Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
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Good morning Addicknt, I was on a boat actually, fishing the Atlantic. Good to see that your present this morning...... well, there's no surprise there! ;-)
Have a good day matey.
Good one copper! Definitely for the record book. Perhaps you've been spending too much time dreaming on the riverbank. And if fishing is 'living life...' Still, each to their own.
Good morning RK.......well, for starters I do have a life away from here! Secondly, I have been more correct than a lot of people here that spout "a sale is imminent" tosh. Has there been any sign of a sale in the last two years?............No there hasn't, cos there's not gonna be one! Time to get my fishing gear cleaned and stored away. Hope you enjoy your full shift in here today matey, I've got a few mundane things (like life) to crack on with!
Oh dear copper...you're back to post that...I presume you're being ironic...
In agreement Copperpot, the strategic review will give us our options and way to go,
Mine construction will be with us before we know it! Let's get another 12 month down the line and everyone's thoughts will be totally different! All this "a sale is imminent" mullarkey has ceased thankfully. That rubbish has been going on for two years, mine construction will happen within 2 years and everyone will be praising Nick, DC and the team. The share price will be around the 75p mark, and all those that wanted (but didn't get) a quick sale will be well gone. The long termers will get their just rewards eventually!
Not forgetting open pit first! Lovely RNS yesterday by the way.....only just seen it.
GLA.
Morning all. Great RNS, I like how this is all panning out . Only going one way IMO. More M and A activity will be anounced by year end!!
GLA
DK
Sorry posted wrong link use this one - relevant text "Unlike streaming agreements which contemplate the sale and purchase of precious metals, offtake deals are typically used in connection with base metals, which have a more complex and lengthy supply chain involving bulk transport and refining."
https://www.canadianminingjournal.com/featured-article/offtake-agreements-and-financing-mine-projects/#:~:text=Unlike%20streaming%20agreements%20which%20contemplate,involving%20bulk%20transport%20and%20refining.
Fort / SM - sorry to split hairs, but offtake and streaming are considered different. I spoke to IR some time back and they informed that BHP and others also do offtake deals and are not adverse to them. These are generally done after DFS (Such as Bolinden). They are more against royalty deals. Please see a good article...
https://seekingalpha.com/article/2561245-royalties-vs-streams
Up 8% to a 5 month high of $3.68and the volumnes are creeping up...
Is the next shoe ready to drop...?
Sleep well
"a crap shoot in Ecuador"
I think I'll go with Franco's, Boliden's, Mitsui's and recently Osisko's view of the 'crap shoot in Ecuador' You better tell Norges and Blackrock too. Not to mention Fortescue... second largest block holder in the region.
I think you've nailed your colours to the mast on that one Sharketmare.
Now... how many times to I have to tell you to sell GGP and buy SOLG??
Like I said, happy to hold my hands up and say I called it wrong. What's amusing is the post of mine you highlighted was in response to you claiming Boliden offered SOLG $100m. Truth is none of us have any idea what is going on here.
If you think a crap shoot in Ecuador is a better investment than a fully funded route to cash and production in Australia, that's your call.
Slam dunk CD , there is no credible answer to that one
sharketmare, I luckily dumped GGP with small profit at 9.1p after buying bulk at 8.5p. I thought SOLG offered a better investment after it dipped to 15p, I couldn't resist adding further. I can't see GGP going much higher than 12p or 13p. Whereas I can see SOLG doing cartwheels to 50p+ and beyond.
GGP's have 30% of the asset. They gave away 70%. Since then, they have given away a further 14.7% to Wyloo (assuming the exercise the warrants/options). In return they effectively gave away 15% of GGP for £70m. In contrast, SOLG have 100% of ENSA (a proper tier 1 prospect) and have raised $150m over last 18 months based on royalty deal. You are right, there is no comparison at all and SOLG wins hands down as the better investment.
I'll leave you with one of your insightful posts to me some weeks ago... how many times do you need to tell me sharketmare?? And what happened to your $30m raised at 17p??
You'll learn.
"SharketMare
Posted in: SOLG
Posts: 1,054
Price: 16.34
No Opinion
RE: Are we27 Sep 2022 11:06
Fort, on August 5th our CEO said in print that he was not considering offtake agreements until the DFS is published. I don't know how many times this needs to be repeated before you stop claiming that SOLG presented an option to BHP and NCM that involved $100m from Boliden." END
Wow have a read that correctly ...Quady saying easier now to sell or j/v solgold ??, entire entity will be owned by one person Quady even though the book is spread their will be only one conglomerate owning solgold imho in a deal with one smelter company
"Just look at GGP deal with Wyloo. Not a good deal at all when you compare it to what SOLG have achieved. That's $150m raised by SOLG without any equity dilution and a minor drop in royalty income on the asset as a whole."
Apples and oranges, but still a silly comment nonetheless. What's your schtick with GGP? A few weeks ago you told us all you bought in, did you take 10% and sell out? GGP was massively overvalued and in a highly precarious position. Having given away 70% of Hav as part of the JV, it would have been crazy for them to start selling off the profits from their remaining 30%. Instead they secured funding to production (2024 vs 2029+) and secured 3 superstars on their BOD.
My money feels a lot safer there than it does here. Though the upside here is much higher.
Today's deal is a decent enough for result for SOLG, and yes I hold my hands up and admit I called it wrong, as I took Darryl at face when he stated that royalty deals were off the table until we got to DFS (a timely reminder that anything this company says is all one big game of smoke and mirrors). I wonder whether he wanted to sow up the deal with CGP (and in return a few more votes at the AGM) before announcing funding that is invariably going to irk BHP and NCM. Interesting to see how they both play it during the run up this year.
This deal is slightly different in so much that it's $50m and not $100m. I can't argue with your views on CGP re the last royalty deal but in terms of being a poor deal that's where it ends. Apart from NCM and BHP throwing toys out of the pram, just about everyone else was overjoyed with the $100m and lack of equity dilution. Today, Mather and team have delivered another great royalty deal at a time when capital raises are tough. Just look at GGP deal with Wyloo. Not a good deal at all when you compare it to what SOLG have achieved. That's $150m raised by SOLG without any equity dilution and a minor drop in royalty income on the asset as a whole.
BNC... I hear you... but there is a price for those 20%+ CGP votes (post merger) at the AGM. Had CGP sided with NCM and BHP this time around, I think the AGM would have been ugly for us smaller shareholders. Instead, we now look much much stronger, fully funded and BHP and NCM can't do squat. That's taking the company back into our CONTROL.
It's terrific news and anyone that thinks equity dilution is better than a royalty deal needs their head checking... Orthernkeeper... what are you on??? Shareholders crying out for monetisation and SOLG delivers again.
I'm over the moon and looking forward to see what BHP do next. The AGM disruption ploy is a no go now. They have one option left... make a bid, or discuss a ENSA deal or just watch from the sidelines and see the royalties/streamers gaining more and more chunks.
Now, what about Mitsui?? Are they lined up next in 6 months time?
Addicknt you are partially correct, I now agree a sale of Cascabel or JV is easier once we own 100% of ENSA.
But to sell Solgold as an entity just got harder as the book is more diverse.
To be fair Quady please buy us is not something
Any good salesman would ever say
Jerry all those things have been mentioned this year.
Also when is the last time Solgold has said please buy us.
I don't think I have heard that one.
Hh is a difrent class can we all agree to share and be difrent going forward (I dout it )
CGP shares trading near June 22 levels now. On a comparable basis and like for like on time frames (June 22) SOLG were trading at 35p.
We've practically added 15% of the market cap today with the royalty deal based on just 0.6% lifetime metal sales.
The market was waiting on the fund raise. The market got news of the $50m raised but the market didn't get a slice. Poor old market. Now the market has to buy in the OPEN market.
Shame!
Well done Mather and team. Another victory for the little guy.
Solgolds path maybe to production however (fingers crossed) we’ll be brought out before then.Otherwise N.M. Will be the Hugh Hefner of the mining world
lol I have just been reading a big spiel by NM about how Solgold are going to take Cascabel and many other tenements to production over the next few decades and I believe they will be taken over..just thought it was funny reading your comment Jerry as I was going to post how many projects Nick had been involved in and none had gone to production but hey ho clearly things are afoot one way or the other
hi max
couldnt agree more matey
however when NM did the deal with franco for similar funding arrangements the world and his wife jumped all over NM for doing such a stupid deal..........
slated by NCM BHP CGP and anyone and everyone who wanted to sl-ag him off
move on a couple of years and we have the same/similar deal..........and it's welcomed by those that previously sla-gg-ed off such a deal................... turncoats n bill shutters all of em!!!
cant see NCM nor BHP welcoming this latest news...............
but I'm with you max - fk em!!!
bn.c