Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
It's okay found it.... $52m
Cornerstone's share to completion of the Feasibility Study of Alpala is debt funded by SolGold and post Feasibility Study, Cornerstone must contribute to all expenses and capital costs. If Cornerstone's equity stake in ENSA is diluted below 10%, its equity stake will be converted to a 0.5% NSR which SolGold can then acquire for US$3.5 million at any time. SolGold's debt funding to Cornerstone accrues interest at LIBOR plus 2% per annum and is to be repaid from 90% of Cornerstone's distributions of earnings or dividends from ENSA or the Cascabel concession. Currently Cornerstone's indebtedness to SolGold is US$30.5 million. The latest budget indicates that this liability is expected to reach US$52.0 million in the period to completion of the Feasibility Study.
Zoros, wrong again !!
AS soon as the BFS is complete CGP need to stump up their costs that SOLG covered for the last 10 years.. circa $85m although don't quote me on it as it could be more as I think $125 was touted by an analyst at some point...
Anyway CGP's share of the costs become immediately payable on completion of the BFS
Colonel talking dogs !!!
SOLG appointed Citi to protect any hostiles; why do you think Citi would sit on shares or manipulate the price in favour against SOLG... tripe !!! Reputation for one would prevent it and I don't know about the legalities.
The strong option now for SOLG is too rapidly bring it to BFS and screw CGP who have no funds to pay their share of costs to ENSA ...!
I'm doing okay Jerry, got a good amount here, GGP has given me a fourfold rise and still holding, OMI is about to come good and another big holding there, Actually made a profit from Val but out now, INO I doubled my dough, RMS is a good prospect down the line and small gains on my other holdings.
Mock all you like
If you are long term then as you are clearly getting high blood pressure and possibly ulcers with your about turn in the faith you had in your investment from years ago, then if your mind has changed, why are you still here.
Did you think when you invested that a mine would be up and running immediately, when you initially invested we didn't have the other 72 tenements... or did you invest at a peak when we were Solomon Gold and the Solomon Islands rush boosted the SP.
I'm disappointed at reading your woe is me comments when for years you have been relatively positive
10,749 deaths in Ecuador since Feb 15th, and still climbing.
Think there was more important priorities, plus there was the constitutional court fiasco last year.
You say no drilling for 2 years ! Drills are turning ! Update from April last year...
189,984m of diamond drilling comprising 168 drill holes completed to-date on the Alpala Deposit, representing a further 56,408m of drilling completed since release of MRE#2 with 6,654m of recent drilling with assay results pending..
Now it is obvious further drilling was conducted as it increased the size of the project through the MRE3.
The company does not need to update on assays, if it were the case we would have a news release every day.
I'm with Quady !
Earthling, you stated we are an explorer! Have you seen the business and regional updates over this last year?
Firstly, we have 72 tenements of which 6 at the minute are highly prospective and exploration continues at other tenements.
Drill rigs cannot simply be picked up and dropped off at will, they take time to move.
Have you read the updates at all?
Drills turning at La Hueca with 4 more to follow.
Permits applied for Rio Amarillo (The next Alpala)
Approvals received for Blanca and Porvenir.
Drilling mobilsed for Provenir.
Activities resumed at priority targets Chical, Cisne-Loja, Sharug and Timbara
All announced in the last couple of months. What are we not exploring...
We’ve got some 23Moz of gold in this project, and the higher the gold price goes, the more lucrative that gold production will be. There’s also obviously a very good outlook for the copper price. You’re getting to the stage where you can produce one metal, and it’ll pay for the free production of the other one in this project, which is a very handy thing from a financing point of view.”
“We are encouraged by Franco-Nevada’s enthusiasm, and we’re very confident that the offtake parties will be very interested in providing forward funding for us – those discussions are ongoing and developing. The higher the metal prices go, the bigger our margins and the more confident bankers will be about doing a lot more of this project with debt and offtake related instruments than us having to rely on equity,”
https://www.bhp.com/our-businesses/minerals-americas/cerrejon/
https://www.bhp.com/our-businesses/minerals-americas/antamina/
Want to retract BHP not holding any other shares !!!
https://www.bhp.com/our-approach/operating-with-integrity/non-operated-joint-ventures/
Upcoming Conferences and Events
15-17 September, 2020
Beaver Creek Precious Metals Summit (Virtual)
https://www.precioussummit.com/event/2020-summit-colorado/
20-23 September, 2020
Denver Gold Forum (Virtual)
https://www.goldforumamericas.com/
12-14 October, 2020
Diggers and Dealers
https://www.diggersndealers.com.au/
2-3 November, 2020
Mining Journal Select (Virtual)
https://london.miningjournalselect.com/ldn/en/page/home
18-20 November, 2020
121 Mining Investment EMEA (Virtual)
https://www.weare121.com/121mininginvestment-london/