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M79
You're probably correct. The only other question is what have SOLG had to sacrifice to secure that funding? That's the real question
Personally, I prefer a takeover or better still some form of singular asset monetisation following proving up
Without cash SOLG is vulnerable. It needs both short term liquidity to see it through commercialisation and capex commitments to derisk Cascabel and by extension related assets
I don't believe this is a SXX ala Potash in Yorkshire scenario but should the company be deemed to be insolvent then they're open to threats. Someone will try and steal SOLG's assets and pick them up for next to nowt
Nm
Blanca-Nieves Project Update - Outcrop results 6.15m @ 7.46 g/t Au
SolGold (LSE & TSX: SOLG) is pleased to provide an update on the Blanca-Nieves Project ("Project"). SolGold holds a 100% interest in the Project through its Ecuadorian subsidiary, Carnegie Ridge Resources S.A.
· Exploration identified a significant porphyry target at El Cielto Norte covering approximately 2.5 x 2.5 km and is greater in extent than the Alpala system to the south at the Cascabel Project
· At Florida, new assays from channel samples of gold-bearing epithermal quartz vein outcrops with up to 6.15m true thickness, returned results of 6.15m @ 7.46 g/t Au, including 2.2m @ 21.1 g/t Au
· Advancing new target areas towards drill-ready status
· Potential for future integration of Blanca-Nieves with the Tier 1 Cascabel Project, due to the proximity of approximately 8 km
Santiago Vaca, SolGold's Chief Geologist, commented:
"Our team is excited about the overall prospect of the Blanca-Nieves Project, including the potential for future integration with the Cascabel Project. The district scale opportunity reinforces our view that mining has the potential to be a significant, multi-generational sector in Ecuador."