Member Info for mattlilly

Did you pick this up Quady...?

"the sizeable 44% vote against the CEO appointment at the December 2020 AGM made his position somewhat untenable..."

And

"The previous note of 23rd December shows that they have pushed production back to 2027 due to Solg's ongoing delays..."
Hannam are strongly supportive of SOLG and Ingo Hofmaier is ex Hannam...

https://www.linkedin.com/in/hofmaier/

So was Fruta del Norte...

Its taking time because SOLG is too small and Nick has had too tight a control over everything...

I agree it will proceed to p[roduction under somebody else's leadership whether by JV or T/O...

Lundin Gold purchased Fruta del Norte in late 2014 for US$240 million. Since acquiring the asset, Lundin Gold completed a feasibility study, signed all major agreements with the Ecuadorian Government providing for the fiscal and regulatory regime and economic stability, and subsequently financed and constructed the mine and infrastructure on time and on schedule in five short years. First gold production was reached in November 2019 and commercial production was achieved in February 2020.

This statement predated COVID...PFS end 2019...several missed dates since...

May 2019

2026...correct...apologies...

"Over the period to the end of 2019 when SolGold aims to complete the prefeasibility study"

I know many of you have been here for a long time, but doesn't it strike you that this is taking a very long time to come to fruition...?

Of course there has been coronavirus, but SOLG have been back 'on site' for at least six months...

January 2013:

"The Board of SolGold plc (AIM code: SOLG) is pleased to announce that channel sampling at the Alpala Prospect within the Cascabel Project in Ecuador has returned highly encouraging gold and copper assays and confirmed the presence of a significant gold-copper porphyry system."

Drilling commenced in September 2013....

There were then 75 'Cascabel Exploration Update' in three and a half years to July 2016...

In January 2018 the MRE was announced with this:

"We plan to immediately follow this maiden MRE up with initiation of a PEA (Preliminary Economic Assessment) of the deposit at Alpala, towards commencement of the PFS (pre-Feasibility Study) later in 2018."

November 2018

"The Preliminary Economic Analysis (PEA) is advancing and Feasibility studies will follow seamlessly. Our aim is to fast track towards development."

The PEA turned up in May 2019 together with this:

"Over the period to the end of 2019 when SolGold aims to complete the prefeasibility study,.. SolGold will also commence...financial discussions with third party financiers for SolGold's share of the project costs following completion of the Feasibility Study."

And the Chairman's Statement in the 2019 Report, August 2019 said:

"SolGold now looks forward to the completion of the Pre-Feasibility Study (“PFS”) which is targeted to be completed by end Q1 2020."

The PFS is now not likely before end Q1 2021...and NM has suggested the DFS (and therefore CFP) may not be until 2022...

That pushes production back to 2027 earliest...

Can anyone persuade me that a PROPER major miner wouldn't have done all this a great deal quicker...

You are all immensely patient...I salute you...

I don't think they would be allowed to speak to you about anything DBW if there was even a sniff of a deal being done...

Lots of big lumps going through...the price may be falling steadily but the lumps keep getting taken by the MMs...

Must be going somewhere...

Yes the PFS was due end September last year, revised to end January this year and almost certain to be by 31 March...

CFP is conditional on DFS (not PFS) which is scheduled by end 2021...

However, PFS will give everybody a handle on how much money will be needed and how handleable the financing is...

With BHP?NCM having eased out Mather we can reliably expect a substantial debt element with some equity...if we get that far...

Everyone knows my bet is either BHP to JV Alpala and/or a takeover bid from a major...

Sotolo...congratulations on having the honour of inaugurating Kamala Harris...

Meanwhile, remember HOC has REM prospects as well...

Lets hope its not rope a dope...

Its not exactly the most liquid of shares...I had to do my 500k in two lumps this morning when things were much quieter...

Guillermo Lasso was narrowly defeated 3 years ago in an election that was called out as fraudulent...

Sound familiar...?

Maybe thats where Trump got his ideas...

https://www.bbc.co.uk/news/world-latin-america-39475555

I don't think this will do SOLG any favours if he gets elected...

https://translate.google.com/translate?hl=en&sl=es&u=https://4pelagatos.com/tag/andres-arauz/&prev=search&pto=aue

She'll do for me! Passionate support for Edinson Cavani...

https://translate.google.com/translate?hl=en&sl=es&u=https://4pelagatos.com/2021/01/05/gracias-negrito/&prev=search&pto=aue

I'm firmly bid at 3.215p...

I've got ARCM...bought at 1.49p in May...

I agree...its also why I've diversified into ADT1 and ARS...

I very much doubt that they are required to RNS drill results, unless they are independently assayed...

Although it will be frustrating, I pleaded with Nick to stop issuing so many drill results and overhyping in conferences (shock and ore), so I cannot complain at this new approach...

This is the way a 'major miner' would operate, including not p*****g off major shareholders...

It may be more boring and we may have to wait longer, but results in future will have more impact IMO

In the meantime, I've sold 50,000 to double my holding in ADT1...I'm not losing faith in SOLG, but I need to keep my portfolio moving and diversify the risk...even though I believe the next significant move in SOLG will take us through 50p, I'm equally attracted to ADT1, where Sandfire have a 16.1% stake

Paul Cronin would make an outstanding CEO for SOLG...

Chinese heavily into Indonesia also...not just coal mining...

https://asiatimes.com/2020/11/china-solves-freeports-3-billion-problem-in-indonesia/

Thanks GGG...sounds rational...

If there is a capital raise I shall have to decide what to do next...

It was pretty hard to get stock when I did and I had to leave best price orders in...more liquid now, because of course MMs stuff the price down and shake weak holders out...

The situation in Indonesia was the reason I sold in the first place, but there are so few Tier 1 assets...and the Chinese are hungry...as also in Ecuador (where they've taken a stake in SOLG)...so could they be involved in PT WIN...?

https://theconversation.com/growing-ties-between-indonesia-and-china-may-hurt-us-indonesia-relationship-148532

"The relationship between Indonesia and China has been growing in the past few years."

And then there's Grasberg...

https://asiatimes.com/2020/11/china-solves-freeports-3-billion-problem-in-indonesia/

Meanwhile, I wonder if AE are buying in the background...?