Member Info for David7015

There must have been some posts between 13.25 & 17.15 particularly on a news day. Have they been removed by Admin and if so is there a reason?

Lordlush: you are right that volume is low but it has been for some time. We are as much clogging up the BB with details of buys and sells, as you were in 2021 with some of your irrelevant comments. No one commented then, so leave the posters on this board to comment on what they want. No harm is being done.

Cobaltblue: I have to agree with Aberystwyth on the sells. I was offered 2.20 on several dummy sells between 2 & 2.45pm, and 2.25 to buy, so there is no way all the trades today are buys.

Firstly, I don’t know why ADVFM & LSE cannot report accurate trade information. It is not exactly rocket science and secondly, what is to be gained by disguising sell trades as buys and vice versa come to that. We all know that for every sell, there has to be a buy further down the line.

Presumably if there are no sellers, the laws of supply and demand kick in. No matter how the MM’s want to play this stock, if there is demand to buy, the price inevitably will rise and, in the process, a few sellers will appear to provide liquidity.

Quady

I was simply being conservative. We both know that these projects can go over budget.

In any event, £2.22bn or £3bn. It is a very challenging amount of capital to raise.

I know you have always been convinced that we would go to production. And you may very well be correct. All credit to you - You have never shifted from that view although I had hoped we would be bought out by a major.

Damers/CD

I am not convinced that pursuing any policy, the crux of which, is to unsettle our largest shareholders is to our advantage. Pursuing an IPO is an arduous process and whilst the new CFO is extremely able, it could take many months to get it away. We will nearly be out of cash in 30 days time.

We are also looking at timescales for an IPO when financial markets might be substantially weaker.

BHP need to do nothing except watch. Solg has to make all the running. We are a £600M company looking to raise £3bn minimum for production.

Not sure I follow the strategic rationale of recruiting a CFO at this stage. if Solg receive an offer for the business, it could be one of the shortest appointments in corporate history.

There is no chance of Solg raising the huge amount of money they need for production. The swift drop in the share price post PFS makes a capital raise so much more challenging.

I believe a sale of the company or Cascabel at the very least is the only way forward now. The poor share price plays into the hands of potential bidders who can just sit on the sidelines.

As an investor since 2010, this is not at all what I had hoped. I, like many others here, thought the PFS was encouraging. I didn’t expect the company to be entering the remainder of the year on the back foot.

Do you plan to train people from the community to be mine technicians in the future?
Our goal as soon as we get to production is that we have trained technicians from the area, from the province. Our activity with the Ministry of Education has been to encourage young people who are in high school to go to technical schools to develop skills, so that they will be the ones who manage the mine plant in the future.
When will it come to the stage of community consultation and socialization?
The community must be informed in the environmental impact study. Socialization must be done so that the people understand what we are doing. They have the right to ask and receive adequate answers to their concerns. Regarding prior, free and informed consultation, this corresponds to areas that have indigenous communities, that is, to ancestral areas. It is important to clarify that the obligation to make the consultation is not the obligation of the company, but of the State.

This also guarantees the subsequent use of the resource in future stages or even in parallel, with the same infrastructure.4
This mine is one of the largest in the world. How can its importance be understood?
With this latest resource utilization data, the mine is in the top 20 in the region. It is a copper deposit, with gold and silver credits, which has a production projection of 30,000 million in 25 years, which means a tremendous boost for the economy of Ecuador. It should be noted that the production of copper is of absolute importance to combat global warming and not use fossil fuels. Cascabel is the largest potential mine in Ecuador.

What was the factor that influenced the mine to be underground? Perhaps to generate less environmental or visual impact?
The physical style is what determines it to be an underground mine. The deposit is 1.5 kilometers deep, it is not immediately on the surface. Its long-term development must be underground, there is no option on that.
When will the royalties arrive or what are the most immediate benefits for the treasury?
In the development of any mine, royalties come from production, because a percentage of between 3% and 8% is calculated on the sale value of the concentrate. Mainly they come from the first production. But in Ecuador they have demanded advance royalties, and this is an issue that still needs to be discussed in the negotiation. At this time, we are confirming [an] exploration investment, until December 2023, planned [of] $430 million, and this includes activities in the exploration phase.
How has it been in a topic that is sensitive and a priority: the approach to the community?

At Cascabel we have had an excellent relationship with the community. In the initial exploration stage we have generated employment by hiring labor, transportation; We use a group of women for kitchen work, who are trained in food preparation. We have also supported training in other types of activities, such as exploration, drilling, environmental care. We have worked with the Ministry of Agriculture and the Ministry of Health, especially due to the pandemic.
How much employment have they generated so far?

As of April 2022, SolGold's total employment is 783 employees; 98% is Ecuadorian talent. Meanwhile, the subsidiary company ENSA (in charge of the Cascabel project) has 409 employees, of which 341 are local. That is, from the area of influence of the project.
An issue of concern is, for example, the environment. How are you dealing with it?

For example, we use the water from the area of the slopes; Before returning it, we process it in water treatment plants so that it has adequate characteristics, if not better, than the ones it had. Likewise, when we drill, the water is recirculated. This reduces its use and, in the end, we return it treated. In addition, we teach the community itself to be overseers of water treatment. We have a trained community group for this.
Do you plan to train people fr

Andrew Taunton, vice president of SolGold Ecuador, which manages the Cascabel concession, one of the copper deposits that is currently in the top 20 in Latin America, explains the progress of the phases of the mining process. After the pre-feasibility study, it is estimated that the investment for the construction of the mine, located in Imbabura and which would start in 2024, should be $2.7 billion.

The project, which will be an underground mine, still needs to go through several stages, such as obtaining construction permits and an environmental license. The relationship with the surrounding communities has been positive through the generation of employment and the transfer of knowledge.

This study is part of the mining development. In mining there are several stages: initial exploration, advanced. In the case of Cascabel, we have drilled 310,000 meters in the Alpala deposit. Even if a large deposit has been found, what needs to be done is the pre-feasibility study. This analysis determines if it is feasible to develop the deposit, and considers the need for investment and the percentage that will be used in a first production estimate. Thus, it has been concluded that in 26 years we will extract only 38% of what exists.

After pre-feasibility, what comes next?
After that, you have to do two things: talk to the government, discuss potential future production, talk to investors interested in providing funds. In two more years we must obtain the production license that will allow us, together with environmental impact studies, the start of construction, which would be in approximately 2024.

Construction will already mean a greater volume of investment, is that correct?
According to estimates, some $2.7 billion are needed for construction. This investment figure will lead us to complete the infrastructure to start the production of the mine. Later we will increase, in five years, to the maximum production; for this $ 2,100 million more are required. The latter is to develop the plant to its maximum capacity and have capital to replace equipment during the useful life of the mine, that is, in 26 years. Four to five years of construction are currently anticipated to go into production in 2029.
Was the volume of minerals already known before? What is the final data?

In the original study we indicated the estimated amount of resources. This is: 9.9 million tons of copper, 21.7 million ounces of gold and 92.2 million ounces of silver. Now, refining this, for more detail, we focus on an area in the center of the deposit. And it is defined that we are going to use, in this case, 3.26 million tons of copper, 9.37 million ounces of gold and 30 million ounces of silver. The idea is that with the $2,700 million of investment we reach this production as soon as possible, in order to generate a recovery for investors and that the country also receives the income, which can be used for the work of the social sector. This also guarantees the

Well said Ortherncopper. Freedom of speech is a human right under United Nations legislation. We do not have to agree with everything that Slug, or anyone else, has to say. But it is their right to say it in just the same way as you and I have the right to counter those views.

Please not let this BB descend into another slanging match between a small number of posters. We are on the verge, hopefully, of some transformational news. Let’s embrace that if, and when it comes and debate SOLG and not posters with whom we disagree

Sean, it takes less time to filter the idiot than respond. It also stops repetitive & vitriolic responses which clog up this board.

I thought that the increased BHP holding was as a result of the primary bid on 27th April 2021

Redknight: I know you receive mixed reviews here but I appreciate your input. Just sorry that for the time being you are losing money on the recent trades.

I sold half my holding at 34.8p a few days after the PFS because of the continual downward pressure on the share price. All the best with your holdings here.

Bubble: I have been invested here since 2011. It is all very well saying “Safehaven asset here DYOR”. Tell that to investors like Redknight who invested a large sum of money just before the PFS was released. 40p to 28p in a week. I don’t suppose he will be viewing his investment in the same way as you do right now.

I am sure that at some indeterminable future date, we will be put out of our misery and a bid will be tabled for SOLG. i just think it will retake much longer to achieve the buy out

Disappointing to see the share price continuing its downward trend after the PFS. This makes it more challenging for SOLG to raise the capital they need to go it alone. It also enables BHP and any other prospective bidder to sit it out and watch without any pressure to bid.

If the directors are so confident in the PFS, why are they not buying more shares in the company. Why would they expect BHP to make an offer when they can’t put their money where their mouth is - unless they have already determined the price of the capital raise.

Thoth: So sorry to learn of your health issues. You have been an inspiration to me, and many others, during the 10 years or so that I have been invested here. Good luck to you and hope that your medical advisers can plot a route through this dreadful illness to give you some quality of life. Will be praying for you mate.

David

Unable to purchase any shares in my share ISA with HSBC Invest Direct because of the consolidation - so I was told. Anyone else managing to buy these in a share isa on a different platform?

As today is also the last day in the current tax year to crystallise capital gains, this might also have an affect on trading prices. A number of people might be looking to lock in the gains of the last couple of weeks. Also could be some bed & ISA transactions though that is a touch risky with the potential that exists here.

Massive

What do you think would happen if your beloved Poly shares were delisted.?