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Last night I couldn't get my head around why BHP would sign an agreement to only acquire 246m shares.... do you think that they felt NM was doing them a favor at issuing 100m share at 45P????

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LUCKY CANADA!!!

Could Undiscovered Lucky Minerals (LKY: CN) be the Hottest Junior Miner in Ecuador?
2018-10-17 07:31:59 AM ET (ACCESSWIRE)


Ecuador is attracting hundreds of millions in investment dollars from top-tier majors, and the volume of deal flow in this region should catch the eye of any avid mineral investor. BPH, AAL, and NMC have all made efforts to take a stake in the region. Lucky Minerals (LKY) is the latest junior to report promising mineral sampling from a property in Southern Ecuador. Their concessions are near to the successful Fruta Del Norte mine, which was acquired for $1.2 billion and just received $400m in funding from top investors. Lucky's property could hold similar promise as this seminal find in the region. The company raised substantial capital already this summer and will continue exploration rapidly, reporting ongoing sampling and surveying results over the next 12-18 months. As things heat up and more information comes out about this underappreciated property, it may only be a matter of time before this virgin property sees its own investment from a major.

NEW YORK, NY / ACCESSWIRE / October 17, 2018 / Anglo American (AAL) has become the latest in a long string of miners to claim a foothold in Ecuador, and the deal flow here continues to impress.

The country has made headlines, slowly, as a key mining destination over the last few years, attracting hundreds of millions in new investment. This area is going from contrarian mining opportunity to mainstream as majors get involved. To name a few of the recent deals:

Newcrest Mining (NMC) took a 14% stake in Lundin Gold (LUG), which plans to bring the Fruta del Norte gold and silver mine in southeastern Ecuador online in the next 12-18 months. Lundin Gold raised $400 MILLION to fund this project in 2017. BHP (NYSE: BHP) now holds an 11% stake in SolGold (SOLG) to access the Cascabel copper/gold project after doubling down in October. Cornerstone Capital Resources Inc. (TSX-V: CGP) holds a stake in Cascabel as well. Anglo American (AAL) has now entered a joint venture agreement with Luminex Resources (LR) for three copper and gold concessions.

All of this is thanks to an improved regulatory framework and a big investor engagement campaign in Ecuador as the country opens up a promising mineral region to international firms and investors.

The number of un-partnered but explored properties is dwindling, and Lucky Minerals (LKY) could be the next big entrant as they begin to understand exactly what their property might hold. This company is exploring their promising Fortuna property, only 40 kilometers away from Lundin's Fruta Del Norte mine, and in October they released their first early exploration results with very promising findings.

Fortuna is promising partly due to its similarities to Fruta Del Norte. When this particular project was discovered by Aurelian Resources ten years ago, that undiscovered stock climbed from 50 cents to an astonishing $40.

If we don't like what someone says I recommend sending him/her to the Saudi embassy in Turkey.... they can deal with anyone who bad mouths SOLG for us!!!!

GLTA

Whenever a large company does a PP like this I find the shares linger lower for a little while and than gap up significantly.... I think you buy on any dips aggressively as the last 5 weeks are a game changer for SOLG and much bigger news than we had last year with the run up in price much higher.

Watch Cornerstone. It stayed quite strong over the last week when SOLG dipped. I found that very telling and bought some SOLG based on CGP staying so strong....

The MRE is now a glaring light down the highway that will get stronger over the next 2 months...... Merry Christmas to all!!!!

Very excited

I find BHP's timeline rather impressive... Buy 6.1 % of shares without consulting NM and than taking another 5 % within 4 weeks.... they have a plan and it's being executed... obviously the 246m shares are also on their radar and will be taken up soon...

I think the 246 million shares must be already close to being committed to BHP based on a formula of where SP settles. It must be a deal with CGP and maybe a few other institutions. CGP owns not only 10% of SOLG shares but also a 15% chunk of ENSA. BHP will probably wait for the dust to settle and SOLG SP to find it's new level. At that point I'm sure they strike again with whoever they are negotiating to acquire all those shares at another 30% increase. I don't think this will take more than 4 weeks and it will increase BHP's holder to over 20%. I'll bet they take CGP shares in SOLG and it's stake in ENSA at the same time and leave CGP alone. GREAT news... GLTA

Dont worry about all the noise.... just stay on the boat, there may be some choppy waters but the boat is chugging along IMO....

Mr. Andrew Chubb serves as Partner at Hannam & Partners (Advisory) LLP. Previously, Mr. Chubb served as the Director at the firm. He was a Managing Director of Canaccord Genuity where he worked for almost eight years in the natural resources team. Prior to that, he spent four and a half years at Berwin Leighton Paisner. Mr. Chubb has a broad range of international corporate finance, capital markets, and merger and acquisition experience focusing on the metals and mining and natural resources sector and has successfully advised on numerous IPOs, public and private equity and convertible capital raises and merger and acquisition transactions including AIM, TSX, ASX, NASDAQ, and Official List companies, with a particular focus on Africa and the FSU

Mr. Ingo Hofmaier serves as a Partner at Hannam and Partners (Advisory) LLP. Previously, Mr. Hofmaier served as a Director at the firm. He served at Rio Tinto focusing on joint ventures and multi-jurisdictional transactions. Prior to this, he served as a Managing Director at Wienerberger for four years and two years with the firm’s corporate finance team responsible for corporate mergers and acquisitions work and financial planning for the group. Mr. Hofmaier has 16 years of experience in corporate finance, corporate mergers and acquisitions, and general management in Europe, Africa, and Asia. His sector and commodity experience spans coal, bauxite and aluminium, iron ore, potash, phosphates, uranium, base metals, steel, and building materials

Im sensing a large block about to trade in next few days... than up we go again...glta

Your right dg... but I also have a position in CGP and it's far from it's peak... it does feel as if it's going to jump higher but I'm quite surprised at how low it still is....

Have a great weekend

Owhnt

I do find it strange how the SP had so much downward pressure up until bhp bought a stake. Seems a bit manipulated to me... great RNS's and still downward pressure... someone was purposely knocking it down IMO. Seems that someone is trying to hold it in here as well as it should be as high as last years peak right now?

Exploraciones Novomining S.A. ("ENSA"), an Ecuadorean company owned by SolGold Plc and Cornerstone, holds 100% of the Cascabel concession. Subject to the satisfaction of certain conditions, including SolGold's fully funding the project through to feasibility, SolGold Plc will own 85% of the equity of ENSA and Cornerstone will own the remaining 15% of ENSA. SolGold is funding 100% of the exploration at Cascabel and is the operator of the project. SolGold shall receive 90% of Cornerstone's distribution of earnings or dividends from ENSA to which Cornerstone would otherwise be entitled until such time as the amounts so received equal the aggregate amount of expenditures incurred by SolGold that would have otherwise been payable by Cornerstone, plus interest thereon from the dates such expenditures were incurred at a rate per annum equal to LIBOR plus 2 per cent until such time as SolGold is fully reimbursed.

ss7... incredible find on Hannam.... very impressed .. well done

We need the profit takers from this latest move to finish taking their profits and I think we should start moving upwards very soon. Stating that MRE is going to be 2 months may shake some of these guys out as they don't want to wait that long and will go elsewhere and come back closer to December. GLTA

December is 8-11 weeks away and

I think the new Nafta deal may be a start at igniting copper price. The fact that the US found a middle ground with Mexico and now Canada can only be a good thing for copper.

SOLG seemed quite strong at end of day Friday... hopefully a little pop tomorrow morning in London!!!!

GLTA

obviously someone has been kicking tires and he's not interested at their price

Schmeil point is that debt holders own your butt when they lend you money..... all is good until you are in a tight situation and than they recapitalize the company and the common shareholders get screwed... his point isn't that everything goes perfect as there is lots of risk here.... it's when things go south.....