Member Info for RichyRich1

Hopefully 2020 we’ll see an aggressive drilling campaign for Blanca. We need a new discovery to get investors both new and old excited again. If Alpala isn’t going to be producing until 2027(!?) how the hell us SolGold going to cover basic operating expenses for the next 7 years!? If Blanca is potentially bonanza grades and relatively shallow surely next step is to prove that up in the next two years and have it producing by 2024 to help with development costs for Alpala. It’s always been mentioned there could be another tenement that can produce faster than Alpala. Really wish the board would stop exploring all the other tenements and just focus on the one that can be proven up the quickest and get producing ASAP otherwise it’s going to be a long long slog for the next 7 years!

NM has hinted that there’s been many financing companies interested in SolGold and he doesn’t think they’ll have a problem getting finance to build the mine for Alpala. Red Cloud were the first to mention streaming finance so there’s obviously discussions taking place regarding long term financing. Just wondering if the reason why such a little amount was raised with BHP was to keep the lights on as NM had an agreement already in place for long term financing but subject to the PFS. Bit of a coincidence the amount raised pretty much takes us to roughly when the PFS is due to be released? Just thinking out loud, could be way off the mark!

Have Newcrest not got an anti dilution agreement or has that now expired also? With BHP handing over pocket money to SolGold NC might have a little anti dilution top up?

At least it appears we’ve broken the pesky 21p! Hopefully we can build on the gains from today. More news tomorrow please to keep the momentum building until MRE3!

Hmm, interesting! 150m shares for £30m at 20p? Would see SolGold through to bankable feasibility and BHP 21% share holder? The deal must be around the 20p mark given how the sp has been marked down to around this level. Or maybe at 25p so it looks like BHP are paying a premium? Time will tell

Crossing the T’s and dotting the i’s by the look of things! There’s obviously been financing discussions taking place and probably for some time now hence the news black out on Alpala/Cascabel so I’d imagine the agreement is ENSA related and not for the regional subsidiary SolGold companies as that’s been the only real updates we’ve been getting this year. The plot thickens!!

As always, thanks to research meister Pob69 at Advfn for highlighting the link! Thanks Pob! Anyone else get the feeling SolGold are stretching themselves a little with all the regional exploration!? Money is running out and it will take many 100’s of millions just to explore the other tenements never mind the $2.4B needed to develop Alpala! Please please please SolGold board put investors concerns to bed with a funding announcement before releasing the MRE3!! Everyone knows there’s literally billions of tonnes of metals across Ecuador but with no money to explore and then eventually develop (think I’ll be long gone before all the tenements are actually producing!) the market won’t care how much is burried they want to know how is it going to be paid for!!

hTTp://www.solgold.com.au/wp-content/uploads/2019/11/SolGold_Corporate_PPT_Munich-.pdf

Very true TheItalian, I’ve always believed this will come good. Every year I’m thinking this time next year Rodney!! This time next year (2020!) Rodney!

Don’t want to be an Eeyore and although the rise is welcome the SP should never have been ground down to the level it had been! Excited at a 20% rise but it should have been a 20% rise from the 40’s and not from around 19p!! Apologies for the grumble!!

Maybe one of the reasons there’s been radio silence from SolGold is to try keep a low profile given all the social unrest that has been simmering away for some time now!

Here you go Smickster, with thanks to Pob on Advfn for originally posting.

A couple of contrasting articles about "environmentalism and terrorism" and "Australian mining companies complicit in escalation of unrest in Ecuador" $SOLG $SOLG.L $CGP #cascabel #ecuador SolGold. This is of relevence taken from the Rainforest Action Group article... “...The reforms by the Ecuadorian government are part of IMF mandates that seek to open Ecuador further to international investment..." "...The government continues to move ahead with plans to increase mining concessions, axing taxes so that mining companies can operate with lower overheads, and providing armed forces to ensure the security on the sites of these proposed mines. The IMF loan was provisioned on foreign investment, particularly the strategic mining projects such as SolGold’s proposed Cascabel mine which acts as collateral for the loans. hTTps://rainforestactiongroup.org/media/#australian_companies_complicit_in_unrest hTTps://www.elcomercio.com/cartas/delgada-linea-ambiente-terrorismo-protestas.html

Sorry Arok, not trying to add any fuel to the fire! This is a very recent development worth discussing I would have thought? Not trying to scare people in the slightest. I’m a long term SolGold bull and believe in the management team (think there’s more than meets the eye and discussions happening in the background so will give the board the benefit of the doubt just now!) but when there’s new news about Cascabel potentially being used as collateral for an IMF loan, yeah makes me think about all scenarios and how that would play out! Apologies to anyone if they think I’m deliberately trying to scare monger, not my intention at all!

Is anyone else a little concerned about Cascabel potentially being used as collateral for the IMF loan agreement!? How’s that going to work? So if Ecuador default on their loan does the IMF swoop in and seize Cascabel or will they be entitled to the billions of taxes generated going into the IMF coffers instead of taxes paid to Ecuador!?

How’s that ship? Are they your sells? Sell price way above bid price so sellers getting a premium?

My eyes have dried out from keeping them peeled!! I think geologists live in an alternative time reality! Imminent could mean 10,000 years and keep your eyes peeled could mean 6 months! Jeez!!

I know Jerry, I’ve tried emailing Anna a few times in the past and get a 50/50 response rate. Never ask anything that I know she can’t answer as it just wastes her time. What’s frustrating is the constant drop in SP and what appears to the boards blase with regards to the the valuation of the company. If there’s going to be a placing surely they want the sp to be as high as possible! Funds are needed, everyone knows that but there’s 10,000’s of drilling unreported, permits are obviously hitting snags with local opposition in regional territories, Cornerstone debacle that’s dragged on for months now etc. If the constant drop in share price is only due to running out of funds what happens when the coffers are dry?!

Sorry Jerry but what good is that going to do? Get some repsonce “sorry can’t comment on this that and the next thing” shareholders are being kept in the dark have been for months now! There’s games afoot and like always the little shareholders are the last to know. We can say every penny drop costs NM £900,000 but the guys already a multi millionaire and taking a hefty salary from SolGold year on year so I’m sure he’s not losing sleep over every penny drop! Little shareholders who have invested their meagre income (don’t mean to insult anyone with saying that but I’d be stunned if anyone on this board has the same amount of money invested as NM) are just a nuisance to this outfit!

Sorry but I’m getting extremely hacked off with the current scenario being played out here! We’re all second guessing what’s going to happen in the future but we have had no reassurance what so ever from the board! They appear to be quite content letting the SP drift down and down! Death by a thousand cuts springs to mind and for all we know once the coffers run dry (£22m will be gone very quickly) BHP and Newcrest can call all the shots on their terms! If there’s a placing anything less than 30p then unfortunately I’d agree with Warren Irwin Nick Mather should be removed from his position as this year performance has been abysmal!

Whilst we all twiddle our thumbs trying to second guess what’s going on with the long drawn out Cornerstone affair how about this scenario?

IF Newcrest buy out Cornerstone what happens to the existing SolGold/Cornerstone agreement?

“Cornerstone must repay SolGold its 15% share of costs to Feasibility in excess of US$2.5M (spent by SolGold to acquire its 85% interest) from Cornerstone’s share of proceeds from the tenement”

Can anyone confirm how much Solgold will have spent to get to feasibility? Let’s say it’s £150m. What if Newcrest take on the existing deal giving SolGold 15% of £150m? £22m more or less!

“Cornerstone may contribute to development at not less than 10% or dilute to a 0.5% Net Smelter return royalty, which SolGold may acquire for US$3.5M”

Newcrest contribute 10% of development, £220m towards the mine development?

Question is how much would they need to pay to buy Cornerstone? £100m, £150m, more?

Let’s say they paid £125m for Cornerstone, £22m for SolGolds 10% refund and £220m towards development total almost £350m taking their holding in SolGold to 25% and the additional 15% of Ensa?

Not sure if that would be a good deal for Newcrest or not!?

Sorry to burst your bubble Arch but have you seen the 1m plus buy after hours and don’t mean the UT!?