Member Info for mattlilly

Great find Padmaster...reasoned an objective article that was published BEFORE the recent RNSs (28 September)

So even more bullish now...

UT Correct 272828 bought at 35.95

UT at 35.95...?

SOLG up 3.5%...CGP down 2.5% since the open...what does that say...?

Tight spread 35.9/35.95...BUT...I'm bod 35.7 for 250,000....

Its going to be an interesting UT and after hours...

Jerry...surely the over $40m raised recently will be more than enough to keep us going for a fair while yet...?

Keep right on ejnjoying...

Just a smidge shy of 37p now...Nick hit the MMs just as they were taking it down...

Surely nobody in their right mind would consider selling now, for fear of another sudden RNS at any time...

So with new buyers, bandwaggoners and people who previously sold (especially in the last few days) with the hope of buying back cheaper, this should pretty much go one way for the time being...

Markets are driven by Fear....latterly, FOMO (Fear Of Missing Out)...lets hope that plays out here...

Today's UT and after hours should be fascinating...

Nick is certainly keeping the MMs on their toes...

Hopefully, every time they try to mark us down, another snippet will be announced...

Will we break 40p today or tomorrow...?

You're right earthling...and because it's at the surface, much cheaper to develop and therefore a higher NPV...

Bring it on...

Rio Amarillo next please...that could be the real BIG ONE...

I have no reason to say this...just hunch...but, despite NM's protestations, I wonder if he is knowingly setting up the conditions for an auction...

In the BR Media broadcast, he states that the DFS should be ready "by the end of 2021"...that's six m months slippage this year alone...

With the PFS possibly not arriving before end October; the CGP EGM decision; the BHP handcuffs off; the macro conditions, including longer term copper and gold price prospects; the diminishing world supplies; factors in the article I posted below;
the economic and Stock Market uncertainties (including the outcome of the US election)...

Does he really want to run with an uncertain outcome until first production?

Would he take a bid for Alpala alone (CGP would), despite his protestations about tax, to fund the development of the 13 other regionals?

Surely there will be a raft of majors lined up, waiting to see who will blink first...?

If an opening bid would be at no less than twice the SP, that's already gone up from 50p to 70p in a matter of weeks....

And if the Chinese are that desperate for gold and world economic dominance, surely they would pay silly money for a rich asset portfolio like this...?

Exciting times...and quite scary really...never dreamt one day we would be "rich"...with the choice to help the less well off...

https://www.cnbc.com/2019/07/18/how-much-money-you-need-to-be-rich.html

AIMHO as usual...

https://kingworldnews.com/man-connected-in-china-at-the-highest-levels-says-china-is-not-only-going-to-continue-buying-gold-but-they-are-about-to-start-buying-gold-mining-companies/

Sorry been on holiday for week...don't know if this has been reported...

https://www.brrmedia.co.uk/broadcasts/5f759c98c4d0076f2b93aaab/solgold---pre-feasibility-update-and-regional-exploration

Key points include:

Explaining PFS delays (sounds like it could be end Oct, reading between the lines; DFS by end of 2021...

"We've got draft terms for around $3 billion of development finance...we need to turn those into Term Sheets for the provisional debt funding..."

"We're not just sitting on one Alpala, we've got a whole string of them throughout Ecuador..."

"We're going to fast track the Porvenir project...1.7km long and up to 600m deep...we're going to start behaving like we're preparing a PFS for this one (Porvenir) as soon as we get the drill data...

Our Chief Technical Officer is already calling it another discovery...

We'll have more rigs turning than any other company exploring for copper in Ecuador...

Its (Porvenir) exciting our Board as much as Alpala..."

Rio Amarillo...no contest...

AIMHO as usual...

Earlier today...this could easily replicate GGP or more now...still way under £1bn MCap...small change for a major like Barrick or BHP, even at 5 times the price...

AIMHO as usual...

She's very good is Eliza, but by golly we need the PFS and drilling results this week....

While the company itself necessarily provides the bulk of the input, a PFS does of course need independent verification for credibility...

"There are three common reasons for carrying out pre-feasibility studies as follows:

As a basis for committing to a major exploration programme following a successful preliminary programme. It is possible for commitments of tens of millions of dollars or more to be made for ongoing exploration and development on the basis of a pre-feasibility study, prior to decision to mine. For example, where ore reserves cannot be proven by surface drilling, underground development may be required for exploration at an early stage of the project.
To attract a buyer to the project or to attract a joint venture partner or as a basis for a major underwriting to raise the required risk capital. A pre-feasibility study may also be prepared in full or in part by potential purchasers as part of the due diligence process.
To provide a justification for proceeding to a final feasibility study.
The results of a pre-feasibility study may be the first hard project information that is seen by corporate decision makers. There is a risk that the findings are committed to memory and announced publicly so that it becomes difficult to dislodge them with subsequent information. In such cases, the pre-feasibility study is the real decision point, with the subsequent feasibility study being seen by management as a necessary step along the path that has already been irrevocably committed.

For these reasons the pre-feasibility study must be prepared with great care by experienced people, and its conclusions heavily qualified wherever necessary. Assumptions should be realistic rather than optimistic because it is very difficult to bring management and markets back to reality in the event that the final feasibility study is significantly less favourable. The main features of the pre-feasibility study are:

Mine design based on a resource model.
Best alternative selected from a range of alternatives.
Preliminary studies completed on geotechnical, environmental, and infrastructure requirements.
Bench scale metallurgical tests and preliminary process design completed.
Cost estimates based on factored or comparative prices.
Usually result in an Ore Reserve estimate
Study accuracy 20% to 25%.
Ready to proceed to final feasibility study."

The PFS will be late...Mather's always late...

Probably first week of October...?

AIMHO as usual...

Barry, here is a list of the ones I already own...if they simply returned to their last full dividend they would yield an average of 15% plus on the prices I paid...if all goes well here I may be able to get that seven higher on the further purchases of the same...

AV, BP, BT, CNA, DLG, GFRD, INV, ITV, LGEN, MNG, NG, RDSA, SLA

Hope that helps...DYOR, AIMHO and good luck mate!

PS the list was put together after a day's detailed research...

I agree with you too DBW...I also bought some a little early and am down an average 10%, but they'll come storming back and they are for a 5 year view...

I bought back into HOC today at the bottom as well as my SOLG purchases...

My strategy is that when I sell half my SOLG (at no less than double bubble but hopefully a great deal more), I shall buy more of the echelon of quality FTSE former high yielding; stocks...

For the time being, apart from those early entries, my portfolio is dominated by copper (SOLG and ATYM), gold/silver (HOC/SOLG?GPM) and other speculative miners (ARC/JAY/ADT1)...

Everything in a massive ISA so I look forward to a tax free income of c£80k pa if all goes to plan...
GLA