Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
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Thinking about it, I wonder why some of the main shareholders were opposed to Caldwell so early in his tenure? What had he/ the company said by that stage that upset them so much?
Perhaps somebody from Juangxi could be nominated for next CEO, that would really get up BHPs nose
That's one way of looking at it!
Scott knows full well he isn't or wasn't, backed by the majors when he came in... However.... Maybe they will actually vote for him to stay given he has overseen a large valuation drop... he's been a great asset for them
I would like some more colour on the renegotiation of the IPA, which I'd assumed would have landed prior to the exploitation agreement. Questions I would ask Scott:
1. What are the sticking points?
2. How hopeful are you of delivering this before the presential run off?
3. Should we expect a delay to the year-end timeline youve provided should it not be delivered before Ecuador has a new government?
I sill struggle to see anyone moving for SOLG or ENSA before the details of the new agreement are made public. Getting this over the line in September would be a welcome milestone.
Bozi, also bear in mind the AGM is looming on the near horizon. We know SC has his detractors, so you'd think he'd be anxious to deliver something before he faces the re-election vote.
SolGold seemingly cannot sell itself or the mine either if the first 9 months post merger have told us anything.
September / October will be crunch time for the company to tell us what it has agreed over the summer
Just had a look on trust a trader for block cave mining experts kicking about doing nothing. Couldn't find any.
This is not like building a bypass around a town or indeed a new town hall. It is an area of expertise that is niche and the skills are well accounted for. Solgold cannot and will not build a mine. Period.
Good afternoon DinnerMoney.
We are apparently favouring a decline, this could provide ore in 18 months.
We have no idea on costs yet but if under 1 billion, then even this will be staged.
After that we proceed to a full block cave using income from our first cut.
I believe this is possible.
There will be no detailed forward looking plan... it will be obfuscation
A detailed forward looking plan would raise questions regarding funding for such plans.... and they will certainly not just admit we are mothballed until further notice, in the MDA.
It's mainly summer drift. Check the chart for the last five years it's the case in point for "Sell in May and go away"
Will be back upwards end of this week and into next.
The SP is on its backside because of the political uncertainty plus the global media coverage of the violence.
However, major miners and oil companies operate in many unsafe or uncertain environments, e.g. Nigeria, DRC and until now much of South America was less secure and with a worse fiscal regime...
Having said that, the present situation is a Godsend for prospective buyers...
(Fast and smart Bob...?)
Cheers Fort, guys.
At work now, so going off line.
Cheers Fort. Cheque from Eloro is in the post.
Eloro, bb's are for speculation and some to talk their own book or vice versa.. it's only natural to see some posters that have sold out and want in cheaper to take a dim view of SOLG.
But the facts are there for all to see.
1. Alpala one of the greatest copper/gold discoveries in last decade. It's massive.
2. Markets will turn attention to copper when they have to ... which is when it suits them lol! You just have to look at nickel and other metals to see how one minute the market prices the at rock bottom levels and the next they are doing cartwheels higher.
3. Ecuador Gov do not sign key red tape issues like mine life and exploitation agreements without a very solid understanding of the value of those agreements and the status of the project and the interested parties involved.
4. The Rio/FQ La Granja JV is 'inferred resources'... eg very speculative and yet the numbers involved are still just shy of $700m for 55% stake. If that was on 'indicted' basis, my guess it would be double. You are looking at a relative level of around $3bln for Alpala.
SOLG are in fine shape. Noront were in fine shape too when the market priced them at 23 cents. You wouldn't know it looking at those beaten up share prices. But you the know the rest. Cartwheels in share price increase follow when bidders emerge.
As for Orpherncopper... loads of the usual baseless negativity from an apparent investor lol! You are about as invested in SOLG as low trawler or loganair by sounds of things. I wonder... are you the same person? Don't bother answering that.
1982, of course! Why didn't I think of that?! Genius!
Addicknt.....we could yet see £1.50 in a 10 for 1 share consolidation, then the printing presses are resumed to make more confetti shares!
Orthern sounds like the type of guy who could turn the milk sour by just looking at it.
This is actually great news, I've been complaining about short-termism for a while now. All the existing producers have been picked off and finally one of the super majors makes a move to address its looming shortage in the years towards the end of the decade.
Why didn't they take Cascabel? Well BHP has a foothold there so maybe it was too difficult. Or maybe they move on it as well as they focus heavily on copper?
Competitors won't want to be left behind, they'd better start addressing their shortages promptly too.
Good morning Ortherncopper, that has always been my point.
To use NM's words, we are not selling cheap.
So how do you get full or fair value.
Well one thing you don't do, is sell
This is a massive discovery with a short payback period even on the original 4.5 billion cost.
It's even better when it's 2.9 billion with marginally less ore in the early years.
So still looking to reduce initial outlay and cut an incline.
Which eventually turns into a full block cave.
My feeling is a JV is desirable, but other borrowing will be sought in order to keep the controlling interest in Solgold as a whole.
This is not like other JV's because the mineral wealth is massive compared to the outlay, so after all this time, we are not going to give it away.
I am also expecting news on some of our other tenements.
"gone are the days of...£1.50 a share" - yup, that's what dilution does for you.
It would be nice to think the dilution has been worth it and has driven value, but it hasn't.
They are having a realistic discussion from what I can see… with realistically cautious valuations, considering the difficulty surrounding Ecuador and our less than impressive performance over the last few years.
Gone are the days of the usual rampers claiming £1.50 a share… and admonishing anyone who dared to disagree…
Even Redknight has stopped his 20 posts a day, dream scenario ramps….
reality is setting in.
Another major announced they chose to JV elsewhere… you could ask why?
Any bid here would be no higher than 25 pence… and there is no rush or indication one is on its way…
turns out, we may have to be mine builders after all….
Hard to argue with Lowtrawler really.
Not many will admit it, but we're sort of near Hail Mary territory here.
Fort, what is your take on the scenarios painted by Loganair and Lowtrawler on the other BB?
They seem to think that we are wasting our time here, that any bid would barely keep us from going to the food bank!!
Certainly interesting when you look at miners in general. Many are down near covid 2020 levels as market seemingly disinterested in copper focused miners. First quantum's share price was $5 cd in 2020. Today, it's just shy of $35 cd. That's a 7 fold rise over last 3 years+.
Big projects with big capital going ahead which bodes well.
TI, you beat me to it. This is an interesting announcement.