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TheItalian posted the link on the 27th at 11:31. The heading is SC Interview.
Q, it was in the recent interview which was posted on here.
I must have missed that addicknt, could you please post the link when he said we are not in the process of raising the project funding.
As you are correct if he recently said it, then maybe we are heading in another direction.
Would be grateful if you could post the link.
Q, so how do you account for the fact he specifically said we're not in the process of raising the project funding? I thought your mantra was always to believe what the company says.
What I most certainly accept is that he's said something to the government which has given them confidence in us. What that is, I've no idea.
Addicknt when he talks about a turnkey project, that is exactly what we require to raise he finance.
With the explotation license in place now, I expect funding will be announced within the next few months.
Addicknt being on the front foot for building Cascabel .
How about hiring two money men to raise the money.
The situation has changed massively.
As somehow we have shown the government we can do this.
Hence solgolds commitment to raise the money.
That's our commitment not someone else on behalf of us.
There is a huge difference.
The other thing to bear in mind is that he said $2bn was a lot of money for a small company like ours to raise. He's not wrong. He also said we are not in the process of raising the project funding, which is hardly surprising as there are still outstanding issues before we would be able to approach the market.
Quady I agree. I posted a while back about large offtakes being agreed as they'll act as guarantees against finance and make it far easier to get. With divestment on non core assets highly likely as part of the strategic review one thing for sure is SOLG are strengthening their hand considerably in any negotiation for Cascabel or the company itself, as if you don't need or want to sell, and have multiple interested parties that want to buy, you can be sure of one thing, it'll go for a premium price if indeed it does go at all.
Q, you're ignoring the manner in which SC answered the question about production. He was far from being unequivocal.
What he is very clear about is putting the building blocks in place to ensure we're on the front foot when it comes to negotiations, and this links back to his comment about presenting a turnkey project.
My thinking is this.
We have committed to raising the money to construct Cascabel.
The government has confidence that we can do this.
Therefore where does the money come from.
I am favouring a mix of offtake and loans and no further dilution.
I strongly suggest that Franco Nevada would like to see an increase in the amount of offtake they can get in the early years.
And by funding us it protects their original investment and gets them to profit faster.
I believe we now have the ultimate defence in place now.
Hence why we hired the two money men recently.
If we were going to be sold, we wouldn't have required them.
But in order to take Cascabel forward they are absolutely required.
Great work DK …. Thanks
Thank you for the article.
Makes interesting reading.
As reported on here, we have the explotation license.
Also it says Solgold have committed to the billions required.
Not that we are going to sell or anything else.
It is unequivocally reported that we have committed to the spend and we will construct Cascabel.
No ambiguity whatsoever.
DK,
Thanks for the info, looking like you are correct, hope you make a killing.
Atb
Darren, a poster posted the translation on the other BB.
Here is the Spanish link which Google can translate:
https://www.imbaburaenlinea.com/2024/03/26/alcalde-de-ibarra-se-reunio-con-representante-de-solgold-para-conocer-los-beneficios-sociales-y-economicos-del-proyecto/
Evening all. I sent the facebook post from mayor of Ibarra to a couple of friends to translate and it confirms my interpretation of it. It clearly states that the permit has passed from exploration to exploitation. Why would the mayor put that in the public domain if it wasnt true? My only reservation is why there wasnt an RNS today? Maybe SC has become Ecuadorian very quickly and manana will do? Maybe tuesday ? But if true a great piece of the jigsaw !! My contact at the council said this happened wednesday. She is solid and reliable, so why would she say it if it were not true?? She was actually the secretary of the very same mayor when he was in his first stint as mayor. Furthermore she is the mother of my first 2 kids !!
GLA
DK