Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
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Give it a rest ,that’s the 3rd time in the last week you’ve posted that 💩
Agreed Red ….. just got to hang in there a while longer
All the while Ecuador continues to cozy up with China
“Other countries in South America are intent on reaping the benefits of closer economic ties with China. Last January, Brazilian President Luiz Inácio Lula da Silva voiced his support for a prospective trade agreement between China and Mercosur, the trade bloc that also includes Uruguay, Argentina, and Paraguay. While talks for such an agreement have not started yet (and for a variety of reasons, including a lack of progress in implementing the bloc’s deal with the European Union, Paraguay’s non‐existent diplomatic relations with China and continued recognition of Taiwan, and the region’s ongoing de‐industrialization, may not materialize in the foreseeable future) the motivation for Brazil and other South American countries to enter into agreements with Beijing is clear: the region’s total trade with China has grown faster than trade with the United States in recent years. Moreover, China has already negotiated agreements with Chile, Peru, and most recently Ecuador”
https://www.cato.org/blog/china-fills-trade-void-us-international-economic-leadership-retreats
Yes DBW...and copper breaking out sharply at $3.77...
Even under the old PFS2 those numbers that Argonaut quotes produce:
$1.12 BILLION a year Gross Revenues from copper and
$705 MILLION from copper
Totalling $1.825 BILLION A YEAR!!
SOLG current MCap is $338 MILLION....
All the doommongering on here suddenly seems a tad irrelevant...
Cheers as usual
There 2 schools a thought regarding Ecuador gov. Firstly... SOLG may well get all loose ends signed off by Lasso before he leaves on Nov 25th. But ironically... one has to question the impetus for Lasso and old gov to get this done. Why not just leave it to the new man? I'm sure Noboa would be delighted to be announcing a big deal in mining sector just weeks or days into his tenure. That said... he might want to tread softly on mining until he gets his feet under the table.
So who knows, but change in political powers clearly has or can hinder talks.
I have Darren and have many happy memories of visiting the region around Quito and white water rafting...and of course the Galapagos...
SM...do you really think the Govt won't take account of the 3 years in Ecuador lost to COVID...?
Or the prospective anger of BHP, Newmont and Jiangxi if their investment was lost?
Let alone the egg on face from the constant Goverment trumpeting of Cascabel...
*However, a raise doesn’t tally with your open positions
NAL, I just find it ironic that someone who is clearly illiterate has the temerity to label other posters as idiots, and clowns!! Not to mention your boasting about how clever you have been at investing. If I was as educationally disadvantaged such as your good self, I would post with more humility, not boastful with abusive name calling. I don't want to know your history NAL, and whatever it is, you won't elicit any sympathy from me.
What is the "whopping $67m spend Talatum" please?
You really are a clown, if you had sold out and were trying to get back in, as opposed to T trading, you’d be praising 1984.
1984 is right the money has been spent and looks as if they will carry on spending it.
They have said they’ll run out of cash mid way through next year and intend to raise prior to that.
However a raise when you have outstanding t 20s doesn’t tally with info hence you are criticising 1984 for highlight facts…..
You are such an odious ramper………
Oops...hit the post button too early, but...
The total of those two items is $4,325,230 and accounts for 71% of the:
"Acquisition and addition of exploration and evaluation assets (6,084,863) "
I suspect the Ecuador Exploration is either/or former CGP projects, such as Bramadero and/or the 'regional' projects, many of which are up for sale, J?V or otherwise exploitation...
And of course setting up and managing a 'data room' and site visits cost money to run or support...
But the MD&A tells us clearly that money was spent on:
ey
activities during the quarter include:
• Metallurgical test work
• Updating interpretation of 3D geological, veining, alteration, geotechnical and
metallurgical models
• Updating the Mineral Resource Estimation MRE#4
LIDAR survey over the planned infrastructure outside the Cascabel concession, including the
transmission line, pipeline, and tailing facility. The LIDAR flight is completed
So in conclusion, it looks to me as if:
1 A great deal of money has been wasted in previous periods
2 A great deal of advanced work has already taken place to prepare for PFS3 and indeed for any sale of SOLG/Cascabel and investment/sale of any or all of the other 90+projects.
1984...you too are one of the more intelligent posters on here.
Have you actually read the MD^A and Quarterly Report.
The cash Operating Costs for THREE MONTHS were $3.281 million...thats just over $1 million a month.
At that rate the cash would last at least until April 2025...yes 2025...
A quick look at the Cashflow statement would have shown you this item:
Acquisition and addition of exploration and evaluation assets (6,084,863)
And for those who think nothing has been done about PFS3...first, the information is only up to 30 September and work was already underwya by then, viz the 'Highlight':
"Advanced work on the revised pre-feasibility study, which envisions a phased development approach of the Cascabel
Project, with the primary objective of the study reducing the initial capital required to commence operations"
Then there is this sentence:
"Net cash outlay during the three months ended 30 September 2023 was $9.6 million, compared to $14.4 million in the
comparative period of 2022, driven by reductions in overheads and focused expenditures on exploration and evaluation."
And
"During the three months ended 30 September 2023, the Company continued work and vendor engagements to produce a revised pre-feasibility study..."
As I posted yesterday..."the capitalised expenditures on exploration and evaluations" includes: in the quarter
Cascabel 3,042,767 and
Ecuador Exploration 1,282,463
Eloro. Just one small point, with your constant need to address my lack of education.
You know nothing about my history.
You. Know nothing about why I'm not very well educated.
Yet because I've shown you as a small minded fantasist, who is so far out of his depth on this board, that you have to make up more and more outrageous posts to let you feel important.
Your only defence to your embarrassment is to point my there's and theirs out.
Says much more about you than me.
Suffice to say, I really don't give to much worry to my spelling, as I could have lessons if it did.
I'm not sure lessons would help you with your constant need to impress by making things up.
Anon...you are not filtered because I am happy in general to give you the benefit of the doubt.
But when you post nonsense like this, I question your judgement or whether indeed you are invested here...
""2024. Management intends to raise financing prior to June 2024 in order to maintain a strong cash position..."
So no sale in 24 H1 then, that tells me. In fact, probably no nothing is my guess. "
Why not pause and reflect before postingsuch nonsense?
SOLG has absolutely no control over whether any company will bid for them, so their statement does not in any way imply n o sale.
It is designed to put at ease all the people including some on here that have suggested SOLG will run out of cash...or is another SXX...
We have $22.9m cash.
We are burning $9m a quarter....or less, when you take out the non-operational cash burn last quarter, because Scott has stripped out unnecessary expenditure. Even at $9m that takes us to April at least, but he has stated categorically on more than one occasion that we have enough cash until June 2024 at least.
And in addition we have the former CGP SOLG shares. Even at this price us into Q4 2024.
So please think twice.
The Strategic Review will be completed by end Q1 2024.
It is clear beyond doubt that the end goal is a sale of Cascabel or more likely SOLG.
The PFS will be completed by end Q1 2024.
I expect a material drop in costs and, based on higher metals prices, a material increase in revenues, NPV and IRR.
My current thinking is that the final deal to buy SOLG will involve us keeping most if not all of the non Cascabel projects.
That would include Bramadero, but may not include Porvenir, Rio Amarillo and Helipuerto, depending on the ultimate buyer's interest in gold, as opposed to copper as the primary draw.
Reminds me of a saying...
“Great minds discuss ideas; average minds discuss events; small minds discuss people”
Quady, you really have lost the plot.
I don't care if telsa is 1984 or not. If there one and the same, who cares.
If theyre not one and the same who cares.
Either way, their posts show you for the fool you are.
There is a paranoia on this board about multi aliases.
Thear are more things for me to worry about than your ramblings quady, thir really is. So ther.
Morning all. Ive jusst added, crazy sub 10 still ! Close to the the end of reighn of Lassso and close to Agm, I am hoping for good news in next few weeks
GLA
DK
Thank you Tesla.
You are correct a number of poster's on here don't understand how to do the numbers.
They are the ones that tell you they do.
Also quick message for Seanhunter in case he hasn't worked it out yet.
I have given him long enough.
We have a poster on ADVFN saying Tesla is Slug.
This person is an idiot and is in fact Needalife.
Take no notice Seanhunter he is winding you up and trying to get me to believe Tesla is Slug.
I know he's not for a number of reasons.
Tesla, I am not so sure. NAL is sounding more and more like a Chinese person whose English is at the kindergarten level. I really find it hard to accept that a person raised within an English speaking country cannot write a legible post in English! Could NAL be a Jiangxi plant?!
Quady
A lot of the rampers refuse to accept the economics of what is really going on and get quite nasty towards your posts.
Solg are partly to blame though, as they are promoting one thing whilst not really nailing their colours to the mast as to which way they’ll go, or is it just big investors misleading PIs in the hope of getting out with a profit……….
Agreed Italian.
That's why I keep bringing up the cut off grade for MRE 3
0.16% was ridiculous and I don't think the majority of people on here understand that.
Certainly Redknight, colonelDrake and DBW were clueless as they were abusive towards me.
Or maybe that's just who they are and are constantly abusive to anyone who questions them.
If everyone remembers MRE 1 was 0.3%
MRE 2 was 0.2% which is when I first questioned what was going on.
I await MRE 4 but we need to publish what is economic to mine and at what level.
Cut-off grade is perhaps the simplest way to understand the economics of large, low grade mining operations. This is the grade above which a particular mine is profitable. Freeport-McMoRan Copper & Gold Inc. is the world’s largest, listed copper producer. It has operations in the America’s, Indonesia and Africa. It also happens to mine some of the lowest copper grades in the world.
Cut-off grade depends, inter alia, upon the processing method used. Freeport uses three processing methods at its open pit operations in the Americas. Milling, crushed or agitation leach, and run of mine (ROM) leach. The lowest cut-off grade for milling is 0.18% copper equivalent, for crushed leach 0.12% and for ROM leach 0.05%.
From: https://marketcap.com.au/large-low-grade-copper-gold-deposits-how-low-can-grade-go/
Aussie dollars would give £2.1bln or about 70p a share.
Majority of brokers have fair value or target prices of near 70p.
So surprise at price tag. But if it's US dollars then £3bln or £1 a share looks a tall ask in this market.