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Https://open.spotify.com/episode/60uNeDeIvEZOac05Ui99TH?si=MYsN3-bMRuiOMEmJfV_kEg
Thank you PAULUS57.
Excellent find.
Absolutely no doubt we are going to construct Alpala.
I talked about the staged finance since 2016.
But the usual tosh being talked about by the likes of Redknight and DBW and insults that accompany these two and others have made it difficult to talk about the development of Solgold.
Great to hear that construction starting next year, and also partners being sort for our other tenements, and that this is being talked about at the moment.
Staged construction means that we raise some money and then finance the rest from ore mined.
Always was the way to go.
Looking forward to next year.
Quady, it's time for the talking to stop and some action to be taken.
We are playing into the hands of our major shareholders each month that slips away.
We now need to move on and bring home the goods( funding).
Yes we are good for upto 2 years with cash burn target of $3m a month but the longer we wait the more vulnerable we become.
I'm aware that a sale is probably the wish of the cgp clan(+ others) but they cannot force the issue and have to move forward from a relevantly comfortable position.
I hope something is brought forward by the end of 2023 to give a clear indication of solg strategy and how to fund this (Cascabel) beast.
Gla
Paul, thanks for posting. This interview probably gave us more detail than we've ever had with regards to what's actually happening on the ground and with governmental discussions/negotiations, so it was helpful.
But, as ever, the real interest lies in what was not said. SC has made some significant steps and has a clear idea of how the resource should be developed and mined, and that's certainly better than anything we've had previously. However, and to employ the over-used phrase, there's a massive elephant in the room - how are we going to achieve this?
As it stands we are still in the situation of having to interpret two completely contradictory statements; 'we are not mine builders' versus 'how we intend to develop Cascabel'.
SC is treading a very careful line and is more comfortable talking about the day-to-day stuff than anything strategic - for obvious reasons. But one will simply not progress without the other and time is of the essence. It's time to put some meat on the bones of the SR.
Add, solg are not going to build a mine at cascabel, and they never were. Our drilling rigs are too narrow bore. It would take forever. I guess some of the local workers could have a go with their own tools, but it seems more likely they'd get actual mine builders to build it 🤦
I don't see so much contradiction to be honest.
The intended strategy has never changed in my opinion, as in let's tell the market we are going to develop but of course if the right offer comes through we will consider selling.
What has changed, gain in my opinion, is that where NM went for the bigger resource numbers in order to attract the prospective buyers but did not actually advance the project because he overestimated the buying interest, SC is doing the practical things that had to be done in order to make the project sellable.
Of course they want to sell and monetize, but equally until a buyer shows up they need to advance the project in case a different financing solution needs to be put in place.
Plan A and Plan B have never changed in my opinion.
Italian, you may well be right.
DM, given the political climate I think it's wise not to spend any more cash on the regionals. I suspect we'd never get beyond a few drill results. My view is that we're effectively a two trick pony; Cascabel and Porvenir. I accept this may be a simplistic view, but I also suspect we have many concessions in our portfolio that will quietly disappear.
DM Solg have tried for over 2 years to enter a JV with the regionals... We were told waaaaay back, parties were doing their due diligence on this.
For whatever reason, Solg have never been able to clinch a deal with any interested party.. We can only guess as to what the reasons may be... as we have never been updated on the matter. My personal opinion is maybe these tenements are simply not as great as Mather pretended they were, and parties have discovered this during DD and walked away..