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Your welcome Pinot, yes much better than previous PR releases in the single digit days.. lol

...has been going crazy this morning.

Here's a tweet on a note Berenberg bank sent out this morning regarding the transaction:

https://twitter.com/SolGold_plc/status/1037247342179700736

Nice article about Newcrest Vs BHP https://www.fool.com.au/2018/09/05/bhp-billiton-limited-asxbhp-just-grabbed-a-slice-of-a-highly-coveted-mining-company/

...as battle With Newcrest heats up" https://www.afr.com/business/mining/bhp-buys-solgold-stake-as-battle-with-newcrest-heats-up-20180904-h14y1d

I always thought the last raising at 25p would form the floor, certainly now that BHP sees value at the 26p+ level you would hope any who needed further reassurance of value proposition may choose to head back in here .. this now makes the CGP Spinout process even more interesting as we will have 2 major miners with a stake in the company who may want to either gain or maintain a bigger slice of they pie than the other...

I had to stifle a whoop when I read that.... They're backkkkkkkkk :) well done long term holders, that's a pretty decent signal to the market

hi golden veg i thought it was a50/50 split between those at 14p and those at 28p for Maxit?

...from yesterday:

https://seekingalpha.com/article/4201828-best-drill-interceptions-mining-sector-week-ended-19-august-2018

Excerpt from final Paragraph:

"And this resource was calculated using just 53,616 meters out of 63,500 meters drilled as of the middle of December 2017. So far, Solgold has drilled around 135,000 meters with another 20,000 meters planned over the next four months. There is a preliminary economic assessment underway for Casbabel and I think that a project of this magnitude and with this much exploration potential will turn Solgold into a compelling takeover target. I think that among the likely buyers are Newcrest (OTCPK:NCMGF) and Guyana Goldfields (OTCPK:GUYFF) who already own 14.54% and 6.08% of the company, respectively."

Thanks to @robo over on Ceo.ca for flagging :) GLA and DYOR

...result call today. Encouraging words from Sandeep Biswas in the results call. Taken from the transcript some excerpts below: "As announced earlier in the year, by 2020, we aspire to have exposure to 5 Tier 1 ore bodies either as operations, development projects or equity investments.... On 26th Feb this year, we announced our acquisition of a s27% interest in Lundin gold, who are currently building the Fruta del Norte gold mine in Ecuador. We believe Fruta del Norte is a Tier 1 orebody with construction well advanced with it scheduled to come into production by the end of next calendar year. We also continued to hold our investment in SolGold, which owns the Cascabel deposit also in Ecuador. And after conducting an opportunity review, we optimized our portfolio by divesting Bonikro during the year." In short Sandeep the way I read that was that Sandeep was confirming that Cascabel is targeted to be one of their 5 tier one deposit exposures as part of their strategy, currently through an equity investment. https://www.google.co.uk/amp/s/seekingalpha.com/amp/article/4201697-newcrest-mining-ltd-ncmgf-ceo-sandeep-biswas-q4-2018-results-earnings-call-transcript GLA and DYOR

Earthling i think they've said it is c$500 per meter drilled so 17,000 m x $500 is $8.5m to spend for the drilling. Look at the drilling cost diagram in the presentations. Plus back office cash burn, exploration of other tenements, PEA (using salaried individual) plus updated MRE (which I assume will use SRK again) will cost as well... DYOR and GLA

I'd say 30m AVG per day for the drill rigs X 10 for the 10 at Alpala = 300m per day = 56 days to get the 17km drilling done. I'd say updated MRE in November / early December. PEA is in progress an I'd guess they are using the live model to gives strong indications to get the PEA together so they just have to tweak once the updated MRE is out. I'd say end of the year for the PEA. Just my own ramblings, DYOR and GLA

Hi pad, 7 drill hole programme for Aguinaga not 7 drills :) thank you for sharing. GLA

... seems to now be open in Quito which should help speed up the assaying as per the last few RNS. Let's hope they can push through the c25km of core ASAP. Just a FYI

https://www.alsglobal.com/locations/americas/south-america/ecuador/quito/quito-geochemistry

...from the Diggers and Dealers conference over in Oz where Nick presented earlier this week. The presenter is Newcrest's General Exploration manager so thought it may be of interest here. I have emailed Solgold asking if they are going to share the presentation that Nick gave as well.

Apologies if already shared.

http://www.newcrest.com.au/media/presentations/2018/Diggers_and_Dealers_080818.pdf

Don't forget Maxit Capital have c19.6m options, half at 14p and half at 28p which expire mid October which will bring in some additional cash if exercised. There are also 22m options at 28p which expire mid October for employees which may not get exercised, depends of what happens between now and then and, more importantly, the SP. GLA

Agreed Earthling the updated MRE will be required to feed into the PEA. That's not to say that they wouldn't release them in quick succession given they are working with a "live model" that enables them to keep updating their resource model with assay results as and when they come in.

I would say that a PEA is a hefty piece of work, with standard elements that need to be included to ensure that they are 43-101 compliant.

GLA and DYOR

Solgold have been saying during 2018 and one of the Analysts coverage notes (think it was NBC) has said H2 2018 so by New Years.... The study Manager only started in April I think? It does sound like a lot of the thinking has already been done.

I would think that they are awaiting the c20km of core assays back so they can remodel and upgrade the MRE. An upgraded MRE (especially with a significant increase to the high grade core) would significantly help a PEA which I think we need to be of the "smash it out of the park" variety.

GLA and DYOR

Hi Pad, great find. Got access to it and rough timeline Jason outlined in the article specifically for Alpala:

2018 - PEA / updates to MRE
2019 - Pre-feasibility
2020 - Feasibility and starting permitting and construction (construction and permitting estimated at 1-year based on Fruta Del Norte experience)
2021 - Production

Annual processing of 55,000 t/d eventually going up to 110,000 t/d
Within 3 years costs would be amortized with 20 mt p/a initially rising to 40 mt p/a

Don't forget this article was from when Jason Ward presented at the CRU conference in Chile back in April. This was before some of the rock chip samples at places like Blanca Nieves that may provide a quicker and easier project to generate revenue to help fund the BC for Alpala... It is an ever evolving project.

GLA and DYOR

Hi FTJNY, the valuations they put on average for each stage from exploration to producing using a spread of companies that were taken over and attribute a per lb of copper equivalent in US $. it's a useful guide and does show a significant increase from phase to phase which is why NM is keen to move this through feasibility and development to get more value from what's in the ground. For those interested the takeover prices per lb in US $ based on industry averages are: Exploration/PEA/Prefeasibility phase: US$0.05 per lb CuEq Feasibility phase: US$0.08 per lb CuEq Development phase: US$0.25 Per lb CuEq Producing phase: US$0.31 per lb CuEq So biggest jump in valuation is to get to development phase which is where NM has been talking about getting to with funding etc.... DYOR and GLA

Cheers TheItalian will take a look. Great article!