Member Info for mattlilly

Also, as well as having a regular dialogue with the company at a senior level, I attend the online webinars when I can.

For those who didn't attend the LatAm seminar yesterday, featuring Keith Marshall as the mining expert, here is the verbatim answer he gave to the question of whether he would become the permanent CEO...

"I'm very interested in the work of the CEO but I think I actually support the company better using my technical ezpertise to help with the mining side of the company and I think a more rounded person with financial and investor experience could make a better job in the CEO role.

So we're looking for a replacement.

The Board and the company and the investors seem happy with me as an interim but from my point of view I think a handover in the next 3/6 months is probably the best thing for the company."

This has been my major investment for the last five years, during which time I've ridden it up three times and made enough money for our retirement to be secure for the rest of our lives.

So naturally I devote far more research to this company than any other because...frankly...the big one is still to come...

Hope this helps...

Portofino...see my post at 12.14...

Its the copper price and we're called SolGOLD...double whammy...

But frankly...no buying...

Average volume for Solgold 5.5m shares per day...

Average for 11 days from 10 March 2.6 million a day...

4.7m today suggests another mini capitulation...if 20 holds it'll be good...

For comparison, on the day the PFS was delayed again...we had 40 million...

And...GGP also down...but 49 million yesterday and 20 million today...

Its after the Lord Mayor's show last Autumn, with a blizzard of news then and a light shower now...

However...news in a couple of weeks methinks...

And we have 92 million ounces that weren't priced into the MRE...

"Silver is in a relatively short supply compared to other metals needed for energy transition, said the CEO of Vizsla Silver, Michael Konnert.
Konnert spoke to Kitco on Wednesday. Vizsla Silver (TSX-V: VZLA) is developing its Panuco silver district in Mexico.
While silver is a precious metal, Konnert said it also has industrial uses, particularly for solar and some advanced electronics, and demand is set to increase. "The electrification application of silver is what really excites me," said Konnert, who noted some projections showing increased demand upwards of 20%.
"That's so much more impactful to the silver market because it's a tighter market compared to copper and nickel. I think silver will certainly be one of the top performers of this inevitable change into electrification," said Konnert."

It commodity prices...

Annoyingly we didn't rise when copper went up, but copper (down 3.5%); gold (down 0.6%); and silver (down 2%) all down on the day...

Why? Dollar rising again...

The Goldman's super cycle hasn't gone away...

The phenomenal projected dearth if copper hasn't gone away...

The FIAT currency conspiracy hasn't gone away...

Inflation is coming to a place near New York, soon...

10 year bond yields may have topped out pro term at 1.75%

S&P down almost 2% in 21 hours; NASDAQ down 3%; and DOW down 1.5% in last 24 hours...

Basically risk off....affecting commodities and shares in general...FTSE100/250 down c1%...

Simples...as Keith said yesterday...the copper is in the ground...

I don't think I've implied that was a given...it was my strongly expressed view in the call two days ago...

I still hope it happens...we only need him to do it for 2 years max ...lets wait and see...

How about Craig Jones otherwise...?

"Prior to joining Newcrest, Craig worked in projects at Rio Tinto."

Previously on SOLG's Board...ex Rio Tinto....KM would have come across him...PNG is overrun with COVID...

I made that point directly two days ago...couple of weeks would be my guess...

No point focusing on April 11 because the election result may not be out until end April...

Some snippets from Keith's comments:

Price is key.

Open pit takes us down to 1km...with block caving we can now go down to 4km...

Not running out of copper in the ground but its going to be increasingly hard to find and technically more difficult...there's a cost to that...

Output from open cast is falling...underground rising

Politicians don't understand that because they're on a 3/4 year cycle, whereas Alpala is 50/60 years...jobs, copper, taxes...

Once you've started a mine its hard to kill it off...we want to do it in the most environmentally responsible way because the demand is going to be around (for a long time)...

We have three major shareholders...BHP, NCM and Blackrock (note no mention of CGP...)

They are the ones giving us most pressure on ESG

ESG KPIs including good governance and health and safety...(good) mining is now much safer than construction...

An impressive Colombian oil delegate said that COVID has set Latin America back by 10 years...it has 10% of the world's population but 20% of the worlds resources and demand for resources is going to grow by 80%...

Finally, responding to what I assume was DBW's direct question, KM said that he was happy in his current role and the company needed "a more rounded person"...

I still hope he can be persuaded...watch this space...CEO/CFO in the next few months...

Ah DBW, you've been watching the seminar...

I think he gave a 'diplomatic' answer...

If they couldn't find a credible candidate the Board would have to choose between KM and ~NM...

I am clear on my view....Nick is a genius on exploration, but he is not the right guy to take us to production.

Keith has all the experience and credentials and I was impressed again by his demeanour and understated competence.

I think he should be persuaded to take Alpala through to production and then step aside for a 'young pretender'.

I am also adamant that they need a permanent CFO sooner or later, taking nothing away from Ingo who is first rate, but that is not what he was recruited for. Woirking in tandem with Keith to deliver Alpala financing and production would be the 'dream ticket' IMO...

First, it depends how the quid comes but, if it was a takeover, CGP would be forced to sell when BHP got to 90% and pretty much when they got 75%...

As to their ENSA stake, I wouldn't bother...let them stew and stump up all the money that has accrued by the time of the DFS...

Its important to distinguish CGP's Solgiold stake from its Alpala stake. If they were seriously interested, BHP should keep it that way, thereby excluding CGP from the 'Regional Exploration' bandwagon...

No sympathy in corporate life...

Oh and BTW I am NOT saying I would take £1...its circumstantial...

AIMHO and hope this helps

Right that does it...PLEASE everybody just filter him...with no response he has no fuel to insult us...

"our resident junior accountant"

Lets be clear...this guy who is pontificating admit to being a "trained analyst"

Me...FCA, FCT, FCB, former Member of the London Stock Exchange, CEO of a major FS company, GFD of a quoted company...

Quady...you're fired, you arrogant, nasty, tiresome, uneducated, under qualified, armchair engineer...

Filtered!

£1 minimum...

I agree with you zoros, though the Company is determined to try and do this alone...

However...

There are 4 BHP geologists in Ecuador doing nothing much except look at what Solgold is doing...

I still think a J/V with BHP opens the door to us developing the whole 'string of pearls'...

Or to filter him...he's got me filtered...

Apologies...the Panel Session that Keith is part of is at 16.45, not 17.45

Here is to register:

https://canninghouse-org.zoom.us/webinar/register/WN_EbcqWHQETo2gc9UI4MQ64A

A world leading expert says:

"Although the caving mining system was initially used for shallow orebodies, it has recently been applied at depths of 2km underground. According to Suorineni, “caving heights have also increased drastically from about 200m to 500m”, creating so-called ‘super caves’.

“There is insufficient experience caving in these environments,” he adds, which is a challenge for operators willing to apply the method at depth"

https://www.lse.co.uk/ShareChat.asp?ShareTicker=SOLG&share=SolGold&thread=9A9A0E38-D39B-4D60-A958-4697287A98B3&reply=true

"Block caving is a new alternative method of developing new mines or extending the operation of open pits.

Block caving is an underground hard rock mining method that involves undermining an ore body, allowing it to progressively collapse under its own weight."

https://www.geoengineer.org/news/block-caving-a-new-mining-method-arises

"Two commodities stand out within the relatively meager ranks of operating block cave mines: copper and diamonds, reflecting the method’s suitability for working porphyry and pipe-type deposits, respectively. Indeed, a rough count of current block- and panel-caves—as separate from mines using systems such as sublevel caving—suggests that there are fewer than 20 in operation worldwide. Some of those are, however, among the world’s largest in terms of underground production capacity."

https://www.e-mj.com/features/block-caving-mining-specialization/

Based on my conversations you should take what our resident 'block caving' expert says with a pinch of salt...

Alpala will be the second biggest block cave mine in the world.

Instead of tunnelling in at the base, they will be tunnelling in about half way up.

Keith was heading up Palabora when they did this in 2006

"The Palabora mining Company has successfully extended the life of its operation by developing a 30 000 tpd block cave underground mine below the now closed open pit. The process of transitioning from surface to underground mining has been technically, operationally and managerially challenging. This has been due to a number of factors, in particular, the development of a block cave in a very competent rock mass."

He also led the development of Oyu Tolgoi, the biggest block cave mine in the world:

"“Keith Marshall has been instrumental in the rapid development of the Oyu Tolgoi project; he was involved in the negotiating and signing of the historic Oyu Tolgoi Investment Agreement with the Government of Mongolia and has successfully guided the project into its construction phase."

True, load of companies can build tunnels, but this one is to extract high value ore and if you get it wrong people are dead.

I'm very happy that, with his track record and I hope he will be leading Alpala to development, not Quady...

the latter z...

https://www.kitco.com/news/2021-03-23/Goldman-Sachs-think-there-is-still-more-room-in-the-commodities-rally.html

https://www.kitco.com/news/video/show/Mines-and-Money-March-2021/3277/2021-03-23/Is-copper-about-to-surge-like-in-the-2000s#_48_INSTANCE_puYLh9Vd66QY_=https%3A%2F%2Fwww.kitco.com%2Fnews%2Fvideo%2Flatest%3Fshow%3DMines-and-Money-March-2021