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RK, I find it difficult to understand why you've repeated your claim about cash flow - didn't you bother to read page 14 of the latest MD&A?

In the companies own words; 'we have sufficient cash for the next few months'. Do you think they were lying?

I should clarify my fees comment. We'll be accruing hefty fees, not necessarily paying them. Knowing our cash position, the advisors must be confident of a positive outcome...they wouldn't do the work if they felt their fees were at risk.

Eloro, yup, enough cash for 3/4 months only. And bear in mind, we'll be paying hefty advisors fees at the moment.

CMG, agreed.

Metooooo, thanks for posting this link.

It seems to me that there may be some ambiguity over the interpretation of 'the Ecuadorian government has signed a preliminary agreement with the investor'. Does that mean we are the investor or, is the comment referring to the Chinese? Middlekoop seems to think it refers to the Chinese, but if this was the case why haven't we been required to issue an RNS?

Covgaz, perhaps I'm being naive, but I don't put Eloro in the same category as the others. Aside from his rather eccentric views of Caldwell, he appears to be reasonably positive about the asset - although his opinion does seem to vary from day-to-day. But the main point is that he isn't rude, so why shouldn't I respond? Additionally, his most recent comment about the going concern status was erroneous and needed correcting - just like RK's really odd opinion that we have sufficient working capital 'for at least several years'.

Ultimately we make our own decisions about who we respond to and if it's ok with you I'll continue to engage with Eloro.

Eloro, as I pointed out the other day, your snouts in the trough argument has absolutely no basis in fact. The second point is the going concern issue. If you read the relevant section in the MD&A you'll note that they base their opinion on current discussions and the company's historic ability to raise cash, but there's a more germane point, which is that the only Going Concern opinion which matters is at year end. As it stands the 10m would not be sufficient to allow the statement and the accounts would have to be qualified, so your suggestion is a red herring.

Obviously the company needed cash, but the key question is why 10m? As I see it there are two options: 1) it was all they could raise, or 2) it's all they need to get us to a corporate event of some description. In the light of the recent announcement, which of these two do you consider to be most likely?

Eloro, what is your interpretation of the 10m raise?

Eloro, the business will be a very different shape by December. As I said, the next two or three months will define the future.

Couple of months should see the culmination and revelation of 18 months work. Aside from the initial discovery and subsequent drilling results, this will be the most important period in the company's history. We cannot continue lurching from one fund raise to the next.

I just pray to god they've used the time well and will deliver something which truly delivers shareholder value. This is no time for wishy-washy, ambiguous drivel, it needs to be bold and transformational.

p.s if you read this board Mr Tufford, stop fannying around and do your job.

RK, I suggest you re-visit the latest MD&A. Page 14: " The company has sufficient liquidity for the next few months..." This is after taking into account the 10m raise.

Eloro, I'm certainly with you on your last sentence.

I suppose if we assume the 10m will last three months we should have an answer soon.

Eloro, I'm not sure what evidence you have to support your claim that IW has lost enthusiasm for Solg. You seem to be basing your opinion on your interpretation of his demeanour in that interview. In the various email exchanges I've had with him I've not detected any loss of enthusiasm, albeit he's been as frustrated as we all are at the slow pace. However, he's accepted that the process will take as long as it takes and has full confidence SC will deliver - hence his comment about being sold within the next year. He's also been very clear about the mountain SC has had to climb and just what a dysfunctional mess the company was before he was appointed.

Anyway, as I said earlier, you can make your own decision as to whether you believe him or not, although his past success is worth bearing in mind.

Meetoo, IW didn't say 'a year or so'. He said 'a year also', a comment which was related to a the company he previously mentioned in the video.

I've no idea if he's right or wrong, but there's a clear distinction between those two comments; one suggests a clear and unambiguous opinion, the other is much more vague. So, just to be clear, it's his firm opinion it will be sold in the next year. Whether you believe him or not is another matter.

BBG, I hope you're right.

Do you seriously think $200k pa equates to snouts in the trough? He's quite possibly one of the lowest paid CEOs on the market. It was Mather &co who took the mickey, not the current lot. Add to that the fact he has to live in Quito when I'm sure he'd rather be in Canada, doesn't exactly add up to a life of luxury at shareholders expense. And bear in mind, he only gets his real reward when we all do. As for your mate on twitter, trying to equate Barclays with us is total nonsense. Their review only involved themselves and was not dependent upon the actions of others - ours does.

Eloro, thanks for posting. Just to be pedantic he said Solgold would be sold in the next year 'also', not 'or so'.

Q, my point was that the decision may be made for them.

Q, as far as we are concerned and assuming BHP are still interested, I think their actions will be driven by the actions of others.

Jezzoo, precisely. The tide was already turning when Henry made his original statement, which I seem to recall was during some conference Q&A session. At the time it sounded c0ck-sure and misguided and subsequent events seem to have proved the point.

Q, I've asked myself the same question and haven't been able to find an answer.

I think it was last year that Henry was talking about producing assets at bargain basement prices, but the world has moved on since then and I wonder what his thinking is now. If he wants copper he may have to re-visit his strategy.