The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
... that Hannam and Partners (World leading independent investment bank) are now listed in the contact section on the latest RNS (they weren't there on the previous Cascabel exploration RNS) as Joint Brokers:
Andrew Chubb / Ingo Hofmaier Tel: +44 (0) 20 7907 8500
Hannam & Partners (Joint Broker)
solgold@hannam.partners
Hmmm ducks getting lined up eh with looking at financing and funding options....
Hi goldenveg I think they've up the meters they want to drill before the MRE2 is released. Hence moving 2 drills back to Alpala and pushing the release of MRE2 from November to December. They've had quite a few discoveries at the extensions of the deposit (NW, SE and the western lobe) and would want to have enough holes around there to add into the resource (including daughter holes and step out holes). Don't forget this is pulling together the evidence base to feed into the PEA and, if they're having early conversations with financiers, the larger the MRE2 the more economical and the easier/cheaper the financing will be... Just my own thoughts, DYOR
Hi Ship, Scot Caldwell resigned June last year so would not have had any up to date inside info to share I don't think. http://www.lse.co.uk/regulatory-news-article.asp?ArticleCode=k9s1y8dl&ArticleHeadline=Resignation_of_Director
Hi Shippy, are companies allowed to withhold price sensitive information (such as drill results, exploration updates etc) whilst under DD? I thought they have a duty to release price sensitive news (good or bad) as soon as they are able. I know companies can put Non-disclosure or confidentiality agreements in place with companies who want to do DD on the company (i.e. not release that company XX has been allowed access to Solgold info for the purposes of DD), but I think they still have to release info? Anyone know for sure? DYOR and GLA
Hi All - would suggest trying to read through this 49 page report. Just finished skimming it and it is very thorough (including economic analysis, mine design and process etc....) and gives an initial target price of 69p whilst caveating the number of catalysts around to provide substantial further upside from there... If you sign up for research tree (subscription) you can gain access... very much worth a read... GLA and DYOR of course
Columbo don't forget quite a few shares were issued since the 41p buy in so the total MCap value is higher now, so would be, in essence, a higher share price if the 25p issuance hadn't taken place...
This is a bit about who they are and what they do: "The Philadelphia Securities Association was founded to promote and provide a platform for the distribution of corporate and investment knowledge to its members, the maintenance of the highest ethical standards in the conduct of the investment business, and the encouragement of an association of good fellowship among various constituents in the Philadelphia investment and securities business. The current resident membership is limited to 400 members. Membership includes all facets of the business including registered traders, portfolio managers and investment counselors. Approximately 40% of our membership is employed by “buy side”, institutions such as banks, trust companies, insurance companies and advisory firms. The balance of our membership consists of, “sell side”, analysts, traders and brokers from the brokerage industry."
How on earth did you find that?! Lol. And I though my research skills were above par... Bravo sir :) Well suggest it's to meet with US investment organisations... Philadelphia is the home of NASDAQ I believe? Perhaps lining up some organisations with deep pockets...? GLA and DYOR
http://m.miningweekly.com/article/solgold-ceo-high-grades-deliver-independence-2018-09-28/rep_id:3861 "SolGold CEO: "High grades deliver independence..."
I know this is early days but I thought it would be interesting to compare a potential NPV outlined on page 12 of the Final Accounts Report to some other projects out there as that will be what the financiers and other potential investors will be looking at, with the PEA scheduled for January that will give us some more robust figures and understanding of costs, development etc....
NM Q&A section:
"There is so much value in the Alpala project to be realised and we have a reasonable target of 10million tonnes of copper and 25 million ounces of gold in the next mineral resource estimate and a valuation which I believe can deliver a NPV over $4 billion and IRR over 25% for a 40 million tonne per year block cave mine at reasonable gold and copper prices and reasonable discount rates.
From the very beginning of this project, we knew that it was big and ambitious, but management input into a large project is much more efficient than management input into a small project and for the market to see value drivers to increase the SolGold share price, we needed to be focussed on the big target and not give away the upside."
CADIA EAST (Newcrest) -> NPV $887m & IRR of 21%
http://www.newcrest.com.au/media/market_releases/Cadia_Expansion_Pre-Feasibilty_Study_Findings.pdf
OYU TOLGOI (Turquoise Hill) -> NPV $4.5b & IRR of 16.33%
http://www.turquoisehill.com/i/pdf/IDP10_June062010.PDF
:) GLA and DYOR of course
Sorry and here's the link to the FY2018 annual report from BHP
https://www.bhp.com/-/media/documents/investors/annual-reports/2018/bhpannualreport2018.pdf?la=en
Hi Mog999 - Had a look in their annual report & key bits in terms of financial performance:
- BHP have reduced their net debt to US$10.9b from US$25b two years ago
- They aim to pay out at least 50% of their profits in dividends each year
- They have free cash flow of US$12.5b
- Total 2018FY dividend of US$6.3b
- Underlying attributable profit of US$8.9b in 2018FY
So they should have a few $ left down the back of the sofa for some acquisitons I reckon, especially as they've already been reducing their net debt over the past few years and also making huge efficiency savings through their transformation programmes. GLA and DYOR of course
Dated 10th September 2018 this free FT article gives a great overview of where BHP has come from, their strategy, assets and even includes a cheeky little mention of us and Ecuador - thought it was important to understand the motivations and goals of BHP given they've just taken a stake in us
https://www.ft.com/content/e7edea14-b293-11e8-99ca-68cf89602132
Hi Danny digit, It's available from 7am MDT, so 2pm our time. You can find the link to the Solgold one below: https://www.denvergoldforum.org/webcast/