Member Info for RichyRich1

Nope!

As far as I can see the last update we had on Aguinaga was on 6th June 2018 which stated....

Aguinaga Drilling Program
The mineralisation intersected in drilling at Aguinaga thus far has similarities to that discovered at surface in rock saw channel samples that returned an open-ended, rock-saw channel sample result of 9.0m @ 1.51% CuEq (1.01% Cu, 0.79 g/t Au).

SolGold geologists believe that the first two drill holes at Aguinaga confirms the potential for a second large porphyry deposit at Cascabel, demonstrating a vertical column to the mineralising system of more than 600m, and a width of approximately 320m thus far.

Aguinaga Holes 1 and 2 assay results have thus far returned:
• 218m @ 0.45% CuEq (incl. 122m @ 0.52% CuEq);
• 58m @ 0.58%CuEq open at depth. Final assay results pending.

The drilling program at Aguinaga is only in its initial stages. Drilling thus far has intersected mineralised host rock, intra-mineral dykes, and late dykes and breccias. The source mineralising intrusion has yet to be encountered.

Drilling thus far shows potential for a second and near surface porphyry deposit as drilling continues towards initially testing 2 of 5 targets areas, (identified by geological, geophysical and geochemical modelling) from a revised initial 7 drill hole program. Target areas at Aguinaga cover a surface area of approximately 1.5km2 and range over 1300m depth from surface (1600mRL) to approximately 300mRL.

Did we ever get the assay results for the 7 holes they planned to drill at Aguinaga?

I’ve still got a feeling there’s a lot more to come with Aguinaga. I think the board put a hold on it due to the Cornerstone offer/issue so hopefully now the offer wasn’t declined they’ll get drilling it again ASAP!

The Iceberg.... It's Irwin who has made comments about something big happening 're Nick getting his due rewards etc.

When was this said? Recently?

Maybe reading too much into this but is this not the first time Aguinaga has been referred to as....

“ The Aguinaga Porphyry Copper-Gold Deposit”

Deposit? Not untested porphyry targets or prospect but a deposit!

Is this the ace up Mathers sleeve I wonder? The withheld info that Cornerstone referred to?

Quady....how can you say minimal dilution when the board are trying to pass a resolution allowing for an extra 2B shares to be issued!?

This is where the problem lies. Even if Porvenir and Rio turned out to be tier 1’s the market is not going to assign any value to the discoveries. We can’t even get a fair value for Alpala never mind another 2 tier 1’s that would need around $600m just to get to DFS stage!

The market is just shrugging it’s shoulders, yeah you’ve got these great finds but how are you going to finance/monetise them?

NM has a grand plan to become a major which is all well and good when you’re drawing down $60,000 a MONTH salary (if passed at AGM) but small(er) shareholders will be looking to make some return on their investment without having to wait 6 years before production and massive dilution along the way eroding any gains.

If Alpala is the blueprint for future discoveries we’ve got a long long slog ahead of us!

Torino...in a very short period of time we’ve issued a lot of shares both through the warrants being accelerated and the fundraising via CLN’s.

Since then our market cap has doubled despite an extra 100m shares or thereabouts so all in all I think we’re doing well to hold at this price.

As more drilling results come through hopefully we can push on towards 5p if they are positive.

It could well be a joint venture announcement with Andromeda that’s causing the suspension.

Question is what would we as share holders prefer? Personally a 50/50 JV with someone like Andromeda would be my choice!

Taken from the announcement March 2019....

The principle terms of the Wudinna Agreement are as follows:

• Stage One: Lady Alice will sole fund A$2.1million within 3 years of execution of the Wudinna Agreement to earn a 50% equity position.

• Stage Two: At the completion of Stage One, a joint venture vehicle can be formed, or alternatively, Lady Alice can spend a further A$1.65 million over an additional 2 years to earn a 65% equity interest in the Wudinna Project.

• Stage Three: At the completion of Stage Two, a joint venture vehicle can be formed, or alternatively, Lady Alice can spend a further A$1.25 million within 1 year to earn 75% of the equity in the Wudinna Project, being a total A$5 million to secure 75% of the Wudinna Project.

• Once the joint venture vehicle is formed, the parties will contribute to further expenditure in accordance with their respective equity positions, or dilute using standard dilution procedures.

• Lady Alice will act as operator of the Wudinna Project.

What’s interesting is there’s a choice after stage 1 which has now been completed. JV or alternatively Cobra (Lady Alice) spends more for a bigger slice of the tenements.

If Andromeda have decided that’s it we want 50% of this then Cobra can’t get a bigger slice. Andromeda then need to contribute to exploration/drilling costs.

Not sure what’s best for Cobra here!? 75% would be better but if Andromeda have to contribute 50% to costs going forwards we might have an acceleration in the IOCG targets!

With regards to the share that cannot be named on here I’m sorry but how can a company that doesn’t even have an MRE and a % share of the deposit be valued at £1.3B!? We’ve got £100B worth of minerals granted in the ground and can’t even break £1b market cap!

Very ambitious targets imac1 and that would be about 5 years down the line when they started to produce.

I think more realistic valuation would be 1m oz proven by end of Q3 2021 at £30/oz in ground value gives £30m market cap with 400m share in issue for around 7.5p.

If they hit an IOCG anytime in 2021 then add at least 15-20p!

I’d be stunned if we did Punit! Maybe end of next week we’ll take out the high if we get drilling commenced at Rio with a sneaky little visual!

Given the dilution from the CLN’s and the recent warrants I’m quite happy that the price is holding up around this level. Hopefully come mid January we’ll be knocking on 5p as more drilling results come in.

Surely it’s part of Nicks bigger plan. He didn’t need to update the market to tell us the PFS will be delayed further unless it’s part of the new SolGold transparency criteria?

Oh dear, think we’ll be punished today. I can’t even imagine the amount of work involved in completing this kind of study but if Nick has any sense and if he does have any other news from the regionals now would be a good time to get them out to keep investors on board.

Don’t really see why today’s news warrants a 7% drop with only 700,000 shares traded!

Given SolGolds track record I think it would be fair to say La Hueca and possibly Blanca has not been as positive as first thought. The rest of hole 1 assays at Porvenir fizzled out? Hole 2 drilling completed and nothing too encouraging worth reporting?

Hole 3 drilling commences?

I’m confused at the sudden blackout of news. We were kept informed about drilling commencing with both hole 1 and then hole 2 at Porvenir so why no news that hole 3 has commenced unless it hasn’t?

The board are great at getting good news out but have a tendency of just not reporting mediocre news even though it would be nice to keep shareholders informed.

Getting frustrated!!

Depends on how Craig wants to release the results. Interesting he was highlighting not all of the results will be available until the new year which means some of the results will be!

Not sure about that Quady. I’ll need to dig out the interview but NM definitely stated in the past there will need to be an equity portion for the financing of the mine.

Is it not as simple as this (or maybe I’m being a simpleton!)....

1/3 rd of the mine development needs to be using equity. We don’t know for sure but will have a better idea when we get the PFS!

If the mine build comes in between $3-$4B (some are suggesting closer to $5B) then 33% of

a) $3B = $990m
b) $4B = $1.32b

That’s a lot of shares needed to be issued to cover those amounts.

If (HUGE IF) with regional discoveries we got up to around 50p a share....

a) 1.98B shares needed to be issued
b) 2.64B shares needed to be issued

Is the above not the reason why Nick needs resolution 11 to be passed so he knows when the time comes he can issue/raise the new shares to cover the 33% mine cost liability??