Rainbow Rare Earths Phalaborwa project shaping up to be one of the lowest cost producers globally. Watch the video here.
Things are hitting up in Ecuador.
Gl all
https://www.mining.com/ecuador-to-approve-mirador-copper-mine-expansion-by-august-official/
Another article, News Flow could be very interesting over the next few weeks.
Gl all
https://www.mining.com/subscribe-login/?id=1153254
Permits are beginning to be signed off now, looks positive for us now.
Got to be some update on strategic review soon.
Scott’s not flying across the world for an hours chat, could be a signing with the Chinese, BHP etc on the cards next week.
Gl all
https://www.bnamericas.com/en/news/adventus-salazar-receive-water-permit-for-curipamba-mine-in-ecuador
No problem in raising the funds for copper, but we all know Cascabel Mine is way too Big for us to develop.
The likes of BHP etc will be in advanced discussions, IMHO a sale will need to be announced soon, in order to plan the long lead times for arranging development in 2026.
Watch this space.
Gl all
https://www.mining.com/solaris-closes-39m-financing-for-warintza-copper-project-in-ecuador/
10p Come on - You wouldn't want to be out of this over the weekend!!!
https://www.chemanalyst.com/NewsAndDeals/NewsDetails/solgold-signs-exploitation-agreement-for-copper-gold-project-in-ecuador-28256
GL ALL
The world’s largest miners, own around 30% of the shares in SOLG and not one of them have sold a share to date.
These companies need our copper, to fill the depleting reserves of copper the world is going to use for the energy transition.
Copper is at an all time high, $5,000+ a Ton
Silver has also just gone over $30
Gold is nearer the $2,500 mark again.
Once the first BID comes in, expect this to explode with a bidding war.
Hold for Gold, literally.
Gl all
Got to ask yourself why the lender has not been disclosed.
Would this have an impact on the M&A Discussions?
Why were 2 Non-excutives brought into the Board in February, with previous M&A history with the Chinese shareholder?
Things are going to move quite quickly from now on, 9p BARGAIN - Many Many multiples of this very soon
GL ALL
This is a strategic negotiation technique, used in many M&A deals, to force the hand of the acquirers.
We have secured a significant funding arrangement (Nothing signed), which tells the parties, BUY us out, or lose out on a TIER 1 Asset.
The following extracts from the RNS, clearly says it all.
"Substantial progress"
"Strong interest from potential financiers"
"Premier Investment opportunity"
"Immediate Cash Infusion, with flexibility and Favourable repayment options"
Now who's holding the Aces :)
GL ALL
If they disclosed the lender, then we would know who the M&A discussions are with.
Next step the Exploitation approval on 6th June, then offers coming in for Cascabel or whole company.
Gl all
Cascabel has 3 time more gold, 4x more silver _& 100% More copper.
Gold was valued around £600 at the time, now it’s over £1,700
Recently the politics are far much better, than back in the day.
Cascabel discovery accounted for 20% of all the copper discovered in the world from 2012 to 2021. Now that’s MASSIVE.
Gl all
T/O is imminent .
All IMHO DYOR
https://wp-solgold-2023.s3.ca-central-1.amazonaws.com/media/2023/07/SolGold-Corporate-Final-Draft-May-2023.pdf
https://www.reuters.com/article/idUSWNAB2276/
With the ongoing restructuring efforts described below, management expects current cash balances to last through June
2024. Management intends to raise financing prior to June 2024 in order to continue to advance its strategic objectives. We
continued our review of financing opportunities. Options under consideration include, but are not limited to divesting other
assets, issuing equity for cash proceeds, selling own shares, and selling a direct or indirect interest in the Cascabel project.
GL ALL
https://www.rns-pdf.londonstockexchange.com/rns/2608D_1-2024-2-15.pdf