Member Info for Padmaster

NM “It is fairly conceivable that as SolGold grows, we could have 10 exploration and appraisal projects going on at once.”

“Five projects working under the SolGold banner over the next 20 years, delivering in excess of USD80 billion a year in extra income for Ecuador, which will completely change everything for Ecuadorians.”

https://www.thebusinessyear.com/ecuador-2020/nicholas-mather-ceo-solgold/vip-interview

E, I, E, I, E, I, O,
Mining major here we go,
And with 3 billion funding,
This is what we’ll sing,
We are Solgold, we are Solgold,
NM is our king.

Colin Bird interview within the last week - worth a listen for anyone who hasn’t heard it.
All sounds very promising.

https://m.youtube.com/watch?v=ufqQwFRfSAI

Closest I can get Oiltap is this from the half year report December 2019.

“A South African major fertilizer producer ("MFP") offered terms for the purchase of phosphate concentrate as feedstock in MFP's fertilizer processing plant”.

When Glenover is sold we can expect a massive rise in share price IMHO.

Glenover already boasts a robust preliminary economic assessment
But Glenover has several advantages over other rare earths projects in development, not least its advanced stage.

The rare earths scenario is based around a resource of just over 10mln tonnes of ore grading 2.13% total rare earth oxides, and envisages production of 167,100 tonnes of rare earths over a 24 year mine life. The project, as evaluated in 2015, has a net present value of US$512mln and generates an internal rate of return of just over 34%.

https://www.proactiveinvestors.com/companies/news/222414/galileos-glenover-rare-earths-project-already-boasts-a-pea-and-a-large-stockpile-of-ore-thats-already-been-mined-222414.html

I presume the phosphates are additional to the rare earths value.

Sorry earthling I wasn’t ignoring you this morning - my 9.03am post, though relevant for and headed cookie, was meant for you.
Regards
P

We all have different opinions and motives TC.

My opinion is that GLR presents a great investment opportunity. As always there are risks but IMHO the potential near term gains far outweigh those risks.

Cookie.
Colin Bird has said enough cash for several years after October placing; however more important no intention of a further placing and has buyers ready for the Glenover phosphate asset. He hasn’t sold yet because he wants additional value for the contained rare earths as well.
As soon as Star Zinc is up and running- this year - revenue $10m per annum - cost of quarrying crushing transport etc circa $2m per annum.
Worthwhile viewing several recent interviews with him

Morning cookie. Welcome aboard.
Fellow poster Candid summarised near term catalysts recently:
The following near term catalysts will drive the share price higher (first 4 are imminent):
1) Mining Licence granted for Star Zinc (Zambia)
2) Offtake agreement with Jubilee Metals for Star Zinc ore
3) Exploration drilling plans for Kash*tu (Zambia)
4) Mining Rights granted for Glenover Phosphate and REE (South Africa)
5) JV or Offtake or outright sale of Glenover to MPP - Major Phosphate Producer (South Africa)
6) Sale of non-core assets (100% of Ferber Gold project Nevada, 15% of Concordia Copper SA)

Take note that Colin Bird is director of Galileo and Jubilee who own the nearby refinery. They are contractually obliged to take our ore at industry norm rates.
Revenue will be circa +$60m over 6 years (compare that with our market cap).
The star zinc ore is at surface with low cost quarrying only required.
The Zambia government who issue mining licences have a 5% stake in Star Zinc.
And last Friday the latest copper gold tenement was acquired.
A recent article in Hot Rockets tipped GLR as a 10 bagger and started the clamour for shares.
Glenover phosphate and rare earths will be sold and expectation is many multiples of current market cap.
I’m sure fellow posters will add to the great opportunity emerging.

Liberum analyst Ben Davis – whose target price for SolGold is based on what BHP would be willing to pay

Liberun target price 65p ?

Yes cookie - worth closely looking at - talk of 5-10 bagger on the imminent zinc offtake, even without the recent copper acquisition. Re-rate in progress. Chairman in both camps!

lol, LoL, LOL, LLOOLL,

“Newcrest said it was comfortable with its existing investment in SolGold, but said the copper grades discovered to date were not good enough to warrant "tier one" status.”

And Oiltap, I surmise they aren’t for trading for a quick, small buck.

“That ol’ man river.
He must know something”

And most of us know also!
GLA

12500000 buy - there’s confidence for you - and why not?
Big orders being filled hence today’s share price behaviour?

12th May 2020.

Maybe history will show this as the date on which the bidding war was triggered for the purchase of Solgold.

The gauntlet has been thrown down. Let’s now wait for the combined consortium bid by BHP/Newcrest for the whole lot.

Yes addict - very obvious and rather impotent by Newcrest

I n exchange for the $US100 million, Franco-Nevada wants a 1 per cent royalty on revenue generated by SolGold from its flagship Cascabel tenement, which contains the Alpala discovery.
Expensive streaming deals
Newcrest said such ''streaming'' deals were ultimately expensive.
''We are concerned about the potential for a $1 billion streaming deal as these types of deals tend to transfer the economics and potential upside to the streamers of what could be a prospective project,'' said the spokesman.
Franco-Nevada said it wanted to conduct "confirmatory due diligence" on SolGold's Ecuadorian acreage before formalising the $US100 million deal.
Pandemic lockdowns in Ecuador have made such a site visit impossible in recent weeks, but Franco-Nevada said it planned to conduct a visit once "travel restrictions" relating to the pandemic were relaxed.
Newcrest said it was comfortable with its existing investment in SolGold, but said the copper grades discovered to date were not good enough to warrant "tier one" status.
"We still think it is too early to assess if the Alpala project is 'tier one'. We have developed block caves before and know they take a long time to develop, particularly in greenfield projects,'' said the spokesman.
"We need to see a high-grade core to cover the upfront capital and we have not seen that yet in the drilling."
Mr Mather did not respond when asked via email why he preferred high-cost debt and royalties to an equity raising.