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Are we to expect a resource upgrade prior to the PEA for Porvenir? SOLG has only reported assays for 22 holes of which the MRE was comprised. They said they have drilled at least 26 holes at cacharposa, and at one stage had 2 drills operating at the nearby Mula Muerta. So does this imply further drilling results and resource upgrade to be reported and included prior to the PEA. Anyone got NPV expectations (guesses), is $1 billion pre-tax out of the question?
Solg tend to bury sub standard drill results. They end up on page 15 in the small print in future RNS's several months later.
If they have drilled something and you have not heard the results. Trust me they are not worth hearing.
Yep and looking at Dundee's project Porvenir actually looks better. I said a while ago that I expected Porvenir to be turning some gold coin long before ENSA projects. It's quicker and easier to get out and infrastructure already there via Lundin to piggy back. More going on in the south of the country than the north right now. Be interesting to see what the strategic review delivers as could just be an ENSA sale. Think Mitsui would like the lot. Noted the Chinese (Shandong) appear to have made a move on Shanta gold today. The Chinese are snapping loads of stuff up and the likes of BHP and NCM just look heavy footed and tired. Mind you, guess we'll see what comes of OZ minerals bid pretty soon imho.
Thanks LunchMoney for bringing the topic back to Solg, with some objective and quantitative info even if it is an estimate. Starting to lose track of the other assets here due to i)board disruption ii) recent merger focus and Cascabel value centric and probably more importantly iii) lack of any real news/progress around other assets.
Whilst the merger is certainly exciting and a catalyst, my hope is that Solg is a long term investment with opportunities in over 70+ tenements and thinking the next few months / years even will determine if Solg can hang on to everything and spin multiple plates vs letting assets go for more strategic value. For what its worth, I'm convinced that at least one other tenement is going to be similar in size to Cascabel in the future and there is a good chance there could be a significant asset hasn't even been rock sampled yet.
miketrix, whilst share prices are just a point of reference for that day, they are also the markets tool for letting investors know whether they like the business prospects or can't care less. In the pre Lehmans days, you could be drilling for gold or oil based on seismic / surveys etc and be valued at over $500m with ease. Only then to be valued at $5m post duster. Those were the days eh?? Today, markets don't seem that interested in pricing assets on a forward potential basis. Instead the market prices based on failure. Ironic really. It takes a buyer to make an offer before this slap dash pony market reluctantly marks the sp up. So guess in a long winded way... what's the point in SOLG discovering another Alpala if it takes 8 years+, $100's of millions raised and dilution galore?? What's the point?? Here we are based on a world class tier 1 asset at PFS stage and we are valued at 16p lol!
SOLG's main issue (and that's us wee shareholders) is that through the markets ignorance... there are many bargains out there. A year or two back, that was not the case. So you have ii's or fund managers who might be willing to take 50p on SOLG (instead of 100p+) simply because they know they can make that cash work on other stocks that will double in value once the market sorts its sheeeeet out! As Irwin eluded to recently, words to the effect of... lets cash in now and then we can all invest it back into the bargains out there.
The dream scenario would be to get top dollar for SOLG and then reinvest those funds into a beaten up stock (unnecessarily etc) and gain double bubble on the recovery which will kick in once this inflation lark has been put to bed and Putin inevitably strikes some kind of deal. The. latter doesn't want to go into a long Russian cold winter as Ukraine will win that one. Putin has to get through Nov to March period or his troops are toast. So I expect a fabricated peace deal to be brokered over the nasty Siberian winter months and then they can all kick it off again when the daffodils sprout up.
Good morning LunchMoney.
Yes back to Solgold.
I am looking forward to the PEA on Porvenir more than the updated PFS for Alpala.
I think we all have a ballpark figure for Alpala, and maybe some further cost savings.
But for Porvenir we have had very little.
I know they are reporting 3 monthly, but would have liked the occasional result on a good hole to be given a RNS.
Guess that's not how it's happening nowadays.
Dependant on how far Porvenir has progressed I would be happy with an NPV of between 1 to 2 billion dollars.