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It might be more sensible to not believe what WI actually says but to rather try to work out why he's saying it, and act accordingly. Worked in March. The devil looks after his own.
I don't believe anything these days. We know old Warren is a bit of a shape shifter, blurting out by "accident" what he did in March and now saying the opposite. He certainly knows how to create selling opportunities and buying opportunities if you know what I mean. Agree that we are definitely at a historic low point in many respects, but not completely convinced that there are no smoke and mirrors in place here. I'm always with Mr Micawber on this one - something is bound to turn up.
CITY WHISPERS: Miner SolGold is target for rich seam of rumour - with one of these involving mining behemoth BHP
There are some takeover rumours that are practically evergreen, with chatter resurfacing whenever the market goes a bit quiet.
One of these involves mining behemoth BHP and retail investor favourite SolGold, which is working on a copper and gold mine in Ecuador.
BHP first invested in SolGold in 2018 and has more than doubled its initial stake, making it one of its biggest shareholders.
The City rumour mill reckons a takeover of the South American miner could emerge later this year – though this is the same mill that said it would happen in 2021 and 2022.
But some senior industry bigwigs reckon this is wide of the mark, noting it will take years before SolGold gets its prize project off the ground. The long wait could be enough to put off any possible buyer.
One thing is certain. As long as BHP sits on its investment, the speculation will keep churning.
- Daliy Mail Feb 23
Share price forecast in USD
The 4 analysts offering 12 month price targets for SolGold plc have a median target of 52.97, with a high estimate of
84.13 and a low estimate of 39.73. The median estimate represents a 232.71% increase from the last price of 15.92.
-FT
Forward looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward looking information, including but not limited to: transaction risks; general business, economic, competitive, political and social uncertainties; future prices of mineral prices; accidents, labour disputes and shortages and other risks of the mining industry. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, risks relating to the ability of exploration activities (including assay results) to accurately predict mineralization; errors in management's geological modelling and/or mine development plan; capital and operating costs varying significantly from estimates; the preliminary nature of visual assessments; delays in obtaining or failures to obtain required governmental, environmental or other required approvals; uncertainties relating to the availability and costs of financing needed in the future; changes in equity markets; inflation; the global economic climate; fluctuations in commodity prices; the ability of the Company to complete further exploration activities, including drilling; delays in the development of projects; environmental risks; community and non-governmental actions; other risks involved in the mineral exploration and development industry; the ability of the Company to retain its key management employees and skilled and experienced personnel; and those risks set out in the Company's public documents filed on SEDAR at www.sedar.com. Accordingly, readers should not place undue reliance on forward looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
An opportunity in Ecuador
The most under-explored and prospective section of the Andean Copper Belt, the world’s biggest and richest area for copper production. SolGold has first mover advantage and is the largest concession holder throughout Ecuador.
t1
A Tier 1 project
Long-life and expandable project with 26-year initial mine life
First decile costs and negative AISC of -$1.38/lb Cu (first 5 years post ramp-up)
Post Tax US$2.9bn NPV and 19.3% IRR (at US$3.60 /lb Cu)
Clear roadmap to becoming one of the world’s first net zero copper mines to be built
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Potential for
Troll-proof facts:
Highlights of the period include:
• The Company ended the quarter with strong liquidity, a cash balance of $48.1M, plus $25.4M shares held, which can be sold at the election of a wholly owned subsidiary.
• SolGold successfully merged with Cornerstone Capital Resources Inc. (formerly TSX: CGP), which has led to SolGold securing 100% ownership of the Cascabel project, along with additional exploration properties.
• With the ongoing restructuring efforts described below, management expects current cash balances to last beyond June 2024.
• The Company's management has conducted a thorough assessment of its operations, with a focus on streamlining the organization to increase effectiveness and manage costs. Consequently, the Company has restructured its offices in Brisbane, Australia, London, United Kingdom, and Quito, Ecuador, to generate significant cost reductions while enhancing operational efficiency. As part of the restructuring, Mr. Scott Caldwell, who previously served as Interim CEO, has been appointed as the Company's Chief Executive Officer and President of SolGold Ecuador. Additionally, the Company announced the appointment of Mr. Chris Stackhouse as its Chief Financial Officer, effective 17 April 2023.
• Management is internally evaluating a phased approach to the development of Cascabel with the intent to reduce upfront capital and shorten the development schedule.
Trool-proof facts:
SOLOMON GOLD plc, is a copper and gold specialist with exploration tenements in Solomon Islands and Australia. Their strategy; to prove world class deposits by exploring sites near to some of the worlds leading gold mines. Click here to find out more about the company.
Solomon Gold carries a diverse portfolio of higher risk high reward exploration projects in Solomon Islands and lower risk projects which are more advanced towards resource definition in Queensland, where exploration costs are approximately one third of that in Melanesia. Solomon Gold's projects include Guadalcanal and Fauro (Solomon Islands) and Rannes and Mt Perry (Queensland, Australia).
And go on, report my post. happy to get banned along with you.
Remember what I also said in that post - that your parents, especially your dad, would be ashamed if they knew this is how you've ended up spending your days.
Oh needalife... I get accused about telling porky pies about a tiny £1200 trade I did with a £33 profit yet here you are telling investment whoppers that would sink a battleship.
I think I speak for all-on here when I say no one believes you've ever made a profit in your life, on Solg or any other share. You are and out and out loser in every sense of the word and in everything you've ever tried. That's what you are here, a crusty little scab on this board, bitter, angry, with unstoppable rage and fury, lashing out 24/7.
Have you ever wondered how different your life might have been like if anyone had ever loved you?
Thanks Sid200 looks like I and everyone will have to wait to see if anyone - including the outside consultants - can map a way forward that involves building a mine but doesn't involve financial disaster. They're the experts. Will be interesting to see what they come up with.
Got it
if they censor part of matt han**** on here what do they do with s****horpe?
dinnermoney, some us are still living in 2020.
i'm at home getting 80% of my wages, watching tiger king on netflix, cheering on captain tom, baking banana bread, clapping the nurses while they do dance routines and stop me seeing my dying relatives, keeping fit with joe wicks, protecting the nhs, staying indoors, leaving my shopping on my doorstep for 72 hours, grassing on my neighbours, hissing at people to wear a mask, believing matt han**** and his sidekicks, and telling everyone that a bid for solg is "imminent".
I genuinely didn't see a single post that convinced me that a mine is not only not on the cards but not financially feasible. So it is "clear" unless someone out there can come up a tiny bit of evidence that a mine is on the cards and a viable option.
I asked a genuine question, but didn't get a direct answer because no one has an answer, including Scott Caldwell.
So why on earth are we sleepwalking towards this option - unless people are just so sick and tired of waiting for a bid that they are prepared to believe anything.
I honestly thought I was missing something, that everyone had access to information I hadn't seen, but I'm more worried now than before that if we don't get a bid we are going to do something very, very stupid and costly.
"Ideally we need a guarantor, maybe the Ecuador government to finance this on loans which are staged."
You are well and truly through the looking glass here Quady.
What would come first - paying back the loans, greasing the palms of everyone involved, fending off the constant threat of nationalisation under a new government... or us getting some dividends 15 years from now?
If we are really in a position to go cap in hand to the Ecuador government then we never deserved a shot at this in the first place.
Thanks to everyone who posted - it is clear that not only is a mine not really on the table, if it were it would be 100% disastrous and completely unfeasible and would wreck us financially, costing our independence and diluting current shareholders out of existence.
Annoying that Scott Caldwell even mentioned it - distraction, straw man, or smokescreen or whatever he meant it as.
With all the discussion of it as if it's a reality (thank you Scott Caldwell) I thought I might be missing something. I'm tired of waiting for a bid too but we just can't replace one hope with a far more unlikely one.
DBW I am genuinely willing to look at a viable mining route case. I'm just shocked that there's absolutely nothing there.
Back to waiting for the Strategic Review. Ok.
Anyone out there have the foggiest idea how we would get from here to dumping the first tonne of ore into a truck without financial disaster? What are the steps? Other miners have clearly done it but no one at Solg can even envisage it or lay out the basic route? How can we possibly be even contemplating it when no one has a clue how we would even start?
Sketch the scenario for me to help me see how this would result in that first tonne of ore in that truck. I know we have cash but I'm genuinely curious