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Of course it has...thats why I want it sorted ASAP...
Bloody autocorrect…
I agree, that is close to my expectations for PFS 2… inflation to balance out much of the potential improvement.
With regards to wider folio I actually disagree. There is actually not a lot of value if you remove, the still unproven Porvenir.. we just have plots of land.. nothing more. Until we have proven drill results, we just have potential farmland or jungle….
Too many people are too quick to try to prescribe values and discoveries to land where nothing has been found. Some on beers have even wrote we probably have multiple tier 1s in the bag…. Absolute bedroom fantasists.
In this instance I actually agree with analysts who constantly prescribe just a nominal value to the rest our folio..
Ortherncopper - I don't think the PFS2 update will be too exciting. It might just sustain the lower end IRR and help fend off inflation issues. Most buyers will be looking at the middle figure anyway as inflation issues will not be like they are today if Fed target rate is 2% on longer term goal. So PFS2 could add some spice to the middle and high end figures but do little to the low end. Ironically, I think it's the low end that they were keen to see move up but then inflation came bowling in post Putin and Covid and has scuppered that.
There's lot a value across the folio. The question I would be asking at the Strategic Review is this.... would it be better to IPO or sell ENSA and then seek to repeat process with other targets or would it be better to sell the lot.
Breaking SOLG up into neat M&A parcels might be the way to go. I get the feeling that Mather does not want to let go of the exploration opportunities and therefore might have agreed to flog ENSA but the bit that doesn't work with that is the fact that CGP have just exchanged their 15% ENSA stake for 20% SOLG shares. Porvenir will be of interest to NCM and Lundin imho. It's their kind of size. But what else could be bundled into that package which brings in more value?? Strategic review far from straight forward although that can be easily sorted by having a bid for the entire business land via a super major or Chinese entity. Then the decision becomes binary.
Solaris have had more success and we do have licence blocks near them so you never know... might be a JV coming up which sorts some exploration phases for us to chew on while broader sale process/discussions take up 2 or 3 months.
https://www.solarisresources.com/news/press-releases/solaris-outlines-broad-porphyry-deposit-in-first-follow-up-holes-at-warintza-west-discovery
We can I hope I guess.. it as I mentioned earlier, I find myself only interested in how the AGM plays out now… even the PFS update seems secondary right now
Orthern…. Maybe but I was told that, after the Rio debacle, they would in future wait for full assays from 4/5 holes before updating if we had anything….. so you may be right but you never know
If we had any results there worth releasing they would have been by now.. I’m sure we can can consider it a disappointment like LaHueca. It is what it is..
A nice little update from Moran still possible… resource still growing despite Darryl’s best efforts
RK, it wasn't too long ago (mere months) you were complaining about our shoddy corporate governance. Now you are cheerleading a NED essentially running the show.
I'm with you on Mather being the right man to get the best result for us PIs. But you've got to admit this is proper cowboy stuff at this stage.
Article in AFR today to go with the one posted earlier in the Australian. More of the same. This year has been a joke.
I agree Colonel...Lasso needs Cascabel to move forward soon...
Lunch...
For 'strategic review' read 'sale process' which is why Sangha (Maxit) a M&A specialist has got the gig for both comanies (i.e. for Solgold post merger...
And as for 'Solgold are rudderless"...nah...Nick's back at the helm...
Let's not forget that there is some ground to cover on the politics and mining cadestre. It would not surprise me one bit if Lasso have given SOLG a firm push in the right direction. We know that a number of concessions were relinquished last year. More will need to be handed back soon unless work commences. So there has been a ticking time clock this year and thus far nothing has materialised on the grass root discussions which were said to be advanced.
Lasso would benefit greatly from the PR should a major transaction take place on Ecuadorian soil. Thus far progress on opening Ecuador up to business (electoral pledge etc) has been slow and yes, Covid issues not helped but with about 2 years and 3 months left, Lasso will be keen to start inking some deals.
It suits all involved to see Alpala in the hands of someone with deep pockets as could accelerate the project. But it has to be at fair price. Lots of important folk out there want to see another Tier 1 copper/gold deposit come to market especially as shortages loom in 2026+.
Pleasure RK. Not sure. Depends on 1. Has he got any now? (Don't think so) 2. Whether he can keep going somehow in law until 1 December 2022. Also, there could have been some type of exit deal agreed with the Company to cover this. I wonder if any such agreement is available to shareholders? Clear as mud at the moment RK!
Hi Red …. Not sure he hasn’t always been
Things could move quickly now depending on how many pieces are already in place
Thanks for that Rodney...so in short he will get his payday...
And while he may have 6 months notice in his contract he had been there less than a year...
Nick will be rubbing his hands with glee...hes back in the driving seat...
Good post magoo...thats why we bought another 300k plus first thing...
I have to admit, I can’t remember any year where the build up to the Agm was so utterly intriguing.. last year I wanted them all out.. for a shockingly poor previous 12 months.
This year, well it’s just a madhouse.. I find myself more interested in how the AGM will unfold than I am in the Porv or PFS update.. which as another poster suggested, could very easily be delayed.. Solg have always been incapable of meeting a schedule for a variety of reasons.
One thing is for sure, we will not get any clear, quality explanation of unfolding events, as our communication is and has been for years, just appalling.
Colonel...you post a lot of good stuff...don't get arrogant please...
How many shares will Irwin own in SOLG once the merger is complete?
Grundles... it simply said "Sale of SolGold" at 4.20am
Rogue...PIs own 20% of the shares pre merger...
They're the ones doing the selling because they don't understand whats really going on...
But the smart money does...and they're buying...
RK, no I'm highlighting that he was responding to a direct question that was totally unrelated to Darry's departure. The tweet and today's RNS are not linked. Have a read for yourself. In fact, it may well have been TheItalian of this parish that he was responding to:
https://twitter.com/TheItal81490451/status/1589866786325135363
Hi Redknight, did they now! I think some dilution has occurred since. But if I were someone like BHP looking to cause some cracks among the new CGP/SOLG love in.... I'd be chucking an offer out there around the 42p level. I don't think that would fly (although some on here would bite their hand off) but moving up from there (usually only two upped bid offer moves at best) you might see 50p next and then a period of sweating it assuming no counter offers come in.
BHP still have Oz Minerals deal in play and the outcome unknown but Oz minerals share price has been slipping below the offer price. Drifting. That tests nerves. BHP have already stretched that out over 3 months. If they made a dart for SOLG, OZ mineral shareholders might think BHP have decided to leave them on shelf and take SOLG??? It can be spun both ways of course. You never know... BHP M&A team might be waiting on the outcome of Oz Minerals before making a play for SOLG?? What we do know is that BHP have been active. First Noront and now Oz Minerals. Zero success thus far. Meanwhile Wyloo have been lapping things up and Twiggy now formally retuned to the Fortescue roost looking to impress his mark again.
All happening and understandably as metal prices and miners should be back in favour once China confirms full reopening. That might be couple of months away. Or post winter. Inflation drops next year too. So at present - the market is nervously looking at the usual bonus induced ride into xmas followed by the usual sell off in Jan/Feb. But March/April/May begins to look much much better for markets imho.
BHP's window of opportunity may well close in 4 to 5months time.