Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Pretty sure that was the UT anyway.
Excellent post, thank you for sharing.
I'd suggest that the most likely outcome is the one that our BoD and advisors are aligned behind.
"Today that has been proven wrong."
Nothing of the sort has happened today. It's going to be thoroughly amusing when we sell Cascabel to someone else. I'm sure you'll still try and claim we're going to production.
"A hybrid non-dilutive packing via Jiangxi"
Can you spell out what this actually means, with numbers next to it? Jiangxi aren't in the business of providing non-dilutive funding to the tune of billions to companies they hold a small stake in.
Separately, Quady, your leaps of logic have no bounds. Never has the word 'hence' been so misused.
How we next raise funds here to ensure we have enough money to keep going will be telling.
1. If we do another royalty deal to me that says a sale is some way off and we need to buy ourselves some more time.
2. If we place the 157m shares with a strategic, either a potential buyer or a friendly investor looking for a quick return, we can assume a deal is much closer.
If Jiangxi or anyone else is negotiating a buyout with Solgold, the last thing they will want to do is put a fire under the SP through taking up the 157m shares. The temptation might be there though at this price.
Quady, do you really think that the cash-strapped government of Ecuador IS in a position to be the guarantor of a $1.5bn loan to build a mine? Is there a precedent for this type of agreement?
No one is going to agree to a JV with us where we are the majority partner. Not in a million years.
This all feels quite pie in the sky, BBG.
How can we credibly 'create' $3.2bn of non-dilutive funding? And then get a placing away at 6x current SP? This is batsh*t even by your wild standards.
Who the hell doesn't like Chinese food?
Https://solgold.com.au/solgold-plc-announces-cascabel-investment-protection-agreement/
What confuses me is the $311m figure quoted in yesterday's RNS. The original IPA (shared above) was for $430m and the various calcs done on here had put both our spend and the 'balance due' at different figures to the $311m.
If the Ecuadorian government had agreed to lend us $3.2bn I think we would have risen more than 17% yesterday. This is the figure we or whoever builds Cascabel will be spending. What the RNS yesterday was light on was detail, I.e. timeframes. But we'll get that when the actual CIPA is signed, I imagine.
Fort, that was exactly my reading of it this morning. The optics of signing an agreement worth $3.2bn with a company with around £$10m in the bank wouldn't be great. This is basically as you say, a statement of intent, but it's important because it shows Naboa is onside and willing to give us some rope.
It also signals to a risk averse prospective buyer that 1) mining in Ecuador is very much back and 2) Cascabel is THE project the government really wants to work because of its size. It was a big, public de-risking event on both of those levels.
How, if at all, we raise more cash here will be very telling.
Z, sadly not, was stuck with a client until half 6 in the end. I did tune into the webinar and was fairly non-plussed. My takeaways were to expect more delays before first ore and to not buy any more shares until we've played our hand, which inevitably will involve more equity.
Apols for off topic.
ToS, I disagree - this is the first time we've been given firm assurance that Naboa is onside. Ecuador is open for mining and Cascabel is the jewel in the crown. This is excellent news for us and a long overdue re-rate.
I think once we get the cash monkey off our backs this will re-rate substantially. Yesterday/today's news is the tacit government support we have all desperately been waiting for since Naboa took over. I feel a lot more comfortable following the show of unity between SOLG and Ecuador at PDAC.
It's now a case of securing some short term funding to give us a little more runway to get a deal done or, better still, selling the project off to an actual miner!
Pinched from HH on X/Twitter.
Argonaut Securities a London based broker has published a Speculative BUY note with a 11.6 pence target price.
Liam Twigger (remember him!) is deputy chair of Argonaut.
85% upside from here. Heaven help us if that's the best we can hope for.
Q, perhaps it will focus minds on getting one of those fabled JVs done on one of our many regionals!
Z, of course he's not releasing anything material and non public in the session, but we might get something at 7am which will shape the discussion. Alternatively, he's just in town to talk through the implications of the Newmont news and assuage any concerns.
My sentiment here is similar to yours RE patience and uncertainty! It's been a bumpier road than we both would have hoped but I'm still very positive mid/long term.
MH01 - the regulars on here have told us ad infinitum that Shaun and team have spent the last 6+ months playing 4D chess / planning for every possible scenario, including the one they find themselves in now. I think it unlikely but certainly not implausible. Surely if Newmont can get Telfer and Hav off their books to the most obvious buyer in a way that is quick and painless it's a win for all involved?
Zoros, if I can get out of work in time I will attend and do my best to understand these questions, many of which are top of my list. I haven't heard the latest Sunday Roast. Do you not think it plausible we hear news tomorrow AM?
SM
"The agreement is between Semaica and Solgold.
Hence it's Solgold going forward."
This is just not true. Just as the agreements we've signed with Franco and Osisko aren't dependent on us being the company to actually build the mine for those companies to see returns on their investments.
In typical fashion your head is firmly in the sand and you're ignoring the many facts listed below that run counter to your narrative.