Member Info for Jerryspaniel

I asked for 1.5m. Got 910892.

MartinN, copper is a credit, that is it reduces the aisc, so gold mines with more copper and any other payable metal will reduce the aisc. Telfer has little copper, so its aisc is much higher.

I hadn’t appreciated that Sirius had 8.4m ozs of gold under Yorkshire and a plant in Scarborough to process that. Is there still 425,000 ozs of gold in Scarborough high street?

Thought not.

Morning Sojourner. I dont think the Asx will be much different. Nor NYSE or TSX. Its just what they do. On the subject of the Asx, I am not sure why the need to list there in next 6 months, unless we are buying Winu then? Would like to see the Cu price much higher than 4.15 if that was the case. Defer to others on the merits of trucking 0.80% cu ore all the way to Telfer.

Morning HG. The problem that Roger has is that this transaction has reduced his buyers to precisely one.....which will allow GGP to do to him what the London market did to GGP.

The facility to buy at 4.80p with HL has just come through. I will be filling my spare of boots. Lots to like about the deal. The 4.80p is a bit of a kick in the teeth but blame that on the London market in general and not Shaun. No wonder London has lost its place in the financial world.

I see the above has just swapped an investment with OMI for an NSR on the deposit. I wonder if NM would be open to swapping out their shareholding in SOLG for something similar?

Seems like NM are starting to tidy up some of their smaller investments.

With London about to lose Centamin after its takeover was announced today, there will be a big hole in the London listed mining cohort. With GGP looking like it will raise some equity and become one of the larger listed miners in London, there is some logic to think that Centamin holders will move across to GGP in the equity raise, especially if that comes with a move to a main listing. Then GDX can provide some nice follow through in the months to come, as they will lose Centamin too.

Might be tough for the shorts to cover unless the equity placing doesnt have the demand that we would all hope.

Welsh, great analysis. At last someone gets it. This has been Shaun's gameplan since he joined GGP and discovered the mess than Gervaise left him in. Through intelligence, great skill in negotiations and some luck (the gold and copper prices) Shaun will be buying back the farm and some for not much more than has been spent and the gold price is $1000 higher.

Hopefully the equity stays in sticky fingers and the Asx, tophat etc comes next year when we are multiples of where we are now and no cheap shares placed in Oz.

Still some things to tidy up but this looks a cracking deal and rewards my patience and (too) large a holding. GLA!!

1984, its gold AND foreign currencies, not just gold.

1984, if the price of gold is going to $8,000, should I buy a new suit?

The stock relies on news to keep the marginal investor content. I think that most at Solgold realised that this period was going to be tough due to the lack of news post the $750m. So the sp has sunk back to where it becomes a great r/r for the larger players.

For the rest of us we will just have to continue to be very patient.

It’s an advert for the perennially up for sale Antipa. They are at the end of the queue imo.

Speedy, great words. Couldn’t agree more. October 30th will be the day the UK commits financial suicide, and the start of the great emigration.

Colonel, if we had kept all the exploration staff, we would be bust by now. They had to fire them till there was enough cash to go to the next stage.

The adage of 'explore with equity, develop with debt' still rings true. So at what level would you liked to have issued equity and for how much, so as to fund a drilling campaign?

No money for exploration and no exploration geologists to decide where to drill.

Not sure why I am bothering with this Quady, but I have spoken to and listened to quite a few miners in past five years or so. Block caving is a specialist skill that resides with a few mining houses and no one else. Two or three companies at the most. But obviously a lot more will have acquired the skills in ten years time when block caving will be needed at Alpala.

You paint an incredibly simplistic view of Alpala. I know for a fact that it’s incredibly complex and has caused some companies to pass up the opportunity.

Pbow, I think he is same age as me and I have been retired for 20 years!

He is probably looking for a nice payday and retirement in Toronto. But I am sure it’s a much longer journey than he first thought.

Ok Pbow, I know when I am defeated by evidence!

But I think the important point you mention is that they dont want to.

I agree that they need to continue to do as much as they can within their financial and technical limitations to appear to be prepared to be a miner. I think that stops at permits and licences. Buts just an opinion.

Add, I wont as I think thats what he craves.

Pbow, I certainly bow to your far greater knowledge on these matters. So thanks for the comments.

My reply from a laymans pov would be that its probably a lot easier to build railway on a flat bit of desert than an underground mine in the jungle in a 3rd world country where costs are critical and in a way that allows block caving which few companies have any knowledge of.

I am not sure that they know what to ask of a PM company.

But its a pretty moot, as it aint going to happen anyway.

Eloro I am far too old to be employed by anyone. Woof woof.

Quady, I think others have rubbished your post better than I can.

Fact is that Solgold wouldnt be able to draw up a shortlist of candidates , ask the important questions and select the company best suited to deal with the unique characteristics (which they dont understand) of Alpala.

My guess is that the 'engineering department' or whatever BHP calls it, is probably many hundreds of people who know what they are doing. Maybe they dont have employees with diggers, jackhammers, boggers etc, but they do have people who can monitor the companies that do.

Your simplistic view of the issues is either charming, naive, or just plain daft.