Member Info for Dreamboatwarrior

Mathers

Ignore ….. BSR perfectly entitled to an opinion, whatever we may think of it. This will happen when it happens…. A week / a month / a year . What we are now is pretty much derisked.

What we need now is Conditional funding from a copper forward and / or conditional debt packages. That will remove the perception of a $900m new equity overhang , hopefully this will land sooner rather than later.

By reducing the CAPEX in the revised PFS we have opened the door to many more potential players.

We also might get something unexpected on the regional front. I’ve no idea why they didn’t think to announce the extended drilling licence at Porvenir but it was two years in the making. Plenty to come here but who knows the timeframe.

Morning Add

Looks like it’s a box ticking exercise of permits, rights of way ESG etc now until we get this sold. We’re clearly in a much stronger/ safer position than we were a couple of months ago as well.

Interesting that BHP & Newmont were also happy with the funding package ( probably because it can be unwound & didn’t touch the copper ) with 6 months of DD you can be sure Franco will be confident of our ability to raise the remaining $900m .

It’ll be interesting to see how they look to extract some real value from the outside tenements too. Plenty of upside there too. I quite like the idea of the “Spin Co” that Scott alluded too and I don’t see us going down the JV route. There was also the mention of a potential stream for Porvenir. I just hope they can keep the market interested and create some buzz along the way .

BBG…. Totally agree it’s all about permitting and right of ways now. There’s no way Franco & Osisko would have coughed up without serious reassurances that these were a given

BBG 👍…. Spot on

Yesterday Scott & Christina were kind enough to share an hour of their time with DG1 & myself to give a general insight as to where we are now.

The overall impression I got was that we are in a much healthier place than we have been for some time.

Since the streaming deal was announced interest has increased dramatically. There are several high profile Ecuadorean investors who have expressed an interest in investing too.

Last week alone the company held meetings with over 30 fund managers and analysts.

Permitting is the priority and every box ticked adds to are value and takes us a step closer to delivering a producing mine. We have the required permits in fact to start the declines tomorrow.(underground exploration license)

As we progress towards a producing mine there are many milestones along the way and the company fully intends to keep shareholders regularly updated on progress ( every 2/4 weeks was mooted). Each milestone takes us closer to having a “shovel ready” project and will add value along the way.

They are confident of achieving all milestones in the timeframe required to release the subsequent $33m payments. Franco & Osisko did very stringent DD for over 6 months including speaking to government officials and were more than happy to complete the deal based on what they learned.

As far as the outside tenements are concerned they are currently looking at several vehicles for funding. Scott says there are many options and plenty of outside interest. He also quite likes the idea of a Spin out company if Cascabel is sold as a single entity though no one plan is in place yet.

They are very confident of being able to secure the remaining $900m required to complete the construction faze with off take potentially being one of the favoured options and again plenty interested.

Finally as we continue towards construction/production and derisk the project with every milestone we hit they are aware the likelihood of a bid will increase .”At that point it’s up to you guys” ( the shareholders) any major will not require a completed DFS to table a bid. As it stands based on our NPV (fully validated by the $750m) Scott stated that he thought fair vale for Cascabel was roughly “ a buck a share”. (78p)

It feels to me like we’re in pretty safe hands.

There’s probably more I’ll post anything I forgot.

I’m aware of another investor chatting with the company today who can probably addto this.

Hope this helps DBW

KRSS….. that’s exactly what they can do and everyone will know it. There is however, no rush. This means the whole thing could be funded with no need for further dilutive equity funding. Those who have Solg on their radar will be equally aware of this.

I’d like to see some of our outside tenements resulting in real returns for investors. I can see JV’s as an option so it’ll will be interesting to see how we intend to fund any further exploration moving forward.

Hi Tos

Agree with plenty of that ….. even the company have said we won’t build this ( unless you don’t believe the company)

Clearly no indication of any bids in the offing but then again

There never is …… until there is.

I think we’d all like to see the share price way north of here before anything kicks off and I’d also like to see us either realise some decent value for the outside licenses or a plan to fund further exploration.

In the meantime Scott is slowly ticking all the boxes.

Indeed …. Try and hold the gains and move forward bit by bit.

Hi Fort I thought it was 19th but now appears to be Aug 12th

https://www.msci.com/eqb/pressreleases/archive/ir_dates.pdf

Afternoon Mathers

Hi Italian

We have now proven that we can fund this thing…. Half funded already without even touching the copper, & all potentially done with no more need for an equity raise.

Be interesting to see what they have planned for some of the other licenses too . Maybe a separate funding package. Personally I can’t see us wanting a JV as it’s the quickest way to erode value.

At current prices our NPV should be nearer 4.8bn at 33% that’s 42/43p on Cascabel alone. Our portfolio of outside licenses is second to none and I can’t see them just throwing them in as part of any deal. God knows what else we could be sitting on.

The timescale is anyone’s guess but the upside is colossal.

Spot on Asher

Plenty to come here and with the likes of Franco / Osisko willing to chuck three quarters of a billion at this there will be many fund managers who need to sit up and take notice.

It’s a long road, but a straight one

ATB

If it’s something leaking that’s good ( no offence Quady)

If it’s institutional it’ll continue.

If it’s nothing it’ll drop

Add apparently Zante is nice but I spent 2 weeks in a hotel full of Germans….. does that make it a dump ?

Big like Tenerife, Ibiza etc some is great and some isn’t

Same could be said of England

If ( and it’s a big if) it’s Institutional buying…. It’ll carry on

Anyone seen Stackhigh?

Jealous of 1984 living it up in Santorini

Ha FTJNY probably lives under the same rock as Stackhigh

Mathers

We’re getting there

And one at 12.4 0nly small but 🤔

Indeed fort

Late reported 30k at 12.12 too

Copperpot apparently the first decade is the worst 😂