Member Info for mattlilly

Https://twitter.com/NateGeraci/status/1659364293114994690/photo/1

And pigs might fly...

As an aside...firmly bid for 300k...

Part 2

"The Miocene property lies adjacent to Mirasol Resources Ltd.’s (“Mirasol”) Titan project. Cornerstone’s concessions are

located on an extension of the mineralized trend of the Titan Project and shares the same geology and surface indicators as the Titan project."

Cornerstone has an option and farm-in agreement with Newcrest.

"On 14 June 2016, Cornerstone announced that CESA entered into an agreement with ENAMI, Ecuador's state mining

company, creating a structure for ENAMI and CESA to prospect and explore for mineral projects in Ecuador using

Cornerstone's proprietary geological data base...On 6 March 2017, Cornerstone announced that on 3 March 2017 Ecuador's Ministry of Mining granted ENAMI eight concession titles in the Imbabura and Carchi provinces...In October 2018, Cornerstone completed an airborne magnetic and radiometric regional survey on its Espejo, Playa Rica and

Rio Magdalena Blocks, which are currently under ENAMI-CESA Strategic Alliance."

"Cornerstone has incurred expenditures in respect of the ENAMI-CESA Strategic Alliance totaling approximately CAD

$17,384,276 on 31 December 2022, all of which is exploration expenditures. Exploration work to date has consisted largely of geochemistry work (both soil and rock sample work), prospecting, and geological mapping, and on 18 June 2022, the Company issued a news release outlining strong rock sampling assay results which confirm the potential of Cu-Mo and Cu-Au porphyry targets."

It is understood that CGP/SOLG plan to continue exploration of the Espejo, Playa Rica and Rio Magdalena blocks.

On the day before the CGP merger was announced, the SP was 17.46p, valuing SOLG at c£400m...

The MD&A states: that the merger valued CGP at £96.7m...

The current MCap is £538m so...at face value it seems that the merger has added an incremental value of c£41m at current SP, over and above the ascribed value...

"The Company continues to pursue its strategy as an integrated explorer and developer..." (NOTE Not a miner Quady.)

"the Company has until January 4, 2024, to complete the negotiation process (on the exploitation agreement for the Cascabel project) with the establishment of a non-binding term sheet..."

"US$15,471,936 transaction costs (US$7,963,098 incurred by SolGold plc and US$7,508,838 incurred by Cornerstone Capital Resources)." So we only incurred half...

The "Finance costs" for the quarter ended 31 March 2023 of US$3,797,545 are a non-cash, or 'notional' item unless we withdraw from the NSR Financing...

Exploration costs during the previous 9 months were minimal at c$41k but interestingly relate to "the costs capitalised to date on concessions held within the Company’s four 100% owned subsidiaries in Ecuador that were relinquished during the quarter." I.e. we relinquished four concessions...

2,558m of drilling was completed at TAM in the three months ended 31 March 2023.

437m of drilling was completed at Moran in the three months ended 31 March 2023

"..field programs are continuing at Helipuerto with an initial focus on the delineation of the size and tenor of the new Tinkimints copper prospect....mapping and sampling the area directly south of Solaris’ Warintza copper-gold porphyry discovery that abuts SolGold’s Helipuerto concessions....Exploration completed in the area south-east of the Warintza South defined a new target named Juank"

There will be "follow-up drilling" at CGP's Bramaderos and "The Company (CGP) believes its 100% owned “Shyri NW” concession, the site of the Vetas Grandes prospect, has the potential to host a significant epithermal-style gold-silver deposit."

Cana Brava has a binding farm in agreement with Newcrest. "The Company has the right to earn a 100% interest in the Caña Brava project in return for cash option payments each 6 months..."

"Cornerstone acquired the Tioloma property in March 2017 for strategic purposes; the property wraps around three sides of the Caña Brava property..."

"Bella Maria borders the NE boundaries of Lumina Gold’s Greater Cangrejos concession (Cangrejos has an Indicated mineral resource of 568 million tonnes of 0.73 g/t AuEq, with 10.4 Moz and 1.4 Blbs Cu). Initial results indicate that the property has excellent potential for hosting significant gold and copper mineralization..."

"The Miocene property lies adjacent to Mirasol Resources Ltd.’s (“Mirasol”) Titan project. Cornerstone’s concessions are

located on an extension of the mineralized trend of the Titan Project and shares the same geology and surface indica

If we leave out the 20m plus day on 28 April (was that Blacrock's last hurrah...?)...

Average volumes for the last 18 trading days have been c2.2 million

We seem unlikely to break 100k in the first 2 hours today, with only six non ALGO trades in the first 90 minutes.

So it seesm we are back to waiting and watching...again...

The quarterly report, whilst staing that we have no cash problems before June 2024 at the earliest, also implies that nothing much is going to happen either...

Which means we are mostly waiting for Bob's 'retail' process to come up with the first bid...

Hopefull that means more opportunities to trade the shares at the margins to try and increase the otherwise zero return formholding the shares. Indeed the only consolation at present seems to be that SOLG is not falling significantly whilst shares in general are going down (and likely to fall further, with the Debt Ceiliing impasse , renewed fears of recession and the growing credit worries in the US occupying investors' minds...)

Have a good day

"$500 million..." LOL

Agreed.

Ah...the low SP...

The irony is that this is probably down to NM and his pals...

He was sacked by BHP and NCM as CEO, but survived as NED (hardly 'independent') thanks to we who have pinned our Hope's on him whether we like him or not...with so much skin in the game, his claims that he wants Asset price rather than Market price, appeal to our greedier instincts...otherwise why hold on...?

Because when you look at good NEDs like Keith, Kevin and Elodie resigning, you wonder what has gone on?

Clearly NM hated BHP and NCM, but what has it cost us in his pursuit to give them a bloody nose? He clearly still thinks he can flush them out of the woodwork and it is reasonable to ask why neither had sold out despite their steady dilution...

Ah, the dilution...and the reason why we are stuck at half the price of less than a year ago...

Surely it all goes back to the hatred of BHP?

It seens clear that NM and his allies wanted to do a cash box last June but Ingo and Ayten resisted.

Because potential investors were sounded out about a cash box and declined, there had to be a 'cleansing statement' and this funding debacle brought the SP down...AS followed, with Darryl not far behind...

But Teflon Nick survived, with an unholy alliance with CGP already in the works...we may now have 100% of Cascabel, but at what cost...

There is no doubt that the desperate attempts to flush out a bid from BHP have brought us to where we are, so...

The co. has been stripped to the bare bones and we have enough cash to ride until June 2024, in the meantime pinning our Hope's on either Jiangxi or BHP blinking first, or the eventual inevitable rocketing copper (and gold) price...

And the wait is draining...wheres your baseball bat now Bob...?

Solgold is a sitting duck yes...?

So why no bids yet?

Second best new global prospect, now 100% owned...surely of interest to any copper/gold major...?

Now owning 90 prospects in Ecuador, including Cascabel and Porvenir...surely this would give the successful bidder the leading strategic foothold in possibly the most stable mining jurisdiction in South America...?

And we are told there is a copper crunch coming this year, with 400m tonnes in store but a 500m tonne deficit looming...

So why this gigantic game of chicken being played and why is the price so low...?

Jiangxi didn't fork out peanuts to hold a 6% stake indefinitely (following their earlier purchase through Valuestone)...Solgold must be of huge strategic interest to the Chinese government and Jiangxi is their mining vehicle...

It may be that they are demanding the CGP held stake at a knockdown price before proceeding, which means SOLG is right to hold on and maybe sell that stake to the highest bidder...

So no bids yet...and maybe this is because there is so much latent interest that nobody wants to be first, because they know they wont be last, unless they pay a knockout price.

And if Blackrockk has sold out, who to...? Cos it ain't the likes of us who are fully invested...?

So finally with the inevitable eventual takeout, do we have such a low SP....?

No price would have been agreed because it would have to be RNSed...

We may need to be patient here until Maxit delivers...or the copper price takes off...

What Irwin is missing is that the Chinese would have done a substantial amount of DD before the 6% stake buy...if not earlier when Valuestone bought their stake (Valuestone is 'owned' by Jiangxi)...

It was a nightmare over thde weekend and yesterday SM...then it seemed to settle down...

No real volume though bubble...only 8 trades sincw 9.09...

Maybe the laxatives aren't working yet...mind you, all the main indices are down except the Small Cap, so we aren't doing badly considering...

Meanwhile, it looks like a bowl has been forming on our chart since June last year, which could eventually take us back to 35p or beyond...

If the bid(s) doesn't come before then...

Looks like a confident Sale & Buyback at 8.38/8.40...somebody in the know...?

You're right...like me he probably got fed up with the vacuum being filled with vacuous nonsense and slanging matches...

I've been on LSE for 13 years and this has become one of the weorst ever...and thats saying something.

Part of the problem is that Quady stirs people up...he never gets banned and people don't filter him...

So we go round...and round....and round................................................

Look at the mess this Board has become. DBW banned...our best poster...26 green stripes in the first 43 posts...

You cant resist the slanging matches and you dont filter the culprits...

Guys...if were fed up and frustrated waiting for the big payday, just imagine how frustrated Mather and his pals are...

Hes down £10 million in just over a year...

Hard to get stock in size today...had to break it up into chunks again...eventually got what we wanted...

Enjoy a bottle of decent red today DBW!

DM..where did I accuse you of bickering...it was a general comment...day after day, pointless arguments over angels on the head of a pin that could be avoided by simply respecting someone else's opinion and filtering the idiots that could start a fight in a phonebox.

Just...use...the...filter...button...

you will notice that I often get ****ged off but do I respond in kind? As opposed to ignoring the comment, making a validated correction or occasionally when someone like needalife/earthling gets too much, filtering them...

You will also note that I only respond to Quady when that tiresome poster insults me behind my back, because he's been filtered for over a year now and I don't have to read his ritually repetitive tripe...

(And no doubt I'll get at least one green stripe for that...)

Its a Bank Holiday Weekend...the sun is shining...the arrival of at least one bid gets closer by the day...and I'm playing the best golf of my life...off to quaff a bottle of 'The Guv'nor'...beautiful and cheap as chips at £6.99 Mix Six...

Pax DM and cheers to everyone else (well mostly...)