Member Info for mattlilly

The informed view is that he was 'defeated' at the AGM...

Theres no JV talks going on...

Edit......

"No Padmaster, as I have said many times, all that is posted on here is opinion, including mine, however 'certain posters' have proved time and time again to offer the most inaccurate opinion on Solgold.

We have had 'certain posters' notes suggesting all opinions, each being the opposite of other 'posts'.
I remember when we were 26 pence a share, we had a 'certain poster' predicting 'Alpala will go to production'...

"They are opinion and nothing more.

I cannot think of one occasion when ,certain posters' have got it right, apart from when they post so many opinions, one proves correct, and then everyone starts shouting that this or that 'poster' was spot on.

If I took notice of 'certain posters'' notes, I would still be 'penniless'.

Longer than you might hope ssmith, but difficult to say. I led due diligence on corporate finance proposals and twice on prospective IPOs.

There would be a big difference between a JV and a takeover. There would be an element of company appraisal in both, but it would be far greater on a takeover.

I cannot comment on DD for a minungcresource, but a comparator would be the FNV deal. Some work would have to be done on site, to confirm the quality of the resource, some could be desk based using SOLGs existing information and some could be done remotely. But at the end of the day two things are fundamental.

There is a lot of intensive questioning face to face, requiring definitive evidence to back up statements and then there is the COVID factor which ultimately slowed down the FNV transaction.

But Icwouldnt be too worried because we would expect to hear something before the DD exercise was completed, such as SOLG is in talks with....

Hi Jerry

I have a great deal of experience in this area, having worked with all three of the major credit rating agencies (Fitch, Moody's and S&P) and having earned a A rating for more than one bond or note programme.

They apply a fundamental analysis with the acronym CAMEL, referring to the quality of:

Capital
Assets
Manaement
Earnings
Liquidity

And fundamental to the rating is the ability to repay.

The answer to your question is not straightforward, because we have three strata to consider:

Credit rating of the specific instrument

The issuing company themselves and

The country risk.

The first two are closely connected.

So...Ivanhoe is the renamed Zinjiang Mining Group which achieved a com pay credit rating of BBB in 2018

However, DRC has one a CCC rating (where the mine is that was funded by the bond issue)

Nevertheless I expect it got BBB, but in any case the yield on 'junk' (i.e. CCC or worse) is surprisingly low.

For cross reference Rio Tinto is rated A

So, pulling it all together and especially with Solgold having proved their ability to raise substantial sums through streaming deals, I would expect no less than a BB rating for a prospective CB deal and they might even achieve BBB, because Ecuador is far more stable than DRC.

Hope this helps...

And BTW SOLG wouldn't be just one J/V...

We have 76 projects...20 out to interest for JVs...three of the rest prospectively Tier 1 and the rest may produce more...

We need all hands on deck and a wealth of experience.

To repeat...Blackrock will ONLY invest in companies that pass stringent ESG tests. We;'re doing much better now but our major shareholders BHP, NCM and Blackrock are pushing us hard on ESG (quote from KM on Wednesday)...

I'm afraid I don't agree zoros...which doesn't happen often...

Atalaya Mining, with a MCap of £419m and only one producing mine, has 9 Directors, 8 of whom are Non-Exec.

With a CEO we will have 10, including 8 non-Execs, one of whom is NM because we can't ask him to resign.

A COO would not be on the Board (although maybe Jason Ward would be COO?) and the last CFO wasn't.

Even now we are a much more complex company than ATYM, with prospectively three Tier 1 mines to develop. ATYM took over an existing disused mine and renovated half the mechanicals.

We have to build a block cave from scratch with a 'turnkey' for the surface infrastructure and organisation.

Also, the ATYM Board meets in Spain, but SOLG has its financial base in London and its mining base in Ecuador, in a region 3 hours from the major capital and financial centre.

Furthermore, ESPECIALLY for miners (as the LatAm seminar showed), ESG will dominate everything SOLG does for the rest of its life.

Having said all that, I think its time for Brian Moller to step aside, but there are the usual Governance Committees and a specialist Alpala Committee to 'man' and service as well as the Board and...there is still $3/5 billion of financing to be arranged...AND the geopolitics of Ecuador to be managed in a country where a candidate who almost made the final runoff was vehemently anti mining...

When I was CEO of a major FS company, we had 12 Directors including 3 Executive (CEO, GFD and Marketing). It worked well.

I'm afraid I disagree with one thing CD...while I agree that a J/V of Alpala is the pragmatic way forward, as it releases the development of the 'string if pearls'...

I am strongly in favour of CB's for a term of 5/7 years, assuming the payback is not lengthened by the PFS review.

Did you not see the Ivanhoe transaction? $500 million 5 year CB's at 2.5% oversubscribed 15%...

Thats the way I believe Solgold will go for maybe half the finance. Remember we don't need it all at once...the North American debt market is awash with cash and the Ivanhoe transaction shows us the way to go...

I would far rather that than a lump of streaming deals that sell the family silver or worse still a massive dilution...

SXX is no comparison...it was never a bankable deal...it will take decades for AA to make it pay, but they have deep pockets...as do BHP....throiwng off cash they can't use at the moment...

https://www.kitco.com/news/2021-03-26/Fragility-of-supply-to-fuel-commodity-supercycle.html

Very bullish?

Closed at the high of the day with an Uncrossing Trade of 576,000 shares...30% of the day's total volume...

You're a decent bloke DBW...thanks

$4.20 for copper...$1760 for gold and $26 for silver in the next week or so and I'll believe we're 'off to the races'...

Meanwhile, definitely second wave Bubble...and it looks like we've got a 'Bullish Harami', especially with yesterday's sharply higher volume...

We'll see...

"When the ravens leave the tower" you'll know there's a bid coming...

Look at all that Autobot buying...

https://www.mining.com/web/trafigura-sees-green-copper-supercycle-driving-prices-to-15000/

We've also been way below the MA envelope since late January, exacerbated by the disappointment on 5 Feb, but...

We're getting very close...tried to break back in on Wednesday, but the falling metals prices killed us...

If we close above 22 in the next few days, we're back in...hopefully another bullish signal...

On many other indicators we are massively oversold and have been since mid Feb

IMO...finished now...

We've broken through the bottom of the Bollinger Band...oversold...

"When the price of the asset breaks below the lower band of the Bollinger Bands®, prices have perhaps fallen too much and are due to bounce. "

Tricky business charting...

Three days ago a 'Bearish Harami'?

But if the price stays within the range 20.30 to 21.50 by the close today, we may have a 'Bullish Harami'...

https://www.candlesticker.com/Pattern.aspx?lang=en&Pattern=2102

Also, on the 5 day candlestick chart, the SP 'gapped up' this morning...

But what do I know?

Onwards and upwards...

For those following the gold mining as[pects...

https://www.kitco.com/news/2021-03-25/Lowest-cost-gold-mining-companies-in-2020-report.html

I hold POLY...like SOLG, ridiculously cheap IMO....

Candlestick Solgold chart looks very bullish...scond (mini) capitulation yesterday...?