Member Info for Quady

Zoros I am really trying to understand your position, but I cannot even understand your post. You say you brought years ago, so assume you are in profit. You want a sale and so a quick profit, you already have that. You believe it will reach 3 pounds, but then say your willing to wait to after its built, but your upset that you have to wait. You then say nothing will happen till the DFS. May I ask, is this your first share you have invested in. If so one bit of advice, Don't invest money that you are going to need, things like this take time. If it's not your first share, then I am even more confused by your statement. All the best.

Hi Jerry, I think he would say, you know what it's worth, go away and think about it, I am not going to give you any indication how low you can bid.

Rich4r and AKGold, if they are not 1 pound by end of second quarter after BFS, then I think the person most upset will be Nick Mather, as he reckons 6 times the price now, is a fair price, with just what we have at Alpala. That makes us £1.80 a share roughly. It's going to be interesting chaps, as none of us have no idea where this is going. The only agreement is direction of travel is up. Can't think of an argument as to why this would tank in the long term.

Also the 4 pounds figure, double the 2 pounds is 100 million at one percent times 85 gives us 8.5 billion with 2 billion shares. If you want too take off the cost of the mine, it gives roughly 3 pound a share. Not saying these prices will come about. But its a reference point for calculating reasonable value.

Hi DBW, I am not sure it would be equity, we offered equity in the early days, because we had nothing else. What's wrong with staged loans for drilling from Banks, as we can show that we will have the ability to pay it back, yes they may charge us a higher rate of interest to account for the risk, but as NM has said many times, money is cheap at the moment and the foreseeable future.

Based on 85%, I got this wrong once before.

Thank you Pinotnoir, as you say, it was worth a look. He did say DFS DBW, but my understanding is DFS and BFS are terms which are interchangeable. I always use BFS, because I am old. ( as previous discussion ). You are considered old if your post consists of people trying to get you, to give your pension to them. You get brochures for old people homes, Lots of mail from Saga, everything from holidays to insurance, and that ever cheery leaflet offering you a funeral plan. I get the lot, and I am on the preference agency, saying no junk mail. So I guess they must think I need it. On the video, very upbeat, he wants maximum shareholder value, but strong message that this is a legacy to the people of Ecuador, and trying to acquire all, or a share of 20 other licences in the area. If he pulls that off. Well what do you say, in 20 years we may be putting in a bid to buy BHP.

Thank you Pinotnoir, hot day, and only one beer in the fridge, will watch as seems a good excuse for my beer.

Well Alpala worth 2 pounds a share based on NPV, if you base Alpala on the terms we borrowed then double that. That's just for Alpala. However bids are likely to be around the 40-60 pence mark if we get any. But hopefully Citi, will start to defend before 15th October.

However saying that a higher share price, assists a good defence.

Good morning DBW, I find I do take NM at his word. He has hired Citi to protect against lowball offers, as the share price does not represent the company's value. I believe its as simple as that. No doubt he knows who's interested, and should they launch a silly offer, a defence is required.

Thank you Pinotnoir, Yep found it and protected link, so cannot be copied as you say, as changed at the metadata level.

Good morning addicknt, you could be right, I also agree they won't go hostile, however quite a few on this forum think it's a possibility. I just don't think NM needs the money, so cannot this this even being discussed, unless something changes.

I have found the BHP hostile takeover of Potash, it was announced on the 18th August 2010. This was a disaster for BHP, as they launched a 40 billion bid, which was subsequently rejected by the Canadian Government.

Good morning Pinornoir, having trouble traversing the IG website, could you type in by hand, how to find the video, as cannot find it under news. Many thanks.

Hahaha, thank you Copper pot.

One point, I have been searching the web, with BHP acquisitions and also looking at histories of mining acquisitions. I wonder if anyone can answer my question. Is it true that BHP have never made a hostile bid for anyone in their time.

Interesting statement addicknt, like you I don't see why both are required for Solgold. However this is how I see it. The PEA is a very rough indicator of what we have, and nobody apparently would pump in millions on a PEA, but that is exactly what has happened. A PFS gives us a move from inferred to indicated, and gives us a more accurate valuation apparently, and can be used for revenue raising. Also I believed wanted by the government of the country, to indicate that the licencing terms are being met. The BFS is Bankable one, and apparently alters the lending criteria, and if anything goes wrong, if you have lent on the terms of a BFS, you are higher up the chain for a claim on funds.

Hamoperator, show me a country in the world, where permits for mining are achieved overnight. This is completely normal, and requires patience.

Good morning Gino73, a point of view is not being a wet blanket, in response to the question of burning money, the answer is I don't know. If I were to take a guess on what has been said at the last three presentations, it would be everything is in hand. However, I would imagine as you say the 100-150 million is to last us to BFS completion, 2nd quarter next year. Does that mean we burn cash at 100-150 billion in one year. Maybe, but guessing that if any left, that we continue drilling. If not then maybe we take some off in the 2.7 billion we are going to raise, if not that option, we can always raise money through the banks, as by then, we will be moving closer to production at Alpala, and shortly have revenue to service debt, and a lot more. Interesting times.