The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
I’m still hung up on Blanca. Remember a while ago when NM was suggesting that they could bootstrap the build costs against the Blanca grades. This is totally silent now. Blanca was cause of an issue for CGP hence split of tenements a year or so back. Since then no mention of bootstrapping. This is why I believe Solg want CGP so much and I believe they are withholding info about Blanca. I predict after CGP is sorted we will get a flow of news on these bonanza grades...IMO
Thanks All - I misread the line and thought there was something we were missing. Makes sense now.. CGP=toast
" The balance of the proceeds are expected to be used for SolGold's share of the development of Alpala pursuant to agreements with the minority shareholder of Exploraciones Novomining S.A. (ENSA), Cornerstone Capital Resources Inc.".
Don't know why they have to get agreement from CGP. Any ideas?
This could be a clue - but is it too obvious. NM knows he has to get shareprice up and anything to create speculation excitement about a potential takeover or sale will do exactly that. An obvious clue or a red herring?
CD agree - and may be one of the Due Dil blocks for the FN deal.
Fully agree rcgl2 - in addition (from memory) did CGP hive/spin off their other assets so as to make a CGP a one asset company?
Is this the same broker that gave the Barrick rumour by September?
https://www.greenleft.org.au/content/australian-mining-companies-plunder-ecuadors-gold-and-copper
Interestingly it states BHP has upset locals so BHP may need Solgold to remain on board...
Interestingly one of the reasons to replace the board is to stop the FN deal.
Yet they wish to replace the board in October IMPLYING that they do not expect the deal to complete before then....
Any Chartists out there also see a cup and handle pattern developing?
BNc/Pinot,
Hope you are well.
I know that the split was sorted out but my point is how does this play out with Blanca 1 & 2
Blanca 1 = Carnegie Ridge (=100% SOLG)
Blanca 2 = ENSA (=85% SOLG/15% CGP)
The Cielito vein looks like it straddles both Blanca 1 and 2. Solg have been silent on the matter. Hence is this why they are not releasing drill results for Blanca (they do have have licence to drill here).
Suppose they released them - and it was a viable mine - who owns it if it straddles both blanca 1 & 2? ENSA? Carnegie ridge? Can you see the issues playing out?
My view is that Blanca is the cause of CGPs issue with SOLG. Look how close the "bonanza grades) are to the ENSA concession (figure 5) https://www.rns-pdf.londonstockexchange.com/rns/9047H_1-2019-8-5.pdf
The Cieleto vein runs through both Carnegie Ridge and ENSA concessions (Fig 3) https://www.rns-pdf.londonstockexchange.com/rns/9963U_1-2018-7-18.pdf
Surely this in itself causes an ownership issue and suspect this is why there is silence on Blanca drilling. (and maybe CGPs accusations?) Before NM has openly stated that Blanca may be a fast track way of getting gold to bootstrap the Apala funding. If drilling was done here and grades were good - would this change CGPs position - ie would this make them more attractive based on bootstrapping for the rest of the mine?
Clearly for SOLG to acquire CGP would resolve this.
Apologies if this has been discussed before.
whl- strange that “everyone has emails on their smartphones....”. Except you of course when you were in the pub!
Makes CGP look like an amateur bunch (again).
Colonel re your comment "CGP do have other licence blocks and these have terms which require some cash burn to fund them so on average I think they burn around $500k per month but you'll have to hop over to their sedar reports and work it out for yourself.".
I recall in around 2017 CGP span off their other assets and concessions - so do they have this burn rate? not sure of the answer here.
Ice - "So all of the chosen targets have been chosen for an initial gold bonanza imo.all near surface, all cheap to extract. Obviously pointing to a secondary strategy beyond cascabel."
Agree.
The RNS from Monday states this after the regional drive header:
"The Company wholly-owns four other subsidiaries active throughout the country that are now focussed on thirteen high priority gold and copper resource targets, several of which the Company believes have the potential, subject to resource definition and feasibility, to be developed in close succession or even on a more accelerated basis compared to Alpala."
BNc - I have had to phone Barclays and they need to request transfer. It is not as simple as dropping in the account (apparently). Give your stockbroker a call...
Just to let everyone know, have emailed Eliza and she informs that "Correct, the plan is to release drill results as they are ready and material, once drilling commences. SolGold aims to replicate the blueprint created at Alpala for all priority targets, which will mean frequent dill hole updates."
Has anyone got sight of level 2 now? How is the book looking?
thanks
Addinckt- re “sticky shareholders”. Depends if it is DGR, Tenstar etc....