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Morning ColonelDrake, their are further licences to be acquired at Alpala, but that is building etc, the infrastructure was about the whole country. When licencing was being discussed, it was for Ludlum and Solgold, and that this was holding up other sites. Their is no holdup on Alpala.

Good morning addicknt, very upbeat, it wasn't about Solg directly. It was about the future of Ecuador. They also had the CEO of Ludlum on, and as you would expect, he talked about their prospects and referred to licencing. He also commented on the enormous resource Solgold had. One interesting point is, although this was a national debate, FDN had been in production for one full quarter, and when the lockdown came, they could tell the effect on the local economy. It fell by 40%. That's when it's in its infancy . They also talked about Alpala delivering 4% of the entire country's GDP, after Alpala is built. He mentioned current GDP at 100 billion.

Morning addicknt, it wasn't Alpala that they talked about, with a view to licences. It was the other tenements.

Evening Cookie, you raise a good point, When asked about permits, I thought he said a couple of days, but unsure, I need to listen to it again.

My mistake, your quite right, worked on 100%, however, lots more on the other Tenements.

Good evening ColonelDrake, like addicknt you may well be right. I would offer one last thought. If the PFS is completed before the standstill agreement expires, then instead of being 10% as in the PEA of NPV, it becomes 30-40% of NPV, as value for Alpala is 3.8 billion pounds, 40% gives us 1.45 billion that is about 80 pence a share, that is just for Alpala.

Hello ColonelDrake, I agree PI's may take 80 pence, but the major shareholders, will never sell out for 80 pence, so on the open market they may pick up one percent and take their holding to 16 percent. Hence one of the many reasons I believe this is going to production. Don't forget we will have the PFS by the time BHP are released from their standstill agreement. They would need to offer more than 4 pounds a share, and that might not do it. Just don't see anyone putting up that kind of money. The major shareholders are in no hurry to sell, especially Newcrest. The dividends on their 15%, would help fund their other activities, this is a long term play.

Good evening zoros, suggest you listen to the webinar, I thought it was very informative. It was the mining minister that suggested whoever is in power in a years time, will hold a referendum, to stop local challenges, as it would be assumed into law. Basically the webinar talked a lot about Ecuador's need for money, particularly after 2025. What ever government is in power, it is inconceivable, that the country would not vote in favour of a mining industry. Their education and health system depends on it.

Good evening ColonelDrake, I realise we are on opposite sides of the argument, on wherever this goes to production or is sold. However why would Newcrest or any of the other major shareholders sell to BHP below market value.

Good evening BNC, yes the 2.7 Billion is the next question. I don't have any contacts in this type of financing, but the upbeat Red Cloud webinar we listened to recently, indicated, that the offtake agreements, had more equity than was required to raise the 150 million, and they hadn't even consulted the smelters at that stage. I believe that if we can raise 150 million to get the PFS and BFS, that the people involved would not put up this money, unless they were confident that Solgold could get this to production, as this would be money down the drain, if it never made it to production. Hence I wouldn't be surprised if the people involved, wanted a piece of the action in further offtake agreements, and that this is part of the discussion happening at the moment, to raise the 2.7 billion required.

Good evening Pickett2k, My understanding is the licensing is for the other tenements, Alpala is sorted, we just require funding to get the PFS and BFS, that comes to 150 million. We don't have long to wait in my opinion. We then raise the 2.7 billion required for the Alpala build. Then 2nd quarter next year, we start building. Now dare say more permits will be required at that stage, but really don't see that being a problem, as the question any government has to answer, is would you like us to give you lots of tax revenue, or not. It was indicated in the webinar, that what ever flavour of government is in power, the answer will be the same. Yes please give us money. One further thought, which I guess everyone picked up on, was that the Government needs to convince the populous that industry mining is good for the country, and artisan miners prevent the recovery, hence he felt that we would get a referendum on mining in the near future. This would settle the issue once and for all, and put an end to regional challenges. I think the question should be, " would you the people of Ecuador like all these mining companies to give the government lots of money, so we can tax you less".

Good evening zoros, I see you never listened to the webinar, although the subject wasn't covered, I feel pretty sure the 150 million is nearly sorted. Days rather than weeks. As for shares see sawing, Yep, that's the name of the game.

Good evening, I think BNC's post covers it, I would just like to add one thing. The IMF loan was brought up, and it looks like they don't start paying it back till 2025. Which is when Alpala is brought on line. That was emphasized by the Mining minister, I think the bit NM brought up about speeding up the licensing process, was rehearsed, as The minister said he had opposition, But as the webinar was about not only the future of mining, but also the future of Ecuador, I felt they wanted this brought up, as I am sure the message was get the licensing issue sorted, so we can get even more money out of the mining community, just when we really need it, after 2025, when we start paying back the IMF.

Good evening Portofino5, your question wasn't brought up, It was about the future of mining in Ecuador, not about Solgold.

Good evening Cookie, As SavShare7 says, they never took up there seat, I remember some speculating why. Newcrest has a member on the board.

Very positive, Looks like Ecuador will support Solgold to production, which brings up an interesting question.
Looks like NM working closely with government, if an offer was made for Solgold that took Nick Mather out the loop, Would this hold up the licensing. Many things to consider, Now we need to know about the 150 million of funding and on what terms.

Agreed AKGold, I believe the funding at NPV, will take us between 48 pence to 60 pence. On completion of PFS 30-40% of NPV, whatever that is at the time. Of course this will not happen overnight, but estimating that we will level out at these prices before BFS. Not withstanding any price dramas, which are all part of the fun of investing.

Just a mention, that on 15th October 2020, BHP are released from their standstill agreement, so NM, must have the PFS finished and announced by this date. In order to protect us from low ball offers, looking forward to this afternoon's conference.

Good morning AKGold, think the point you made yesterday, sounds likely, that we will get the RNS on funding tomorrow, with the presentation on the future of mining in Ecuador. It would make sense, as this would show the countries populous, that mining has a future. And how it will help the countries revenues and jobs.

If it's not forthcoming this week, then dare say price will fall, by how much, who knows. However I don't think we will go the week, without funding.