Member Info for Quady

Colonel may I add that the reason BHP have been reducing debt, is the huge amount they are going to spend over the next 7 years on improving viability of current mining operations.
Even without a bid for Solgold, they are never going to keep their level of borrowing under 10 billion.

Agreed rcgl2, if a bid was felt to be imminent, then sentiment would increase the share price, as people who believed this, would be buying en masse .
As we still have 5 years to go before this is built, and we have studies to produce and a CFP to arrange, their is nothing odd about where the share price is.

On the Boris Johnson spend on covid, read up about how the government calculates the death rate, might surprise you, then look how someone like Germany calculates their figures. I know you will be surprised. Our figures are designed, so we don't underestimate. We have responded well as a country.

I think you are correct Scrat, why spend the money, until you need to spend the money.

Redknight, that wasn't my point about BHP and NCM, I agree they have the management experience, but the build and technical direction is subbed out.
Your correct as we don't have the management experience, hence my comment about a technical build director to oversee on behalf of Solgold.
We can use the market leaders, this is a good time to build a block cave operation, as not many going on at the moment, and plenty of civil engineering companies out there, who would want to tender not only for Alpala, but would want to be in with Solgold for future builds.
Think about the HLD and LLD, ask yourself who is doing this, after all we cannot complete the PFS without these build documents.
My guess and it's only a guess, is we will use the people creating our build documents, as that is usual practice in the engineering environment.
I look forward to the PFS ( as we all do )
But I want to see if possible, who has designed this.
Followed shortly after by the CFP, it will be full steam ahead.
All the best.

Redknight, I have said sorry many times on this site, when I have misunderstood something, or got something wrong.
However we are currently in the PFS phase, and will be out hopefully first quarter next year, with HLD and LLD.
Who do you think is doing that part. ( it's certainly not Solgold ).
The point I make, is we can do this, the company evolves as we go forward.
I reckon we will appoint someone to the BOD as a technical director, or buy a company in for this task.

Redknight, look at the civil engineering companies that built these projects, it wasn't NCM.
They don't keep these people on the payroll.

Morning Redknight, BHP and NCM, don't have the experience to build block cave projects.
They buy in Civil engineering companies.
We will do the same.
Remember the PFS includes the HLD and LLD.
It's almost built. ( The PFS and the CFP are the hard bits, building it, will be done by experts )

I wonder what people will say, when NM is reelected and all resolutions passed.
No doubt they will interpret it as a bid is imminent.
I do wonder what would convince people that Solgold will be successfully defended, should lowball bids arrive, and that we continue to production.
Maybe a CFP, but you know what, people on here will say it's a cunning plan to encourage a bid.

A question please.
As Laffite states, with have until 11 Jan to ask for the extra 50 million, and this takes FN to 1.5% of NSR.
I also understand that at the current 1%, that we can reduce this to 0.5% NSR.
Does that mean if we take the extra 50 million that we can reduce the 1.5% to 0.75% NSR.
Thank you in advance.

Tos1963, I do understand, as I think if we had had the PFS on time, we may be in a different situation and the CFP method may well be outlined by now, however, we all know, that we have to reset all timelines, so things are going to take longer.
All the best.

ToS1963, you seem to be picking your facts in isolation, We have had Covid, in which Ecuador has been hit harder than most.
With that in mind, Iceberg is correct, Solgold has performed admirably.

Hello Tos1963, Just reread what I wrote, I missed out a word or two, when I said we may have one or two, I meant one or two being built with production in mind.
My fault, I wrote too fast.

Grimbergen, I have not swallowed any strategy.
Unlike you I read the detail.
How on earth could you prioritise Porvenir over Alpala.
It is nowhere near Alpala, so cannot use shared resources.
We would have to get a PEA as good as Alpala, to obtain an offtake agreement in order to get to DFS.
We would have to get water permits, that takes time, as Alpala looked to be the easier prospect.
Would the government of Ecuador be happy to put Alpala on hold, and delay tax returns.
On the questions of drilling alternate sites, you need to remember that certain monies are reserved for certain activity, so this is a detailed plan, which NM has said many times, we can do things in parallel.

If you watch it on the 17th, you can see the voting live.

Talatum , he makes no sense at all.
It's really simple, if he believes that this is too risky he should sell.
If he believes in NM and production, or that we will be sold for a considerable profit, then he should hold.
Everyone has to understand why they are personally invested.

Redknight your question should be aimed at Ingo not me, he reckons we can finance this.
We just need to wait for the details.

Morning Redknight, let's remember that on a financial basis, these RNS's don't add anything to the NPV, we at least require PEA's on these sites, before value can be attributed.
That and the CFP, and eventually the build at Alpala.
I don't understand why you think any different.
If a bid was imminent, the share price would move on at least the rumour.
As it's not moved please draw your own conclusions.

Hi newtoit, NM can raise the money for building Alpala, with a mixture of offtake, loans and bonds. No need for dilution, for the construction of Alpala. We can do this as the payback is under 4 years at PEA. We may be under 3 years at PFS, if we use 1700 dollars an ounce, as opposed to 1300 dollars an ounce for gold.

Hi newtoit, that's exactly what we are going to do. let the professional mine builders build it. We will hire in the expertise like BHP and Newcrest, and every other major does.
They don't build the mines, they hire civil engineering firms.
We will do the same.