Member Info for Quady

Can't see any news.

I would like to ask, how is Citi going to defend against a takeover, but won't get an answer, so no point. Could also ask, how many Cornerstone shareholders have so far accepted the offer, again no point. When are we expecting the whole 2.7 billon to be signed, no point. Will listen as I am sure he knows what the questions are, as he is probably asking himself the same questions.

Good afternoon ToS1963, I don't think that changes anything, as Alpala with water rights are in the ENSA wrapper. One further point, I believe the water rights need to be negotiated every ten years, but could be wrong, as that's from memory.

Good afternoon burnbankbrian, I don't think selling off the other tenements are a problem. I think it's just Alpala, because it was set up under an ENSA agreement with water rights, and we don't own all of it. So I believe the problem is the ENSA wrapper. I say this as I have listened to the latest webinars, but they lack detail. But from what I understand the difficulty is selling Alpala only. All the best.

Found this, but doesn't explain in full, I believe Alpala is difficult to sell, because of sales tax associated with ENSA water rights.

TAXES AND ROYALTIES
The holder of the licence is subject to other taxes, payments and contributions such as:

Income Tax – 25% of profits
Labour Profit-Sharing Tax – 15% (12% to the State and 3% to employees in the case of large-scale mining, and 10% to the State and 5% to employees in the case of medium- and small-scale mining)
Value Added Tax – 12%
Municipal taxes and contributions, social security contributions
Annual conservation fee that the holder of the licence shall pay for each mining hectare by March each year – This equates to 2.5% of the government mandate “basic salary”, currently US$394, per hectare of the mining licence for the initial exploration period for fiscal year 2019. This doubles to 5% of the basic salary per hectare for the advanced exploration and economic evaluation periods, and doubles again to 10% during the operational phase of the mining licence.
In addition to the taxes outlined above, the holder of the licence must pay to the State a royalty of no less than 5% of the value of all sales and no more than 8% for the sale of gold, silver and copper (large-scale mining). For medium and small-scale mining, the royalty is 4% and 3% respectively, while artisanal mining is not subject to royalties.

The Ecuadorian government has various taxes, duties and levies that may or may not be applicable to future mining operations depending on the mining exploitation contract established between SolGold and the Ecuadorian government and the laws in force at that time.

Good afternoon Colonel, as always you make a good point, however although I cannot name any tier 1 discoveries that the majors never got their hands on. I would ask this question. How many tier 1 discoveries that could raise the monies to go to production with a 3.6 year payback period, have the majors got there hands on. We are not down and out or a distressed sale. I don't think that Newcrest, BHP and other companies are going to work together. I believe they want as big a part of Solgold, for the cheapest price. We may get a bid after October, but it will have to be hostile, and at that point, I do hope more than one party wants to bid. But I still don't see it. I just think it's extremely complicated, and we are going to demonstrate more value, and increase the price. All the best.

Your welcome Copperpot, I just lower my expectation on deadlines. That way I am never disappointed.

I have become very patient, imminent means before 2025. I hope.

Agreed addicknt, however really low activity, after yesterdays announcement, as so far less sold, than what most of us are holding on an individual basis.

Looks like Jason Ward had acquired 116,279 shares today, unsure if awarded or he paid money.

My god Zoros, you have gone up in my estimation, you have watched a webinar.
For the second part, would never sell my granny or anyone else's granny. Yes I would prefer to get to production, as the rewards are immense. I don't do short term, but if we are brought out, so be it.

Good afternoon, I do hope not DBW, I think there are too many interested parties that are required to take such a low ball offer, the big holders know what they have, and will not sell out cheap. I really cannot put a price on Solgold, only know, if we are taken out, it will be less then full value, by some margin.

We are at these levels, because their is not enough activity in this share. needs more buys and sells.

Just to add to what Iceberg has said, one of the main reasons this would take longer if sold, is all the wrangling Solgold did on the environmental front, so many undertakings were given by the company, and if you remember the problems we had acquiring the water permits, it wasn't good enough to give an undertaking, Solgold had to change the way they worked as a company. BHP would also be required to change how they run as an operation, no mean feat.

Good afternoon Iceberg, is it possible that these 3 companies are part of Citi's defence. One of the ways, I felt Citi might do this was to add Solgold to high risk funds, so that they could be component parts of pensions, unit trusts, ETC.

You are correct addicknt, I was talking about compulsory purchase of share. Didn't know you could de-list at over 50%. Thank you.

Good afternoon Iceberg, isn't the rule to delist Solgold, that they require 90% take up. Otherwise they cannot delist and Solgold remains a company in its own right.

Miagi, as I said earlier it's the difference not the total. Also this isn't just about achieving a majority holding. Different things occur at 75% and 90%. So it's extremely important. Let's agree to disagree, we will see in a few weeks time.

Miagi your missing the point Newcrest, BHP and CGP together don't even have 40%, so if we acquire CGP, they don't even have 30%. It is very important.

Miagi it was tongue in check, I would expect everyone on this site, to be conversant with percentages. The difference is not irrelevant, it's key, because it dictates, who has overall control. All the best.