Member Info for mattlilly

Interview with Juan Carlos Bermeo...very bullish about mining...

https://latam-investor.com/2021/07/interview-juan-carlos-bermeo-ecuadors-minister-energy-non-renewable-natural-resources/

Interview with the Vice Minister of Mining...Solgold gets a mention...

"VMV: We have outstanding geology. Take SolGold’s Cascabel project for example. The construction of the Alpala mine should begin in 2025 with production in 2028. Once operating, it will be one of the largest copper mines in the world. It has 21.6 million ounces of gold, 92 million ounces of silver and 9.5 million tonnes of copper, which is three times the size of our only operating large-scale copper mine El Mirador. Our incredible geology, coupled with a lack of historical exploration, means that you will see plenty more mega discoveries happening in the years to come. We have only just scratched the surface so far."

https://latam-investor.com/2021/12/interview-with-xavier-vera-ecuadors-vice-minister-of-mining/

US Markets tanking again....Nasdaq down 23% this year alone...

Sensible comment summit but...

Miners operate on a 10 to 20 year horizon for increasing rwsources and...

Cascabel won't be producing for at least 7 years...

Markets discount the future, but right now they're running scared of stagflation and rapidly rising interest rates to curtail it...

sorry forgot the links...

https://www.kitco.com/news/2022-05-04/Commodities-at-risk-of-reversing-massive-gains-with-wild-run-similar-to-2008-gold-price-to-take-on-2k-Bloomberg-Intelligence.html

https://www.kitco.com/news/2022-05-05/Gold-price-is-manipulated-by-the-Fed-suspects-mining-tycoon-Frank-Giustra-but-suppression-can-t-last-forever.html

Agree all of that Orthern....and here are more reasons to get the issue away...

But to be clear, apart from its obvious attractions I'm holding SOLG as a hedge as well as GPM, EQX and MAG...

PS I've just dipped my toes back into ATYM for a long term hold...thats where I made the gains to feed my SOLG habit...

Entirely predictable Orthern...

Doubled in 4 months...up 60% in the last 2 weeks alone...

Scary ride for traders...time to hunker down...

Something has to happen...

117k shares traded in 3.1/2 hours...

Is this the start...?

FTSE and most other London indexes 1% down...FTSE250 down 1.5%...

All sectors red except Aerospace and Fossil Fuels...

Volatility is back with a bang...S&P was up 3% then fell 5%...

NASDAQ was up 5% then fell 6%...

Apart from Gold/Silver shares, SOLG could be a good hedge against the market...

Just in case anyone thinks I've done a volte face for trading purposes...

My recommendation that SOLG do an equity raise ASAP is totally coherent with my serious concerns about equity markets in general...

An equity issue into a weak or falling market would leave the company a hostage to fortune.

As the market seems to be expecting it, better to get it out of the way ASAP

Then with only good news expected it can put a floor under the share price...

And being completely honest, of course I would be a buyer if there was an issue...at the very least so as not to dilute our percentage holding

Best wishes

There is no way Mather can be described as an 'Independent Director'...as he has influence over 20% of the shares...

And he's not an Executive Director either...he's an anomaly...a relic of his former fiefdom...which is why he needs a bid because otherwise he's toast in December...

Remember addickt...his career hit the lofty heights of trainee actuary...and they know everything...

I agree that raising rates could be suicidal given that the US is already going into recession which will rapidly become stagflation...

The Fed inflated its balance sheet to $9 TRILLION during COVID and although they start QT soon, first at $45 billion rising to $90 billion, there is a gathering tsunami of corporate debt maturities coming down the track...The 2 year yield and 10 year have already bounced to c3% while the Fed is at 0.75%...

The market knows...

Blimey...one green stripe in 33 posts...

Yes but it didn't go down...

Trust me the problem is a lack of liquidity plus a lack of news...

Its not TPC...

The point is that there is clearly institutional demand out there, enhanced by the roadshows which started tw weeks ago.

One aim is for IIs to buy shares, including new investors.

The trouble is that if nobody is selling their shares because they are holding on for the takeover bid, MMs can't put parcels together to see the demand.

Now you might reasonably say why not push prices up...simple supply and demand, but IMO that would;d make people even less likely to buy, while stimulating further buying interest from PIs...

I've had to manage exactly this problem as an AIM GFD and at the end of the day one way to break the deadlock is to issue new shares.

Of course most of those may go into long term holders, but there is always a proportion that gets washed through into the market even if it is just from the underwriters...

So problem solved and as I said to the Colonel...when we did an issue last April, the SP went up more than 20% in the following month...

Hope this helps

Todays volume 600k but...

I am firmly bid for 220k...

Just about sums it up...

There's no liquidity so we need a cash raise, otherwise the SP will remain constrained...

SOLG better get their act together quick (or better still Barrick or BHP...)

Here's a couple of articles from the economists I respect most...

https://www.theguardian.com/business/2022/apr/25/world-stagflation-covid-ukraine-inflation-growth

https://www.project-syndicate.org/commentary/imf-world-outlook-revision-growth-models-failing-by-mohamed-a-el-erian-2022-04

As I understand it from the PFS, the sales of gold and silver lead to a negative AISC for the copper production...

Colonel...even with after hours of 3 million shares, thats still p**s poor volumes, viz only 547,000 shares traded in 5.1/2 hours today...

Nobody's selling....poor liquidity so hard for Its to buy...an equity raise would alleviate that and allow the SP to power forward...

The last one was at 25.5p...the price held at around 28p and progressed to 36p over the following month...

We need to put a floor under this Share Price...the PFS has done that to a certain extent...getting the fund raise out of the way can only be good.

And to restate, I think a Boliden/Franco type deal would not be good news for a number of reasons.

Apart from which it would strongly signal "come and get us" which defeats the object of the PFS and all the roadshows...it would be like throwing the towel in...

Hi Lunch

Sound as usual...

The other problem I have with a streaming deal is that it puts a notional value on Alpala and that may not be helpful...

No for me it has to be an equity raise...