does state he met with Barrick executives so maybe a clue there?
https://www.primicias.ec/noticias/economia/noboa-mineria-canada-feria-catastro-inversion/
Scott has purposely gone 'underground' last 3 months. No articles, no interviews etc.
Scott confirms the company has never been in a stronger position.
Scott now at PDAC without any promotion of attendance - standing directly behind Noboa for official photos.
Solg sub $10m in kitty - SR well and truly concluded with lower capex PFS and confirmation of JV to power Cascabel project. Contractors includes Semaica who constructed Fruta Del Norte.
Santiago Yépez confirms Noboa's expectations for PDAC and mentions the following 5 projects will move forward:
La Plata - 250m capex
Cangrejos - 925m capex
Loma Larga - 350m capex
Curipamba - 300m capex
Cascabel: 1,555m capex
https://www.bnamericas.com/en/interviews/what-ecuadors-mining-industry-expects-from-pdac
Noboa signs off on 4.8b of deals per article this morning.
What makes up the 4.8b of deals????
Speculation increasing
NMM, yes, I recall reading that somewhere as well. It may well explain the delay.
"The Ecuadorian Government also signed letters of intent to receive financing, for 120 million Canadian dollars, aimed at clean energy projects."
When you read the final paragraph from the link in conjunction with yesterday's RNS, you can see that this is all finally coming together 🙏, heaven knows we've waited long enough, ignore the doom mongers they don't know what they are talking about...
55p by some Friday soon !!!
The news article refers to the fact that the 4.2bn will not involve any government expenditure. So what do the six parties get in return for their cash? All outstanding licences? IPA? What else?
Is this really the green light, or is it simply another step in the approval process which will require more bureaucracy?