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1984 Apologies, I should have said Barrick AND 1984 lol
RE: As if we didn't know :)11 Mar 2024 23:04
DBW that's the good thing about Cascabel, whilst some will look at it as a copper play, others like Barrick will definitely see it as a gold play. I think we'll see multiple bids this year which means it's not going to be cheap..whoever eventually wins.
Quady I agree. I posted a while back about large offtakes being agreed as they'll act as guarantees against finance and make it far easier to get. With divestment on non core assets highly likely as part of the strategic review one thing for sure is SOLG are strengthening their hand considerably in any negotiation for Cascabel or the company itself, as if you don't need or want to sell, and have multiple interested parties that want to buy, you can be sure of one thing, it'll go for a premium price if indeed it does go at all.
HFM I think people are a little confused following the recent interview. When a question was posed to him as an INVESTOR who owns 1% of the company whether he'd take 23p he answered yes. He also went onto clarify its not his decision and the board would have to put any offer to the shareholders. He also stated that although personally he'd say yes he thought the other holders (ie the other 99%) would reject it. And I'm sure he's right, they would!
1984 I would agree that an announcement is imminent, I would also say that its almost certainly going to be financial. I understand there has been considerable interest in the revised PFS and that SOLG are very happy with the financial offers they have received. What I don't know is whether their financial contentment is derived from an offer on Cascabel or whether its from an offer in their non core assets. Either way it should be very good for shareholders.
Good luck mate. I'm all in as well but contrary to what others post don't expect an RNS tonight. Think it'll take them a little while to sort.
Eloro pleased you're feeling better about things. I'm chilled as I thought we'd more through to 12p with little resistance, before attacking 16p. It also helps hearing on the grapevine that SOLG execs have a grin from ear to ear with the financial offers on the table lol. Wonder which direction they'll choose to go?? Hopefully the Cascabel one. Fingers crossed.
So you already know what they deem non core and how much they're worth? I'm impressed.
So here's how I see the current situation. Firstly I think we can expect news soon on shoring up the balance sheet. I expect this to be the disposal of most if not all assets deemed to be non core, and with that I think it'll bring the Strategic Review process to an end.
This will not only bring a further reduction in ongoing costs, it'll secure enough funds to fully derisk Cascabel for potential suitors as well as proving up the assets they wish to hold.
On derisking Cascabel we know the next milestone is the signing of the Exploitation Agreement next quarter. We also know every milestone here on in adds more value to Cascabel, as does every tick up on the price of gold, copper and silver. How long majors wait is anyone's guess but logic says they all like the asset, and why would you wait if you know its going to get more and more expensive to purchase?
Personally I'm pretty chilled with my investment and I think once we break the 16p barrier without the first bid it'll be time to get excited. Just a matter of time before everyone's back in profit in my opinion. GLA
Pretty substantial non dilutive funding coming soon which l believe will be through the divestment of non core assets, although I think they have received multiple offers and have various ways they could move forward. In my mind we can consider their finances sorted for the foreseeable future which in turn substantially reduces investment risk.
There's a reason big buys are coming in. Strap yourselves in and hold those tickets tight!
BBG thanks for the excellent posts.
My personal belief is that we're very near the end of a savage bear market and that's what will drive the timescale of offers, whether that be for Cascabel or the company as a whole. I don't think there's any major that wouldn't want SOLGs assets as there's not many around of the sheer size and scale that's in Ecuador. A generational mine that in all probability will exceed 30 years with Tier 1 potential of Gold, Copper and Silver. Its priceless...well £1 a share for the company lol. I definitely think it'll all be resolved this year, and the longer the majors leave it the more it will cost them. Personally I'm very happy to sit back and wait for the mother of all bidding wars.
There's a reason SOLG said there's potential for future integration of Blanca-Nieves with Cascabel.
There's a reason why they issued an amended highly attractive PFS for Cascabel.
There's a reason why the President of Equador flew all the way to Canada to sign the CIPA with SOLG.
There's a reason why a MOU for Sustainable Hydro-Solar Energy at Cascabel has been signed.
And most importantly there's a reason why two heavyweights from the financial world, Jian Liu (an advisor to Jiangxi Copper for its overseas M&A projects) and Charles Joseland (32 years at PWC) have been brought on board as Directors.
And we'll know the reasons VERY soon. GLA.
1984Investor and what has all your pointless rants got to do with investing in SOLG? Can't you use Facebook or X like a normal person instead of posting on here?
One of two things will happen next month in my opinion. Either they will sell Cascabel, or they secure one or more large offtake agreements that they'll secure the project finances against. I think the later is the most likely outcome.
Far too early to get excited. Still way under fair value in my opinion.
My understanding is that SOLG will bolster their balance sheet in the near future with a non dilutive finance agreement, leaving them in a strong negotiation position to conclude the exploitation agreement in June. I'm very bullish and confident.
DBW if you read my previous posts that's exactly what I've been saying, this will all be sorted next quarter. Glad people are finally starting to wake up.
People can either listen to the trolls who have already stated they are not invested and never will be, or they can listen to the Ecuadorian Energy Minister.
"THE ALPALA MINERAL DEPOSIT COULD BECOME THE LARGEST UNDERGROUND SILVER MINE, THIRD LARGEST GOLD AND SIXTH LARGEST COPPER IN THE WORLD.
Personally I'm holding my shares so tight my fingers are white lol. GLA
Add we now know from yesterday's press that the Ecuadorian government is signing off the Exploitation Agreement which means Cascabel is definitely being built. We also know the $3.2bn finance and clarification of ownership must be submitted in advance of that to ensure approval and sign off.
Furthermore we know SOLG have stated they will publish details of the Exploitation Agreement by year end, end of June. And we also know from the Technical Report that numerous offers of finance have been received for both SOLG themselves and for the Cascabel Project. So the question is, why haven't they taken up an offer of finance to bolster the balance sheet and support the SP.
In my opinion it's because they ALREADY have an acceptable offer for Cascabel or the company on the table (which is why Noboa signed the recent agreement) and all that remains is who counter bids and what the final price will be.
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