Member Info for mattlilly

"The Harvard Kennedy School graduate focused his campaign on creating jobs and the economy, recommending tax exemptions and incentives for new businesses as well as pledging to attract more foreign investment...."

Https://www.theguardian.com/world/2023/oct/16/daniel-noboa-wins-ecuador-presidential-election

Why Latin America matters

The energy transition is becoming the most important economic trend this century. Whether you believe in climate change or not, it’s clear that government pledges, such as the UK’s commitment to be carbon neutral by 2050, combined with corporate pledges – for example Toyota will no longer make traditional internal combustion engines from 2040 onwards – will funnel trillions of dollars into the energy transition over the next few decades. And Latin America, which is home to huge reserves of the critical metals needed for the transition, will be the main beneficiary.

Electric vehicles use far more copper than cars with internal combustion engines and the International Energy Agency believes that growing EV production means the world will have an annual shortfall of 2.4 million tonnes of copper by 2030. That’s positive for Latin America, which dominates copper production. Peru and Chile are the world’s largest producers of the red metal and their 40% share of global output is a similar to 13-country Opec’s control of the oil industry. The region’s share of the world copper market is likely to increase in the coming decades as geologists believe that Ecuador and Argentina could eventually mine as much of the red metal as their neighbours. At present Ecuador only has one large-scale copper mine, while Argentina has none. But a pipeline of multibillion-dollar copper mines is set to come online in both countries, which will catapult them into global top ten copper producers by 2030.

Green hydrogen is the way to go...for the time being I've gone hybrid...makes sense...

Look at those after hours trades....including 670k at 10p...

Together with the UT, account for more than 50% of the day's volume...

Somebody's mopping up all the weak sellers...

Oh dear...there goes my great white hope...

However, "we know Solgold well..." menas they've run the rule over it...that augurs well for interest from other Miners...

They could make it easier if it was Mitsui and one other...publicly declared interest...

No love lost between Newmont and BHP...but they and Barrick are easily big enough to buy this and fund the new phased mine out of petty cash...

US investors are torn on long bonds...some see c5% yields as unrepeatable...more sanguine commentators look at the funding stream to come and the prospect of QT next year.

The dollar has been a busted flush for years...China has steadily reduced its exposure to US Treasuries...me and Mrs have £250k exposure to gold mining...not including SOLG...

BenAlder...I think SOLG is more attractive as a takeover now...

Revised Initial Capex is $1.2/1.3bn...chump change for a major(s)

For perspective...todays Bought Volume is c250k less than the Directors' total purchases last week...so far...

DM, why not listen to the whole interview as i have done twice now.

Then you will be in no doubt what Scott means, no matter who is chairing the Committee...

Bob Sangha is running it, not Dan Vujic...

Addickt...you and I and one or two others here are very experienced in these matters and I thonk we may have misconstrued the 'Strategic Review'.

In our world it when the Board, assited as appropriste by outside advisors, sits down to determine the way forward.

What Caldwell means is the whole process which results in a sale or development of parts or the whole of Solgold, including especially Cascabel. So that includes sale or JV of any or all of the outside projects; the sale of Cascabel or indeed Solgold, etc.

It does not include the 'revised PFS' which WILL be published in Q1 and which he expects to inform the 'Strategic Review" which is in the hands of any or all of the parties in the data room.

Once any or all of the above outcomes have occurred and/or nobody buys or takes any interest in any of them, SOLG will be in a position to determine whether they will have to take Cascabel forward.

Hope this helps...

To be fair to them, they wouldn't have been able to buy before 29 September (th end of the Close Period for the Annual Results).

They have bought 1.64 million shares in a thin market and, while Twigger paid 9.9p in London, Stackhouse paid the GBP equivalent of 11.06p in Canadfa and Caldwell's all in costs were equivalent to 11.89p/share.

This illustrates the difficulties we have all had acquiring reasonable amounts.

As it happened, Twigger and Stackhouse were buying on the same day I had to pay 9.77p average for three 50k tranches...

You're right DM...its the revised PFS in Q! + a Technical Report.

Relevant bits of the interview reproduced below:

https://www.youtube.com/watch?v=prjh454RtxE

"We call it (a joint venture or the sale process) the Strategic Review Process and we are looking at all sorts of options from joint venture or earn in on our outside exploration tenements or a concentrate takeoff of Cascabel or anything thereof and yeah it is one of our key mandates to continue to advance the Strategic Review Process.

It started in earnest right after the close of the Cornerstone transaction so that would be March...thats when we got the Data Room active and open and started to sign NDAs with various parties.

Theres a number of parties interested in the projects whether it be outside projects or Cascabel. We have signed CAs, we've had site visits, you know it continues to advance with no set timeline and a lot of interested parties have taken a look.

Revised PFS completed in Q1....("And we'll release the Technical Report at the same time, not wait the 40 days.")

"Much lower initial Capex...$1.2/1.3bn..."we'll truck the initial production rather than use the pipeline because the concentrate will be lower. it reduces the development schedule...We think that will be well received..."

The key catalysts over the next few months?

"Number 1 would be the Strategic Review...thats out of our control but like I said we're looking at all aspects of the (SR) but thats out of our control and we'll see where we go with that.... I think a key catalyst will be this phased approach

"(The Exploitation Agreement will be) signed by the Lasso Government..."

So that must be imminent.

Hope this helps...

JG. If you read my summary of Scott's Kitco interview, he was very clear that the Strategic Review will be completed in Q1

FOMO rules...

The ultimate driver of US Markets...e.g. FAANG and Nvidia...

Ecuador doesn't yet rank in the 20 countries with the biggest copper deposits in the world...

https://finance.yahoo.com/news/20-countries-largest-copper-reserves-142448262.html

https://www.insidermonkey.com/blog/5-countries-with-the-largest-copper-reserves-in-the-world-1156458/5/

And neither it nor Oyu Tolguei make this list (Alpala 12.6MT)

https://www.mining.com/featured-article/ranked-worlds-biggest-copper-projects-2023/

However, maybe Newmont can save the day...

https://www.wsj.com/articles/newmont-agrees-to-acquire-australias-newcrest-for-17-5-billion-30fe3300

But we should rank No.10 in this list of Gold prospects...

https://www.mining.com/featured-article/ranked-worlds-top-ten-biggest-gold-projects-2023/

And that...plus the markets correlation of SolGOLD with the gold price, could ultimately be the driver here.

I would still love Barrick to be our ultimate buyer...

https://www.miningweekly.com/article/worlds-no-2-gold-miner-is-trying-to-get-bigger-in-copper-2023-06-19

Or kerb...

Fort...he mentioned possible JV in relation to the 'outside'projects. I suppose that might include Porvenir, which if so would give a fillip to the SP...

From the MD&A...

"Management intends to raise financing prior to June 2024 in order to maintain a strong cash position."