Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
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NMM, you are correct, SOLG run from june to june for some god unknown reason! Do TSX rules require them to ensure/prove 6 months cash on forward work programme basis? Hence, when's the next MD&A? 15th May looks latest for 3rd Q/ MD&A but as we all know... fiance from some form needed well before then.
Add, I will say that Scott is doing a great job when the SP is back to where it was when he took over. I can't bring myself to praise the man who overseen the decimation of the SP. I want to have the option to at least get my money back.
I will say however that things have started to move in the right direction.
Regional news = sale of porvenir + update re anything of substance covering exploration
JWB, only a week os so ago you were on here trashing the share and telling us we're all idiots. Now you pop up ramping some other share on this and multiple other boards. Do you mind if I ignore you?
The following will arrive before end of March 2024:
- Alpala technical report
- Regional news
- Exploitation agreement
- Funding
The Chinese would have a hard-on seeing Scott sitting next to Noboa yesterday. They also have unlimited amounts of cash at their disposal - would they pay £3B to acquire Solgold? YESSSSSSSSSSSSSS
A group (or several) has provided a conditional commitment to Solgold for the $3,2B funding. Jiangxi friendly arrived on our Board 10 days ago.
We have two months cash to cover admin costs so news re project financing is imminent - my guess is that SP will hit 12p tomorrow and 20p by next Wednesday.
Worth keeping an eye on CEG after their world class deal with Chevron. They retain 40% and see material cash inflows. Will explode later
Good luck here
Fort, re: "2. Full year results accounts sign off before March 31st "
I've flagged before - SOLG reporting year is June to June.
The end-Dec results were included in the Interim report/MD&A in mid-Feb. No audit sign-off.
Only the full year - June to June - results are audited. These are released towards end of Sep each year...
... usually in an RNS titled "Audited Full Year Results"
Exactly, Fort. Noboa signed only after having seen evidence of the plan unfolding and after having received precise reassurances on the funding. He can't afford to mess this up, his country can't afford it. And certainly the chinese or whoever is behind the scenes won't let this opportunity slip away. Shame they started to put the ducks in line with the SP at 6p and not at 20p or more..
Ortherncopper - my thoughts exactly.
Praise Scott when we are over the finish line. 40p+ share price due to sale/partial sale/JV etc.
He has trashed the SP so we are celebrating 6p-7p rises. I'm sure there would have been ways of delivering a revised PFS and obtaining IPA without ruining the SP and giving the market so much uncertainty over last 12 months.
Don't get me started on the lack of comms and engagement with PIs.
Anyhow, today's news to me means the finish line could be in sight shortly. Then Scott will get my thanks and he can enjoy his $m in options.
Fort
cheers fella
appreciated
How much cash is in the coffers?
I haven't seen a raise for a while.
That seems imminent and inevitable, despite the good news
Schlemiel, absolutely... super majors want the red tape sorted before they step into the ring as it often costs them much more when they initiate it simply because of their known deep pockets.
As mentioned in my last post, it's the 'exploitation agreement' execution which matters as well as it locks in the legals and other stuff on social and environmentals.
I think SOLG need the tailings / land acquisitions finalised before they can execute it. SOLG can execute the agreement anytime after the Dec 6th 2023 signing. But they only have 6 months to do it in. Hence... it's coming very soon.
When you throw in the recent Chinese appointment of non exec... I think the story is being laid out loud and clear.
The technical report has filing date of March 31st but again, I think you'll probably see that very soon too because they CANT do any insider / finance raising without issuing that to the market first for obvious reasons. So we might get Technical report very soon followed by finance deal followed by land purchases followed by execution of exploitation agreement followed by .... Sale or monetisation event... and all before early May in theory!
Fort in summary, apart from the exploration agreement, lots of news THIS MONTH.
Add
cheers fella
Fort ….. maybe a little bonus or two thrown in along the way
Blanca ??
Exploitation phase and execution of that before May 6th is the final lock in process.
So we have the following lined up in next 8 weeks in no particular order
1. Technical report - due before April 1st.
2. Full year results accounts sign off before March 31st
3. Exploitation agreement 'executed' before May 6th
4. A funding solution to keep lights or or some monetisation event (before March 31st due to accounts sign off I believe)
5. Directors awarding themselves more bonus shares... they never miss a deadline on that one lol!
Strap yourselves in then... after 18months of zero progress... Bob and co suddenly seem motivated to deliver. Lets hope they don't issue 157m shares to their buddies at a low sp price as that really will stink a bit. I'm expecting it and have been for a while, but part of me is hoping Maxit and co are bigger and better than that.
Schlem, it removes one of the hurdles and should provide more confidence for interested parties.
Does this agreement increase the possibility of a takeover?
Locks away some of the political uncertainty
'84, absolutely right. All of the catalysts are gradually being put in place and are designed to allow us to describe the project to interested parties as being 'turnkey'. That's the aim, and SC is making good progress.
I did say a while back that this guy is motivated big time as he has a year to prove himself in what will be a catwalk for next Feb elections. He'll want Ecuador's largest ever mining investment to be looking nicely advanced ... that's for sure.
Equally... it won't want egg on his face. It won't look good on him if he's signed a big mining deal only to see it going no where fast. So logic says... he must have discussed finance or seen sight of finance plan before agreeing to IPA. There's no reason for him to agree to the IPA unless it is required prior to finance. So as BBG says... the finance package deal or 'intent to finance' letter of intent etc etc will be in place. So question is... is this the long awaited sale or the first domino to fall that draws all the buyers on sidelines to the table??
SOLG shareholders need it... Mather most certainly needs it. Bob feo needs it. Noboa absolutely needs it. China need it. And... a few others out there really need a Tier1 asset to drive growth forwards over next 10 to 20 years+.
On that basis... it will get built and Franco inc Osisko knew that long ago. But a few on here seem to have doubted it.
Can’t agree to spend $3.2bn unless they give us an exploitation agreement too
Catalysts continue to appear
By Trump: Super Tuesday, CIPA signed and delivered,
Yes indeed dbw exciting times again hopefully
Yes... wildtiger trying to get back in lol!