Member Info for KB007

Found the term sheet on Sedar... dated 24 February 2014 (3.6.b.2)

Page 10 - "CGP agrees that it will give SOLG 5 Business Days notice if it proposes to sell all or part of such SOLG shares, to enable SOLG to determine if it can identify an appropriate buyer(s) of such SOLG Shares and in the event that such a buyer(s) is identified, CGP will agree to sell such SOLG Shares to the identified buyer(s)"

Initial Agreement

Within 90 days of completion of the BFS, subject to Exchange approval, Solomon Gold shall issue to Cornerstone, at no cost to Cornerstone, ordinary (common) shares of Solomon Gold equal to 2% of the ordinary (common) shares of Solomon Gold then issued and outstanding. If Cornerstone fails to fund its proportionate share of ongoing expenditures and its interest is diluted below 10%, such interest will be converted to a 1% assignable Net Smelter Return ("NSR") on the property. Solomon Gold may purchase the NSR from Cornerstone on the following terms: Half of the NSR for US$1.5 million within 90 days following completion of the BFS; and the remaining half of the NSR for US$2.0 million within 90 days following a production decision.

DinBoy! I would have thought so however don't know Canadian market regs.

Just tweeted SOLG so they are now aware and would need to notify the UK market, I think.

Tweeted SOLG

Has anyone asked if SOLG was aware that CGP sold 11m of their holding.

CGP still show as holding 8.85% of SOLG however that does not include the 11m sale which equates to around a 6.5% disposal by CGP

sale of 11m could have been the reason for the drop all the way down if they didn't inform the market.

Bit underhand

Funding has to come next week or we could be looking at taking another small term hit!

nothing there that wasn't in the RNS!

IMO the $150m will be included along with detailed funding on development costs. Yes it might be distributed in lumps but the agreement for full funding will be there. Cannot see separate companies offering different packages for different stages.

SolGold is also pleased to have received material offers for funding in exchange for offtake from a number of traders in their recent EoI submissions. Offers included the provision of both short-term and longer-term capital with proceeds available for studies, mine construction and cost overruns as well as working capital during ramp-up.

Yep! It's going to production...said it for years.

Within two weeks the Alpala project will be fully funded to completion.

Are BHP and NCM gonna come with an offer prior to that funding arriving? Don't think so!

An offer after the funding arrives would have to mahoosive!

Bhar

What not leave it a "Pitter - Agree and hope so"?

Is the doom-mongering at the end necessary?

lol just deflect the anger Bhar

Have held OMI since June 2018 and if you check my posting history you will see that.

Have quite a significant holding in OMI but only down about 40% not the 90%+ that I reckon you are.

Never buy on a spike....wise clergy words :)

I have seen it with SOLG and your approach is the same.

There is one answer - sell... if you are getting ulcers and can't see the wood for the trees... get out.

I'm tired of reading your negativity ...Day in! Day out!

I get a notification for news and I pop in... sorry.

I'm annoyed I'm having to wait for the BOOM but it will come... so relax!

Maybe more than 13p then.

Please stop bashing the share then!

That was only to post the RNS.

You were upbeat well over a year ago and bullish.

Now you just procrastinate and call down everything.

Got in too high! I understand... but don't worry it will rectify itself.

Just popped in since a long time and your demeanour has changed dramatically.

Turn that frown upside down !

Yawn!!! Bhargav be patient!

Colonel, don't worry there won't be an equity placing IMO.

Don't be surprised if the whole $150m comes as part of the offtake agreement and likewise if the funding for the mine build is not included

We reported on March 11 that we will need to raise $150 million to complete the feasibility study and for regional exploration and there are no changes to that, so within the next couple of weeks we plan to do a financing he said.
Hofmaier would not comment on whether the financing will be a bought deal, investment by strategic investors, or a private placement.
The completion of a feasibility study for Alpala is likely to experience delays due to travel restrictions and quarantine measures related to the COVID-19 virus outbreak in Ecuador.
Ecuador has been the worst hit country in South America and so we are missing some inputs due to our reduced activities [on the ground] such as environmental monitoring, land acquisition, studies for tailings and geotechnical holes, he said.
The November 2019 PEA outlined an average of 810,000 tonnes per year of concentrate in the first 15 years of production from late 2025 grading 28.2% copper, 22.1 grams per tonne gold and 65.7g/t silver containing 230,000t of copper in concentrate, 580,000 ounces gold and 1.7Moz silver.
Hofmaier was confident, however, that the company would be able to put a project financing plan in place this year given the overwhelmingly positive https://www.mining-journal.com/capital-markets/news/1385058/solgold-receives-interest-received-for-alpala-concentrate expressions of interest it has received from smelters and traders for the copper-gold concentrates the mine is expected to produce.
Not a single expression of interest had worse terms than we put in the PEA [preliminary economic assessment] so we know the market really wants this product. We will take a balanced approach between traders and smelters. The offers of some smelters have attractive funding attached. It is very clean with low levels of deleterious elements and the high gold content and long mine life mean it can be an important part of their smelter feed for decades, he said.
Hofmaier said he expected to respond to short-listed companies next week and enter into more detailed conversations with the aim of receiving memoranda of understandings. However, completion of this step will be difficult to achieve until travel restrictions in Europe and Asia are lifted.
We can do a lot with conference calls but as these are essentially partnerships we have to go and meet people, especially in Asia and the three major European smelters, he said.
Shares in SolGold are trading at C35, valuing the company at $673 million.