0.2%13 Mar 2024 06:14
'Now, at 1/5th its then share price, Solgold’s £204m market cap compares with £117bn worth of gold and copper measured and indicated resources ‘in the ground’ at Cascabel alone – regardless of other promising exploration prospects. That is a value only 0.2% % of high quality resources, when in healthier mining markets valuations for most mining projects would be in the 1-2-3% ranges.'
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This is Cornford from Feb 2024. You can see the upside. Monetisation of SOLG's assets is essential. Sell each asset to the highest bidder (Cascabe, Porvenir (7m) etc etc). I am sure most would take a 2-4 times upside from here. Hanging around for production is a mug's game as you can see at GGP. Most on here will be dead before SOLG's assets are producing meaningful revenues and profits
''Now, following a long needed merger with key Cascabel shareholder Cornerstone, the latter’s management has taken over, although hadn’t yet been able to lighten the gloom.
Since the 2019 feasibility study, Solg has been bending to shareholder demands for a more easily funded plan, if not for a sale of its various projects, so now it has come up with a new Cascabel study for a cut-down plan showing an initial capital cost of only $1.6bn, still (at a higher $1,750/oz gold price) showing a 24% rate of return, but over a mine life half the much-too-long 55 years of the previous plan. At what are fairly conservative copper and gold price assumptions, and with scope to expand production from other nearby resources, Cascabel looks a much more feasible proposition, with a far better chance that some bidder or funder will come along.''
Asset sales are the way forward to max shareholder value
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