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????????
;-)
I should add, that if the Chinese do get involved (deeply involved) then I fancy they might repeat what they have done in the south and go for a smaller start up mine like Tandy offer... open pit and cheap to extract, generate some profits and then make the block cave works and second phase of mine build out (or down) relatively easy to finance.
So Tandy kicks off in 2024/2025. Block cave deep shaft developments follow in 2025/26 and then mine plan build plans for greater exports kick off in 2027/28 as currently guided.
Tandy potentially holds the key to reducing the overall build costs albeit on a separate satellite project basis. Far better to get some income coming in while bigger pipeline/infrastructure plans and deals go on for the bigger Alpala mine.
Eish, that's the critical question and the company has done little to clarify the situation.
Do we need a DFS?
Why did the company say we have sufficient information? Sufficient for what? Capital raising, or the sale of the asset?
How can we raise cash in the money markets without a DFS/BFS? This seems highly improbable to me.
How much of our recently raised hypothecated cash for Cascabel will be spent on a DFS? All of it? Part of it? None of it? Have we downed tools on the study? If so, why? And why let the Minister get up on his hind legs and boldly announce construction will start in 2024 when we know that it's highly unlikely?
So many questions and absolutely no answers...just more speculation.
No red, I made my peace with you nothing to do with me.
GL
Geejuss Red! Hope you're right and that your observation and post IS correct! it would help, LOL!
Agree, Lasso and mining ministry are 'trying' their very best to attract business and get billion dollar projects off the ground. Lasso is under the cosh at the moment as inflation hurting (not his fault) and people growing angry with lack of business opportunities etc etc etc. Lasso will fall over backwards and lay out the red carpet (not red tape) for SOLG .... anything to get the headline of 'multi billion dollar mining deal agreed'. So anyone that thinks the Ecuador gov will be obstructive or play hardball is living in la la land.
Ecuador need to send a firm message to all potential miners / majors out there that they are OPEN for Business.
But what Lasso et al are not keen on is this lethargy or limbo position of having mines that cost billions in the hands of minnows when they should be in the handoff deep pocketed companies. So Lasso will want to push and press SOLG into agreeing some kind of deal with a finance partner or full sale. The sooner the better. So all in all...everyone seems aligned to the common interest imho and that's why we look in good shape to get this done in 2023.
"Or, do we have a possible buyer/bidder and this makes a DFS irrelevant? "
Thats the one Eish...and also why we've cleared the decks to such an extent that there was nobody clever to put the Propsectus together...
Thanks Mathers...
So you're saying he's MassiveRay...figures...
SharketMare or any other posters. If the DFS would add value to our asset or make the sale easier, why have we not completed this requirement? A completed DFS would make our asset more attractive, surely?
Is it that we don't have the funds or lack the will and/or manpower?
Or, do we have a possible buyer/bidder and this makes a DFS irrelevant?
Opinions please?
I haven't been posting here that much mathersfinger, don't see why you always bring me into arguments that have zero to do with me.
add, it'll be miraculous if we have produced a DFS by 2024, let alone started construction.
Why on earth is anyone replying to AAC/MR, same type of argumentative dribble that will go away when you learn to ignore, Red you are a childish t*t for even going along with this fool.
When are people going to learn, ignore rubbish and argumentative posts that have no merit, enjoy your day
Atb
Filtered mate! Like the other 50+ he reckons he has on filter. Plenty around here don't like to read the truth , it spoils the daily club of back slappers.
SM, me too, in fact my wife has just had to buy more salt. Frankly, 2024 strikes me as being total fantasy.
I've read every one of your 50 posts...they add nothing to the debate I'm afraid...I thought the Michael Li one did, but now you say it was satire.
For the sake of the Board I am now filtering you.
Goodbye...
amongst you will have no doubt spotted that following completion there will be a negative movement of the fair value of our combined financial assets of $92m. The result of this is that total non-current assets decline by $6m, despite the fact that CGP's NFA is 86m.
Can anyone explain this?
Can you see the similarities to what you just posted? Yes, mine took me 2 mins to come up with, but everything you've written there is irrelevant and, by association, rampy. Shouldn't have wasted your time copying links.
And when HH says something correct, we can talk about him again, otherwise he will just keep jumping up at Irwin, trying to get a response to validate his inaccurate ramblings. Remember all the immovable deadlines he talked about that we sailed through without news? There's your proof.
Please, Red, explain how these algo Boogeymen are taking our so down?! I'm waiting...
I wrote this to another poster on this BB privately a couple of weeks back, think it is relevant to the above article shared by DBW:
We have to remember that these guys are politicians and probably shouldn't be held in much higher regard than the ones on our own shores. They are thinking about the next 2 years and might not even be in position much after that. Not saying they are empty words, and acknowledge that mining is a core part of the (current!) gov't's economic plan for the country, but the scale of the mine and what is required to build it (particularly the upfront finance) means that ultimately the gov't are going to be working towards the timelines of whoever is paying for it.
In short - I take these statements with a large pinch of salt, unless the Ecuadorians plan on requisitioning Cascabel and paying for it themselves (ha!).
52 ALGO trades out of 59...the rest of us waiting for Monday...?
So this is satire...are you deluded...?
"Have it on reasonable authority that Michael Li (Maxit) met with Yu Tong from a little know Chinese copper investment company earlier this week in HK. No details except that it was a full/long day of face-to-face, decent team of advisors on Chinese side. Jiangxi use the same hotel business centre for meetings most times, it would seem (what's wrong with their offices?!) as does an acquaintance who has worked with Li in the past. He knows I have a (failing!) position here so let me know he'd seen him, and was kind enough to ask reception if it was Jiangxi (yes, it would seem) . I'm now all in here. Good news to follow. Very, very excited if they've got an offer for Cascabel out of them."
My dear fellow, you are the most intelligent, experienced, well mannered, thoughtful, kind and unassuming poster I have ever met on LSE...
Now THAT is satire...or is it irony...?
Oh and BTW I AM Spartacus... ;-)
So...it took me a couple of hours to research and write that 'article'..
It must take you all of a couple of minutes to write your abuse...
And frankly you cannot hold a candle to HH, to whom I am connected, because you don't actually post any facts or useful information...he does...
Part 3...enjoy...
"Boris Mikanikrezai, metals analyst at commodity specialist Fastmarkets, one of the leading experts in commodities markets has warned that the West has fallen behind China in the race to secure copper supplies, due to its short-sighted approach to commodities and energy policy.
He told City A.M. that China’s dominant presence in emerging copper markets meant the West was in “more trouble” than its rivals when it came to obtaining essential minerals to meet its future needs."
https://www.cityam.com/the-west-faces-copper-crisis-as-china-dominates-key-markets-warns-expert/
China's Belt and Road Initiative
"In August 2021, Ecuador's President Guillermo Lasso decided, through an executive decree, to speed up strategic mining projects with the goal of Ecuador becoming a copper powerhouse. Ecuador is trending in this direction as mining exports in 2021 increased 99% from 2020, according to Ministry of Energy reports. Foreign investors, including Chinese enterprises, will play a driving role in determining Ecuador's ability to realize this goal. China itself is incentivized to invest in Ecuador's copper industry as China attempts to grow and diversify its sources of copper. In 2020, NASDAQ found that copper produced at the Mirador mine was exported directly to China. "
https://www.tearline.mil/public_page/copper-ecuador/
Part 2
Corriente Resources owns Mirador.
Corriente Resources was a multinational corporation based in Canada that completed feasibility studies and environmental impact assessments (EIA) for open-pit copper mines in the Ecuadorian rainforest, including the Mirador mine.
n 2010, the company was taken over by state-owned Chinese companies Tongling Nonferrous Metals Group Holdings Co. Ltd. and China Railway Construction Corp. Ltd. through their jointly owned subsidiary CRCC-Tongguan Investment Co. Ltd.
So the partners in Mirador are Tongling and China Railway Construction Corporation (CRCC)
The major shareholder of the latter company is the state-owned China Railway Engineering Corporation (CRECG).
Tongling Nonferrous Metals Group Holding Company Limited is a state-owned enterprise involving in extracting copper resources and smelting copper and other non-ferrous metals.
And of course Jiangxi Copper Company Limited was formed by parent Jiangxi Copper Corporation, which is owned by the Chinese government, in 1997.
So if you are putting all this together, basically the Chinese Government owns CRCC through CREG; and Tongling; and Jiangxi...
https://www.mining.com/charts-chinas-overseas-copper-mining-scramble/
"Data...indicates Chinese companies invested more than $56 billion in overseas copper assets between 2005 and 2020. "
https://www.forbes.com/sites/thebakersinstitute/2021/04/05/chinese-firms-position-for-an-energy-transition-copper-supercycle/
You arruved on 7 February...
Here is my article from 3 February in 2 parts...there are hundreds more like that...Part 1
"China's existing huge copper project in Ecuador is Mirador...
The project is owned and operated by Ecuacorriente S.A. (ECSA), a subsidiary of the state-owned Chinese company CRCC-Tongguan Investment Co. Ltd, which comprises Tongling Nonferrous Metals Group Holdings Co. Ltd. and China Railway Construction Corp. Ltd.[4]
The major shareholder of the company is the state-owned China Railway Engineering Corporation (CRECG).
Lawyers acting for the acquisition of this project were dwvp...specifically Ian McBride...
And guess what...
DWVP is "Acting for Cornerstone Capital Resources Inc. in its proposed merger with SolGold plc pursuant to a court-approved plan of arrangement, consolidating ownership of the Cascabel project in northern Ecuador."
And they also acted for Maxit Capital LP, as a financial advisor to Guyana Goldfields Inc., in a successfully contested plan of arrangement under the Business Corporations Act (Ontario) in relation to Maxit's retainer agreement with Guyana.
And of course Maxit acted when Anglo-Australian BHP agreed with Guyana Goldfields to buy a 6.1% stake in Australian SolGold...
And then of course..."In October 2016, SolGold shareholders rejected a BHP investment proposal for the development of the Cascabel project.
BHP had offered US$30mn, or 22 cents per share, for a 10% stake in SolGold.
Instead, the shareholders accepted Australian Newcrest Mining's offer and a proposal by private investment company Maxit.
The deals called for Newcrest to spend US$22.8mn for buying shares equivalent to 10% of SolGold, while Maxit got 4.43% of the company for a US$10.1mn investment."
On 7th Feb you posted 'I'll leave you to figure this one out, scrat- bit of a head'scrat'cher. If you (or anyone else!) gets it I'll buy them a pint.'
Well I've tried and all I can come up with is either :-
1) The first London bus "omnibus", operated by George Shillibeer, begins service between Marylebone Road and Bank Junction (passed Pentonville Prison) on 4th July 1829.
2) Cornerstone (oooohhh) laid for 2nd US mint at Chestnut and Juniper St, Philadelphia, the "Grecian Temple" on 4th July 1829
If either of the above are correct I claim my pint. If not, give us a window into your mind, scary or not, and explain your name so that we may perhaps have a better understanding of you.