Member Info for addicknt

The cost associated with producing a PFS and DFS has always struck me as being absolutely unbelievable. This is not just true for SOLG, but all mining companies.
Does anyone have a clear idea as to why it costs so much to produce a report?
By the way, I'm not questioning the fact it does costs a lot, just that the amount seems quite incredible.

Putting to one side the complexities of the applicable tax regime, for me, the key message here is one of tone.
We've all seen circumstances where a director sells shares and the immediate reaction is one of suspicion - regardless of what explanation is offered. That slime ball at Sound Energy springs to mind.
However, this is not the case here.
It's quite obvious that GH is both wholly committed to the project and is very excited about it. And the fact is, it's progressing far better than we could have imagined. The sale of some of his shares is therefore not the red flag that we've all seen on far too many occasions.

Morning, Quady.
With regard to the observation that he denied any approach from BHP, even if it is true, which it may well be, he would not be allowed to say if they had. In other words, at this stage, a denial is his only option. This is not something which can be divulged in a podcast.
The appointment of Citi tells us exactly what he thinks is likely to happen.

The share price reaction is unsurprising.
The market isn't interested in grandiose plans for production in 5/6/7 years, it wants to see some takeover action. And that is a fact. BCN is a very useful comparison in this respect. £1.20 per share, down to 23p following the announcement of a funding deal.
We live in a short term world and investors want quicker returns. Particularly in todays markets.

DBW, yup. Exactly.

Quady, no criticism for being trusting, it's just that I've spent too many years listening to CEOs and the way things are spun.
Personally, I think NM is doing a very good job of preparing the business for the inevitable approach. He knows it's coming and, unlike many people, he's not sticking his head in the sand. He's actively involved in the process of shoring up the defences.

Bozi, it's not a question of being 'desperate', it's more to do with a different view of reality.
But you're right about my view of the Cornerstone farce. From Day 1 I thought it was a terrible idea, and I still do.

Quady, I think you get to the heart of why and where our opinions diverge.
You take NM at face value, I do not.

Btw, did he say they'd found a French translator yet? If not, the google service isn't too bad.

Colonel, good points.
As I see it, he wants the Cornerstone share as a defence mechanism only and in my opinion, this is not a good enough reason.
He knows if New or BHP get their hands on it, it's pretty much game over.

Indeed it is.
As to value, it can only be determined on a willing seller, willing buyer basis. Any external valuation may be a useful guideline, but rarely bears any resemblance to an eventual outcome.
And if I were the Equadorian government, I'd have absolutely no problem with BHP taking it on. They'd have certainty of delivery and a quicker route to tax revenues which, as I said the other day, is the only thing they're interested in.

Quady, you never know who will sell until something concrete is on the table. In my experience, there are always surprises; loyal shareholders bailing out unexpectedly and those who you thought would sell, holding on. People's motivations change very rapidly when a few bob is waved under their noses.
As to value, I have no idea. But I bet BHP do.

Quady, I'd respectfully suggest you are wrong there.
No one has ever given a coherent explanation as to why either BHP or Newcrest would be happy owning a minority stake in a company like SOLG and run by someone who has quite clearly deliberately fecked them off.
They want the asset, they can afford it and they'll get it...eventually.

anon, we are in total agreement on that. He's doing a splendid job of putting in place the defence barriers to a low-ball deal. However, that won't stop them getting it - they'll just have to pay more.

What NM (or private investors) wants, makes not one jot of difference.
If BHP want this, they'll get it. And can anyone tell me why they wouldn't want it?

anon: 'keeps emphasising it will be the BHP of Equador'. He's got that right...it will be theirs.

lostagain, he was a childhood friend, although I haven't seen him since I was about 15. And yes, his father did own a chemist and someone told me he'd been involved in a crash. His nephew is Craig David.

lostagain, have you ever come across a fellow Southampton taxi driver by the name of Dave Loftus?

I felt it important that I conform to the characterization and have just woken up. However, this is not usual as I don't like sleeping during the day. However, we had an eight hour lunch in the garden yesterday and I have the most monumental hangover.

haven't happened; why?
The price sensitive nature of the funding agreement was obviously holding them back, but as it currently stands, we private investors are not expecting anything else at the moment. So why haven't they bought? Are they aware of other developments? What other explanation is likely?