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Something must have fuelled the rise yesterday. 10am news to keep everyone on their toes?

Similar thread on ADVFN, wonder why Cornerstone are selling their shares in SolGold. Personally I think they are distressed sellers and need the cash. 11m @ 22p average has given them just over £2.4m so that’s should keep them ticking over for a while. Would be good to know how much they need to sell though. Hopefully nothing more sinister than needing to free up some funds!

Maybe the Ecuadorian government are going to partly finance the mine!?

Depending on the agreement would it be fair to say given our market cap is roughly £450m currently and we only have $10m in the bank by raising 1/4 of our market cap we should see a 25% increase in our SP!?

Big IF but reading up on valuing explorers IF our NAV is around $6B after BFS 50% is roughly £1.20 per share (as long as there’s no more dilution).

Placing of 250,000,000 shares at £1.20 gives us £300m. £250m towards 10% of development cost for Alpala leaving £50m for regional exploration and still only (only!) 2.3B shares in issue.

Just trying to guess what NM’s plans are for the future. All very speculative I know but discussions about SolGold rather than sniping at each other would make all our time more productive! There’s enough stress currently given the circumstances and hopefully this board can be a means of escape!

Don’t SolGold have first dibs on any shares of SolGold sold by Cornerstone!?

Part of the original agreement Ted. Cornerstone must contribute 10% of development costs after BFS or SolGold can buy the rights for $3.5m unless I’m not reading the presentation correctly?

They’re being forced into a corner Broke to accept any SolGold offer unless Newcrest have anything to do with it I suppose. Imagine losing 15% of €5B NAV ($750m) for $3.5m. Yikes

Looks like NM will drag this out until the BFS is released then CGP must contribute 10% of development costs (roughly $260m!!) THEN SolGold can buy CGP’s share for €3.5m. If that happens CGP shareholders will be mightily hacked off!

Thanks Colonel

Does anybody know if the 250,000 still on the bid? Thanks

From 11th March business update....

“Funding discussions for finalising the DFS and SolGold's share of pre-development costs are progressing encouragingly. If an agreement is reached, finalisation and settlement could take up to eight weeks.”

Takes us to Wednesday 6th May.

Webinar on Wednesday 22nd April Ingo stated around 2 weeks to finalise off take etc agreements....

Takes us to Wednesday 6th May.

And now on Wednesday 6th May....

Nick Mather on roundtable with René Ortiz, Minister of Energy and Non-Renewable Natural Resources - The Role of Mining in Ecuador's Economic Reactivation

Bit of a coincidence with timescales no!?

Monday or Tuesday for news I’d suggest.

I know I keep banging on about it but surely a major could buy us out for €4.8B (roughly £2 per share) spend €2.6B building the Alpala mine then reap the €50B rewards from only one of SolGolds tenements! It’s inconceivable that the other 72 tenements wouldn’t be as highly profitable as Alpala but just for arguments sakes let’s say only 5 of the 72 tenements were a third as profitable as Alpala that would still equate to another €90B profit!! Still not convinced NM would accept £2 a share. He’s not exactly a poor fella needing the money. His legacy would be potentially the top global gold and copper producer in the world in 20 years time once everything has been proven up and producing.

The other big question is how much would NM be willing to sell the whole company for? He stated the offer would have to be ridiculous and the majors won’t offer that so what’s ridiculous? £2B, £4B, £6B or more?

NM hinted he expected the SP to rerate on the funding announcement. The $2.8B question is what’s his expectations.....rerate to what? Anyone care to hazard a guess? Is 50p a share giving a market cap just shy of £1B realistic? That would still be a 50% discount to NAV or am I being totally unrealistic?

SolGold have spent $160m to get to where we are now and it’s taken 6 years more or less to prove up Alpala. What excites me going forward with all the knowledge gleamed from Alpala and applied to the other high priority targets there’s the potential to prove up at least two other hefferlumps before Alpala comes online. Those that remember the days of one drill turning (and hacked off donkeys and hobnobs) then slowly ramped up it took a long time to get to 10 drills turning. If the money is available to get cracking on with 10 drills on two high priority targets it is feasible they could half the time to prove up two other tier 1’s then use the proceeds from cash generated from the Alpala mine to pay for the mine construction of the other two! Major in the making!!

So an estimated $56B extracted metal value for Alpala alone! Offer of $8B for SolGold in entirety, €3B to build Alpala mine, €10B estimated life costs of the mine total €21B leaves $35B profit and 73 concessions that could potentially be richer than Alpala. I don’t think NM will sell SolGold for anything less than £3 a share and even that’s a bargain.

Hopefully over the next two years we’ll see Blanca fast tracked and proven up to help pay towards the Alpala mine. Warren Irwin’s latest coverage called Cascabel “blue chip” imagine the potential value attributed to SolGold when the other regional tenements reveal their secrets!

Great news but devil is in the detail. Looking forward to terms of the agreement with whoever the board decide to go with. If NM can pull this off to development with minimal dilution hats off the guy.

There must be a reason why Blanca hasn’t been referred to in the latest presentation. The concession was transferred into Ensa ownership after Cornerstone contested the boundaries so why not update progression in the presentation unless there’s been a confidentiality agreement agreed with a prospective buyer? Hmmm....very strange.