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Indeed, but you'd think one follows the other. Why grant the licence if you don't intend to let the company mine?

This is very significant news for us and improves our marketability enormously.

Q, actually I'm going to back-track on my last post.

The announcement specifically says the presentation is open to non-shareholders. If it related to something of a significant corporate nature they wouldn't have said that.

Q, yes, all possibilities, although I'm not sure about the 'new audience' suggestion.

Fabulous news, but does this warrant a presentation? Not in my book.

25 years. Phew!

We've received the Cascabel term renewal from the government.

The announcement of the presentation specifically states that it concerns 'recent activities'.

We know there is no exploration happening, therefore it can't relate to that. We were told 'engineering studies' are being conducted, but nothing much will have happened in the past three weeks to justify a presentation about that, and I can't recall anything else of note that was said - other than the data room stuff.

Therefore logic would suggest it will be about something new - something which has happened in the past three weeks.

Given the company's long standing capacity to surprise, what have we not considered? An amended PFS? Government licences? A public-to-private transaction?

And what about the possibility of bad news? We're not short of cash, so we can rule that one out; but is there anything else?

Idle speculation, I know. But that's what being a private investor is all about.

Bozi, yes, logic would tend to suggest it won't simply be a re-run. But then again this is Solg.

I wonder if we'll see a speculative spike in the sp before Thursday?

Orthern, what's your expectation for the presentation?

AgArCu, where exactly did I express 'excitement' with regard to this week?

In my original post I merely outlined the two possible interpretations of the news that another presentation is to be made. And when I said 'we shall see', I meant just that. It was a factual statement. I also said I'm looking forward to seeing how 'things pan out this week', this too is a factual statement.

As it happens, it's my view that we won't see the release of the news many of us would like, although I'd love to be proved wrong. I do however believe that it won't be a re-run of the last debacle.

If the presentation is about a corporate event, my speculation (obviously it's no more than that) is that we'll see the spinning-off of the regionals into newco accompanied by a fund raise of some description for the new vehicle. We'll be offered 1 new share for every 100 existing shares held. Our existing plc will retain ENSA and we'll see the introduction of a jv partner via a significant placing - almost certainly the Chinese. These events will require the shareholder approval SC referred to. RK, before you say we've got enough cash, I know we have. But if I'm correct I believe the company will want to set out the stall for the future of Cascabel and that will involve a significant chunk of money. Again, I hope I'm wrong and, to quote Trump, majorley so.

Before I'm accused of wishful thinking, flights of fantasy etc, please note I said this is mere speculation, which, as far as I'm aware, is still allowed on these boards.

Aggie, I'll post whatever I like and feel free to do the same. You won't see me telling people what they can and can't say.

Bozi, I sincerely hope so.

Nal, perhaps you could point me in the direction of my 'hysterically offended reply'? As for the rest of your typically incoherent post, we'll see how the weeks pans out, shall we?

If that's what your post meant Ag, it certainly didn't read that way. Still, you were posting late at night, so perhaps you were under the weather. Incidentally, I completely agree it's an attractive prospect at these prices and I'm pleased you also see it that way.

And btw, I'm not remotely angry and am looking forward to seeing how things pan out in the coming week.

'lots of investors don't care about solg being attractive'. Really?! So people seek out unattractive investments, do they?

If you're interested in a yield, you'd be far better off buying LGEN. 9% from one of the safest bets on the market.

The bullish argument says the presentation is to discuss something substantial; the bear argument says it's merely a recognition that the last effort was so utterly useless , and they received so much flack, they've been forced into doing it again but with more detail of what it actually meant. I pray to god it's the former. If there's no RNS on Thursday morning we may as well stay in bed.

Anyway, one thing's for sure - the argument will rage all week.

DM, I agree with most of what you say. However the effect of these agreements is material, particularly when you bear in mind the average net margin for the major miners was 14% last year. Assuming we load with debt to get to production our margin would be considerably less. This is why we won't be going to production, so we won't need more royalty funding.

A full calculation is not possible, for the simple reason we have no current projections upon which to base it. However, we are currently committed to 1.6% in NSR payments and the latest figures we have seen relating to the possible government take is between 6-8%, although I seem to recall you suggesting it will be much higher.

So, are you really trying to suggest we could give away an even greater number without it impacting the return and therefore the attractiveness of the project? My contention is that we cannot, yours is that we can; the difference being the company seemingly agrees with my stance.

In any event, I don't wish to see us raising any more funds of any description and sincerely hope we don't get to the point where have to.

Interesting that neither the company nor our two largest shareholders agree with you. But I'm sure you know best.

Aggie, it's not only based upon what the company has said, it's driven by the economics. When you take the government's cut into account, we simply cannot give away any more of our top line. To do so would seriously endanger the viability of the project.

I wonder when the penny will finally drop with regard to further royalty deals? It seems to be taking a very long time.