Member Info for mattlilly

BNamericas: Despite government support, there are still a lot of backlogs from various companies.

Taunton: Although I am sure that there are still permits that are behind schedule, the current Ministry of the Environment has moved many blocked procedures.

In our particular case, in Cascabel we had one that was delayed for at least three years. It has been a relief for us to see that the water permits, which were previously blocked, have been moved.

In general, I understand that the goal is to meet the appropriate response times, according to the regulations.

The issuance of environmental records has been stopped in recent months, but it is clear that the government intends to solve it as soon as possible.

BNamericas: How do you see the mining future in Ecuador?

Taunton: With three, four, five or more mines in production within four years, the contribution of revenue to each mine's areas of influence is going to be demonstrated.

Regarding Cascabel, roughly we are talking about a potential of US$32,000 million in income and, on top of that, there are at least 3% royalties and 60% of that could reach the area of ??influence.

The figures are huge compared to the budgets of the provinces and cantons.

One of the great challenges is that the GAD [Local Governments] begin to understand the way in which they can have access to this type of funds, through proposals that are presented to the Central Government.

BNamericas: What happened to La Hueca and Blanca, where drilling started?

Taunton: La Hueca is part of the third party interest group. We have also offered Blanca to the same group.

According to the law, we have to complete activities in four years, but there are elements beyond our control, such as COVID, with which we lost several months.

We have to focus on where we have the best performance, but also offer to third parties if they are interested in partnering, if feasible, for advanced exploration activities.

BNamericas: What are the main obstacles facing Ecuadorian mining in terms of permitting and regulation?

Taunton: Under President Guillermo Lasso, the importance of responsible mining has been recognized.

The activities of EcuaCorriente, with Mirador, and Lundin Gold, with Fruta del Norte, have economically transformed the province of Morona Chinchipe.

These two examples are absolutely crucial in demonstrating the seriousness and reality of the benefits of high-volume mining.

Decree 151 issued by President Lasso last year shows that he has a clear vision of improving conditions for mining, of implementing activities that improve mining in general in Ecuador, and of trying to eradicate illegal mining, which unfortunately has been the example for the public.

At Cascabel we are going to begin very soon the negotiation phase with the government on details of royalties and taxes in compliance with the different stages of the law.

BNamericas: Has the company already thought about where to refine Cascabel's production?

Taunton: It's a little early to decide exactly where. There are options in Asia, there are options in the United States, if I remember correctly in Chile. There are several options, but it is still too early.

BNamericas: How are SolGold's other concessions in Ecuador going? Have they advanced in the search for alliances with other companies?

Taunton: There are a number of companies in discussion with us right now. We have presented a series of concessions to see if anyone is interested in linking up with us to develop the other areas that we have.

We have selected two. One is Porvenir, which is far to the south, in Zamora Chinchipe, and the other is Heliports, very close to Solaris, in Morona Santiago.

We are going to focus on those two, because there are the best results so far. We have to focus activities independently of what we have in Cascabel. Several concessions are being targeted by other companies.

BNamericas: What other production facilities will be built besides the mine?

Taunton: The processing plant, some tailings, a pipeline that will transport the waste from the plant to the tailings area, which is outside the concession, and there is also another pipeline that will transport the mineral concentrate to the port of Esmeraldas.

In Esmeraldas we are going to have an infrastructure where we will remove the water from the transportation system and leave the dry concentrate to be exported from the port.

We also have an electricity line planned that will start from the north of Ibarra to connect with the national system.

BNamericas: What role will technology play in this mine and what systems will be used for water treatment?

Taunton: The intention is to use the best possible technologies, Cascabel's intention is to be one of the examples of how to be a high-production, high-tech, high-care mine with good relations with the communities where we work.

The water that we will use to transport the concentrate from Cascabel to the port of Esmeraldas is returned to Cascabel and used again. We are not going to throw the water into the ocean, we are going to reuse it.

"We are going to focus on those two, because there are the best results so far..."

Porvenir and Helipuerto...(the latter is Tinkimints...

From the latest presentation there is a picture and:

"Multidirectional and mineralised veins at Helipuerto project in Ecuador’s southern cluster"

Could THIS be "one of the best holes ever drilled in South America"...?

But in the May Quarterly MD&A there is NO drilling listed for Helipuerto...

However, here is the detail, so could we be discussing a J/V or even sale with Solaris, Lundin (Fruta del Norte), Mirador or Panantza(Chinese owned Corrientes Resources/Tongling), Santa Barbara (Group Mexico)....?

"The Tinkimints copper prospect and the Helipuerto project concessions lie within one of the most prolific portions of the Andean Jurassic Porphyry Belt, which hosts globally significant copper and gold deposits in Ecuador, several of which have been developed into mines, such as the nearby Fruta del Norte and Mirador mines, the Santa Barbara, Panantza and Warintza deposits, and SolGold's newly discovered Cacharposa deposit at Porvenir.

Extensive and systematic geological and geochemical field programmes are continuing at Helipuerto with an initial focus on the delineation of the size and tenor of the new Tinkimints copper prospect including mapping and sampling of the area directly south of Solaris's Warintza copper-gold porphyry discovery that abuts SolGold's Helipuerto concessions."

Waited this long...question is...is there a trade un between...I've gambled but I could be wrong...

Have a good weekend guys

Oh and sorry...with th copper price recovering I see SOLG remaining solid but not advancing much without game changing news...

And we still need a cash raise at some time...

Sorry Almost...I had already sold those not long after I bought them when I slimmed down our general exposure.

As other longtermers on here know, our SOLG holdings are technically at an average negative cost based on previous profits but...

It wouldn't matter if I had sold at a loss because I'm trading on comparative advantage and, in the absence of a bid I expect to make much more from ATYM than the SOLG I sold as the copper price returns to more normal levels and then in an ideal world I'll be back into SOLG...

Although gold looks increasingly appealing and I could zee a scenario where I sold everything except ATYM, SOLG and GPM and put the rest into Gilts until the next crash bottoms out...

Its all personal opinion but I don't like sitting and staring at a portfolio doing nothing while markets and commodities are so volatile...

You pays your money you takes your choice...

AIMO and hope this helps clarify that my view on SOLG has not changed and indeed the AGM is now only 5 months away...

Still believe in the story but one has to trade on comparative advantage so...

Sold 200k at 26.28 at 13.04 and switched into ATYM at 278.70/75...

SOLG on 21 Feb 26.55...virtually unchanged...

ATYM on 21 Feb 440... now down

If ATYM return to equivalent parity there's a 63% gain on a share notionally yielding 10.6% in a stable economy.

If there's a bid for SOLG then ho hum but we still have a massive chunk but...

Based on past history we'll get back to 440 on ATYM before there's a bid for SOLG...

Anyhow thats the justification...

In an ideal world I'd be selling our entire ATYM holding back into SOLG at 25/26.

Its all about strategy.

But...this does NOT mean I have lost faith in a Bid or even in SOLG in general...just got to keep the portfolio ticking over...

GLA

Cheers Bubble...hope its not Cuspers last stand...

A fellow poster tells me Quady is worried about me...

No worries mate...3 holidays...2 golf trips...and took the SOLG needle out of my arm...

Meanwhile, Franco Nevada still hungry for gold streaming deals...

https://www.mining-journal.com/gold-and-silver-news/news/1436097/franco-nevada-provides-ususd353mn-for-brazil-gold-mine

ATYM will soon be generating 55% of energy needs through renewables.

Even if the margin shrinks to zero, it will return to pre correction levels as soon as the copper price recovers.

Global shortages cannot be ignored indefinitely.

Rivian is now valued at $121 billion and is building 3 ton electric trucks to meet the huge potential demand...

I am certain this stock will return to at least a 10% yield within a year or so. This is just a temporary blip that slowed me to fill our boots again...

ATYM is not an AIM stock...

AND Toronto is the premier mining stock market...

Taking advantage of the copper price...

Whilst holding strong on SOLG have bought back c£95k of ATYM at a P/E of 3.6...

Just showing my belief in coper for the long term...

ATYM for now and SOLG for soon...

Much more attractive than ANTO on a P/E of 11.2...

Bought £95k last couple of days at average of 303p...

Berenberg and BofA have it as a BUY...

"Berenberg cuts Atalaya Mining price target to 430 (500) pence - 'buy'

Bank of America cuts Anglo Pacific price target to 220 (230) pence - 'buy'"

Completely agree Damers...

Bought 65k+ at 27.99

https://latam-investor.com/2022/06/will-politics-hinder-latin-americas-post-pandemic-recovery/

The presentation I read is headed General Meeting, is 6 pages and says "initial study by..."

I read the words "initial study by..."