Member Info for Ortherncopper

Good morning Quady.. Im not sure there is any evidence to support Tandy as a truly viable, open pit option... Tandy so far is just maybes, potentially and hopefully... and I'm pretty sure non of Tandy is not High grade..

I believe the fact the SR is dragging out, indeed, has now been classed as open ended, with no signs of any deal being done, tells us Cascabel is maybe not what Solgold originally hoped it was, or what they bragged about.

Just my opinion, but I think there must be real, underlying issues as to why no major has made any move since the days of the PFS... They could be just government, they could simply be current inflationary environment issues, but they could also be far more fundamental.. Many majors have been and cast their eyes over the data room, according to our management, we have had site visits, and claims of parties in Due Diligence over the recent years, yet non have decided they should make a move... even at these low prices...

I’d call that a good result all things considered with where we are now… I’m not sure it will get over 50p though..

"The delays are inexcusable. I am leading, with the support of the Board, a SWIFT reset in the organization with an emphasis on creating a PERFORMANCE ORIENTATED culture with accountability to all stakeholders as a core principle. "

"In my assessment, the weakness in the organization has for too long been a culture of non-performance in the corporate office. "

Ouch!!... im sure he now wishes he had no been so scathing of previous managements efforts and performance..

The DC information in the financials will be purely pay and settlement related ... Almost certainly, nice and fat and juicy, and not remotely related to performance.... 21st century corporates are gonna 21st century corporate I guess... and maybe update on the legal action he said would happen...

I’d be very happy if we can achieve 1.5 for the whole lot.. and that would require competing bids..

I think it’s fair to say if Solgold had discovered, through various technical studies, that Tandy was a viable open pit resource, we would all know about it.. and the share price would not be 15p. In reality we have had only hopefully, maybe and potentially with regard to the Tandy deposit.

And I think Scott’s re introduction of language, pointing to Solgold continuing solo with Cascabel, after his initial bluster, tells us everything about how discussions with potential partners/buyers is going..

We clearly have a large resource, yes, but how economically viable the extraction is, is still debatable.. Crux nailed this issue a couple of years ago. Many of the points they raised were never countered.

Any JV news would see an inevitable spike in price… certainly not back to 30s, but we would see a spike ..

But that would inevitably be sold off very quickly, as fed up shareholders, seeking any reasonable exit point from here, bail out before the price slides back to lows…. as the realisation of the coming dilution, mine build delays, and time to production and profits sets in..

The question would be how big the spike would be on any JV news, and how many investors would be willing to keep their funds tied up here until production…. Can any of us time that exit at the right point?

I’m also surprised we needed one…. Well it seems we how have 2…

Big news has been just around the corner for the last 4 years..

And KapilD earlier post this morning is correct..

11-12p range incoming without any positive update with regard to anything happening behind the scenes

Scott knows full well he isn't or wasn't, backed by the majors when he came in... However.... Maybe they will actually vote for him to stay given he has overseen a large valuation drop... he's been a great asset for them

There will be no detailed forward looking plan... it will be obfuscation

A detailed forward looking plan would raise questions regarding funding for such plans.... and they will certainly not just admit we are mothballed until further notice, in the MDA.

They are having a realistic discussion from what I can see… with realistically cautious valuations, considering the difficulty surrounding Ecuador and our less than impressive performance over the last few years.

Gone are the days of the usual rampers claiming £1.50 a share… and admonishing anyone who dared to disagree…

Even Redknight has stopped his 20 posts a day, dream scenario ramps….

reality is setting in.

Another major announced they chose to JV elsewhere… you could ask why?

Any bid here would be no higher than 25 pence… and there is no rush or indication one is on its way…

turns out, we may have to be mine builders after all….

There was a time when Irwin used to scoff and ridicule Solgolds management for continuing to invest time and money in the PFS study, saying any major who may buy Cascabel will just bin it and do their own… now, he claims to be excited about seeing Scott’s new updated PFS and mine plans, that they will unlock value… he is clearly just trying to put a positive spin on no progress and same old, same old Solgold Malaise

And Scott he I’ll not make it past the Agm… he has admitted that the big Shareholders were not happy with him as new CEO… though they will be happy He has cratered the share price as it means they may be able to pick it up for loose change further down the line when we need more funds

China is just the wider economic issue.. it will affect other markets and companies far more directly than Solgold, but we are not immune.

Our issue is quite simple.

We have, for some time now, been doing no exploration drilling… (since January Last year) We are mothballed… we currently have no plans to restart any exploration.

We have shut everything down and are now slowly burning through our remaining cash reserves rearranging the office furniture, watering the plants and generally trying to just look busy….. kicking the tyres, you might say.

The market has long since lost interest in Solgolds failed promise to deliver anything. It no longer listens to our managements hyperbole or grand projections…

We are now desperate to find a monetising event or we will need to do another raise before you know it. The whole mining world knows we want to monetise the asset… every party linked to our management have openly stated so…. Yet we still have no hint of any success there…

Surely you have to ask why??… Are there actually fundamental problems with the extraction of this asset that come up at due diligence stages? Is it, as some pointed out waaay back in the days of the Crux report release, actually not economically viable without far higher metal prices?

I don’t have the answer as to why the majors have never shown any real, substantive, eagerness in wanting to own Cascabel and gorge on its supposed riches, after our management hyping it up it to the world as the most incredible resource…. And BHP or Newcrest putting in 50-100 million and early stages, does not count as real interest in owning an asset… they do that regularly with many early stage projects..

We are now in the weakest position when it comes to any discussions.. we are the house seller in desperate need of a sale… and the potential buyers know it… Any offers, IF they ever arrive, will reflect that…. Until then we just slowly burn through what’s left of our cash.

DM Solg have tried for over 2 years to enter a JV with the regionals... We were told waaaaay back, parties were doing their due diligence on this.

For whatever reason, Solg have never been able to clinch a deal with any interested party.. We can only guess as to what the reasons may be... as we have never been updated on the matter. My personal opinion is maybe these tenements are simply not as great as Mather pretended they were, and parties have discovered this during DD and walked away..

The Noront Comparison should be dismissed out of hand whenever someone tries to use it..

Its like comparing apples with chimpanzees..

not a single trade for 3.5 hrs?

70p is just a dream…

What sort of spike do you see from any news of a JV?

25-28p and large numbers will bail out

Be realistic Slug… how much are you expecting?

I expect no higher than 35p

I expect India to assume the rising economic power as China starts to enter damage limitation

It’s probably the knock on consequences of chinas economic fall that will be worse… when they can not prop up all the countries that are technically ready to default, it becomes a house of cards.. and as is always the case, the poorest are affected first and the most..

Let’s hope it is soon…. But to be fair, you have been saying it’s not far off for about a year now.. and now we are mothballed…