Member Info for schlemiel

nm

looking frisky again

https://investingnews.com/daily/resource-investing/base-metals-investing/copper-investing/types-copper-deposits-world/

'A high grade at a low depth can have far less value than a mediocre grade consistent through a deep core. Corebox is a great tool for keeping informed.'

The election of Lasso and this post-Lasso corporate event is no coincidence. Maybe this take-over has piqued CGP's price. We will now see a flood of investment funding into Ecuador's natural resource sector now sovereign and title risk has fallen back somewhat? I hope so cos some of us have bills to pay and mouths to feed

'This is the sticking point, they can't go it alone. But no one is showing their hand YET. Something changed last week, we are not privy to the information. Wish I knew what is brewing. In the meantime, hold on.' (Mam Fach on ADVFN)

Can we sense that something did change last week? Mather gone. Lasso in. Board changes.

I think SOLG's turned a corner and is heading in the right direction now though how that will feed through into value we can only hazard a guess

https://moneyweek.com/investments/commodities/603303/latin-america-leads-the-way-in-the-raw-materials-for-clean-tech

''Michael Scherb, the founder and CEO of Appian Capital Advisory, a private-equity mining investor that owns mines in Latin America, believes clean-technology metals will go higher. “Mining companies are classic ‘lag’ businesses with long lead times for mines to get into production, so they were slow off the mark in responding to demand for clean tech. That’s reflected in the current prices for copper and nickel. People realise that there is going to be a supply and demand mismatch. However, I don’t think that even current prices reflect the full extent of the gap between supply and demand, which will become more apparent in the future.” Another factor is the declining quality of ore, says Scherb. Companies will have to “mine deeper for poorer-quality ore, which will increase costs. That will feed into the industrial production chain, which will push inflation in the sector”.

So the world will need immense amounts of copper. And that’s where Latin America comes in. Chile and Peru are the world’s largest copper producers, accounting for 44% of global output. Yet their neighbours have more exciting exploration potential. Miners up and down the Andes believe that Ecuador and Argentina have as much copper as Chile and Peru. Wojtek Wodzicki is the CEO of junior explorer NGEx Minerals and has overseen three massive copper discoveries in Chile and Argentina. “All along the Andes you see incredible deposits. Chile and Peru have exploited that, with their long history in mining, whereas Ecuador, Argentina and Colombia probably have much more to be found. An area with promising geology but little exploration equals opportunity.”

cont.........

It’s a gas, gas, gas: How Aussie richlisters plan to unlock a fracking fortune in the NT

By Anne Hyland
May 29, 2021

https://www.smh.com.au/business/companies/it-s-a-gas-gas-gas-how-aussie-richlisters-plan-to-unlock-a-fracking-fortune-in-the-nt-20210527-p57vmy.html

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It's a hefty article

has resulted in a price rise of around 9% and decent volume while drilling results from TAM were met with a slight indifference. Today's news is afforded a somewhat weightier importance and therefore significant , for whatever reason

But what exactly was Mather supposedly 'blocking'? His primary aim was to prevent a low ball bid.

The copper market, unlike oil, is supported by a dearth of new discoveries at a time of rising demand that will accelerate with decarbonization efforts, according to the world’s biggest publicly traded producer of the metal.

While government and market actions can have an impact in the short term, copper is a very long term business and is “extraordinarily strong,” Freeport-McMoRan Inc. Chief Executive Officer Richard Adkerson said in an interview Thursday.
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“There’s no shale oil for copper,” he told Bloomberg Television. “Unlike the oil industry, where you have an ongoing flow of discoveries and now with a new element of shale coming in, copper mines of size are very rare to find.”Play Video

Bets on tight supplies have sent copper prices to record levels as major economies emerge from the pandemic and the energy transition boosts the outlook for the metal used in electric installations. The rally has cooled somewhat with the outlook of a tapering by the U.S. Federal Reserve and China’s efforts to ease a commodities price surge.

The industry is facing a supply scarcity that will require both copper substitution and increasing recycling, Adkerson said. If prices were to double tomorrow, Freeport would be unable to bring on new supply within five years, he said.

Freeport’s margins are expanding as near-record prices and a ramp-up at its flagship mine in Indonesia counter any cost increases. The company has “its arms around” input supply challenges, he said.

Host nation politicians and unions seeking a bigger share of the copper windfall is a typical response to surging prices, he said.

https://www.mining.com/web/freeports-adkerson-sees-copper-scarcity-trumping-cooling-effort/

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thanks to aussiebattler on ceo.ca.cgp

https://www.miningweekly.com/article/former-adventus-board-member-now-ecuador-minister-2021-05-26/rep_id:3650

Former Adventus board member now Ecuador Minister

Copper/gold explorer Adventus Mining said that Roberto Salas had resigned from its board on Friday, prior to the inauguration of Ecuador’s new government.

Salas was CEO of Consorcio Nobis – one of Ecuador’s largest private organisations and a strategic investor in Adventus – and served on the junior’s board of directors as a nominee of Nobis.

He is now the new Energy and Non-Renewable Natural Resources Minister in the Cabinet led by President Guilermo Lasso.

“We wish Roberto well as he joins the new government of Ecuador and will surely contribute his extensive international business experience to Ecuador’s continuing economic and social development for all stakeholders,” said chairperson Mark Wellings.

Adventus expected to receive and announce Nobis’ new board nominee ahead of its general meeting on June 10.

350k buy

Lasso's surprise victory has triggered a change in sentiment. His victory reduced political and sovereign risk and should attract hefty natural resource investors to the country

DBW

Second RNS - 'The Board of SolGold wishes to advise of the pending retirement of Mr Karl Schlobohm'

First RNS - in essence, the removal of and addition of certain members to adhere to stricter corporate governance no doubt as a precursor to I suspect further development (financing, JV's intiatives? )

it's a postive development and that is always welcome

'Perhaps the two biggest reasons to be bullish on copper are one, the massive costs and risks involved in finding and opening new mines in often geo-politically risky countries where a miner's social license to operate is shaky at best.'

SOLG's doing all the right things regarding its social, human welfare and environmental progams

What a superb article that is.

we have movement

That leaves Solgold (LON:SOLG), which is perhaps the most difficult conundrum. Its latest report on SEDAR on May 14th looked encouraging, with progress towards unwinding the strategic tangle into which its management under Nick Mather had seemed to embroil it. Drilling to plan a quicker and cheaper way to develop its very large Alpala gold/copper deposit is under way, and more recent results at the Tandaya America satellite deposit only a few miles away, showing significant mineralisation much closer to the surface that at Alpala itself, should lead to a much cheaper and quicker way to develop the whole Cascabel area. We will know when a revised feasibility study is published towards the end of the year.

Meanwhile at the other (southern) end of Ecuador, Solgold’s drilling at the Porvenir project is also showing an ever-increasing potential to develop it as a surface, open pit mine, possibly even larger than Alpala.

But the market doesn’t yet seem to be convinced. Perhaps the management legacy is too recent, and although Solgold has stated an intention to bring in partners to help fund some of its other promising projects in Ecuador, investors are still not sure of the implications for raising more shareholder funds in the medium-term future.

Nevertheless, it now appears that the spat with its two largest shareholders, Newcrest and BHP, who apparently disagreed with its strategy under Nick Mather, is over. I think therefore that Solgold can only go one way from now on, and has perhaps the best long-term potential of the five I cover here. Perhaps the charts would be our sailor’s best guide, but it might take four-six months before they become useful.

https://masterinvestor.co.uk/equities/johns-mining-journal-galantas-kefi-xtract-and-more/

sorry, repeated..apologies

SolGold PLC (TSX:SOLG, LSE:SOLG) – Impressive Drill Results at TAM; Additional Drill Rigs Planned

Impact: Positive

SolGold reported drill results at its 85%-owned Cascabel project in northern Ecuador. The results are from the first seven holes targeting the Tandayama-America (TAM) porphyry copper-gold target, located approximately 3km north of the Alpala deposit (Figure 1). Assays are pending for the remaining three holes, and further drilling is ongoing. This is a positive development for SolGold, as initial drilling at TAM encountered mineralization and could potentially add to the already large resource at Cascabel.

All seven holes encountered very wide intervals of Cu-Au. Highlight drill results include 531m @ 0.30% CuEq, including 272m @ 0.44% CuEq, in Hole 1; 1,040m @ 0.33% CuEq, including 250m @ 0.45% CuEq in Hole 3; 426m @ 0.37% CuEq, including 342m @ 0.43% CuEq in Hole 5; and 522m @ 0.38% CuEq, including 230m @ 0.44% CuEq in Hole 7 (Figure 2). Mineralization at TAM forms a northwest trending corridor occupying an area 750m long by 500m and extends to a depth of over 1,200m. We note that the mineralization encountered in these holes is below the resource grade at the Alpala deposit.

more

Valuation:
We are maintaining our BUY rating and our C$1.90 target. SolGold remains significantly undervalued at its current share price. We value the company at C$5.39 on NAV basis, while it currently trades at 0.09x P/NAV versus exploration and developer peers at 0.61x. We believe these excellent drill results at TAM are expected to help bolster the company’s share price, especially as additional drill rigs come online. Upcoming Catalysts: 1) Drill results from holes 8-10 at TAM (ongoing); and 2) Additional drill rigs to come online (2021); 3) Maiden Mineral Resource Estimate (2021).