Not2sure- agree with what you are saying. I think 1) Bozi makes good points about exceptional market conditions driving the SP to 48p during the first Li boom and 2) we are undervalued, plain and simple.
This is where SOLG's investment in and communication around its ESG credentials will pay dividends. In some ways, going it alone and not having the skeletons that most majors have in their closets might help us win over the mining-sceptic communities.
Morning Quady, I agree with you that reading this morning's RNS adds weight to your point of view around what the future holds for SOLG. However, I think there is probably a middle ground that is worth highlighting:
1. "We have zero evidence of a bid even being thought about." - as far as I am aware we still have Citi on the books to help us defend against a hostile takeover. I would suggest that this shows there is at least *some* evidence that a bid has been, and likely still is a consideration within major circles. We simply don't know either way.
2. I still find it very difficult to envisage a future whereby BHP are happy to own a meagre 13% of the company that will be mining one of the best copper gold discoveries of the past decade.
Net-net, nothing has really changed. The company's stated aim is to go to production, the question mark remains over how that will be funded. All options IMO are still firmly on the table.
Broadly agree Quady. FWIW I am not in the anti-Nick camp and agree with DBW. Like everyone else I was/am frustrated by the PFS debacle and the buck ultimately stops with him, but appreciate that he was able to take us this far.
Not sure if I have the energy for this today Quady, but:
1. BHP, NCM and CGP were not happy with the direction of the company whilst Nick was in charge. Personally I think that 'direction' and 'strategy' are synonymous 2. Now that Nick has been ousted, BHP, NCM and CHP are happy with the direction of the company 3. Therefore, I think it's fair to say that the direction/strategy of the company has changed under our interim CEO Keith Marshall
Morning Dean, my understanding is that as of the RNS dated 16/03/21 we had drilled 7,800m in 70 holes of the planned 12,500m RC programme completed to date. Of this 7,800m, we have reported on assays of 1,350m, leaving 6,450m that had already been drilled by mid-March that we will hopefully be updated on in due course.
Assuming drilling finishes mid-April, allowing 2-3 weeks for assays and another 2-3 weeks at least to model how this impacts the economics of the mine that will be built, I am hoping for/expecting transformational news towards the end of May or early June. At which point lithium prices will have hopefully continued to rise and demand for quality product will be sky high. Hopefully one of the expanded size of the asset or news of a JV will cause this to rerate substantially.
In all seriousness, happy to have added a few back at 22p and looking forward to whatever the future holds here. The inevitable fundraise this year may offer an opportunity to grab a few more depending on how the company goes about filling the coffers.
Senderos - good flag RE Resolute and Ghana. There appears to be little in terms of an explanation from the Ghanaian Minerals Commission the Minister of Lands and Natural Resources as to why their license has been terminated. However, I do wonder whether it has anything to do with this:"Resolute announced in December that it had agreed to sell the gold mine to China’s Chifeng Jilong Gold Mining for $105 million cash."There might be a geopolitical angle here that Ghana are remaining tightlipped on. Expect to see more and more about China's encroachment into Africa and how the West will respond over the coming months/years.Certainly one to keep tabs on.
Let's say Keith Marshall does get the job (and on balance I am 60% sure that he will). Given his experience with Rio in Mongolia, and how complex an operation Alpala will be, do we think he decides to 'go it alone' and raise the capital to build the mine as SOLG under his stewardship, or will he seek to mitigate risk to both the business and his own reputation by partnering with one of his former employers?
I don't know much about the character of Keith Marshall, whether he is the type to want to make amends for the Rio debacle or whether he is more risk averse as a result of that regrettable experience.
Nothing out of turn at all Bozi, I just take CD's posts with a large pinch of salt these days, which is a shame as I think he is one of the more informed and better quality posters on here. It is very clear though when he is invested and when he is not, he is a masterfully subtle ramper/deramper depending on whether he has skin in the game or not.
Whilst the writing has been on the wall for some time now, IRR's corporate presentations show that we are firmly a lithium and gold play, focused in West Africa but with an exciting, first-mover advantage project in Chad, too. The Iron ore asset in Gabon and bauxite/gold assets in Western Australia are no more part of the long term picture.
For a long time the diversified portfolio of assets has been seen as a feather in IRR's cap. The lithium assets offer brilliant exposure to the EV boom, and the gold a nice 'hedge' against economic uncertainty continued central bank economic stimulus.
Personally, I think that the investment case here would be much clearer if the company sold off its proven, world class lithium asset in Ghana (and the untouched lithium licenses in Cote d'Ivoire) and became a pure play gold explorer. The funds from the asset sale could be used to 1) continue to prove up the targets at Zaranou and 2) get properly stuck into Chad (which will require considerable up front drilling costs).
This, accompanied perhaps by the oft-mentioned name change many on here pine for, would make IRR a simpler beast and one easier to comprehend for prospective investors (and perhaps even major partners...).
Extremely pleased with the progress here this year and long may it continue!