Member Info for ToS1963

Not sure the people we will be hoping to provide the financial backing will accept “MRE? Well no..... PFS..... no again, but we’ve got some lovely shiny samples in this hut if you would like to have a look....”
It’s premier league mining not the Klondike.

Wednesday.....

The resource at the Alpala deposit contains a high-grade core which will be targeted to facilitate early cashflows and an accelerated payback of initial capital. SolGold is currently progressing its Pre-Feasibility Study.

Friday.....

With the extra work required, the publication of a PFS is not expected until late 2021. SolGold will update the market in due course on progress of the PFS.

· to undertake a thorough re-assessment of all potential near-surface mining options at the Alpala Deposit, and
· to investigate the resource potential at satellite targets on the Cascabel concession, including Tandayama-America, Aguinaga and Moran.

What changed in 2 days? That, to me, looks amateurish. Someone’s got to go for this massive screw up.

Porvenireal... my last reply to you was flippant, I apologise, but I’m angry.

to undertake a thorough re-assessment of all potential near-surface mining options at the Alpala Deposit, and

· to investigate the resource potential at satellite targets on the Cascabel concession, including Tandayama-America, Aguinaga and Moran.

Neither of these statements confirms the presence of near surface mineralisation. They suggest more drilling. A multi year campaign failed to find it first time around, so I doubt there’s any there. But as I said to DBW, I hope for all our sakes I am wrong.

Porvenireal.... no, never thought to do that. Jeez. DBW.... thanks and agree. Hope you’re right. GL. Wasn’t bickering as such.

Those of us around long enough to remember the great days of the Alpala drilling campaign will recall how pleased we were with the results, caveated by how deep it was, and that it meant that far from ideal block cave was the likely outcome. We, and the markets, accepted that. Back then, we were all hoping and praying for any drill results to show near surface mineralisation which would make mine design far more economic, but drill after drill, it wasn’t to be. Now we are being led to believe we have suddenly stumbled upon some, yet not released this to the markets? I am calling bs on that. And so does the market. Will happily eat humble pie if and when the PFS comes out - if it ever does - or further assays prove me wrong. In the meantime, I think it’s utter tosh.

DBW. Where exactly is this “more ore near the surface”, which RNS identified it, and how was it explained that we missed it all in a multi year drilling campaign prior to now?

Yes, I mentioned this risk early on this morning.

Once the mining concession has been granted, in large and medium-scale mining, the concessionaire is subject to the following phases and terms:

up to four years of initial exploration;
up to four years of advanced exploration; and
up to two years of economic evaluation of the deposit, which can be extended for an additional two-year period.
During the final phase, the concessionaire must apply for the commencement of the exploitation phase of the project. Within six months of beginning the exploitation phase, the concessionaire, in the large-scale mining category, must sign a mining exploitation contract with the Ecuadorian government, although negotiations may begin during the economic evaluation phase.

Lafitte.... good point re the FN due diligence. Hope remains.

Don’t care how deep the stuff is. Me and a few mates with shovels would have been pulling it up by now.

rcgl2.... that’s the hope here, and I’m clinging to it. I must say though, if it were true, I would have expected any decent board to have had 2 things included in today’s RNS. 1. Details of the nearer surface mineralisation. 2. An updated project plan included in the updated presentation. In the absence of these, the more rational part of my brain tells me it just more waffle and misdirection. They don’t know what they’re doing. It’s that simple. But hey ho. The salaries continue in the meantime. By the way, will NM be taking a pay cut when he steps aside?

Solgold excellent explorer, discovered at least one Tier 1 in under exploited country. Over reached ambition wise, taking on risks and attempting something they were under qualified to achieve. We’re warned by major and small shareholders alike it was unwise, unwanted and unnecessary. Continued anyway. Screwed it up. Continue to draw massive salaries at expense of said shareholders. Obfuscated, delayed, excuse after excuse, lost all credibility. Made low value take out all but inevitable.

E.T. Yes, BHP will be rubbing their hands in glee at that RNS, but with no representation they can’t legally have influenced it.

I don’t want inference in an RNS. Nor does the market.

Ok Quady, I’ll bite. Where’s the updated project plan in today’s presentation which shows this new timeline, with the associated slippage to the PFS milestone, but earlier delivery to production? They removed all mention of it from the website. Why?

Which RNS made clear we had economically viable near surface mineralisation near Alpala? It might have been hinted at, but I’ve not seen anything concrete. And if there was anything, why was it not detailed either prior to, or ideally alongside today’s news of PFS delay, thereby mitigating the damage? I don’t believe we drilled for years and tripped over tonnes of copper and gold on the ground without seeing it. Smoke and mirrors, and ongoing high salaries. Disgrace.

Quady my anger has got absolutely nothing to do with whether or not a bid is coming. Nor have virtually any of the others posts on here suggested that. Almost every poster has made clear why they are angry. For heavens sake, even your rose tinted view has just been kicked down the road again. Surely to heavens you must see that?

Colonel... they’ve started taking down previous presentations in the hope it stops people tracking (lack of) progress, or seeing how they continually fail to meet deadlines they set themselves.

JJ..... always respect your input on here, and I hear what you’re saying Hope you’re correct. But the communications side of this has been an absolute debacle, and continues to be so. It’s crippling us.

Tiger... very true. The very worst of AIM behaviours very evident here.

So we are now saying, we were the top explorer in Ecuador, drilled enough holes in an around Alpala to makes Swiss cheese out of the mountainsides, yet completely missed loads of stuff near the surface? And now we’re about to become Ecuadors top mining major. FFS.