Member Info for Quady

Good morning addicknt, you may well be right. I do agree with you, that if cornerstone sold out, that the scenario you put forward, becomes more likely. Also if NM accepts a deal, then all bets off. Again I think, that you are correct and many private investors, would sell up, and indeed why not for a nice profit. My problem is two fold. Firstly the cornerstone issue has proved hard to resolve, and should they stump up the cash, what then. Secondly, I cannot see NM selling below value, and although, I am much more knowledgeable about the oil and gas sectors, I do see similarities. When sells of such discoveries take place, they never achieve full value. NM says he would only sell for full value. Lastly the Newcrest issue. I cannot see Newcrest selling under any condition, except a very good offer. Yes the possibility of selling Alpala and a special dividend, with enough cash to prove up other tenements is attractive. But just think too many ducks to line up to make this work. Nice to hear from you on this.

Good morning RICH3R, understand your point of view, and indeed one that many posters on this board hold. If you are correct, then we get a payday sooner rather than later, and with many other share prices at historic lows, we will pick up lots of bargains. I do agree that more than two companies could own Solgold, as that's what we have at the present moment. However do not believe any one company could table a bid that would encourage others to sell. It's the share register being so diverse that is the problem. I don't see how the mechanics would work, to table such a bid.

Good morning Talatum, the problem with someone bidding for us, is unless the bid was large, the other majority share holders would not relinquish their holdings. They want to be part of the production cycle for the money they have paid. BHP, could easily get out of their standstill agreement, by talking to NM, and discussing the terms. But although NM is a substantial shareholder in his own right, and through DGR, you also need Cornerstone and Newcrest, to give up their shares, in something that's just going to continue to grow. Why would they do that. They wouldn't. NM will obtain the funding, with little or no dilution. None of these holders need the money urgently. I got into this share seven years ago, and from day one, the same uniformed investors kept on saying their is a takeover coming, and I wouldn't want to be out of this over the weekend. They were wrong then, and feel they are still wrong. The people saying patience required have been proved right. Still some way to go.

As always addicknt, your latest articulate post, provides us with your thoughts . The good news is whichever one of us is closer to the outcome, a payday awaits us in the future. Good luck everyone.

Good morning addicknt, I take your point on one or more of the majors wanting ownership or a bigger stake, and agree that may be the case. Also good morning Jerry, I believe it would be expensive, as the major shareholders would have to sell out, so blocks would have to be brought out, and others like Newcrest and BHP, maybe wouldn't sell. That would raise the price. On Newcrest building the mine. It wouldn't cost Newcrest anything. Quite the opposite. I am suggesting that Solgold would engage and pay them to build it, with the 2.8 billion. Just like to add, it would make sense if they have already talked to the parties that would build the mine, in order to price this up and come up with the 2.8 billion figure in the first place.

Good morning addicknt, as always I enjoy reading your posts, as you always ( to me that is ) provide balance and thought to the argument. I am not so sure, that the CEO's of the major mining companies, disbelieve him. I believe that the reason we obtained a finance guy, with some aplomb, was to get the financing that we required. Agreed we don't have this yet, but the noises look good, and we can all guess what form this would eventually take. Maybe, we will get Newcrest to build this mine. This maybe one of the reasons that they have a seat at the table and BHP don't. I realise their could be other reasons, that BHP have not taken up a seat, and that gives your argument of being sold on more emphasis. I am in agreement that the commentators don't believe Solgold will take this to production, and various mining companies, want an increased position in future Gold and Copper reserves. But feel they don't want to get into a bidding war, and that Solgold maybe an expensive acquisition if they did. Maybe Newcrest and BHP, will settle for the 15%, that they each have, and look further afield.

Good morning Montecristo. Indeed that is what NM has said in the past and has kept the message constant. I would just like to add that your estimate on a time frame for drilling the other tenements seems reasonable, and may indeed go faster. My reasoning for this, is that as Alpala has been drilled, we have made improvements in both the drilling and the data, and this will speed up the process in the future. So with more drilling rigs, and an improvement in technic, things look more positive. I would like to add a thought of my own. The later rigs could drill deeper and faster, also with 2.8 billion to build Alpala, maybe NM only requires the 150 million to get them to a position, that further funds can be borrowed, rather than share dilution, if we are near to a producing, and hence self financing mine. In terms of economic activity for Solgold, this is going to be ramped up considerably, and create many more jobs. This is not a case of jam tomorrow. For the Ecuadorian economy this is jam today.

Thank you Wayne, just finished listening. I got the impression of very little or next to no dilution to get us to production. I have always felt this, but nice to see the way this is progressing to production.

Good morning KB007, I may get some abuse on here, for explaining my view on the price, but here goes. Yes we have a resource and it's in the ground. If we had the copper part at around 0.6 instead of 0.2 then we wouldn't be where we are. We have some near surface gold in abundance, but not at Alpala. So some of the copper and gold is going to be more expensive to extract at a lower margin. I know their was a go for gold strategy, but that seems to have died away, and we are looking to acquire 2.95 billion. 2.8 billion to build, and 150 million for the every day running costs and further proving up of our other tenements. The fact it looks like we are able to do this, is the real story here to my mind.

Good morning AKGold, I guess the reason we didn't get a great rise in the price this morning, is because it's already priced in. Hence in line with what most of us expected.

Good morning Grimbergen. In agreement. However one further thought. Funding may come through a mixture of streaming and loans. Maybe the streaming part, would be placed at roughly these prices, as opposed to a floating price for gold and copper.

Good morning BNC, that's exactly what they are saying. By the time the production run starts, gold will have declined, as the rush to a safe haven, will have finished. Copper will be in greater demand, as we clean up the planet, and while I believe the gold price to be about right. I do believe the copper price has been unvalued.

MRE3 out, guess we wait for PFS now, and some firming up on the funding. Would be nice then to have a date when construction starts. All looks good, but still some way to go.

The imminent release of MRE3, does not promise a increase. It may actually decrease a bit. This will be difference between inferred and indicated. Also I would be surprised if we established MRE3 on anything below 0.2 as the cutoff for our resources. For the PFS, we may have to go back to 0.3

Well done Cookie, wishing you all the best.

Good morning Shipright, not really into emailing the company. As I suspect they are busy, and will only get a standard reply. My interest here, is that we seem to have some funding in principal, from MRE3, and the PFS. To me it makes sense, one follows the other. I think interesting that they are still talking about a BFS, but now wondering if this is necessary. Lastly, with the lockdown we get closer to the date in October, when BHP is realised from its standstill agreement. All this while we as a company, cannot proceed due to circumstances outside everyone's control. Guess it's wait and see.

I believe MRE3 is due April the 8th or 9th, my reasoning is it was 4 weeks from official announcement. It was announced on the 11th March. But officially announced on the 12th March. Does this tie in with others expectations. However, with the current situation all bets off, but since they had the data, hopefully they have all they require to issue MRE3, with the shutdown.

Good morning Cookie, quite right, he has acted immediately to protect his workforce. Just look at the behaviour of some companies, Sports Direct and Weatherspoons spring to mind.

Good morning Jerry, agreed, but just to add, BHP could not take this out either. It's not to do with how much money anyone has. The major stock holders, for which their are quite a few. Would all have to be approached, to see at what point they would sell. They would either want fair value, or above fair value. NM understands this, and largely this is what protects us from a takeover. So from my point, we continue to production, with the possibility of a large take out bid. ( unlikely for the reasons given ). Or one day we are a producer, with decent revenue streams paying a dividend, which would hugely revalue this share price.

Thank you Novicehunter, I am guessing that its tough to set prices and just as importantly the spreads. Should be an interesting close at 16.30 tonight.