Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
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Highest bidder fits slug, but Irwin likely wouldn’t have bit his tongue to stop himself saying “highest bidder”
Strategic Review a smokescreen....sold well before then as hinted by Irwin
Lol QP …. Took the words right out of my mouth…. Clearly Irwin hasn’t read the script.
Eish … thanks
Good point re the highest bidder....captain hold her steady I think she is going to blow
Padmaster, yes....'sell it to the'....chinese seems a good fit
“We’re trying to sell it now to the ….. er I can’t say who it is”.
What is naturally followed by “the”?
Not BHP or a name of a company.
Chinese?
Wonder whether the 'it' refers to the discovery (Cascabel) or the company. Either way, we are hopefully very close to news that will transform the share price. Less miffed at my top up at 13.9p on Friday now.
About to sell it.... mmm I think Warren knows more than most!
I thought he was about to say 'Indian's' or Indonesians.
They appear more advanced than the markets thinks at present.
Big difference between 'Trying to sell' and 'Selling it'. So let's see how they go but would not rule out an update with the SR stating multiple interested parties and advanced stage.
Great find. He seems a bit slow or possibly whisky'd up??
Excellent work Eish. There we have it, the strongest evidence to date that the plan is to sell the company. He speaks like a man who is highly confident of getting a return on his investment.
Warren Irwin mentions wanting to sell Solgold at 13minute 40 seconds or so.
Copper's other considerations to rapidly increase the deficit are:
Urbanisation of 200 million Indians soon requiring electrification/Urbanaisation.
Rebuilding of Ukraine after the war is over (hopefully soon!).
Obviously much more electrification, EV's with the Green Movement world wide.
With a current deficit and it taking at least 10 years to develop a Copper deposit, we will put further pressure on Cu supplies.
The Military Use of Copper to re-supply armaments is going to affect the deficit, for sure!
Makes me wonder if we - Solgold - are not in a much better position than we think?
Interesting that there are (licence/red tape) problems even in the Arizona, Alaska etc to get streamline Copper Mines
Wonder what our CEO will say at the next presentation OR are we going to get a stream of good news this next week already?
Warren Irvine on this panel who almost said who we are selling to! Almost, Ha, ha!!!
https://www.youtube.com/watch?v=K1lUPzaXkpo
Not £1.32 or 55p by Friday that's for sure. I'd settle for the steady eddie 16 to 18p range again from last November-December right now. Jesus, and to think we hut 41p last April! #eyeroll
What price we gonna see next week then anyone?
Ortherncopper
I would look to other small caps like solaris and Sunstone etc and see how their market caps fair. Of course you'd have to weight up their assets/progress and balance that out with proven monetisation. Hence my post regarding cabs of the rank. If the market sees evidence of the business model working... explore... derisk/prove up and then sell etc, it will begin to forward price new discoveries/exploration successes. Remember, it wasn't that long ago that the market was doing cartwheels based on 1 hole drilled on Porvenir. The move was around 28p to 43p in a few days I believe. Soon fizzled out but that's markets for you.
I think it's unfair to assume Porvenir is poor. Nearly every mine out there right now is 'poor' based on inflation pressures. These will ease throughout 2023. So I see the delays on Porvenir as sensible. Far wiser and better to get a PEA done on that when inflation numbers are half what they are today. And let's be real here... inflation numbers as they are are right now are misleading and not useful for a PEA.
IMHO SOLG were on track around May/June 2022 but surging inflation basically wiped out any benefits that PFS2 add ons could deliver. So, lots of work and money spent and advancing it but not good backdrop to rewrite the PFS. That said, when inflation drops those Tandy bolt ons and benefits of 2022 work will be very nice indeed.
Ensa sold would give all shareholders (potentially) a modest dividend and leave plenty of money in the kitty to push on with proving up some other potential targets….. if the deal is right that may well be the route they take , they may also get shot of the lot.
as far as a sale of Cascabel goes I don’t think the DFS is needed, most will know all they have to know already and plenty will be reviewing.
Extraction/exploitation license would add value immediately…… like selling land with potential for planning or full planning permission ( very simplistic I know) good luck all interesting times ahead
Morning fort… it all sounds nice, and obviously we would all like this to happen.. starting with a sale of Ensa at circa 50p…. But how did you get to valuing the new company at circa 150-200 million.. right now, the regionals are only given a nominal value… including Porvenir… who’s PEA was just canned, presumably because of poor figures after a promising start…
Ortherncopper,
I think the company has already alluded to the fact that the concessions/licences will be reduced with focus on the most attractive or regionally important etc.
I think you have to look at the exploration company as a NewCo (like sharketMare mentions). It then becomes more aligned to something like Sunstone or Solaris. CGP have a track record or farming out licence blocks early stage and retaining a free carry eg Bramados and as we know 15% ENSA.
I very much doubt the NewCo will follow the old company ways of financing through equity raises. So I guess if I said to you here's the following... would you invest... what would you say or could you find a better small cap with better opportunities??
Here's the NewCo credentials (minus ENSA which hopefully is sold for 50p+ and return to current shareholders.
1. Porvenir (to be sold or JV'd or bundled in with package see point 4??)
2. 10 high priority Alpala look a like targets (some retained on 100% basis, others partnered.
3. 15 farmed out or JV deals on grass roots
4. 15 Licences either sold as a package or part of JV in
5. 15 to 20 licences to be relinquished.
Personally, I would invest in that NewCo as market cap likely to be around $150m to $200m due to Porvenir and high impact targets etc but clearly has potential till to grow to $900+ on any major discovery within a 2 year period. So possible 3 to 4 bagger with some dilution along the way for usual Admin salary costs etc.
Also - What I would really like to see is an RNS that drops into mail boxes that says ENSA sale done for XXp and funds to be distributed to shareholders ON THE REGISTER as of DATE on prior day. Thus that excludes all those sitting on the fence, all those that bailed or reduced and rewards the long term holders for .... holding.
Now CGP have their SOLG shares, I wouldn't rule that out.
Let's get ENSA sold and then I think you'll have less to worry about and more to look forward to.
Beyond.. not behind
When it comes to the idea of a new company spun out, that has all the regionals in it… people seem to forget, or ignore, or not take in to account, the circa 450 million dollars of spending commitments that are contractually attached to these tenements…. Any company spun out, immediately inherits those same financial commitments.. and those tenements already have, use them or lose them, time limitations on them..
Our managements years of endless dawdling and feet dragging has consequences behind just Cascabel.
Some good posts on this thread - agree that a NewCo with our portfolio ex Cascabel would be an attractive junior explorer play.
Thinking back to the financing for next year to be announced in H1 in connection with the SR.. I wonder if the sale of ENSA is what is being alluded to here, e.g. some of the proceeds returned to shareholders and some used for exploration.
Quadpiece, such an honest opinion at 16H28 today. Appreciated!
Not the old Slug, LOL!
Colonel, I DO like your optimism and believe your expectations are realistic, After-all, we already have a Tier One. plus Pornevir and possibly more? We had world renowned Geologists who had already identified tenements with potential, in great strategic positions on the spine of the precious metal rich Andes. Just look at the miriad of deposits (Au, Ag or Cu) and mines from Punta Arenas through to Columbia and northwards!
Hopeful, or am I clutching at straws that this can still come good (50p or more?), LOL!
Never mind in the years to come. There's a mad scramble to make munitions, and lots of it!
Fortissimo hopefully not that long tbh ,am expecting good data from Asia next month kick start demand for rare minerals and demand from others for mining assets like solgold
Exploration is where growth comes from. Profits come from selling those discoveries. With a. folio of over 60 licence blocks, I find it impossible to think SOLG cannot make another Alpala size discovery.
All they need to do is a get a sizeable transaction completed on ENSA and then suddenly the market will believe and see the strategy of 'next cab off the rank' in full working order. Suddenly the market begins to look ahead and see's several cabs being pimped up ready for sale. Suddenly Porvenir looks valuable. Excitement and interest in the NewCo based on just 10 high growth exploration targets/licences (we don't need 60!)... would be massive.
You have to remember that if you fast forward to 2024 or 2025 and picture the copper shortage looming or 'arrived' alongside SOLG hitting some big holes on various drills with the market already knowing ENSA sale success... it's self propelling.
But first they have to prove that there is a rainbow at the end of that exploration success. Without it, the exploration becomes pointless.
I expect Scott and co to be wax lyrical in the coming weeks now they have their eggs in one basket.