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Hi Quady - yep mate aware of the event tomorrow. Copper pot would be lovely if we could push back into the 30’s and hold this time.

Does feel like we are moving into a much better period now - who knows but I’d like to think we are on the ascending slope now moving away from the orphan period. PFS next Qtr - BHP released Oct - BFS mid next yr .....but what I’d personally love is to get a few holes stuck into those priority targets - we hit a home run anywhere else and the SP will go mental

Have a good week one and all and I’ll drop back in periodically

DG

Cheers Quady.

Here are some of my thoughts fwiw
Enjoyed reading Byron Bays posts earlier - made sense to me
As far as im concerned im not now thinking of MRE3 as being delayed - I believe it either cant be released or its not in Solg's interest to release it right now
Cant be released as in we are in a news lockdown period is a theory, as is the theory that by releasing it may help CGP in someway, maybe they could raise funds and/or it assists their shareprice. Personally I dont really buy the second theory as Im quite sure CGP will pretty much know the content of that MRE3 - this is not school boy playground hide and seek - this is multi million pound business.
As such I believe we are in a lockdown.
Now that lockdown could be due to us bidding on the 15% of ENSA from CGP or indeed it could be because somebody has approached Solg about buying ENSA or the whole shooting match.
I dont think it would be the whole thing - how could we ever sell the whole thing - whoever buys in needs Solgs relationships in Ecuador, needs our social responsibility etc
Could be that we are indeed bidding for CGP 15% - infact we have it in the DGR report that its our intention to do so - but why now..why not wait it out for BFS when CGP would owe us the big money, surely at that stage or just prior to it would be a better time to approach the table.
So that leads me back to thinking maybe its a 3rd party who has approached solg with a view to buying ENSA. Warren Irwin tweeted a few mths back that he thought it wouldnt end up with Newcrest or BHP - then he went silent. If a third party wanted to buy ENSA they wouldnt want 15% still to be owned by CGP - they could either push Solg to bid for CGP's 15% or indeed negotiate with them directly. If we have been approached then Nick would no doubt have informed BHP and Newcrest of the approach - maybe this would release BHP from the standstill - they would then need time to ready a counter bid (if they were so inclinned) and would also want the CGP 15% sorted out. So we could have multiple interested parties within a sphere of negotations, in my mind that could take months. Maybe nobody has officialy placed a confirmed bid on the table and as such the market doesnt need to be informed of a tabled bid (I think), but all parties might well agree that a non news period is best and possibly even have requested it from Nick before approaching the table.
Solg IR, could only then use words like 'imminently' and 'soon' and couldnt provide an explanation for delayed MRE3

Maybe a third party wanted to approach the Solg now prior to any conditional finance package being arranged, which could increase our SP. I think personally Nick has been honest, he will take this to production if thats the option for him, but has always said he'd consider offers if they were right for the company and shareholders.

Maybe the current SP decline is due to Copper wobble, brought about by the worries over Corona Virus - a black swan that

Morning guys/girls

Tough times on the old SP - but maybe better times on the horizon

The DGR report has some great solg info - deffo worth a read
PFS muted for Q12020
My take is MRE3 has to be released before PFS - as it feeds into PFS
So MRE3 likely to be Q1-2020
Now id assume if PFS is to be released in Q1-2020 then of course MRE3 has to be already completed
Well that's the obvious bit - and what we all assume anyway
So why hasn't it been released ?
Well there has to be a reason.....and just maybe that reason is explained in part by the 3rd from bottom bullet in the DGR report
Solg paperwork being sorted for a bid of the 15% ENSA stake that CGP hold
Paperwork being sorted (or words to that effect) reads to me as we are in bid talks
Again this is something that many have assumed anyway
But here's an interesting thought - if we are not bidding for all of CGP - just the 15% of ENSA then just maybe this would be more appealing to CGP as it would mean they retain their circa 9% shareholding of Solg - giving them all the future potential upside (more chance of the bid being agreed)
Now join the dots to Icebergs post here yesterday - CGP are low on money - they have to raise money to keep the lights on - something to do with TSX regulations
If they raise money they are going to potentially send the CGP SP down - again making a deal more appealing
As Iceberg pointed out - Releasing MRE3 now (as we assume its ready) - could send CGP price up
This would surely make it easier for CGP to raise money which they need 'imminently' (hate that word !)
So just maybe - Solg cant say much right now - Eliza cant say much right now and maybe our venting at NM is misplaced

I appreciate its a struggle with SP being down here and I too have to resist the urge to look for an avenue to vent towards

It could be that Q1 - could well see the bid for CGP - MRE3 - PFS - Update on BN - and who knows what else - all catalysts which would send our SP much higher (I hope)

Just my thoughts chaps - I don't have all the answers (That Pob on CEO though certainly posts good directional information)

Have a great weekend (only 8 weeks of Q1 remain)

DG

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