Member Info for KB007

03:50 into presentation ... note the words
"streams might dent cash flows, but they don't dilute shareholders or takeover premiums"

Can't remember who I had the argument with in April but clearly no shareholder dilution if we go down the streaming route as I stated previously.

Who cares about a net smiler return if the commodity is coming out the ground

Might not be any interest applied if they go down the NSR route

It will come....or maybe Twigger's Gold Company might take a stake in Bianca

Also said it in April :)

Told you guys the other week that funding would be down the lines of royalty streaming!

Alan Martin played a blinder!

That's what I know.

Think a few speculators are hoping for a TO of CGP (Namely Warren Irwin)

Alan Martin got a good one over on H. Brooke MacDonald when he drew up the earn in agreement and IMO H. Brooke MacDonald probably didn't think Cascabel was going to be as big and therefore the large costs didn't really factor at the time.

Nice one AM

In layman's terms.

SOLG ask CGP to stump up their costs for the exploration on completion of the Feasibility Study.

CGP can't pay but say "Hey, NCM want to buy us out and they will pay for the exploration costs once TO is complete"

SOLG "Sure, I don't mind waiting for our costs and we'll just forget about snapping you up for $7.5m"

CGP "Why thanks SOLG, your a buddy"

SOLG "Eh, screw you! I was being sarcastic!"

No bids for ENSA!

Any TO of CGP wouldn't give the takeover company automatic rights to the 15% of ENSA

Read through the term sheet for the earn in agreement, notably transfer of interests.

SOLG needs to approve any proposal from an outside party in respect to the transfer of Cornerstone's 15% in ENSA should there be a TO of Cornerstone

If CGP cannot pay the exploration fees then SOLG can snap up the remaining 15% for $7.5m

PS.. Note the streaming finance comment of over $1 billion that would eradicate the financial overhang

Spoke about it earlier this week :)

https://www.redcloudfs.com/wp-content/uploads/2019/10/20191028-SolGold-Metallurgical-Update-.pdf

Solgold has first refusal on ENSA.

Available on www.sedar.com is the term sheet from 24 February 2014 that was filed on 13 July 2017

Page 10 - Section 3.6 (b5)

"SOLG shall be granted a first right of refusal over the remaining holding of Cornerstone in ENSA"

Don't know if the link will work for you guys but here it is:-

https://www.sedar.com/GetFile.do?lang=EN&docClass=13&issuerNo=00043090&issuerType=03&projectNo=02649566&docId=4148457

Hi Mog!

It was in response to your statement that CGP don't need to pay until there is cashflow from Cascabel.

That isn't the case, it's when all exploration is completed not when the mine goes operational

No Mog!

Solg to carry CGP's 15% costs until BFS! Means Solg are paying CGP's share throughout the exploration stage.

IF CGP cannot repay it's share of the costs at feasibility and their shareholding is below 10% then it gets converted to a 0.5% NSR.

The best bit is that if CGP fail to pay then Solg can get rid of the NSR and any future royalties for $7.5m

I stand corrected Mog!

Thought it was PFS stage

Only a year to wait then :)

Once the MRE3 and Feasibility Study is complete in January, CGP have to fork out their 15% share of the costs.

How many million is that? Enough to bring BN into production?

Who knows!

Agree Copper!

Bianca Nieves could get up and running with as little as £2 million within a short timescale

If they had wanted just a fund raise via BHP or NCM there would have been no need to appoint Ingo!

They appointed Ingo Hofmaier in July...why do you think?

Do you think he's just sitting on the board getting paid for doing nothing?

He will, no doubt, be tirelessly working in the background trying to get the best deal for SOLG

The guy knows his stuff.

Patience folks...Patience!