Member Info for Quady

Good afternoon Jerry, please don't make it your last post on the subject, as you have knowledge from your statement. My understanding is not from mining, but the oil and gas sector, and even then it's from investing, I never worked in the sector. My expertise lies in broking, but mostly as a technical analyst in information systems. All the best.

Sorry Jerry, KB007 is correct, you cannot calculate an interest rate, as too many unknowns. We do not know the copper price over the years. An offtake, allows traders to make more money in the future, so cannot be calculated that way. Also depends on how much copper is in circulation. KB007, has explained, my understanding of offtake agreements, better than I did. Also Talatum, you are welcome.

Good morning Jerry, afraid they can't do that, as no terms agreed at the moment. Only registering interest. Because we have a lot of interest, with more to come on in the future. I would suggest we are only going to engage with the most competitive offtake agreements. Great to see this level of interest, and nice to see early progress from the appointment of our finance director.

Good morning Jerry, it's never going to be 15 to 20 interest. I don't believe offtake agreements work that way. Either it will be a fixed price agreed on the futures market, or they will receive a discount on the market price at the time, for a stated length of time. Other measures are also possible. This is not a distressed company that needs to agree to large interest rates. We could borrow cheaper on the open market, even at these times.

Good morning Iceberg, can't let Talatum take the blame. It was me that warned of the potential of delisting, when unsure if how the financing would be done, as have seen this happen with other companies with huge potential and low on cash, I gave one example. However today's RNS had made me more relaxed. Will always keep an eye on changes of tone, by company statements, but we seem to be heading in the right direction, and faster than I thought.

Good morning Talatum. Understand all the excitement, but we have some way to go. Global companies don't make bids, based on a feeling. They use hard data, and never pay full price. Don't believe we will get any bids, however the story is good and progressing as planned, this should fill us all, with a renewed confidence.

Good morning Gerry, MRE3 was always only going to the difference, between indicated and inferred. However this is the first indication of funding. If we can get a higher percentage of offtake agreements, this reduces our requirement for institutional borrowing and another issue of stock. Dare we hope that offtake agreements can totally fund this. I really doubt it. As the timescales are not sufficient. But looking forward to when we sign the first ones, and for how much. Last thought, as the build progresses, who's to say further offtake agreements won't be signed, to pay off some of the projected borrowings, and just as important, fund further drilling.

As you say AKGold, good news whatever the outcome.

Good morning AKGold, these are only my musings. But expect announcement on Cornerstone, PFS, also unsure if we require the BFS to get some of these take off agreements signed. Completion and all permissions signed off by Ecqador government, in order to proceed with Construction, and also an expected exceleration of permits on other sites. After all we have shown we can raise the money to go to production, within a reasonable timeframe, for government tax revenues to start flowing in. I do believe we will get this built and in production on time.

Good morning AKGold, they can bid anytime, if released from standstill agreement. But why would they. They would be refused. Just think how much more news to come, before October.

Good morning opulentia, that has always been my point. The price will be too high for a major to take. They will have a share of this. But at what price would any of the interested parties sell at. With funding close to completion, why sell your stake in one of the biggest copper and gold mines to come online in the near future. I feel many private investors would sell for one pound a share, but in truth, what will the first dividends be, when we are up and running. I brought this to be a growth share, in my portfolio. As don't have many. Today I generate income, this may be another income share for me.

Good morning DBW, I agree, they never needed to report it, but does as you say, help protect the share price. My only question, is the directors could have loaded up before hand. This indicates to me, either another issue of shares, where they subscribe, or could it be that, further news to come, with the exercise of some of the warrants.

Good morning RichyRich1, the answer to my mind, is yes he can. I am still concerned that some dilution may occur, but this will be offset by the price rise. However, because of the level of interest, we are only going to be taking the best offers. This has always been the way to go. Just as important, this I should think, changes Cornerstones timetable. That might be the next RNS.

Good morning all. We all knew something like this was coming from previous RNS's. However pleasently surprised that we have so much interest before the PFS. As addicknt says, good news whatever camp you are in. Again as you all know, I believe we are going to production, so will be interesting how this news is received when the market opens at 08.00 this morning. Great news that we have so much interest and can pick and choose, stating the obvious, nothing signed, but it wouldn't be at this stage, so nothing wrong with that. For me, the fact they issued an RNS on the subject, infers that this was something that might affect the material price. Looking forward to what comes next.

Good morning Talatum, unlikely, the thing to watch out for is if a number of parties own or get close to owning 75% of the shares. Solgold have a diverse share register, but should some consolidation take place, becomes more of a problem. However as I said something to keep an eye on.

Thank you Iceberg, I have read that, and are happy with the statement. I felt that if it was a new announcement, then I wanted to understand what had changed. Thank you for the clarification.

Good morning bm3121uk, that would be ok, however would like to see the transcript of what was said. As when near to profit, a company called fortune oil, did something similar, that increased the percentage of the main players, the private investors sold, many because they were fed up, and a concert group was formed. Nobody knew what was happening, and the company was delisted, at a fraction of the value.

Good evening Iceberg, could I ask you to post the link. More than happy if directors buy on the open market. However another cash raise, in which they and other parties participate, makes me nervous at this stage. Would like to read their statement before commenting any further.

Good morning AKGold, afraid we are at market value. Market value is what the market will pay. Lots of things need to happen, I am of the belief that they will happen, I am guessing that we will see a benefit, near the end of 2021, after the BFS. Then of course more to come.

Good morning Jerry, the problem with that is This is part of Newcrest long term strategy. They will have fifteen percent of a gold copper producing resource. At what price will they sell. Certainly not at a valuation of 4 billion dollars. That would make their 15%, worth about 600 million. They would want more than that. It certainly equates to more than 1.50 pounds per share. Are BHP really going to offer more.