RE: WI23 Mar 2023 07:20
Amazing the people who are telling you this will be sold are now desperate for it to be sold at any price and tell you how bad the company has been run.
Solgold is conducting a strategic review, we are looking at the best way to take Cascabel forward.
What we have is a big discovery but there are caveats.
I called these out many times only people on here who don't know what they are talking about shouted me down.
First Cascabel is not as large as Solgold say it is.
Remember the first MRE at Alpala the cut off for calculating grade was 0.3
Then we went down to 0.2 and finally 0.16
The argument was that the rising price of gold and copper made the lower grades acceptable.
Yes it would be if the mine had been constructed and working, but for a start up we should only be looking at 0.3
In order to get full value for our discovery we need to build it.
People on here are scared of a JV, but Solgold is different, we can raise finance in our own right, so we can retain ownership.
We need a start up open cut mine targeting the highest grade gold and copper in order to finance our find.
Yes rising prices help, but not as much as people on here would have you think.
Ideal situation open cut at 0.5 equivalent.
We target the high grade.
Any company in the world can do this, so no specific knowledge required.
Where the skill comes in is doing the open cut in such a way and getting the infrastructure correct and in the right place, so we can progress to a cheaper block cave model further on down the road.
I believe we wait for the strategic review as hopefully this is the direction we are heading in.
Let's remember NM has done a great job not selling us cheap.
BHP has not acquired us as some said and will not acquire us cheap.
By all means if someone wants to bid, bring it on.
But they cannot because of the diverse book.
Because that means it would cost them more.
So many on here still don't understand Solgold.
Patience is required, and we have a few more years to go.
We always have had a few years to go.