Member Info for schlemiel

addicknt - your postings are always well worth reading. Thanks

I am perplexed as to why there's so much opposition to the expressing of opinions whatever those opinions maybe.

Let posters post whatever they want to post.

https://twitter.com/SolGold_plc?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor

for the updates from today's Webinar

Top stuff fella...that's a fair outlay in monetary terms...gud-luk

Ambassador specifically praise Solgold when there are so many other mining companies in Ecuador? Doesn't anyone find that slightly strange? Was it a goodbye and thanks for what you have done for our country?

looking buoyant today. ARS flying. HUR up 5%. Sentiment change?

JS - Absolutely. A total and utter joke of a transaction. Yes, there's the risk of dry wells but recent news from Exxon nearby does appear to have reduced the risk of that somewhat....a joke really but ECO's in no position to argue..it's a price taker

Why not try and effect a farm-in to Cascabel rather than take a stake in SOLG itself?

Is a farm-in strategy exercised before a discovery is made ie a risk sharing exercise?

Does the Standstill agreement apply to just SOLG (company) or does it also apply to Cascabel-Alpala (ENSA)

filthy - This may seem perverse but I enjoy watching the order book as it changes and morphs throughout the trading day. I am certain that when the weight (depth) flips back to bid from the offer the price will start to make upward progress. That ain't gonna happen anytime soon though by the looks of things...

good luck all

https://twitter.com/EmbajadaEcuUK

cheers pob69

Ah, yes it was me! LOL.. I don't think I was directing criticism at earthling though...sorry earthling!

FR101 - most of the orders on the order book are DMA orders on the sell side. They are not MM's. What is weird is the almost complete absence of DMA buy orders on the bid...very odd...

the buying interest (executed trades and orders) has completely fallen off a cliff

It is a very intriguing situation - who's behind these large DMA sell orders?

I don't know wtf is going on!!

'well trained orangutan as Schlem put it!'? I didn't say that did I? I would never be so rude though my attention span and memory are so constrained that I find it difficult to remember what I said even 15 minutes ago....I'm just an old t*t with a grumpy persona!

WHAT’S NEXT?





It’s universally expected that the many outstanding assays still here from 2018’s drilling will ultimately add further to the overall resource, as well as converting still more of it from the inferred to indicated categories. It’s uncertain as of now whether that all will manifest itself in yet another upgrade, or maybe first in what is an expected upcoming PEA in the first half of 2019.





Aside from that, I’m especially interested in two possible looming developments:





Any new satellite discoveries away from Alpala, especially any that are nearer surface. Such a thing would provide further attraction to the idea that the overall Cascabel concession is its own bona fide mining camp in the making; one that could produce for generations.



The next moves by BHP Billiton, Newcrest (and/or others?) to get their own bigger piece of this monster. These latest numbers have prompted analysts covering SOLG to significantly up their price targets on that company; on average to more than doubleits current market price. And no doubt chatter will be increasing as we move toward the day when one or more of these global mining giants steps up in a bigger way to make sure IT will at least have a major hand in developing this deposit some day soon.





In the case of Cornerstone, it’s overly simplistic to expect that its shares, too, should merely keep up with SOLG, given that CGP owns–both directly and indirectly–some 23% of Cascabel. As I have explained previously, it conceivably could be the key to eventual majority control of Cascabel for another company.





Already, some were speculating that either Newcrest (which presently owns 14.5% of SolGold) or BHP (now up to over 11%) could just as easily buy Cornerstone as anything else to increase their stakes. Now that the growth of this world-class resource into a Tier One asset is confirmed, this talk may well increase.





I’ll repeat what I said the other day: Things should continue to get ever more interesting here!




Posted November 26, 2018

end

https://theprospectornews.com/?p=24051

That the core is now far larger is a step in the overall de-risking of the project, and revealing it as one that could be developed at an acceptable cost given these high grades. Further, with the entire resource (albeit some of the rest right now at lower grades and still inferred) now totaling 10.9 million tonnes of copper and 23.2 million ounces of gold, it is additionally the “Tier One”-sized asset that majors will want to have. (NOTE: For a broader look at the resource breakdown and more of SolGold’s exploration plans to augment it further, I encourage you to check out THEIR OWN NEWS of the past week.)





RECOGNITION GROWING ELSEWHERE





Happily, our Members got in on the ground floor here, when both SolGold, plc (TSX-SOLG; LSE-SOLG) and Cornerstone (TSXV-CGP; OTC-CTNXF) were selling for a fraction of their present valuations.





Now, with Ecuador generally and Cascabel particularly bursting to the front of the line of the consciousness of the world’s mining industry, belated coverage is appearing elsewhere at an increasing rate. And that’s especially true following this week’s resource upgrade!





For those who would like further color to this, check out the following:





* THIS ARTICLE from Financial Review, now characterizing the project as a Tier One copper discovery.



* THIS ITEM from Forbes contributor Tim Treadgold. Though he seems somewhat a Rip Van Winkle only now awake to Ecuador’s emergence as the planet’s most important new jurisdiction, etc., it’s noteworthy that this publication now contains coverage of the story!



* My own Twitter feed — https://twitter.com/NatInvestor and Facebook pages — https://www.facebook.com/TheNationalInvestor/ — where this past few days I have highlighted and passed along several other coverages.

cont...

Chris Temple – “Thankful for Cascabel – Now officially a “Tier One” asset”

Aerial view of the main drilling camp targeting in/around

the main Alpala Prospect at Cascabel



It was only a week and a half ago that I passed along the latest impressive assay results from SolGold’s ongoing aggressive drilling campaign at the monstrous Cascabel concession in Ecuador.

A bit ahead of expectations, SolGold this week released the eagerly-awaited upgrade to the initial resource estimate on the Alpala prospect area. And suffice it to say, it was the latest big step in the evolution of this world-class asset; now, to official “Tier One” status.

Keep in mind that the HUGE resource at this now Tier One asset continues to grow; yet is just one central target of many at what should be a multi-generational producer of Cascabel.







The biggest takeaway of this week’s news (see RIGHT HERE for all the details at junior partner Cornerstone Capital Resources‘ web site) was the growth of the high-grade “core” area at Alpala.





Now, the overall, growing resource is anchored by a larger high-grade indicated resource of 400 million tonnes of 1.49% copper equivalent. That breaks down to what will likely be an initial development target (as of now) containing 3.6 million tonnes of copper and 11.9 million ounces of gold.





Said President and C.E.O. Brooke Macdonald of Cornerstone (the initial discoverer and concession owner at Cascabel), “We are pleased that the increase in high grade resources has been added within or adjacent to the previous high grade envelope suggesting a robust target for early extraction of higher grade material. We are also confident that continued exploration on other Cascabel targets will add to the total mineral inventory.” (Emphasis added.)

cont..

Definition - What does Standstill Agreement mean?

A standstill agreement provides various levels of protection and stability to a target firm in a hostile takeover and encourages an orderly sale process. It refers to an agreement between the parties to refrain from taking any further action.

For example, a firm may agree to refrain from making further attempts to take over a target firm for a specified period, or a financial institution may agree not to call bonds or loans when due.

Divestopedia explains Standstill Agreement

A standstill agreement is an agreement that preserves the status quo. It is an agreement between the target and the bidder that prevents the bidder from making an offer to purchase the target without first obtaining its consent. It may be added as a provision in the confidentiality agreement and is executed before obtaining due diligence material. A standstill agreement aims at preventing hostile offers, and it provides a potential remedy in case the bidder uses confidential information to launch a hostile bid in cases where the parties cannot reach a mutual agreement on the terms of sale.

As a hostile takeover defense mechanism, the target firm can acquire a promise from an unfriendly bidder to limit the amount of stock that the bidder can purchase or can hold in the target firm. This gives the target firm time to build up other takeover defense strategies. The target firm may, in exchange, buy back the prospective acquirer’s stock holdings in the target at a premium. The target firm may offer some other incentive, such as a seat on the board of directors. A standstill agreement can also be an agreement between the parties not to deal with other parties for a specified period of time while negotiating with each other. It can also be used as an alternative to bankruptcy or foreclosure.

In financial institution cases, the original repayment schedule is altered to give more time to the borrower, which allows the lender to salvage some value from the loans.

https://www.divestopedia.com/definition/5014/standstill-agreement

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Note the word 'hostile'

Expert opinion

Mines and Money London: The Lost Cities, Cutucu Project – Searching for gold in Ecuador
Posted on November 26, 2018

Aurania Resources Keith BarronEcuador, the home of the lost cities of Logrono and Sevilla del Oro, is said to be richer than the entire Spanish empire. These mythical lost cities are being hunted by Keith Barron, a man with extensive knowledge not just of the geology of this area but also its history.

First visiting Ecuador in 1998 to avoid political violence in Venezuela, Keith enrolled in a Spanish language course and was billeted with the foremost authority on the conquistador conquest of Ecuador. He developed a deep interest in these lost cities and an desire to validate the effort in 1981 only a decades before the lost city of Nambija was rediscovered by two boys pig hunting in the jungle. It very quickly declined into a shanty town operation with 25,000 people descending upon it in search of gold. To prevent this, the government is trying to locate more of the cites and Keith is leading the charge. From the halls of the Vatican City Library to the archives of Seville, he searches for more information about the two lost treasures. He is now getting close.

Aurania Resources Keith BarronThis wouldn’t be possible in other South American countries, but Ecuador has recently become a very low-risk location with major companies such as Glencore, BHP, and SolGold investing in the area. The country boasts excellent jurisdiction, huge areas of unexplored land, and low risk. As Keith states, if you want to find an elephant of a deposit you need an elephant package of land (he currently has half a million acres of land held ready for exploration).

His last discovery of Fruta del Norte by his company Aurelian Resources saw its share price go from $0.46 to $43 a 92000%. He is now searching further north along strike of the same geology of his previous discovery. In fact, his management team has found 18Moz of the 26Moz in the Contiguous Mineral belt, a country that is significantly unexplored and has a history of being immensely gold-rich. What more do you need?Aurania Resources Keith Barron



By Joshua Powell

https://miningir.com/mines-and-money-london-the-lost-cities-cutucu-project-searching-for-gold-in-ecuador/

26-November-2018

With the aim of informing the inhabitants of the province of Bolívar about the presence of SolGold in that area and in the country, days ago, this company was present at the "Expo Bolívar 2018", an important meeting that takes place every year in the city of Guaranda to promote the various economic activities that take place in this thriving sector of the Central Mountain Range of Ecuador.

In this space SolGold participated with its team of professionals who socialized about the mining exploration activities that it seeks to develop in the 6 mining concessions currently operating in that area through its subsidiary company, Valle Rico Resources. It should be noted that this event, which was attended by more than 1,000 people, had the participation of various government authorities and institutions, such as Carlos Pérez, Minister of Energy and Non-Renewable Natural Resources, representatives of colleges and universities and more than 200 exhibitors among which 4 mining companies stand out.

For José López, Coordinator of Corporate Social Responsibility at SolGold, the company is committed to direct and transparent communication with the members of all the communities where it has influence, for this reason: "We are very happy to note that the inhabitants of the province of Bolívar are very interested in knowing information about responsible mining practices since they----end

https://marquitorodriguez.blogspot.com/2018/11/solgold-socializo-su-presencia-en-el.html

Newcrest Tops Up!

Impact: Mildly Positive

SolGold has announced that Newcrest Mining has exercised its top-up rights, to maintain 13.7% ownership in the company (Figure 1), which follows a strategic investment by BHP and a significant increase in the resource at the company’s flagship Cascabel project. This update aligns with our view that Alpala, within the wider Cascabel project, is a world-class deposit with scale potential that separates it from the pack and is receiving ongoing interest from majors. We highlight that we will be hosting a live webinar with Nick Mather, CEO of SolGold, on Wednesday, November 28th .
Highlights:

Largest predators still lurking. Newcrest Mining, Australia’s largest gold miner and block caving expert (Wafi-Golpu & Cadia East – Figure 2), has increased its stake in SolGold by purchasing an additional 6.71M shares pursuant to its top up rights under its original August 2016 share subscription agreement, which were priced at 37.14p (C$0.63/sh).
Competitive tension, which should provide a takeout premium. With two majors on its share register and others likely lurking in the background, we believe the eventual takeout of SolGold is likely to occur at a premium to historic multiples of 0.75x NAV or US$0.08/lb CuEq (Figure 3). A potential transaction is likely to be similar to the recent acquisition of Nevsun by Zijin Mining, as Timok and Alpala are very similar. That transaction was done at 1.25x NAV, implying a value of C$1.85/sh based on our estimates suggesting 185% from the last close of C$0.65/sh.
An exciting 2019 expected for SolGold. Besides the maiden PEA (expected in Q1/19) for Alpala, we are looking forward to ongoing exploration results, particularly from the northwest portions of the deposit, where early results imply the potential for a 2nd porphyry center.
Valuation:
Newcrest top-up highlights ongoing interest in Alpala. Solgold trades at 0.44x NAV, a slight premium to peers at 0.38x. Given the world class nature of the deposit, and the demonstrated interest of multiple majors, we believe we believe a 0.90x NAV multiple applied to our C$1.47 NAVPS estimate would be appropriate implying a value of C$1.32/share. Upcoming catalysts: 1) Ongoing exploration and 2) Maiden PEA (Q1/19).

end

http://www.redcloudks.com/companies/solgold-plc