Member Info for smickster

That's so true and leave solg to concentrate on the regional 100% owned tenements leaving the kids to throw their toys out the pram lol

Mather,

The jv is not a largely accepted by most as Nick has said it won't happen and most are looking for a quickish sale(although not all).
A jv would prove bhp are on side for the time being and leave cgp in precarious position with all other parties waiting to see how it pans out with a sale to ncm my likely.
I'm not sure what other problems could arise out of this situation ie Franco funds and what would the jv look like but I believe nothing is off the table.

Max surely it was cgp throwing away 11 tablets?

Hello Optimus

Cgp repay the costs upto dfs through their share of profits once alpala starts producing, however they must give their share of capex when and as needed to build the mine.
So if solg time lines are to be believed they will need to start paying chunks of the estimated $400m this time next year which isn't that far away and about the time it takes ton find a good French translator.

Which leads us back to ncm and do they have the finance to take over cgp and fund their share of capex at alpala and even if they could would the money be better spent investing directly in solg with the other potential tier 1 discoveries on the horizon.

You would think so but the fact they have thrown the solg offer back in our faces would lead me to believe they have something up their sleeve else they are going to look pretty foolish.

“Earn-in Agreement” means the Cascabel earn-in agreement between SolGold, Cornerstone, CESA and ENSA dated July 2012, as amended by a term sheet between SolGold, Cornerstone CESA and ENSA dated February 24, 2014."

Section 7.2 of the Term Sheet Agreement 24 Feb 2014 (available on SEDAR) though sadly not the original 2012 document, offers detail on "Transfer of Interests";

From the date of this Agreement until the effective date of terminaton of this Agreement, Cornerstone and ENSA may only Assign an interest (whether legal or beneficial) in the whole or part of the Tenement or any Interest of ENSA, or any interest of Cornerstone in ENSA or CESA or issue any securities (or rights of be issued securities) in ENSA or CESA (except the issuance of additional shares of CESA to Cornerstone in respect of the capitalisation of shareholder loans of Cornerstone or for Cornerstone to provide equity funding to CESA) if;

(a) SOLG approves the proposed assigneee or recipient (such approval not to be unreasinably withheld); and

(b) the third party assignee or recipient has entered into an assignment and assumption agreement pursuant to which such assignee or recipient is bound by the obligations of this agreement and Earn-in Agreement as amended by this Agreement .

Maybe Schlemiel but trying to get a foot in the door in Ecuador while cgp are tearing down protected forests not the greatest move?
I'd stick with a responsible miner imo.
Of course of we want to look at majors none worse than Barrick.

Maybe Bhp should keep their distance from cgp?
Just saying

I doubt it Phattrader as cgp are in court on Monday for tearing down a protected forest in Ecuador .

Tipsa

Blanca nieves was split recently into two after the 5km area was challenged by cgp and possibly started the souring of the relationship.
Part is in ensa with other in carnegie resources.

Bang on richy and no doubt some truth in the ensa funding issue otherwise I'm sure cgp would have a queue of companies willing to fund them.
Would it be a bit rude to call cgp Artisan miners?
They sure like act like them

Time to roll up the sleeves Nick

Correct Durham, Nick Mather a man of his word backed up with actions albeit a little late at times.
All the way to production we go.

£17+ major in the making.

Ooops

Remember

Cornerstone may not use its interest in ENSA directly or indirectly to secure debt funding without SolGold's consent and SolGold holds a pre-emptive right and a right to approve or disapprove of any dealings of Cornerstone in its direct or indirect interest in ENSA

Your move cgp let's see what you got???

Quady

Would the Franco deal give a valuation to alpala?
They value it and 3billion as it stands so surely anything under that can be defended?

Ship

They haven't formally put it forward yet.
Hot air at the moment like lots of Irwins chatter special funds, fund this ourselves and egm meetings.
Big dude is more like a little yapping mut