RE: Solaris Market cap28 Oct 2025 19:41
But they're a simpler operation for extraction. There are far fewer outfits willing to take on a deep, expensive and complicated asset like Cascabel. The majors know this, so they've let Solgold fly their production kite safe in the knowledge it can never happen and the going concern will need constant dilution to keep the lights on.
The enemy within, Cazzubo, even shrunk the mine to make it yet less viable for the capEx such that (maybe) only BHP would be willing to take it on for a song. Nobody is fooled by the take it to production mantra, with one notable exception on this forum.
G-mining working for Ziangxi changes the story somewhat. We can carry on with flannel like Tandy funds Alpala but the real story is who will take on this complex engineering project and reap the rewards. To that end, we can only hope that mass panic and the rush to gold caused BHP and others to challenge for ownership.
That will be the outcome, and a "Western" major (I include Reinhardt in that) will eventually prosper, somewhere around a quid a share.