Firering Strategic Minerals: From explorer to producer. Watch the video here.
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Https://ceo.ca/content/sedar/SOLG-2024-03-11-technical-report-ni-43-101-english-a58f.pdf
"On this basis, reference to the Cascabel Project as "World Class" (or "Tier 1") is considered to be appropriate."
Fantastic. We all love the term 'Tier 1' as this commands a far higher premium and lower cost of funding as risk is lower
They do seem in a rush all of a sudden don't they?
They had until April 1st to release the technical report, so releasing it now suggest in my opinion that they needed to get it out there before issung some other news... and we all know what that might be about.
Official signing of investment protection must be up next in Ecuador but not sure that can happen without evidence of the funding backers or partner deals. One thing is sure... Mr Noboa will be going for max publicity so I would expect a well documented ceremony as $3.2bln is Ecuador's most historic investment commitment to date and spells the beginning of major mining projects in the region. It will have super majors around world looking as well as neighbours like Chile, Colombia, Brazil etc. They'll soon have a new metal exporting powerhouse to contend with.
I believe the 'tier 1' reference is advertising (For Sale sign has been hoisted) to prospective buyers. Almost the starting point for negotiations to buy Cascabel
SOLG has been claiming Cascabel is a Tier 1 well back into the Nick days...nothing new...
But it fits BMO Caapitals definition...
This is on page 235 of the technical report.................
SolGold has to date received ten qualifying Expressions of Interest (EOI). Demand for the Cascabel
project concentrate from traders was significantly in excess of planned production volumes; as such,
SRK remarks that it is possible that metal payabilities, precious metal refining charges and payment
terms could be finalised on better terms than previous conceptual assumptions.
SolGold has also received material offers of funding in exchange for offtake from a number of traders.
These include the provision of both short-term and longer-term capital with proceeds available for
studies, mine construction and cost overruns as well as working capital during ramp-up.
No offtake agreements have been entered into at the time of this report and the QP has not reviewed
any of the Expressions of Interest received by SolGold.
Thanks Mog ..
An offtake would certainly disappoint those posters who’ve convinced themselves they’re going to revel in watching a car crash of a raise
Don't be silly, mog. No one's interested and nothing has changed. We know this because certain people on here have said so.
Putting aside my sarcasm, this excerpt is enormously significant. Never before have we seen such a detailed description about what's been happening following the opening of the data room. And it doesn't include details of those parties interested in either acquiring or entering into a jv, which I think we can assume have also emerged.
Many thanks Mog999
Yes, I concur. Top stuff fro M999. Keen digging to unearth those gems of info that up confidence
Careful Mog... some of us are still keen to add stock! lol!
There's a few other lines in the doc that are quite revealing... I have no doubts that the 'big boys' and that includes the Blackrocks et al have read between the lines. Blackrock may well be thinking of rebuilding a stake after exiting last year around 18p/22p levels. They did well there (certainly better than Berry Street and their 12p exit) but leave it too long and they might struggle to get back into the stock if the herd arrives... and the herd most certainly hasn't arrived just yet.
Blackrock were active buyers when SOLG was 35p not long ago. So they know the inherent value and the opportunity tyat lies ahead.
So we now know we've had numerous offers of finance, but so far have not chosen to take any of them up. Why?
Incidentally, chapeau to Q for calling the availability of funding correctly. Of course, we may not end up going down that route, but his prediction was right.
Add,
Yep, looks like Quady was right, worlds full of surprises lol
Atb