Member Info for Quady

Good afternoon all, I do remember, someone doing a calculation, when we got the big drills, as opposed to the first two drill rigs we started with. I believe the larger rigs, could do 50 metres a day, depending on conditions. Just a word of caution, our 12 rigs, are not all the same, so we cannot do 50 metres times 12.

Good afternoon BNC, like Glenfiddich as well, but prefer Glenmorangie, sorry to hear you cannot drink anymore, hope your in good health.

On the Whisky debate, I have two favorites, Bowmore and Glenmorangie. Yes I know the latter is frowned upon, by serious Whisky drinkers. However I find it gentle and smooth, and easy to sup. I would like to offer up a Whiskey for debate as well, this is Tullamore Dew, it's a blend and you can get a litre for under 20 pounds, but again a distinct taste, and so easy to sup, and a firm favorite when I visit Dublin, and a stout is just not enough.

I agree completely with your post BNC, if the price is right, he will sell. He has always said that, but the price has to be right. We all have our calculations, but you get 2 pound a share for Alpala alone. I don't believe any company will offer that, So he will do what he says. He will extract maximum value.

May I add something about the shocking management debate. Management is one of the variables we take into account when investing. The question is simple. Will NM deliver what he has said he will deliver. Do you agree with him, or do you think you will lose money here. Their is risk in everything. I today think there is less risk than 7 years ago. I also believe he will get the funding to take this to production. ( I could be wrong, that's the risk I take ) My point is if you believe in the story, stick around, if not, then lots of other shares that represent good value at the moment.

Understand RICH3R, I started looking at this site in 2012, and invested in 2013 myself, think that was about the time of hole 5, and Andrew Martin was in charge then. At that point everyone thought Alpala would be proved up and sold, myself included. But slowly things began to change, and I suspect when Mick Mather took over, he had a look at the metrics, and as he has a reputation of extracting maximum shareholder value, yes for himself as well. He has done just that. We would get a fraction of the value of Solgold, even with a hostile bid. To extract max value, taking it to production is the only way. I am not so sure that all the people on this chatroom, realise what we have here. We are in at the beginning of something big. It's going to take time, but the wait is worth it, in my opinion. While I realise that doesn't account for much. I invest in the story, as I have learnt during my lifetime two things that are just so true, in investing. We all know them, but when we get emotionally attached to a share, we have to remember them. The first being their is no sure fire bet. Things can go wrong. The second being patience, never be in a rush, it clouds your judgement. Good luck RICH3R, and indeed everybody else.

Good morning RICH3R, I do get your frustration, as it looks like you brought in for a quick profit, but if you listened to NM, he has never said anything else, apart from this is going to production. Dare say you will have exit points on the journey, but unless we get a bid, then NM will take this to production.

Just a thought, I haven't been reading all the messages recently, as we don't get news till Monday, and had some work to do on my car. I wonder what it is that couldn't be announced, within the last few RNS's. The fact that we need to wait till Monday, and also they are confident, that it can be announced on Monday, makes me think this is new news. Maybe on Cornerstone. All the best everyone.

Good evening all, as for current tips, depends what you want, for income, DLG and possibly BT, since looking at pension fund liabilities, that looks sorted. It could be running a surplus in a few years. For growth. Then an interesting company called Versarian VRS.

Buys ten times number of sells.

Good morning ToS1963, not confrontational at all, I get every point you have made, I am guessing the difference of opinion depends on the price we paid for our shares.

My sensible answer to your question Iceberg, is you are correct, we have not given them lots of cheap shares, and not delayed the project. In fact over the coming weeks, we may find out, we have just accelerated not just Alpala, but the 3 licenced projects, we have the go ahead for. All the best everyone, no one can say this share is boring.

Scrub, my last post, information moving too fast. Interested to see Mondays announcement.

Good morning everyone. I think further announcements, may shine a light on this. To me this looks like a distressed sale of equity. Could this be because time scales with The government of Ecuador, demand we step up the drilling on the other 3 sites. If so, I have roughly calculated, that the money, will take us to year end. By then, we will have the PFS, but not the BFS. Interesting times. For the first time, I am beginning to think, we may be under threat of a bid. Interesting to see how Citi, will respond to this.

I knew we had to raise some capital, didn't think it would be for a couple of months. I am curious as to why the price is so low. I am also not happy with the amount of shares being issued, as it states that it's the minimum to be issued, which means more likely. Just how much, non of us know. I think we will get more details in the coming weeks.

Good morning Zoros, you tell Iceberg to stop waffling and research, and then you submit a fantasy, that includes zero research and complete waffle. No one has upset anyone, in business you have differences of opinions, that's why contracts are legally binding and enforceable. He never decided to go it alone and upset BHP, that has always been his intended path. He is not stuck at home, have you listened to none of the recent presentations. We are going full pelt to deliver the PFS, by end of September. Government have a difficult situation with Covid19, but so has the rest of the world. Please take your own advice, don't waffle, and at least spend a little time researching.

Good morning, RichyRich1, it was announced in one of the recent presentations. It was the same one that said licences granted for 3 sites some time ago. Two have base camp infrastructure completed, one in process of construction. When worked stopped due to Covid19.

Good morning Colonel, cash for 3 for non Alpala targets, included in the 150 million.

Good afternoon Colonel, you are quite right. The only bit I would alter, is I think both parties will offer a mining referendum, and it will be done quite quickly, with both parties supporting it. This I think was mentioned on one of the Red Cloud presentations. I don't see this being like Brexit. Ecuador, wants companies to invest on a huge scale, not just mining, and a no vote, would effectively say Ecuador is closed for business. Where a yes vote, would open up a high GDP in mining, and say come to Ecuador for many other businesses. It also lifts the tax burden off the public, and business would pay a higher proportion of Ecuador's revenues. I see this as all positive. However as you point out, their are risks.

Good morning, I have some observations about the presentation before the current redcloud one, where a government representative said even if a socialist government was formed it would be ok. Because any government would require the income. So over the last two weeks, I have been reading about Ecuador politics as current. I don't think we have anything to worry about. The two top parties are, PAIS, who is a democratic socialist party, this is the incumbent, and headed by Lenin Moreno. He only stood, because the last leader had served two terms and that is the limit to how many times you can be in power. The second party is the creating opportunities party, which is a more right wing capitalist party. This is a new party, about ten years old. They are about even in the polls. The way an election works, if any one party gets over 40%, and no other party meets this threshold, then they form a government. If no overall majority, then the top two parties have a run off, and the one who wins forms a government. In Feb 2017, Moreno won by just over 51% in the run off. He missed becoming the government, by 1%, as they scored 39% in the first round. So I see the 2021 election being between these two parties. Just to recap. The socialists are in power now, and as we know they are pro mining. I cannot find a statement on mining from the creating opportunities party, but as they have a capitalist outlook, I don't think they would represent a problem. Just one last thought. If Moreno wins next year, he cannot stand in 2025, as he would stood for two terms. Hope this is helpful