Member Info for addicknt

'84, aside from being as thick as pig s***, he's also bone idle and will never go so far as to contact the company. And there's a good reason for that; deep down he knows he'll be proved wrong.

Jerry, un-filter the Aussie moron for a moment and have a read of his post at 11:57.

Q, this such a huge asset - we've been mentioned in the same breath as Oyo Tolgoi - that I'm confident good value can be achieved. Put simply, it's too big to be ignored by the majors.

Q, everything they are doing is designed to achieve a decent exit price.

Eloro:

1) I don't know if he has shares, but he isn't an employee. It seems to me he's being used on an ad hoc basis i.e he's not on a retainer, but I may be wrong.

2) Trying to guess the timeline for a bid is a pretty futile exercise as no one has the faintest idea. As for the price argument, absolutely not. They want/need us to be de-risked and frankly, if that means they have to pay another 1bn, it's neither here nor there.

3) No, but I don't think ST knows much about her.

4) See the answer above.

NMM, no, there wasn't. My own feeling is something may be in the pipeline - mainly because we can't just ignore them.

Interesting comments about us.

It's also worth noting that there are no poison pills in our agreement with both Osisko and FN.

I had a long chat with Jerry Spaniel last evening who, in turn, has had an extensive exchange with Sean.

It must be stated that Sean was expressing his own opinions and nothing of a price sensitive nature was said.

What Jerry and I came away with was a confirmation of the strategy being pursued and the reasons why this had to happen, none of which is a huge surprise to those of us who've been listening to what the company has said.

In essence, the de-risking process is essential, as without it we would have been rogered sideways by one of the majors who were waiting for us to run out of cash (this is exactly what the Glencore man said last year about the strategy of the majors) The funding package has proved to them that we're no longer in that vulnerable position.

What we can expect over the coming months is the ongoing approval of the various permits (I asked Jerry to ask him about the confusion surrounding the timing of the Environmental licence and it emerged that Sean has recently asked them same question). Noboa is acutely aware of the delays caused by bureaucracy and has taken steps to improve matters.

The clear intention is to position this as a turnkey project for someone else to take on (there was a lot of discussion about this which I don't feel it appropriate to mention) and that there is indeed a great deal of interest in the project. It's worth bearing in mind SC's age and Maxit's wishes.

Sean met Noboa at PDAC and was hugely impressed by his commitment to mining in general and Cascabel in particular - especially as it's believed it could be a 100 year project.

The long and short of it is that a very clear strategy is being pursued and there's 100% focus on delivering it. In my opinion, we'll not see any corporate action until we're further down the track of approvals and the key question is; how far down the that track do we have to go?

Thanks to Jerry for sharing this - I can tell you Sean's messages were very long and Jerry read them out - we were on the phone for over an hour.

Eloro, we should all be grateful that the Caped Crusader is here to protect us.

There's only one issue; I don't recall Batman telling such blatant lies to the citizens of Gotham as our own version does. And set against that irrefutable fact, he demands investors should listen to his opinions about a company of which he has absolutely no knowledge.

As I said the other day, over the years we've had so many of these characters appear on this board, some are intelligent, like Stackhigh, but the majority are simpletons who delude themselves into thinking their input will serve any purpose whatsoever. BSR is most certainly not in the first category.

Q, I'm not sure we'd be in a position to guarantee a start date for construction. There my be a 'best endeavours' clause, but not a 'guarantee'. For example, we've received a number of confusing statements about the Environmental Licence, which I assume will be required before we start any form of construction. Will we have by then, or not?

It's worth bearing in mind SC explained that many of the protections are contained in the EA, which makes me believe some of the urgency surrounding the revised IPA has been reduced. The fact FN/OS were prepared to sign the loan agreement without the new IPA suggests this is the case.

BSR, a couple of points:

When a financial institution agrees to fund something on a conditional basis, it has to make a 'provision' for that funding on its balance sheet. In other words, it can't be lent twice. For that privilege, the borrower pays a Commitment Fee. The lender has every intention of lending the money, although the various conditions have to be met.

As far as the conditions are concerned, do you imagine they are set in the full knowledge that they won't be met? A lengthy negotiation would have established what conditions the lender needs and the various milestones will have been established based upon a realistic timetable agreed by both parties. It's worth bearing in mind both Franco and Osisko spent a great deal of time on dd and I've no doubt this involved detailed conversations with the various governmental agencies (this would explain the government's very bullish comments about us raising money before it was publicly announced).

The lenders want this transaction to work and will be working with us, as SC has stated, to ensure the successful delivery of the conditions, and you have absolutely no reason to doubt it will happen.

And how exactly do you know this? Do you work for my broker? Have you hacked my computer?

The truth is you don't have the faintest idea of the size of my holding or my average. Your claim is simply a figment of your imagination. Still, if it makes you feel happier, carry on believing whatever you want.

DBW, that's easy to predict - he'll tell us we're all delusional idiots, and ramping morons.

I see. It didn't happen then?

So there you have it, chaps. Nal says the 750m is merely a delusion, an invention, a fiction we've all fallen for.

Dear, oh dear!

Stick another sausage on the barbie, grab a cold beer and give yourself a few moments to reflect on life.

Nal, how about 750 million dollars? Or do you imagine the commitment was made on the basis that we have no credibility? Do you think this somehow diminishes the external perception of our company? How many other junior miners have raised this sort of money recently?

As much as you wish to trash the business you're supposedly invested in, the facts continue to prove you wrong.

'84, you refer to the higher share price, but the fact is the company had no strategy and lurched from one fund raise to another, constantly on the brink of failure. SC has provided a way forward and has put together the necessary funding.

We now have the credibility at both the government and industry level which I suspect was previously missing. Some people don't recognize a good thing when they see it.

BBG, don't worry, you'll have changed your mind before long.

NMM, I'd be happy with that and have been saying so for ages, although I see no role for NM other than his ongoing NED position. He's part of our history, the future is in the hands of others.

'I'd back Mather over any Canadian currently involved in Solgold'. In which case you must be barking mad.

The company was a complete mess under Mather; it was directionless and he quite evidently had no internal control (witness the missing 4m), it was divided and the major shareholders had had enough. Even the board was at odds with itself. He had no idea how to deliver shareholder value, and I suspect he simply thought buyers would beat a path to our door. He was clearly mistaken.

The strategy here is clear and SC is doing a good job of delivering.