Member Info for RichyRich1

They’ve had 2 years to get their ducks in a row and the stories just got better and better over the last 2 years!

Given it’s quite unusual for a minor to call all the shots with a major and quite a few commentators have mentioned the 2 year standstill was not normal who thinks BHP will bid on the 16th?

What’s NM’s strategy with the Cornerstone offer expiring the day before the standstill ends? Could this be something related to the information that is being withheld according the Cornerstone?

Maybe Nick has been in dialogue with BHP about a bid but can’t release any info until the standstill expires?

Surely by agreeing to a 2 year standstill BHP intend to make an offer at the end of this agreement or why bother accepting the conditions in the first place?

Nick should raise another £50m by issuing 100m shares to BHP at a 50p placing and have similar conditions and standstill attached for another 2 years.

That would allow him to dilute other shareholders, really put Cornerstone in a bind and use the funds to rapidly prove up regionals, complete BFS and then scoop up 15% of Ensa for $3.5m just to really put one right up the Cornerstone Board!

Next week is going to be very very interesting.

Bring it on!

The issue of equity to BHP was announced on the 16th October 2018 so I’m guessing it’s the 16th October 2020 the standstill expires?

http://ir.q4europe.com/Tools/newsArticleHTML.aspx?solutionID=3676&customerKey=Solgold&storyID=14092096

Any funds left over from the Franco deal after studies is being used towards development costs for Alpala.

Here’s a scenario.....50p on PFS then BHP bid for £2B so £1 a share 100% premium. Question is though would NM accept that for SolGold!?

The PFS valuations could be the info that’s being withheld according to Cornerstone. Makes sense. If they released that info and it was considerably higher that would add value to Cornerstones 15% of Ensa. I agree it won’t be released until after the Cornerstone offer expires and BHP standstill has elapsed for a good couple of weeks.

I’m not convinced the recent rise has just been down to Porvenir, Rio and Blanca updates as such. Obviously good news but Rio hasn’t started drilling likewise at Blanca and one hole doesn’t make a mine at Porvenir.

I reckon the market has got wind of the PFS valuations and we’re rerating to a more realistic price based on that.

Upgraded Alpala NAV £4B at 25% = £1B market cap or 50p or thereabouts?

On BFS completion @ 50% of NAV = £1 per share.

If this is the case once we get assay results for Porvenir, Blanca, La Hueca and Rio that should add even more value to SolGold!

I think our current valuation and rerate is based mainly on Alpala. We’ve got a LOT to look forward to in 2021 in we’re not taken out before then!!

....news tomorrow? La Hueca update? Porvenir depth extension so drilling or drilling stopped but still in mineralisation? Bit too early for PFS I think but got a sneaky feeling we’ll get more news tomorrow!

I think it’s fair to say they’re still trying to get to grips with geology of La Hueca. Given the fanfare (and quite rightly so!) with Porvenir if they had found anything as exciting we would know all about it by now.

Unless La Hueca is NM’s ace up his sleeve leading up to BHP standstill expiring to keep the momentum going but not convinced!

I really hope NM has some other news lined up for tomorrow. Not wanting to sound greedy but if he can release another regional related update tomorrow and keep the momentum going until the assays for Porvenir, BHP standstill end, Cornerstone offer accept/decline then top off the month with the PFS for Alpala the SP should be well north of 34p.

Will be a tricky one to trade in October (for those that are so inclined) as news from multiple fronts could drop at anytime. Certainly wouldn’t want to be shorting throughout October!

Imagine how regular the updates will be with 6 rigs drilling at Porvenir!

Bring on the news!

Maybe the recent rise also has something to do with Newcrest buying more shares on the open market? They were being advised by Bank of Canada what to do with their holding. I’m pretty certain that advise would be you’d be nuts to sell buy more! Another 60m shares for another 3% on the open market?

Maybe the strategy has been discussed with Cornerstone, Newcrest telling them to sell shares to pay their bills putting downward pressure on the sp then they could start to hoover up shares at a lower cost. Has a gentleman’s agreement been discussed between the two and Newcrest will indeed make a move for Cornerstone. Another few % bought on open market with Cornerstones 7% would give Newcrest a 23% holding in SolGold.

Total speculation and just musing what else is behind the relentless rise. Pretty pictures of core samples have never ever generated such a rise in the past.

Let’s see what unfolds on Monday. Enjoy your weekend.

I’ve set myself a task over the weekend (if I get time working two 11 hour shifts both Saturday and Sunday) to troll through all RNS’s from hole 1 to the last hole drilled at Alpala and try to figure out how many drills were on site and how long it took to prove up Alpala.

If there’s going to be 6 drills at Porvenir very soon technically they could get it proved up with a MRE within 1.5 years when it took 3 years for Alpala for MRE1?

It’s been so long proving Alpala lost all track to time other than knowing it’s taken fecking ages!!

Maybe they’ve been drilling at Rio for a few days and already hit some tasty mineralisation or La Hueca has come up trumps!?

A hastily constructed BHP bid in the offing maybe!?

I think given the excitement and how quickly they released early visuals for Porvenir if they had found the same at La Hueca they would have released them by now no!?

Before you can say Blanca I’d imagine multiple drills will be sent quick smart to there as soon as the Cornerstone debacle is sorted. If they do decide to come on board that’s when Blanca (or Nieves) will be drilled. In my humble opinion that will be the tenement developed faster than Alpala with bonanza gold grades and fast tracked to production.

Isn’t it crazy to think that Alpala could be dwarfed by Rio, Porvenir or La Hueca and there’s still 68 other tenements to explore.

It pains me to say as I’d be very comfortable if a £2 share offer came in but Nick Mather would be crazy to sell SolGold in the next five years given what could be unearthed across their tenement portfolio!!

For many more important reasons other than an exploration company it’s such a shame Covid has been so devastating.

Just imagine where we would be with the regional exploration if Covid hadn’t hit!?

97.5m @ 2p!

Afternoon RNS in time for when the Canadian market opens?

I thought they only had until today to release the updated MRE3?

What a joke! Down 5.5% on less than 600,000 shares traded! And people claim this isn’t being manipulated!?