Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
Https://ax.legal/2023/03/21/ecuador-mining-2023-country-update/
https://www.bloomberg.com/news/articles/2023-05-19/ecuador-presidential-candidate-says-he-d-honor-legitimate-debt
7 weeks and counting.
Z
Of course you did RK, don't forget your wife's purchase too.
Back to reality:
There is no denying this resource is one of the best in the world top ten over the last 20+ years. I see atleast two MAJOR barriers that need to be overcome for a prospective buyer (because there is no way on earth that Solg can start mining @ Cascabel anytime soon least of all in 6 months time (pmsl)).
1st: The resource is an awkward shape and it requires considerable enginering expertise to mine it efficiently. This means it is going to be expensive to resolve.
2nd: The new government sitting in the wings could delay/cancel all that was previously agreed between Lasso and the mining fraternity.
Who in their right mind would act now to buy out ENSA atleast until the new government show positive intent to mine and then the new owner having to front up billions to mine the resource?
This is going to be a very slow burner for countless months to run.......................
[Our only hope is if the chinese are so embedded (and busy in the background) in the Ecuadorian government (new and old), that they can call in favours allowing them to crack on with Alpala].
Can't see anything happening this side of 2023.
Z
Sean-for the 'tape', I have always appreciated your posts but I am at a loss to understand your 'liking' for SLUG.
On ADVFN - you often 'big him up':
"...We've had our differences down the years Slug but to be honest I can't point to anyone who has been more right in their predictions regarding SOLG since 2016. If you are right we will both be soon parting ways, and this company will be sold, but it will always be an absolute crime that you were exiled to here while Quady was allowed to repeat endlessly his "going into production" and "strategic review" crap over and over and over on the other channel while you got banned.
I can't think of anyone I'd rather have a pint with mate, I mean that...."
But on here you complain about him.
Confused.com.
Z
Nice update - thank you GGP.
Decline making excellent progress:
https://www.ggpchat.co.uk/viewtopic.php?t=479
[Thank you RA].
Roadmap:
https://www.ggpchat.co.uk/viewtopic.php?t=564
Half the year gone.
For some, it's been apparent that to date, it has been very very frustrating.....so near yet so far. Most LTH'rs have come to accept the time line knowing the light at the end of the tunnel is getting brighter as the gold piles up.
Those very same LTH'rs also understand that RNS's like this have never and will never shift the SP. It should be common knowledge by now that only certain catalysts can/will do that and for us in this particular instance it will most probably be:
1. Next MRE(2) from the (new) mine manager.
2. DFS.
3. DTM.
[A technical change in the SP will of course take effect when we list on the ASX] .
Bernard Shaw once said:
Two things define you - Your patience when you have nothing and your attitude when you have everything.
Z
Signed up and questions posed.
Meanwhile, back at the ranch - thanks DBW for that find, interesting reading about the background to mining in Ecuador. I don’t think the company being interviewed would be interested in Solgold because it says it’s after a SME without a much lower capex and also one which is “easy to mine”…….. aren’t we all!!
Z
Https://www.lse.co.uk/ShareBrokerTips.html?shareprice=GGP&share=greatland
Where's that then Stumpy?
Z
Hi Joubert - I think brokers have a role. Take from their research notes what you want. I would suggest they know more than the average PI, especially when they are one of the company's brokers. Sprott have always been conservative (currently 15p) and together with the others. added to one's own DD, forms a picture by which you place your bets.
Don't dismiss them entirely.
Moving on.....
IF....IF we get another MRE before the DTM, it will probably riase the 6.5MozAuEq to around 8MozAuEq. Shortly thereafter we will start mining. We may not get another MRE(2) from Newmont/GGP.
This then is what the MM's will base the SP on until we generate FCF. and thus the SP will start its inevitable rise.
Consequently - I like Panama's 'projection'.
Z
Good one MH01. Everyonesawinner - I admire your optimism but even with a 20Moz find, the market doesn't build in an increase in the SP to reflect that - overnight. It will (a) take years to declare the 20Moz and even longer to reflect that in the SP.
GGP will be a different beast by then (if it still exists in its present form).
Mentioning SP's above 30p is irresponsible for the foreseeable future, I would suggest.
Let's keep the lid on this and sit it out (conservatively).
Best wishes
Z