Rainbow Rare Earths Phalaborwa project shaping up to be one of the lowest cost producers globally. Watch the video here.
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On the day before the CGP merger was announced, the SP was 17.46p, valuing SOLG at c£400m...
The MD&A states: that the merger valued CGP at £96.7m...
The current MCap is £538m so...at face value it seems that the merger has added an incremental value of c£41m at current SP, over and above the ascribed value...
"The Company continues to pursue its strategy as an integrated explorer and developer..." (NOTE Not a miner Quady.)
"the Company has until January 4, 2024, to complete the negotiation process (on the exploitation agreement for the Cascabel project) with the establishment of a non-binding term sheet..."
"US$15,471,936 transaction costs (US$7,963,098 incurred by SolGold plc and US$7,508,838 incurred by Cornerstone Capital Resources)." So we only incurred half...
The "Finance costs" for the quarter ended 31 March 2023 of US$3,797,545 are a non-cash, or 'notional' item unless we withdraw from the NSR Financing...
Exploration costs during the previous 9 months were minimal at c$41k but interestingly relate to "the costs capitalised to date on concessions held within the Company’s four 100% owned subsidiaries in Ecuador that were relinquished during the quarter." I.e. we relinquished four concessions...
2,558m of drilling was completed at TAM in the three months ended 31 March 2023.
437m of drilling was completed at Moran in the three months ended 31 March 2023
"..field programs are continuing at Helipuerto with an initial focus on the delineation of the size and tenor of the new Tinkimints copper prospect....mapping and sampling the area directly south of Solaris’ Warintza copper-gold porphyry discovery that abuts SolGold’s Helipuerto concessions....Exploration completed in the area south-east of the Warintza South defined a new target named Juank"
There will be "follow-up drilling" at CGP's Bramaderos and "The Company (CGP) believes its 100% owned “Shyri NW” concession, the site of the Vetas Grandes prospect, has the potential to host a significant epithermal-style gold-silver deposit."
Cana Brava has a binding farm in agreement with Newcrest. "The Company has the right to earn a 100% interest in the Caña Brava project in return for cash option payments each 6 months..."
"Cornerstone acquired the Tioloma property in March 2017 for strategic purposes; the property wraps around three sides of the Caña Brava property..."
"Bella Maria borders the NE boundaries of Lumina Gold’s Greater Cangrejos concession (Cangrejos has an Indicated mineral resource of 568 million tonnes of 0.73 g/t AuEq, with 10.4 Moz and 1.4 Blbs Cu). Initial results indicate that the property has excellent potential for hosting significant gold and copper mineralization..."
"The Miocene property lies adjacent to Mirasol Resources Ltd.’s (“Mirasol”) Titan project. Cornerstone’s concessions are
located on an extension of the mineralized trend of the Titan Project and shares the same geology and surface indica
Thank you Redknight you posted something useful.
I was looking for the date for the exploitation license.
So either we are sold by then or we have to start construction.
As all financing will be required to be in place.
Part 2
"The Miocene property lies adjacent to Mirasol Resources Ltd.’s (“Mirasol”) Titan project. Cornerstone’s concessions are
located on an extension of the mineralized trend of the Titan Project and shares the same geology and surface indicators as the Titan project."
Cornerstone has an option and farm-in agreement with Newcrest.
"On 14 June 2016, Cornerstone announced that CESA entered into an agreement with ENAMI, Ecuador's state mining
company, creating a structure for ENAMI and CESA to prospect and explore for mineral projects in Ecuador using
Cornerstone's proprietary geological data base...On 6 March 2017, Cornerstone announced that on 3 March 2017 Ecuador's Ministry of Mining granted ENAMI eight concession titles in the Imbabura and Carchi provinces...In October 2018, Cornerstone completed an airborne magnetic and radiometric regional survey on its Espejo, Playa Rica and
Rio Magdalena Blocks, which are currently under ENAMI-CESA Strategic Alliance."
"Cornerstone has incurred expenditures in respect of the ENAMI-CESA Strategic Alliance totaling approximately CAD
$17,384,276 on 31 December 2022, all of which is exploration expenditures. Exploration work to date has consisted largely of geochemistry work (both soil and rock sample work), prospecting, and geological mapping, and on 18 June 2022, the Company issued a news release outlining strong rock sampling assay results which confirm the potential of Cu-Mo and Cu-Au porphyry targets."
It is understood that CGP/SOLG plan to continue exploration of the Espejo, Playa Rica and Rio Magdalena blocks.
They called a new target Juank? Have they hired Slug as regional project manager or something?
That is an unfortunate name considering how many words starting with Ju are pronounced in Latin American countries…. Apt even…
Let's have a 11,111 trade looks good on the books !!:):)
Let's have a 1,111 trade looks good on the books !!:):)
Oh look he's in his element about lasso ,you need reporting for your deogotory/ demeaning and abusive posts