Member Info for Jerryspaniel

Strangely I think the news this week is marginally more bullish in the short term. If this plays out as I think, and hope, Solgold wont be able to get any finance for developing the mine, neither from bond markets, bank finance or the equity markets (now the price has fallen so far). The only place that could conceivably offer some kind of finance would be the large commodity trading companies who could offer some finance in return for a cut of the production. The implied rates would be criminal but thats about it.
So the logical thought from there is that NM will have to sell the stake, or part of it, to BHP/NC who can develop the mine w/o recourse to extra bank debt. This was always my preferred solution and the longer the protests go on, the more I see this as likely. Probably wont get top dollar now but should get multiples of mkt cap, and do a distribution and off to Porvenir, Blanca or wherever with a few drills.
NM keeps banging on about being a copper/gold major. It wont happen now and he needs to remember what got him where he is - exploration, exploration, exploration...
Otherwise he is danger of losing control of his (and my) company. IMHO.

Aandi, if those meterages are correct that is 3.4 times larger, not just double.

One thing that might have been interesting was he said they were about to drill xxxx (can’t remember which). Doesn’t really matter where as he doesn’t have a permit for anywhere other than Alpala. So does this mean that permits are about to be issued or is ‘about’ the same thing as ‘imminent ‘? Ie some time before the next ice age.....

He is no stand up comedian but when he said the cgp bid was imminent, I cracked up.
Mind you the rest of audience had nodded off I am afraid.

Tuju sorry. Bloody autocorrect!

Tiki. Lots of demand cos of new technology. 3-15 times more cu needed for equivalent new tech usage. Not much copper. Price too low to encourage exploration. Juniors find mines and majors buy them and develop them...(obv nm hasn’t read this bit!)
Not much support for exploration finance for junior miners.
Price forecast of 8800, 40% up. Complete decarbonisation by 2025 would need 20,000 dollar cu!
Forward cu curve is flat. Something has to give.
That’s about it I think.

Aye. Thank you for finding link.

V interesting article in ft today about copper and it’s future. I am in a bar in San Sebastián atm so cant post link easily. Hopefully someone else can.
Talking price needed of $8800 pmt a 40% rise from here. Nice.

I am in massive shorts, but I am on the beach in San Sebastián!!
Just topped up at 1.70. Will continue scale down....

And what did Anna say when you sent her this message, addicknt?......

Given that the assets are priced in dollars any weakness in cable for whatever reason should be +ve for the sp in the long term.

VTID, I am sorry but you better explain how selling short to keep the price down allows mms to increase their holding?
It’s a ridiculously dangerous game to play and would only work if they could trigger huge stops. Whilst it’s ranging between 175 and 195 that isn’t going to happen.
Sellers sell, buyers buy and mms facilitate this by making a mkt, nothing else.

Surely the higher the au price, the price in the ground should go up exponentially, given relatively static costs?

I think solgold and ggp are completely different animals. Solgold want to be a miner for some reason. I think ggp know what they are and that’s an early stage explorer. Find something, farm out, prove up, sell and move on. It won’t get the most money but it’s much faster and allows ggp to operate on multiple levels at same time.
It’s a time value of money thing and I think ggp has the better plan. IMHO!!

Volvic. GGP are a very long way from getting in the ftse250. Firstly the mkt cap would have to go up about tenfold. Secondly it’s very unlikely they would get a premium listing (the old full listing) as they can’t show any income. This latter point is what has precluded Solgold from getting into the ftse250.
Getting out of AIM is not the panacea many think. Firstly there are probably more funds following aim stocks than standard listed main shares, and secondly we would all have to pay stamp!!!

With a fully diluted 4 billion shares in issue, that would make them one of the biggest miners in the world. Wonder how many ounces in hav? A few billion....?

I think there is a very clear strategy Matt. Just not a get rich quick strategy!
My problem which is entirely personal to me is that at 63 I wonder whether I will have time to spend the money that their strategy will make me, in the distant future!

Parkez, all options vest etc is a normal clause so I wouldn’t read anything into that.
The market knows that drill results are due and presumably results not known, so I would say they are not in closed period. There is no price sensitive information known to the bod that is the inference of these options.

Prospector, you are absolutely spot on with your comments and analysis imho.

Hi serge. Sorry for lateness but been on a flight. GH has shelled out the option premium to buy the shares. Small amount compared to holding but he now has more risk than if he just held options.

1. There is no buy out. All directors would be in jail for giving themselves options today if they were working on that.
2. GH exercising options before he needed to is quite a bullish sign.
Some of today’s discussion has been silly at best, really ignorant at worse.