Member Info for mattlilly

Decent bought volume...plenty of chunky buys...next big target 16p+...then 19p and off to the races...

Thats better...just did a dummy trade...firmly bid 14.52 for 400,000...

Totally agree we can't addickt...which is why we're up for sale...but the Chinese could kick it off very quickly, especially as they already have a major presence in Ecuador...

Mind you at 31 Dec 2021 Norges held 0.57%...

Hi lutho

I wish I could but I'm afraid its a private board. sorry.

Maybe this explains it... Blackrock has 4.4% holding in Jiangxi Copper...conflict of interest...?

Blackrock have sold 39.6 million but UBS have bought 45 million (on whose behalf?)

B;ackrock bought 5.1 million shares in BHP and now have 13.5%...

Interesting...

Hi dave...I wonder if those are T2/T20 switches...? I've done a few of those in the last week or so...means you don't have to ante up the cash...

SM...remember that Jiangxi have done Due Diligence at the time they bought their 155 million shares...

From the Prospectus:

Purchase price

Common shares of SolGold issued (a) 86,246
Replacement Options granted to Cornerstone option holders (b) 2,620
Fair value of SolGold Plc’s initial 5.5% shareholding in Cornerstone (c) 5,064

93,930

Less allocation of non-controlling interest consideration as of 30 September 2022 72,354

Remaining consideration 21,576

Fair value of net assets acqacquired

Cash and cash equivalents 1,732
Other receivables and prepayments Property, plant and equipment 252
Financial assets held Financial assets held at fair value through OCI 25,767
Others (8,909)

19,458

All of the above revalued effective at the date of the Prospectus

But is it highly unlikely addickt...?

China is already mining in Ecuador...they are world leaders in civil engineering projects...they would simply bring in an army of Chinese to build it...

And they don't need a DFS if they are self funding, so they could even start construction in 2023 maybe...?

Is this the same Ministry that announced that Mitsui want a stake in Cascabel (Vice President of Mines)?

"Or, do we have a possible buyer/bidder and this makes a DFS irrelevant? "

Thats the one Eish...and also why we've cleared the decks to such an extent that there was nobody clever to put the Propsectus together...

Thanks Mathers...

So you're saying he's MassiveRay...figures...

I've read every one of your 50 posts...they add nothing to the debate I'm afraid...I thought the Michael Li one did, but now you say it was satire.

For the sake of the Board I am now filtering you.

Goodbye...

52 ALGO trades out of 59...the rest of us waiting for Monday...?

So this is satire...are you deluded...?

"Have it on reasonable authority that Michael Li (Maxit) met with Yu Tong from a little know Chinese copper investment company earlier this week in HK. No details except that it was a full/long day of face-to-face, decent team of advisors on Chinese side. Jiangxi use the same hotel business centre for meetings most times, it would seem (what's wrong with their offices?!) as does an acquaintance who has worked with Li in the past. He knows I have a (failing!) position here so let me know he'd seen him, and was kind enough to ask reception if it was Jiangxi (yes, it would seem) . I'm now all in here. Good news to follow. Very, very excited if they've got an offer for Cascabel out of them."

My dear fellow, you are the most intelligent, experienced, well mannered, thoughtful, kind and unassuming poster I have ever met on LSE...

Now THAT is satire...or is it irony...?

Oh and BTW I AM Spartacus... ;-)

So...it took me a couple of hours to research and write that 'article'..

It must take you all of a couple of minutes to write your abuse...

And frankly you cannot hold a candle to HH, to whom I am connected, because you don't actually post any facts or useful information...he does...

Part 3...enjoy...

"Boris Mikanikrezai, metals analyst at commodity specialist Fastmarkets, one of the leading experts in commodities markets has warned that the West has fallen behind China in the race to secure copper supplies, due to its short-sighted approach to commodities and energy policy.

He told City A.M. that China’s dominant presence in emerging copper markets meant the West was in “more trouble” than its rivals when it came to obtaining essential minerals to meet its future needs."

https://www.cityam.com/the-west-faces-copper-crisis-as-china-dominates-key-markets-warns-expert/

China's Belt and Road Initiative

"In August 2021, Ecuador's President Guillermo Lasso decided, through an executive decree, to speed up strategic mining projects with the goal of Ecuador becoming a copper powerhouse. Ecuador is trending in this direction as mining exports in 2021 increased 99% from 2020, according to Ministry of Energy reports. Foreign investors, including Chinese enterprises, will play a driving role in determining Ecuador's ability to realize this goal. China itself is incentivized to invest in Ecuador's copper industry as China attempts to grow and diversify its sources of copper. In 2020, NASDAQ found that copper produced at the Mirador mine was exported directly to China. "

https://www.tearline.mil/public_page/copper-ecuador/

Part 2

Corriente Resources owns Mirador.

Corriente Resources was a multinational corporation based in Canada that completed feasibility studies and environmental impact assessments (EIA) for open-pit copper mines in the Ecuadorian rainforest, including the Mirador mine.

n 2010, the company was taken over by state-owned Chinese companies Tongling Nonferrous Metals Group Holdings Co. Ltd. and China Railway Construction Corp. Ltd. through their jointly owned subsidiary CRCC-Tongguan Investment Co. Ltd.

So the partners in Mirador are Tongling and China Railway Construction Corporation (CRCC)

The major shareholder of the latter company is the state-owned China Railway Engineering Corporation (CRECG).

Tongling Nonferrous Metals Group Holding Company Limited is a state-owned enterprise involving in extracting copper resources and smelting copper and other non-ferrous metals.

And of course Jiangxi Copper Company Limited was formed by parent Jiangxi Copper Corporation, which is owned by the Chinese government, in 1997.

So if you are putting all this together, basically the Chinese Government owns CRCC through CREG; and Tongling; and Jiangxi...

https://www.mining.com/charts-chinas-overseas-copper-mining-scramble/

"Data...indicates Chinese companies invested more than $56 billion in overseas copper assets between 2005 and 2020. "

https://www.forbes.com/sites/thebakersinstitute/2021/04/05/chinese-firms-position-for-an-energy-transition-copper-supercycle/

You arruved on 7 February...

Here is my article from 3 February in 2 parts...there are hundreds more like that...Part 1

"China's existing huge copper project in Ecuador is Mirador...

The project is owned and operated by Ecuacorriente S.A. (ECSA), a subsidiary of the state-owned Chinese company CRCC-Tongguan Investment Co. Ltd, which comprises Tongling Nonferrous Metals Group Holdings Co. Ltd. and China Railway Construction Corp. Ltd.[4]

The major shareholder of the company is the state-owned China Railway Engineering Corporation (CRECG).

Lawyers acting for the acquisition of this project were dwvp...specifically Ian McBride...

And guess what...

DWVP is "Acting for Cornerstone Capital Resources Inc. in its proposed merger with SolGold plc pursuant to a court-approved plan of arrangement, consolidating ownership of the Cascabel project in northern Ecuador."

And they also acted for Maxit Capital LP, as a financial advisor to Guyana Goldfields Inc., in a successfully contested plan of arrangement under the Business Corporations Act (Ontario) in relation to Maxit's retainer agreement with Guyana.

And of course Maxit acted when Anglo-Australian BHP agreed with Guyana Goldfields to buy a 6.1% stake in Australian SolGold...

And then of course..."In October 2016, SolGold shareholders rejected a BHP investment proposal for the development of the Cascabel project.

BHP had offered US$30mn, or 22 cents per share, for a 10% stake in SolGold.

Instead, the shareholders accepted Australian Newcrest Mining's offer and a proposal by private investment company Maxit.

The deals called for Newcrest to spend US$22.8mn for buying shares equivalent to 10% of SolGold, while Maxit got 4.43% of the company for a US$10.1mn investment."