Member Info for Jerryspaniel

Given NM has flagged what he will pay and it’s a pretty easy calc given CGP don’t have much else - will potentially have more with solgold not sure there is much profit potential in cgp. Of course he could overpay which might be a good hedge against that scenario.

SST. Anna said that the Conf call would be around the time of the PEA. If you think this will be when NM is in London then it will be the week of the 121 Conf which is two weeks next Monday. But that is making some assumptions!

Stop losses are incredibly dangerous on relatively illiquid shares like GGP. Fine for a FTSE100 stock but I never use them. Its not uncommon to see MMs try to 'trigger' stops given that they are sitting on the orders.
Whether your plan would work for sale orders above the market I dont know. If one placed a sale order at say 4p would that stop a MM lending out your stock. I doubt it.

Well doubling the resource from here would be impressive. Makes it even more unlikely they could develop it imho.?
They could then sell alpala for fat price and move on to the other 72 prospects...yum yum

Thanks FTJNY. Never having worked for the Govt nor the Forces, I am not a fan a TLAs let alone FLAs!!

The quote regarding the 121 conf in London is '....we are currently planning for Nick to be in London during that week....'
Admittedly there is a little bit of wriggle room, but its clear to me that atm he is going to be in London.
As I said the conf is 20-21 May.

I am sure its only telcon. I have no idea what PITA is though I am sure its very funny.........

I have had an email conversation with Anna about a potential meeting with PIs.
She does not think it appropriate to hold an exclusive meeting with a few PIs. However she does plan to hold a PI conf call around the release of the PEA. I can see how this makes more sense for them.
She also said that Solgold aren't planning on attending the 121 London conference but NM will be in London that week for a roadshow organised by Anna and their advisors.
So one could make the assumption that the PEA will be released around the time of the 121 London which is 20/21 May. That assumes that NM will be on the conf call and wont want to call in from Brisbane, and wont be in a suitable timezone at any other time soon.
She also said that Jason Ward and her will be attending the 121 in NYC in June and that there are no plans for NM to be at the conf or in NYC.
Trust that this clears up a few questions folks were raising.

So is NM coming to London in May or not? Is he going to NY instead?

Ok. I am in Malaga till Sunday but will get the ball rolling with Anna and see what gives. If she is reading this then perhaps she can let me know!!

I met with NM at the M&M conference in London last November. Maybe we should ask Anna if we could have a group meeting with him and like minded PIs? Always easier if we have more than one person at any meeting.
He ought to be able to clarify things, explain his tactics and reassure us w/o breaching insider laws.

I am with you 100%. I said to Anna that they had broken promises, and she replied that they hadn’t made any promises. So they are now playing with words. And I no longer think this is a short delay.
They continue to disappoint me. If this cavalier attitude to s/holders continues many will move on.

I use HL mainly. Great website and they have to be on top of their game to survive and be a leader. Also use Barclays. They have had a stack of problems but are slowly sorting themselves out. All brokers should facilitate a move.

Someone did post that NM was coming over to London in May. I would have thought that the trip would coincide with the conference. He used to like doing presentations and picking up awards, till he became a mute monk that is.

Royalty contracts = Wonga for junior miners.....

KB007, I dont doubt that in the fullness of time that this is going to production as you say. If you seriously think that Solgold will be a miner and that they will be the owner and miner of Alpala, then I would be intrigued to hear how you think they can do this.
For the record I am no mining engineer, nor have I ever worked directly for a miner, tho I did work for a division of Cons Gold many years ago. As a complete guess I would be surprised if they didnt need to employ 100+ staff on mine design, engineering, etc before the many hundreds on actually getting the excavators etc in and digging. I would be equally surprised if this didnt cost US$2 billion, especially when you look at the money Rios had to put into Mongolia and the extra they have just announced for mine expansion in the US.
Even if my numbers were twice any budget, I still fail to see how Solgold could get finance for this. I mean, would you lend these sort of numbers to a company that has zero experience, no cash or cash flow and one asset?
Given the cards he is playing with I think NM is playing it the best he can but BHP and/or Newcrest must be thinking this (Alpala) is their baby once Solgold has de-risked the investment a bit (and if that has to cost them a bit more also, then thats a small price to pay).
The best outcome for many would be if Solgold became BHP/Newcrests exploration arm in Ecuador. Not sure whether NM could stomach that though. Just my musings as usual.

Just to chuck my tuppence in. I cant see how NM can take this to production. The company doesnt have the skills or knowledge necessary to be a mining company and would have to ramp up hiring and expenditure massively. This would be a one mine company so would have huge specific risk for the banks, so would have to be mainly equity financed. So enormous equity issuance and dilution. Lets face it they cant even get a PEA out on time.
I dont blame NM for stating they will take to production and he may try and do some small production in his go for gold strategy. The longer he can string this out the greater chance of a higher value, but the end game will be a sale of Cascabel (my preference) or Solgold to a consortium of NC and BHP and maybe the government. I would guess that this may happen in 6-12 months time, especially if they can get some drill permits for other prospects. Obviously IMHO!!
I think CGP is a side show. Any buyer of 85% of Cascabel can do pretty much whatever they like with the asset. They can also make CGP an offer which wont be great, as where else will the CGP s/holders go?

You could be right, but it would fly in the face of everything that NM has said.
It would be a brave person to cash in the only tangible asset that you have without even having drilled one hole on any other prospect. Personally I would put the chances at about 5%.
Like addicknt I do think there is/was a problem with the PEA and time and more drilling may solve it. I also think they seem to be having trouble sourcing an English/French dictionary which quite honestly beggars belief.

How can they have ‘found a second huge resource’ when they don’t have a permit to drill? Maybe they have found a prospect but I don’t think it can be called a resource.

Seems that every trade since the news broke was a sale. Clearly not the news that some people were hoping for. Marked up into quite a bit of selling. Who is going to buy the shares to take out these committed sellers?