Member Info for mattlilly

Don't be daft...the only difference is that some of us on here are very honest and transparent and others sell out and announce it much later...or don't say anything...

Interesting that people always trumpet their buys, but less so their sells...

I'll be back in if they go sub 20...

That Liberum report has spooked me...

On reflection, nothing to go for over the next few months...Election uncertainty until April 12th...

MD&A will show current cash position...

So sold 375,000...now just 100k for her and 200k for me...

A takeover bid or rumour could prove me very wrong but I'm very happy with what we've made so far and taken a view...

A chunk of the cash for each of us invested in CEY (high yielding goldie...)

Fingers crossed for progress here...

Sorry if anyone feels let down...

GLA

Sorry...almost £2 million...fat thumbs....

I agree...just do the maths...placing inevitable...six months to June they burned through almost `32 million...

Cash at June just over £2 million....

8 months since then and all the legal and associated costs of the failed transaction...

No I'm not decamping...juts waiting for a lower reentry point post placing...

Then onwards and upwards....

I've watched TM carefully and he is not very convincing right now...we shall see...

GLA

Its in Mather's comment:

"Continued strength in global copper and gold markets will further endorse the strategy of making the Cascabel project lower risk, quicker to build and bring to production if a development decision is made"

But rising copper and gold prices change everything...

Copper through $3.70 now and rising...watch this space...

Read the earlier article about M&A due diligence being desk based post COVID...

I still believe this is a game of 'chicken' for the would be predators...

Who will blink first...remember only last November Solgold was 'the hottest M&A story in the City"...they look even more attractive (and vulnerable) to a bidder as the bull market develops...

https://www.mining-journal.com/m-amp-a/opinion/1399422/takeover-battle-for-solgold-is-‘about-to-begin’

A notable absence of large trades going through today...that is good news...

Maybe it signals a period of consolidation...putting in a bottom (like Kim Kardashian...yuk...)

It would be even better if at least one 'Major Holdings' announced appears in the next few days...Valuestone would certainly light the blue touch paper...

Lets wait and see

Off duty for now...

I've been in countless Board rooms as a Chairman and/or Director and I have never seen a clash...differences of opinion occasionally, yes, but these matters are usually sorted out by the Chairman BEFORE the Board Meeting...indeed in all my 30 plus years experience I've never seen a vote on anything...you create a consensus view before you walk in...

Ultimate dictum as in Solgold going forwards...No Surprises...

I'm not against criticism of the NM regime and past missed deadlines for example, but comments such as "equity at 15p" or "going to 10p" add nothing...especially when they are posted by people who don't hold shares...

Negative speculation on the future doesn't help as there are by definition no facts to back it up.

I am firmly of the view that the new Board/Alpala Committee are completing a process of 'sweeping clean'...I have characterised this as 'kitchen sinking'...

Lets give them a chance...there is already a pattern of openness, honesty and realism developing, without the confetti of RNSs at the back end of 2020 that produced little or no progress and a refreshing absence of 'overhyping', especially with tedious repetitive conference presentations...

Will we ever forget 'shock and ore/shock and awe' and the vacuum of good news that followed.

I myself have posted constructive criticism both here and on 'the other side', including hammering the corporate governance debacle but the ESG focus and the new independent Directors give SOLG an edge over other players, especially the intemperate management of our 'junior partner'...

Its time to move on....

I have had a long, frank conversation yesterday with a key player and am very reassured and positive about the future, hence we are now back up at 675,000...

And no...I was given no inside information whatsoever...nor will I be...

https://www.whitecase.com/publications/insight/mining-metals-2021-esg-momentum-reaching-crescendo-resilient-market

The key risk for mining and metals in 2021 is ESG...at 45.4%...COVID is only 13.6%...

"This year, some 78.8 per cent expect ESG issues to play a greater part in investors' decision-making"

"The market's enthusiasm for copper is again reflected in our survey. The metal was the most favoured to outperform this year, with 36 per cent picking it to be the standout metal of 2021"

"Our survey shows that this surge in gold deals is expected to continue. More than 40 per cent said they expected precious metals to be the sector most likely to see consolidation this year"

"In total, some 78.4 per cent of respondents see potential for generalists (generalist investors) to be drawn to the sector."

https://www.nasdaq.com/articles/analysts-predict-a-wave-of-ma-among-gold-miners-in-2021-2021-01-11

"senior producers are keeping a watch for available world-class assets. Barrick Gold CEO Mark Bristow said in October that they would like to acquire world-class gold and copper assets..."

"desktop analysis of potential targets will soon become standard and replace due diligence site visits, serving as a catalyst for even more mergers and acquisitions.

Jalonen and team see junior and intermediate producers as potential acquisition targets for larger producers struggling to make up their reserves despite declining production."

https://investorplace.com/2021/01/analysts-predict-a-wave-of-mergers-and-acquisitions-among-gold-mining-in-2021/

"The pressure to replace mined reserves will be one of the big drivers for mergers and acquisitions this year"

"Additionally, they note that larger companies are trading on higher multiples, which means smaller mid-tier miners risk being left behind by their rapidly growing peers. This also creates pressure to make acquisitions and consolidate to keep up."

This Board is very quiet today...probably reflecting the market...loooking for direction...

TBH a quiet, settled day is welcome after Friday's mayhem...

Next staging post MD&A 15/16 Feb...summary Regional update...Ecuador election rerun on 11 April...

Unless...bid talk is revived...

Share investment io my 'day job'..

It is highly rewarding...literally...that's why I'm constantly reviewing information and markets...

SOLG isn't my only share, but I've strongly focused on copper/gold/silver for the last five years...

First, ATYM, then SOLG and HOC, FRES, GPM, POLY, CEY, EQX, PAAS, MAG, ARCM, etc...

Ideally I buy to hold, but circumstances change..as here...which is why you'll see me reporting substantial buys and sells to avoid losses, improve averages and maximise gains...

Boards like this help enormously because even though I have to filter a load of crud, its information and a range of constructive opinions that make a market...

BHP has a successful block cave in Nickel West...

Here is a useful paper comparing both methods...

"Block caving is a capital-intensive mining method, requiring significant initial investment early in the mine life for infrastructure and primary development. Once in place, the method’s high upfront costs are offset by high production rates and low operating costs (relative to other underground methods) over a considerable length of time, resulting in a low overall cost per ton. Block cave mining is among the least costly of all underground mining methods per ton of ore extracted. While the startup costs are comparable to those of an open pit mining operation, block caving operations have a significantly longer lifespan..."

"Exploring and finding rewarding underground deposits is a job that can be successfully completed by juniors..."

Here is the link to the PDF of the study...

"Open pit or block caving? - UNSWorks"

This doesn't make any sense...

Dollar down...

Goldman calling a commodities superbly market...

https://www.youtube.com/watch?v=reWoApdIykY

Copper hit a new 8 year high at c$3.70 today...

Gold up...

Silver up...

Miners down...

Any suggestions...?

Ssmith..I can say firmly that your interpretation is wrong at this stage...there is no decision either way as yet...as the RNS makes clear, the plan continues towards production...

Ship right that's not quite correct...it needed a thorough rework...it has always been feasible...especially if the current or higher copper prices...

I've been in touch with the company for months also...no inside info but don't say much on here because Icdont need to. Idontcdisgree with anything in Fawzis call but I'm talking elsewhere...in summary I'm far more comfortable going forward...

The loss of the year was 2020 and COVID...its still a factor in Ecuador...people had to take their own pencils to vote and queued for hours...

But as Icsaid, the delayed PFS doesn't have to mean a further delay in the DFS or the CFP, which they've been working on for months already, viz the initial FNV deal...

I think the truth of the matter Tos is that it represents the changing of the guard from the Oz regime to a totally Ecuador focused regime. It is true that we could have had a hint about Fridays change of tack before, but I suspect it needed a formal Board meeting to approve and working up a comprehensive form of words in two chunks. Regionals first, Alpala second.

It's very possible that if we had a heads up earlier the price would have fallen sooner and possibly twice...

We now have an MD&A on 15/16 which puts everything in black and white including cash at end Dec...then we can move on...

But there is no reason why the financial package negotiations haven't been able to continue in the interim...

And particularly US debt markets are starting to open up and if copper/gold/silver continue to firm, royalty deal offers will grow, especially from the Chinese who see copper as strategic and are worried about inflation...

And if they're worried about inflation the US should be...negative real interest rates and more stimulus are excellent for gold prices...

UT 296,768 at 22.5p...almost unchanged on the day and...

A 200,000 buy at 22.5p after hours...