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Damers
Also visit ggpchat.co.uk.
You can visit as a guest, or join.
Some very knowledgeable posters as well as a wealth of information.
Damers
Not sure if it is in the long term but I now hold GGP as well as SOLG.
Greatlands Havieron find is in a joint venture with Newcrest in Western Australia.
The decision to mine has not been made yet but with Newcrest possibly buying another 5% of Havieron ( not decided yet) would take them up to 75%. A decline is currently being constructed at Havieron to extract first ore which would then be transported to Telfer, the chances are that it will be mined.
Newcrest Telfer mine, about 45 kilometers away, processing the ore would be beneficial to both, as Telfer after having been mined for decades, grades are low and now more expensive to extract and would eventually have to be decommissioned, but the infrastructure and workforce is in place to continue with new finds.
GGP share price at around 11p looks low to me compared to previous levels and word on chat boards is that it is being shorted to keep the share price down.
Havieron resource is open in most directions and should increase in size considerably from what it currently is, with the possibility of finding something else in the area as drilling continues.
Timescale would be around 18 months for the decline to be completed and mining to start which is early months of 2024.
I think it is a good addition for me but it is not advice to others.
Share certificates are good but shares in an ISA are tax free and could save a lot of money when the share price goes up.
Yes I would be happy to hold for years to come as well, but that will not happen if an offer is accepted for Havieron or GGP for that matter, in which the buyers required percentage of sellers threshold is reached.
I think NCM will continue to try and suppress the GGP share price as well as possibly build a stake for themselves until such times as they can make an offer for the remaining 25%.
Private shareholders will have to hold on to their shares and stick together, as recent and new money purchases with the likes of fund managers may be let go for a lesser profit than full value.
Does anyone have any idea of the percentage shares in private individuals hands as this will be the key to not get taken out cheaply.
I do not think NCM will want a partner when it comes to production.
Would they have thought seeds were being sowed for a miniature Gamestop.
In the Mining Journal interview of Jan 22 Darryl Cuzzubbo was asked
Solgold hold 4 separate subsidiaries. Recently the company has been looking for partners because you have more than you can handle. Does it make sense to spin out Cascabel into a separate entity, so you can really focus on that along the lines of what Solaris Resources plans to do with Warintza?
DC replied
It is an option, and we are working through what our strategy is on that. We always have to take a long-term value strategy here.
Cascabel is the largest and most advanced and Porvenir is the next cab off the rank. There is value in having multiple economic deposits, having a pipeline, whether you do it or whether someone acquires you (bigger portfolio of deposits, more attractive)
For short term value hiving them off might make sense.
Taking the long term view, Ecuador is going to be the next copper frontier at exactly the right time that the globe needs copper as we transition to net zero emissions.
Having multiple economic deposits, and a pipeline of projects at different phases would be very value to a major, so we cannot lose sight of that.
So it might be then that he does not want to sell Cascabel on its own as BHP/Newcrest probably want the whole lot.
The other projects would not have a huge value at this time but may do in the future.
My buy was at 11.35am.
Will have some more if it goes under 13p.
I have bought GGP seven times in past fortnight including 20k at 11.35 this morning.
All bar one showed as sells which gives misleading information.
If it is option 1 with BHP trying to get Solgold on the cheap they might not have it all their own way .
New copper and gold reserves would be attractive to the likes of Rio Tinto or other large miners.
Jason Ward said years ago that he thought Rio Amarillo was the best prospect out of all the concessions for a large porphyry mine.
For various reasons (permitting probably) they do not seem to have made a start on it, but if he is right it will be a game changer for Solgold.
Irrespective of the final placing price it is a drop in the ocean as far as BHP is concerned as they are already in the game.
BHP and NCM are the threats here to a low offer for the company and they must have their share in any underwritten rights issue, but there is nothing to stop a company like Valuestone accumulating shares in the open market, little and often to build a larger holding, if they are of a mind to do so.
Any future raise will be based on investors current holdings (rights issue etc) and that will suit BHP/NCM going forward.
Valuestone took a C$5 million stake in November last year and there is nothing stopping them buying in the open market, little and often, to build a better position.
SOLG does not look overpriced currently 22-23p and could a good investment if nothing else for the likes of them as they have already shown an interest.
The raise from Valuestone (Chinese) of US$5 milliion at US$0.42 cents announced 12th November was to be used specifically for advancing Porvenir, so I presume management will use the money for that purpose.
Copper gold and silver is still in the ground.
SOLG been badly managed but I do not think BHP and NCM will be selling any time soon.
The share price has fallen but for me now it is all about trying to find finding the bottom, which may ( or not) be the inevitable rights issue.
Lets hope the bottom is before the rights but we have to plan ahead accordingly.
sssmith trader
BHP last raise was something like 22.15p, not much more than we are now.
Yes things are beginning to look better here, lets hope it continues.
I still have old Viridas share certificates.
Name changes
Riverfort Global Opportunities since 8th November 2018
Paternoster Resources 27/06/12 till 7th November 2018
Viridas from 01/08/2007 till 26th June 2012
Caldwell Investments from 31/12/1978 till 31st July 2007
Dumpton (Thanet) Greyhounds 24/10/1932 till 30/12/1978.
It looks as though the listing goes back to 1932 when it was a greyhound racing track.
Dumpton Park Stadium (now Ramsgate Stadium) opened in May 1928 and had a few champions.
Had a bit of time on my hands this morning so was digging around for what it was prior to Viridas.
Solgold may be trying to hang on playing for time to see if they possibly have another tier 1 resource on their hands before deciding on Alpala.
If recent drilling at Porvenir or Rio Amarillo indicated that they might have another large resource and open pit would be an option, it would be much less complex and quicker for Solgold to develop.
It would also then be easier to make a decision on Alpala, and if they decide to let it go, would then have the revenue to develop one of the them and other locations still to explore.
Good upcoming drilling results will also increase the value of the company if completely taken out by the likes of BHP and give shareholders a better price.
MTR has been a bit stuck for past 6 months, but looking at it another way, its share price has also doubled since late March early April 20.