Firering Strategic Minerals: From explorer to producer. Watch the video here.
Hi Rolex it means that the employees can purchase new shares directly from the company at the price laid out with the time period stated. The idea being that the share price is expected to exceed that price by enough of a margin to mean that if they buy at, say 60p, they could sell for a lot more and make a profit. Say the price is 80p the thing a lot of people with options do is sell a portion of their existing holding to give them the opportunity to buy their options, i.e. get more shares. E.g. Director X sells 187,500 shares at 80p (the hypothetical share price at the time) on the open market for £150k. They then exercise their options for 250,000 shares @ 60p (60p x 250,000 = £150k) ending up with 62,500 more shares (worth £50k @80p) without having to spend a penny of their own money . Hope that makes sense? GLA
Hi Anon, I'm not sure how many companies do things to the standards required... Plus, if you think about it, Ecuador went from having minimal mineral exploration to massive amounts within the space of 18-24 months with the number of tenements that were awarded to new companies. That = bottleneck.
They're addressing it now so hoping that it should push things through in the new few months as we are surely awaiting the results to enable them to update the MRE and get the PEA done etc...
RSR the options are, in essence, incentives for employees to help the business do well. Which should make the share price go up and, in future, the strike price they can buy their shares options at should seem cheap, and make them wealthy when they sell :)
For us private investors it makes us happy as it makes us think that the organisation believes the value is there which will make the share price go up above those levels before they expire.
That is all it really suggests about the company. If you go back over the years the company has used Employee Share Options to incentivise and compensate staff (often reducing the amount they have to pay staff as share options are counted as part of their "package")
That's my take on things. Plenty of catalysts to come.
One that will be of interest to me is what happens to Cornerstone Capital Resources post-spin out... as I have a feeling that someone may make a move for them to get a foothold in Solgold and ENSA... Do your own research and read, read read!! :) GLA
Hi Anon, ALS labs only had their nearest site in Lima, Peru. In the most recent couple of RNS they said that ALS had a new lab under construction in Quito, Ecuador, to increase capacity and expedite assay results.
They are constrained by current capacity and have to go through an industry recognised organisation to ensure that the quality of results can be trusted. Solgold have said that the new lab in Quito (a mere 3 hours drive away or so I believe) will help to speed things up! GLA and DYOR
TwoGoals, it looks like Rio Amarillo as it is circled on the presentation, is mentioned alongside other priority targets like La Hueca, Porvenir in the latest RNS but doesn't have details on it within the presentations yet.
Haha, true Tuju.
By the by y'all, there is a lot more detail in the Cornerstone releases that they put out in parallel to the Solgold news releases.
Interesting to read the latest one out that includes more information about the Aguinaga and Trivinio drilling.
Link below if of interest:
https://www.sedar.com/GetFile.do?lang=EN&docClass=8&issuerNo=00013027&issuerType=03&projectNo=02789360&docId=4345640
GLA and DYOR
Hey Ronin1, this is going to make your day :) They've got their new blog up! Not read it yet, but thought you'd be happy, lol. GLA
http://www.solgold.com.au/solgold-blog-1
Hi Risehall, looks like Rio Amarillo is circled along with Blanca Nieves in the North as priority targets so am assuming that Rio Amaraillo is the promising Copper Porphyr target in the North near Cascabel that she mentions in her presentation? Just my 2 pence, GLA
Earthling it's not just 15% direct interest in ENSA but over 10% of Solgold too...don't forget...Cornerstone kept pluggin the overall interest in ENSA being higher than their 15% given their additional indirect interest via their Solgold shares..
If you include direct and indirect interest Cornerstone hold equivalent of c23.5% of ENSA (15% direct + c8.5% indirect via just over 10% in Solgold)... but legally, from a control perspective, I think it's just the 15%...
The other thing is that Cornerstone are dirt cheap at the moment (my own opinion) with the share price having been surpressed for a while now...there have been musings on the ceo.ca board about the impact that the share restructture that is being put into place with multiple share classes with different voting rights and a share consolidation is really screwing about with private investors, mainly favouring some of the larger investors, potentially those that swapped solgold shares for Cornerstone shares last year.... the thing that is clear is that there is a long game being played... and we little minnows will be the last to find out...
therefore i would prefer to be in than out... DYOR of course and read up! There is plenty on ceo.ca and on SEDAR filings...especially all the legal contracts as part of Solgold acquiring their 85% in ENSA originally.... GLA
Hi Mog, Solgold have first refusal rights for any disposal that Cornerstone may make for its' stake in ENSA. The only way round this, to realise value, is for Cornerstone to split the company (as it is doing) to wrap the ENSA stake (and solgold shares) up within a company that can be taken over.... Cornerstone's split should have been completed in June but they are now saying should be done in July... this may be a catalyst for someone to show their cards in terms of
interest in ENSA ... DYOR and GLA
Not Solgold, but worth a look to see the kind of information and value that a (what I personally would view to be) smaller project looks like, IRR and NPV etc...
https://www.juniorminingnetwork.com/junior-miner-news/press-releases/823-tsx/ssl/48762-sandstorm-gold-royalties-releases-hod-maden-pfs-and-increases-production-guidance.html
Sandstorm has just released the PFS for Hod Maden which has a lot less copper and a lot less gold than we have currently reported in the MRE. I know it is different capital requirements etc but interesting to see the size and excitement of this project against what we potentially have in Alpala, let alone the wider Cascabel tenement...
GLA and DYOR
Hi Grimbergen,
Totally agree. This is as much about infill drilling to increase confidence and grade (i.e. from inferred to indicated status) of the high grade core as it is about increasing the size. This is part of the journey alongside the PEA so we can go from "Estimated Resource" to "Resource Statement" and more to demonstrating an economically viable resource that we can go to the bank with :)
The key two bits from the RNS today that give me confidence are:
- "....extension to the high‐grade resource along the lower and northeast margins of the deposit."
- "We continue to observe extensive potential resource growth outside current inferred and indicated resource blocks at Alpala. We expect to deliver a substantial conversion of previously estimated resource categoriesto higher grades as drill hole density increases throughout the deposit area, as well as a significant increase to the resource estimate of the high‐grade core at Alpala."
Don't forget the high grade core (which they suggest are increasing in size, grade and confidence) is what they are looking to initially cover the CapEx required to build this mine. The rest, despite being lower grade, is viable as the upfront costs are covered by the high-grade core and makes this a potentially multi-generational mine...
For those that haven't seen it and are more visual in their analysis please do look at the June NY 121 Mining presentation which has a 3D model that shows the original MRE and an estimated increase in size based on assays to date, this shows what NM means when he says things like "...significant resource growth is expected in a revised MRE."
https://static1.squarespace.com/static/560a5feee4b0a63bf47c76f5/t/5b2a21d703ce6421e6c0969c/1529487846893/SOLG+121+New+York+Presentation.pdf
GLA and DYOR
I think you all mean over 100% increase in the total meters available that can be (i.e. over double what we had originally) included within an updated MRE not 56.8% increase... I think you mean that only 56.8% of the total meters drilled to date have been used in the original MRE....
DYOR and GLA
...of assay results pending.
Jeez, the sooner they construct the Ecuador ALS lab the better. There's clearly some money to be made with all of the exploration going to open up more labs surely!
I agree with what's been said already, 4 weeks lag (or more) for current outstanding assay results, a few weeks to incorporate into the model and then a release of an updated resource estimate, potentially with a PEA..., which could mean we can release the updated results as a Resource Statement rather than Resource Estimate, showing compliance with instrument 43-101? That would certainly up the ante...
GLA and DYOR
SatanClaus you need to stop this right now, it's becoming unerving how I am agreeing with you... If he is appointing an alternate for DGR when it is just ticking over then why not do the same for Solgold where there is arguably more activity at present...?! GLA and DYOR
Sorry for those that have SatanClaus on filter he brought up an interesting find:
"dgr global announced today that mather is stepping aside and appointing karl as an alternate director until july 6th. i am hoping that this is in some way related to solgold in that there is now some solgold third party talks going on and the alternate director thing is some sort of way of dealing with related party issues as there has to be some logical reason for this move."