RE: Wot no bid?28 Jun 2024 10:17
Good morning Eloro, I have always said that production was the most likely outcome, since 2015.
When under Nick Mather he announced, we were going to production.
Everything made sense then and does today.
First of all the diverse book meant that no agreement could be easily reached because there were too many parties involved, all who wanted a bigger slice.
This meant a hostile bid.
However that would have cost a fortune.
So majors are not in the game of throwing lots of money at projects that haven't started.
For accuracy I have never said we would not get a bid, I have always said that a bid is unlikely because mainly of the above, but also other things have happened along the way that have shown Solgold would continue down the production road.
It was the offtake by Franco Nevada that made this more likely, although anyone taking over Solgold could have bought out their share, but that's chucking even more money into the equation.
Where I differed to many on here, is I am aware after investing for more than forty years, that if the resource was accurately defined, that financing this would not be a problem.
Okay my take on the environmental license.
Because of the noises made by the government I believe we will have the environmental license by end of year or early next year.
Everybody is keen to start digging.
I don't know about mining, but in gas and oil, a lot of work can be started, if we are reasonably certain of obtaining the environmental license.
So we may get some news on this.
Question is will financing be announced before or after we obtain the environmental license.