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Optionality remains open with a strategic review underway
SolGold is still undergoing its Strategic Review process, in tandem with cost
reductions, in which it is evaluating financing alternatives, a spin-out of assets or
a sale of a stake in the Cascabel project. The consolidation of the Cascabel
ownership structure through the merger with CGP positions SolGold well to
attract strategic investors in the assets, as well as making the Combined Group a
more attractive acquisition target for potential industry consolidators.
Valuation: GBp85/sh, 415% upside from current share price
We leave our SOT valuation unchanged at 85p/sh as we await completion of
the CGP deal and Osisko royalty. Alpala contributes ~US$2.3bn to our SOTP
based on 85% ownership and a target P/NPV of 0.8x our ~US$3.4bn DCF (at
Jun'23E, 8% WACC, US$8,500/t copper). We then add a US$72m based on 0.3x
our ~US$240m DCF for the conceptual inclusion TAM, include US$150m for
SolGold's regional portfolio and adjust for net cash and outstanding options and
warrants to derive a GBp85/sh target.
https://pbs.twimg.com/media/FiWaZu1XEAg8Trq?format=jpg&name=largel
Crikey my heads spinning, so what’s the consensus then on the agm and what will happen before hand and why should we vote with the board
As I’ve u turned a bit Solgold in 2022 has pretty much wasted 12 months and a lot of cash
A question if we were to joint venture cascabel with a major do we go straight into digging or will we still have endlesss years of studies that seem to cost hundreds of millions
This was taken from newcrest mining tweet on the 3 rd nov
“Our investments are for the long-term and require a shared vision with the Ecuadorian government to succeed. Ecuador is one of the most under-explored and highly prospective gold copper regions in the Americas.” - Newcrest’s David Larenas at
@IMARC_Mining
#IMARC
Programme:
17:00 - Opening remarks
17:05 - Ecuador's Mining Potential
17:25 - Panel and Q&A
18:20 - Financing Mining
18:40 - Sustainable Mining
19:00 - Networking Reception
Speakers:
Xavier Vera, Ecuador's Minister of Mines and Energy
Sebastian Corral, Ecuador's Ambassador to the UK
Marc Bishop Lafleche, CEO,
Ecora Resources
Fiona Clouder,
Senior Advisor, Appian Capital
Clive Line, Finance Director,
Serabi Gold
Rafael Valdivieso, Partner,
Bustamante Fabara
https://us02web.zoom.us/webinar/register/WN_3VA2rohhTNCLBV8l9XpLSw
Will be interesting to hear the equador mining minister etc
Il be topping up this week and that’s it then
Nice to see the company expressing valuations on our assets and as a whole 78 p to a £1 plus
Most of my shares are between 24-28 p, so come on with the share holder value