Member Info for Pbow

Alternatively filter Jack who is a certifiable nut job.

It has ranges in Chile Fort - goes up to 60% (well 100% with the nationalized company, but can be less than Ecuador)

Fort I think Franco will want them to use what the regs say.

For the drilling I think it will be 5 million USD as stated in the PFS. It is frustrating it wasnt done given the PFS said it was required. I'm convinced at times the management didnt bother reading the PFS. Its the same with the electricity MOU - it just doesn't match with the PFS, and is completely illogical. To be fair current management seem to have noticed this.

Buffet all of that is known and accounted for in the PFS.

Again reading the PFS I dont see us using anything but conservative rates as that seems to be whats required.

"In consideration of the specific attributes of the Cascabel project including size, geology, and a planned life of mine, and in following guidance outlined by the Canadian Institute of Mining, Metallurgy and Petroleum, appropriate long-term (2029+) prices of $3.60/lb for copper, $1,700/oz for gold and $19.90/oz for silver are supported as reasonable commodity prices for Cascabel project reserve modelling.

For the purposes of the financial analysis, the latest market and street consensus forecasts were used, resulting in long-term metal prices as follows: $3.85/lb for copper, $1,750/oz for gold and $22.50/oz for silver."

The Franco contract says the following on the DFS.

"the Seller shall have delivered to the Purchasers a copy of a feasibility study (prepared in accordance with NI 43-101, the JORC Code, or any other comparable foreign mineral disclosure code) that (i) demonstrates mineral reserves of contained gold of no less than [Redacted – Commercially Sensitive Information – Percentage] of the mineral reserves of contained gold in the Initial Operating Plan, (ii) has been approved by the board of directors of the Parent, and (iii) is otherwise in form and substance satisfactory to the Purchasers’ Agent, acting reasonably;"

NI 43-101 apparently requires them to use Must use definitions for resources and reserves established by the Canadian Institute of Mining, Metallurgy and Petroleum. However maybe we will use something other than NI 43-101 as we are no longer listed in Canada so no longer a requirement?

The main differences between Red Cloud and the PFS are as follows.

They use the following metal rates;

CU of 4 USD an lb - 4% increase

AU 2,500 USD an oz - 43% increase

AG 28 USD an oz - 24% increase.

Operating Cost up 31%

They had some minor changes on grade (increases) and minor increases on production which reading the PFS frankly aren't logical with the new TSF plans.

Its also broadly in line (if not exactly the same) with their report from the 15th of May where they modelled a post-tax NPV8% of US$3.8B (up from 3.2 billion in the PFS).

The PFS had a $5.4bn pre-tax Net Present Value its hardly any different? Or am I missing something?

Monte its included in the spin off. Doubt they will drill anything there until the spin off happens, think all the focus is on drilling up TAM.

Cheers for sharing that Orthern I remember looking into it a while back but im getting old and my memory isnt what it was 🤣

Fort wasnt the reason we fell out of MSCI mostly associated with our volume being dire?

Fort are you not thinking of this. https://www.investegate.co.uk/announcement/rns/solgold--solg/investment-proposal-from-bhp-billiton/4745239

Im 100% sure we wont build Cascabel on our own. It defies logic and what the company has previously said. They need to work towards getting the license and not mess around like previous management though. Whether we will end up in a JV or taken over remains to be seen.

https://www.youtube.com/watch?v=bLeCuwDyEU4&t=1587s 23 mins in

Im not convinced the DFS will use markedly different rates for the metals being honest. Prob a slight increase but reading the PFS seems unlikely it will be anything big.

Ill follow what the company brokers say rather than a nutjob called Jack thanks though. Redcloud is sitting at 41 pence. Hannam and Partners a bit higher at 57 pence.

Id be angry at a takeover of 20 to 25p. 25p to 30p id be annoyed. 30 to 40p id be ok. 40p to 50p id be happy. Over 50p id be doing cartwheels.

Ive never understood the relevance that BHP have paid 40 pence (they didnt by the way it was 45 pence and then 20.26 pence...) they also turned down the option to buy a load which they didnt bother doing...

It doesnt though Jack...

The TSF is 267m, the processing plant is 262m, the Surface infrastructure is 293m (this will be more now), TAM will be x million. the Early Mine Access project is 410m Thats more than 650 million.....

I would be surprised if we didnt need any additional funding Jack. If you look at the 17th of July plan its pretty clear they are bringing forward a lot of spend. They also only start processing the ore from TAM in 2028 Which is when Alpala is producing from the Sub-level cave. The amount of funding required might be reduced but will still be something I would guess. That aside given we know they have have received material offers of funding in exchange for offtake from a number of traders - so likely these will fund any additional. Though it does beg the question as to why they didnt engage one of them rather than sell the shares to the Chinese.

Https://www.bnamericas.com/es/noticias/nuevo-reporte---permisos-el-gran-cuello-de-botella-en-la-mineria

Im just saying I wish the company would be more like Disney. If you go to a Disney park and the sign says that the queue will be an hour it will be 45 mins. Under promise over deliver. In this instance Dan said the drilling would take 3 months to complete. Here we are almost at the 3 month mark and we havent even done half of it. Clearly this will impact on both the DFS and the license which I now think its unrealistic to expect this year anymore.

Notwithstanding the above it is a good RNS and I do think the company will start to rerate.