Member Info for Ortherncopper

I too am hoping for some nice insight/meat on the bones from this presentation, but I think the last time I watched Jason Ward do a video interview/Q and A, (I can’t remember which) I’m pretty sure he re affirmed Rio would begin in a matter of weeks, just before KM rubbished that and said it wouldn’t be until the end of year. Let’s hope we have less of the hyperbole of old and more measured insight in to their plans

Glen Hoddle was a better player than a singer

I want news re positive direction going forward.... after several years talk about how potentially huge Rio may be, now we have permits, get the exploration of that big boy JVd and expedited at a pace... show some positive momentum and urgency to move forward. Solgs progress is a bit like watching England just pass the ball sideways at the back for 90 mins

Well it would be nice to hear something....... maybe something about all the parties that were just so interested in JVing the regionals... about progress with the CFP that so many parties were willing to do with us and was going to be so easy to set up..... maybe news about some improvement plans for investor relations would be a place to start.

It’s not pertaining to Solg, but that schlemiel, is very well expressed and very true.. unfortunately

After the last release of Porvenir news, back in March, especially the promise of hole 7 assays @1.2%, I was hoping for a really good follow up before now.... Hey ho... maybe the next porvenir RNS will be the MRE. The amount of drilling Data they are sat on, across the sites, must be huge, assuming drilling has not been interrupted in some way.

It’s worth listening to what he says when he speaks re solg and cgp, as on many occasions, over the past couple of years, his comments have proven to have worth.

Considering there are now 10% more shares in existence the price is quite strong. Equivalent of almost 40p before the recent issue is taken in to account.

Nothing near surface at all considering their previous comments regarding Tandy.... these drill results, although they add to Cascabel somewhat, are weak and not what was teased... not sure what the markets will make of this.

Just my opinion, but I think the replacement of Mather and confidence in Keith’s new approach played a larger part in that.. not the potential of drill results that have not been released yet.

Assays from the drilled Holes 8-11 Of Porvenir mentioned from the last regional updates, as well as Further holes drilled there since.

7 Holes from Tandayama
1 at Aguinaga

I hope these are promising.... Solg do have a track record of sitting on disappointing drill results.

Bit more meat on the bones of the PFS progress

The Company is confident that this revised approach being studied from that which was previously considered is much more beneficial for SolGold and will deliver significant shareholder value.
Key considerations that suggest the superiority of the revised approach currently being studied for the development of the Project include:
• much earlier access to the resource with shortest time to potential first production:
• a more selective mining approach, without sterilising the remaining resource, reducing dilution without
compromising metal extraction;
• optimal size and orientation of an underground footprint with the potential for two extraction levels to minimise dilution and upfront development Capex; and
• mining of higher head grades in the earlier years of potential production.
The company is optimistic that the revised mine plan currently being studied as part of the PFS process could deliver similar metal production while mining significantly less material. This could result in potentially significant cost savings. The crushing, processing and waste storage requirements are also expected to be reduced accordingly as would, in this potential scenario, the upfront capex associated with these installations. Anticipated benefits of the revised approach being studied include lower expected execution risks, lower expected pre-production capital and significantly reduced time to first potential production.
SolGold is also investigating options that could provide further upside to the value of the Project including:
• near-surface, open pittable mining options at and near the Alpala deposit;
• hydroelectric power options to reduce power costs;
• further metallurgical testing to increase copper, gold and silver recoveries; and
• electrification of underground production mobile plant, thereby reducing requirements for fuel, emission control and ventilation with additional likely reductions in capital expenditure and operating costs
A number of proof-of-concept level studies on these options have been initiated beginning with geotechnical and mining options. These are being followed with more detailed studies and are expected to be included in the designs for downstream processes and infrastructure. These studies are on track for the delivery of the PFS in late 2021.

It is interesting we have taken up more holdings of cornerstone..

Last one was after hours on a Friday if I remember correctly

I’ll happily see it go to the highest bidder.. I don’t mind admitting that.

Any party over the 3% holding threshold will/should have their share totals published in the upcoming MD&A due probably next week

9 million shares traded so far today and this is flatlined at 27p... hmmmm

2.5 times oversubscribed. Could definitely have been done at a higher price. People getting excited, but there is no getting away from the fact we are several years down the line from when BHP paid 45p, several mre for Cascabel, promising new find at Porvenir, and we are printing shares at almost half what BHP paid years ago..

What is a cash box placing?
Published 11 May 2020

A cash box placing is a method of raising cash from the issue of equity securities structured as an issue of shares for non-cash consideration. This allows companies to issue shares without seeking any shareholder consent or convening a general meeting and is very useful for a company that needs to raise funds quickly. It allows for an issue when there is either none or not sufficient disapplication of pre-emption rights authority and enables a larger issue than would be authorised by a standard disapplication, although a general authority to allot shares is still required. In addition, this structure may allow distributable reserves to be created by using merger relief.

Note that this is in addition to the usual general authority required by the directors to allot shares

The issuer issues shares in exchange for the transfer to it of redeemable preference shares in a special purpose subsidiary. The only material asset of the subsidiary is the cash paid to it upon a subscription of shares by an investment bank (or broker). The bank/broker funds the subscription price for the preference shares from the proceeds of the placing of the company's equity securities.

Whilst avoiding the pre-emption rules is one of the key advantages to a cash box placing, it also helps avoid the costs of producing and distributing a circular (where applicable) and notice of meeting, the delay in waiting for the requisite resolutions to be passed and the risk that the resolutions might not be passed.

Well this certainly puts to bed my, and many others hopes of a third major like Rio/Barrick/Glencore etc from coming aboard with a decent stake... bit dissapointed..

"The Directors have reached this decision in this particular circumstance and after consulting with and taking into account the views or concerns of certain shareholders" clearly they have been talking to BHP and Newcrest regarding a raise.