Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Zeros, again you ignore facts and never listen, you just make it up. This has been said by NM and the mining minister, that no-one can build this faster than Solgold. It's not me that you should say this too. It's them.
Has been tough pretending to be nice all day, eh zoros? True colours come out yet again.
Tiger you will notice that there is an undercurrent of limited knowledge from some hardcore posters. There is absolutely no difference between a punter buying 'some' of solg one day and another bigger punter like Barrick buying an awful lot of solg in regard to ENSA. The punter(s|) (plural) inherit the ensa wrapper and all it entails each time they buy even 1 share.
Quady (I am sure he's a recording on a loop) will continue to say the opposite and other certain individuals will attempt to discredit you until you stop posting. This forum really is a vipers nest.
I love the suggestion that Nick and his (now) rather large BoD together with his 36 geologists and 600 local patrons can build a mine quicker than Barrick, the chinese, Rio or whoever. PMSL.
But notice how they even try to defend this.
I wonder why NM and the ecuadorian minister for funny walks say only SOLG can do it fastest - bo ll ox.
There was a time when this board was fresh and enthusiastic, now it's left with a handful of backslapping cronies who think they know everything incuding the future and refuse point blank to discuss things calmy or logically, or even discuss things!!
Pray to god that this stock does ignite and the forum becomes flooded with enthusiastic care free exhubernat newbies (who everyone hates) but who will hopefully drown out the sycophants who wallow in their own stew here in this currently very very lonely speck of the social media landscape
Zzzzzzzzzzzzzzzzzzzzzzzz
Tiger, that makes no difference.
It's a myth that BHP or any miner has teams of people just standing around capable of building mines, they dont...They don't build many mines from scratch. Indeed some years they won't build any!
Bh p tends to employee maybe 50 70% from contractors, the rest from the country they 're operating in...solg has far more EcuAdor employees than bhp.
Bhp Rio et c will still employee the likes of srk etc
Their day job is to operator mines not build them.!
Finance is not true...yes they can raise it but to spend it requires multiple sign off credit committee s etc. Big companies are bad at spending and paying, not because they don't have the money but because of process.
Hi Iceberg!
Perhaps because BHP (or any other major) could raise the finance to build the mine in about five minutes flat, and because they have people on staff who have built and operated similar mines in the past, and who are world experts at it?
Just a humble guess...
I don't understand why BHP could build it any quicker either, it might be they have a bit more clout in the long lag items, but the internal processes and vertical and horizontal leadership will counter this in spades.
Great point iceberg.
Don't have anything I can point to rcgl2, that's why I didn't want to answer the question. However this has been brought up in the past, but doesn't seem to be discussed much.
Tiger. If that is the case, it's not me that misunderstands that someone, can build this faster than Solgold.
It's NM and the minister responsible for mining, I suggest you correct them.
Tbtt the amount of disinformation has gone since your tried to stop posting......
'misinformation'. It's a bulletin board full of muppets (myself included) not international espionage
You don't seem to understand the difference between topcos and subsidiaries, Quady. (This comes through time and again in your posts).
Every day the owners of Solgold and Cornerstone change as their shares are traded openly in the public markets, yet the ENSA arrangement does not change. All that happens when a company (Solgold or Cornerstone) is taken over is that its shares change hands wholesale rather than retail. The topco continues to exist, and all its obligations and rights remain unaltered, including its relationship with subsidiaries like ENSA.
And, yes, of course a major would be much quicker in taking Alpala to production. To argue otherwise is simply perverse.
I'm trying not to post on this board as the amount of misinformation here is too much to fight. But sometimes it all gets too much...
What is the source for that? Where is it stated that ENSA will dissolve? My point is, a buyer can leave Solgold as is, with all of its existing governance and corporate structure etc in place. Solgold will still own ENSA. It's just one party will own a majority of Solgold, whereas currently no single entity owns/controls more than approx 20%.
Hi rcgl2, I hoped no one would ask that question, as I can only confirm my understanding. This stands on a technicality of ENSA.
Here we go.
Currently Solgold and CGP, do not own Alpala, they own a share in ENSA.
When the mine is built, and in production, ENSA is dissolved and all governance and permits pass to the holders and respective percentages of ENSA.
Hence, the governance is under ENSA, and anyone buying Solgold, would I understand pick up the permits, but would have to change their company governance, to comply with ENSA.
It's not straight forward, and time and cost involved.
That's too logical, rclg2. Not allowed to think outside the box. How dare you!
Z
*permits, not patents
Hi Quady - regarding licences, patents, government relations etc etc, what is to stop a third party just acquiring Solgold, taking it private, and continuing to run it as a wholly owned subsidiary? All the licences and permits seem to sit in ENSA, of which Solg is the majority shareholder and operator. Why couldn't someone buy Solg out, leave the existing corporate structures, governance practices, management team in place, but with a new C suite and board.
NM states that he wants Solgold to become the BHP of Ecuador. What if they actually just became BHP Ecuador?
How old is he now..64? It'll take him all of his reitrement to untangle himself from all his other businesses. I'm sure there is a non-exec slot he could fill to oversee his ecuadorian portfolio.
Anway, remember this: if you count one number per second, it will take 31 years to count to a bollion dollars!! Of course...he already knows this.....................
Z
Warren Buffet is 150 but he's still at it. I think that exploration is in NM's blood and I doubt he'll be able to stop. What's he going to do in retirement - twiddle his thumbs and take up gardening? Ecuador is the place to be - there is nowhere else in the world that offers such exploration upside, an untouched gem on the Andian copper belt.
Quady. What a stalwart. Perhaps you are the billionaire of 2030 I talked about??
Z
PS: will you be young enough to enjoy it though?
bought.
Correct if Barrick brought Solgold, they could not build it as fast. It's not about money resources and expertise. It's about governance and the delays that would happen. We don't just get a license and build it. It's the inspection regime that happens, and what's been agreed, and no this doesn't all carry across, if Solgold is brought.
Quady...I get where u are coming from. For a while I thought you were off on one as usual.
The 'time line' I was on about is the SP timeline. IE: A kick up the backside of this stock price not the timeline for building the mine by 2025.
Having said that and just for clarification, (a) WTF does the ecuadorian mining ministry know about the speed of building mines and (b) are you saying that a minnow that has become (in theory but not in practice) can build this mine faster than any major?
So let's assume for arguments sake that next week, Barrick buys solg out. Will Barrick not be able to build the mine faster than solg even though they have decades of experience and the wherewithall to do it?
[Not that I care - because as soon as this sp passes 50p....sayonara solg.]
Z
Zoros, your statement at 11.53 today, that you believe others can build this faster than Solgold. It's not true.
It was months ago, So this is why it's important to listen to as many as you can. This is about governance. Solgold had to change it's internal procedures, that would be applied across the whole company, as this was one of the restrictions, stopping us getting the water permits for ENSA. Any company first would have to delay Alpala, while a hostile takeover occurred. It would have to meet the governance of ENSA. The clock is ticking. The person representing Ecuador's government in mining, agreed on the webinar, that no one can build this faster than Solgold. Things are going as fast as they can, because of the trust, that has been built, between the two parties.