Chris Heminway, Exec-Chair at Time To ACT, explains why now is the right time for the Group to IPO. Watch the video here.
Addicknt - I think I'm already on BBG (and redknight) filter list anyhow!
But still trying to make a factual contribution for the benefit of users of the board.
I agree with you re: it being a more exiting time for Solgold. At least vs. the last 12 months!
I don't agree on those workings BBG...
Why use the $2.7bn 2022 PFS spend? We've overwritten that with the low-capex PFS.
Also there is an existing IPA in place for the 2022 PFS?
This is the tweet that mentions the $4.8bn, with photos of 4 groups with agreements.
https://twitter.com/RecNaturalesEC/status/1764820784797655192
Looking at the PDAC brochure (https://cme.org.ec/brochure-digital-pdac-2024/) I think I recognise:
Atico?
Lumina?
Addicknt - I didn't think it tongue-in-cheek.
Would have been a great opportunity to agree and then announce - on the day of talk - the IPA.
What better way to show Ecuador open for business and investment framework to encourage/protect business. With a globally significant Tier 1 asset.
Recent articles seem to suggest changes required to Constitution to enable the full protection framework that Noboa wants to offer / investors require? (I don't know the details).
Could be what is holding up improved IPA for Solgold?
Redknight - re: your reference to Porvenir drilling...
Isn't that the 2,610m of infill and extension diamond drilling referenced in the 1 Dec 2023 Porvenir RNS?
Holes 21-27?
I wouldn't worry about that Quady.
Solgold have been meeting their (relatively modest) minimum spend commitments.
It may actually help Solg - focus on the top 10/20 instead of trying to keep 80+ (including ex-CGP concessions) going...
... and force some JV/farm-out of those lower down the priority list?
The reopening of the mining cadastre is likely to have a bigger impact.
Management really need plans for Cascabel/Porvenir and priority regionals sorted.
That's par for the course now BBG - SOLG management have no interest in keeping the PIs/wider market informed.
(Although I do note that PDAC is now shown as an 'upcoming event' on the SOLG website).
Frustrating to not know what Noboa or Scott said. Would have been a great opportunity to announce an improved IPA or highlight a globally-significant Cascabel project.
But given the lack of RNS (or mention of these items in today's RNS), I guess it is more talk and grandstanding than action.
WHY do people continue to recommend posts that are obviously wrong?
BBG's "Due 40 days from revised pfs update... end of March"
I've pointed out in previous posts that the Technical Report NI 43-101 filing requirement is 45 days.
It even says this in the PFS RNS:
"Next Steps - SolGold intends to release a NI 43-101 technical report on Cascabel within 45 days of this release (the "Technical Report").
There is another Ecuador session at this year's PDAC, organised by Mining Chamber of Ecuador. On Monday.
Would be good if Noboa was there to discuss (or announce following earlier meetings) opportunities with potential developers/financiers.
www.pdac.ca/convention/programming/presentation-and-reception-room-program/sessions/presentation-and-reception-room-program/ecuador-world-mining-destination
"The Mining Chamber of Ecuador, in partnership with the Ecuadorian government, has fostered an environment conducive to foreign investment in the responsible mining sector. With a promising geological potential and a proactive government eager to encourage investment, Ecuador presents an excellent opportunity for investors with a long-term vision in the mining industry."
Thank you DBW. I was going to ask redknight what drilling he thinks is actually underway (but as he has most on filter he wouldn't have answered anyhow).
He seems to be in a parallel SOLG universe. Open to interpretation whether just ill-informed (Autobots, MSCI, drilling, close periods...) or deliberately misrepresenting for his own position.
Fort - can you explain what you posted earlier:
"A royalty deal or a sale or something has to happen before end of March for accounts purposes imho. Auditors will not sign off accounts without a clear idea on funding for next 6 to 12 months."
I thought the interim consolidated financial statements were 'unaudited'?
Indeed the 6-months statements to end-Dec'23, and 9-months to end-Mar'22, clearly state 'UNAUDITED'.
Isn't it just the full year (end-June) accounts that require an audit opinion?
i.e. nothing that 'forces' corporate action to take place before end-March?
To be honest SharketMare, my interpretation was:
I sell manure.
I'm confused by the RNS - so much for reducing headcount and costs.
And an intriguing comment by Scott:
"...as we navigate the dynamic landscape of the mining industry..."
To me - and my frustrated PI mind - it sounds like things are still up in the air.
Good link Adieuk32. I'd forgotten Scott had been so clear on the Kitco interview.
But it's the usual for Solgold. Over-promising and under-delivering. And not offering an explanation or apology.
Christ, why are SOLG tweeting about a 'uniquely compelling investment opportunity'?
Surely the required investment is all agreed and sorted, right Scott? SCOTT???
An interesting point HfH.
But serious parties would already be in the dataroom.
We know management don't give a stuff about PI comms anymore.
So why the updated slides? Potential financiers? Future industry presentations? A nice 'glossy' for the Govt when presenting future plans?
I like it.
Regional slides are much improved too - a reminder of the fantastic opportunities.
Plus, importantly:
"Negotiations for investment protection agreement well advanced".
RICH3R - agree, and unfortunately this is what we're left with, with a company with 6 full-time employees!
No investor relations or replies to emails.
I mean, it took them 4+ days to tweet about their own PFS!
I'm not worried about short-term funding.
Should be easy for SOLG to place the CGP shares / placing / another NSR.
The issue is at what cost - shouldn't be any sort of placing at these levels, and another NSR erodes what is already a challenging IRR (on a minimum capex basis).
Simple fact is the market is waiting for a tangible plan for developing (and funding) Cascabel. And SOLG is still keeping the market waiting.
Adieuk32, for the April-22 PFS, SOLG also said they would file the Technical Report NI 43-101 within 45 days (which they did).
Nothing unusual there. 45 days is just the National Instrument filing requirement.
Separately, I asked if you could explain what you meant by:
"Ecuador government have 3 months, from December-23 to approve the development"?