Member Info for Quady

Thank you DBW, quite correct, the very first thing I did, before investing in Ecuador, was investigate the political landscape. It was very different 8 years ago, however I recently did an updated political landscape, as I see it today, I put it up here on a day, that was buzzing with news, so might not have been seen. I will try to find it and repost. If any use to people, that's great. If not then fine as well. Normal caveat's apply. This is largely my view, but based on factual information that I have read and checked.

Good afternoon Scoutt, just a thought. The Socialist government are in power now, they are the ones making the mining reforms. The main opposition is to the right of them. Only a two party race in Ecuador.

HaHaHa, no where near, not even FIDE master. To get a IM or GM title, you have to enter tournaments and get 3 IM norms to become a IM, plus pay some money to FIDE, also 3 GM norms in tournaments of a certain strength .

Good afternoon Woody, I used to play on the international circuit many years ago, I don't have a title, but at my best, my BCF, now ECF was 186 and my fide was just a few points over 2200. Haven't played since 2012, but still read the occasional book. I dare say you have read it, but if I got back into it, I would reread My System by Aron Nimzowitsch. All the best.

Good morning Copperpot, no idea.

Really interesting night, haven't slept for 36 hours, been up with an online quiz, I came 3rd, an online chess tournament 1st, as I am an ex international chess player, and an online debate, which their are no winners, only ideas. interesting only in the fact, that I am Hayekion in my outlook on the world, with a mix on the social side of Berty Russell and Voltaire on the philosophical side, two of my long suffering friends ( over 50 years ) will be buying into Solgold tomorrow, Old people like myself. A lot of fun was had, and still not tired.

HAHAHAHA, thank you Jerry, I suppose we can use geological terms, as we are a mining company, and use geological terms. All the best.

On Solgold, as most people know, I don't have level 2, I am encouraged how well this is holding up, I don't know the support levels, but looking at this on a day to day basis, I would suggest currently, we are pretty rock solid. ( famous last words ). So much news to come on permits, but can someone remind me if NM said news on Cornerstone bid was close, all the best everyone.

Good morning iceberg, I am going to disagree with you on Northern Rock on Tier one capital. The loan book wasn't huge, but the quality of loans was such, that they practically used the maximum LTV's allowed (Basel 2 allowed this ), so they drew more money than any other financial institution from the bank of England, for the size of their loan book. When it all went bad with the selling of SIV's from the American continent, Financial institutions brought what they fought was AAA rated loans. Cannot understand why the organisations that rated these packets of debt, have not been prosecuted. I guess their is a part of the story that I don't have the facts for. My point is Basel two, allowed reckless lending, and when a downturn came, the system collapsed, as they never had enough money to meet the bad debts, but just as important to allow new lending. The original Basel accord made banks behave more cautiously. I think that the graduated Tier1 reserves have been necessary to allow Governments, not to pick up a larger bill. But firmly believe that any bank that does not meet the capital requirements, should not get any more government money, and not be allowed to lend any more on the open market, until the repayments from existing loans, rebalance their books. All the best.

Good morning Iceberg, thank you for an interesting post, yes I also agree with all you have put. My point on the 2.5% buffer, was it should never have been as low, and banks did hit it, one in particular was Northern Rock, who were lending 125% mortgages, in order to use all their capital reserves believing that dormant money that was not lent out, wasn't increasing the banks profits. I would not have introduced Basel 3, but reverted to the original Basel accord, as this worked. It would have required greater oversight I believe. Unfortunately, we still would have required quantative easing to meet the capital requirements, to allow loans to continue. But , I would only have allowed the level of QE, to meet the required criteria in all loan categories up to 100%. Any financial institution that lent more, would have to pay zero dividends until they were fully capitalised again.

Good morning interestking, when you talk about the 2008 disaster, I take it you are talking about the banking crash. This was entirely perdictable in 2005. The reason being was the adaptation of Basel two. In particular capital tier lending ratio one, that was reduced on its 100% book, from 7% to 2.5%, so banks could lend the same amount, with only 1/3 of the capital reserves. It was a self made problem, by greedy European governments, which was made worse, by the credit reference agencies, giving packaged mortgage debt, triple A ratings, and passing it from financial institution to financial institution, in the form of SIV's ( structured investment vehicles ). Everyone saw this coming, governments were warned, but took no notice, as they wanted, and some would argue needed, the extra tax take on the increased lending. This enabled mortgages above 100%. Governments, should have cut their costs, as you couldn't tax most of Europe any more. France, still has to go through this correction. So have to disagree, the tools are there. The problem is the willingness of governments, particularly in the EU area. By the way, another banking crash is on the way in Europe, within 5 years, if proper enforcement of Basel 3, is not strictly adhered too. As lending, against capital reserves, is starting to rise again. Governments, will not take the decisions required, and Covid19 has made the situation worse.

Hi Shipright, Cambridge Analytica don't do this. As for the algorithms employed, these are also executed, by the regulatory authorities, to find insider dealing, and unusual buying and selling patterns. The big players have too much to lose. This is not the 1980's. So guess we will have to agree to disagree.

Agreed DBW, this BB, is becoming stale, just because we have all speculated on the possible outcomes, we do need some more news, to keep the small amount of momentum going. Drill permits, would be good, but can see Corona virus, holding them up.

With too many shares.

Good morning interestking, I believe you are correct when you say, very little volume, that is the problem with do many shares. The market in Solgold is too small, really nothing to do with BHP.

BHP, are not holding back the price , no one is. If you think this, how are they doing this please.

Morning DBW, if he was in AML, he has made a massive loss, just look at the fall, a 40% rise is nothing, a 100% rise would be still nothing, unless you brought in at the bottom.

Good evening Copperpot, Early could me 1st half. I am curious as to why they released this. Everything in it is known, so the wider market is aware. Am I missing something.

Couldn't agree more KB007.

Thank you Tregantle.