Member Info for zoros

Correct Schlem - it requires further dilution for shareholders as Solg have decided to continue to go it alone, so in their eyes - no JV meaning it's up to us....Solg to find the money.
I expect the PFS to reflect a figure of approx 60-70p on publication. Obviously having risen in the interim due to further 'good news'.
As Steve Todoruk says:
Junior miners/explorers share value only rises on:
Good PEA / MRE's / PFS / buy out material.
Good gold grades (>1g/tonne and Good Cu grades: >0.5%).
[13th May @1318 post].

Bubble - no es lo que sabes, es a quien conoces!
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....This generates an NPV for Alpala of US$3.4bn(down from US$4.2bn previously), using an 8% WACC, $7,000/t long-term copper price and US$1,950/oz long-term gold price. We apply a target multiple of 0.8x to our Alpala NPV, to give a US$2.3bn contribution to our SOTP from SOLG’s 85% stake. We continue toinclude a modest US$75m in further value for SOLG’s other exploration assets across Ecuador, recognising that there could be significant upside to this figure as the scale of potential Resources at Porvenir, in time, begin to take shape. Adjusting for net cash (including placing proceeds), an increased share count, and potential dilution from outstanding warrants/options, this translates to a target price of 80p/share, 174% above the current share price.Further upside to our model could be unlocked throughnear-surface, open pittable mining options ator near the Alpala deposit; hydroelectric power options to reduce power costs; further metallurgical testing to increase the metal recoveries; and electrification of the underground production mobile plant to reduce capital expenditure and operating costsassociated with fuel, emission control and ventilation. Continued exploration work at other targets could also provide significant upside, with Porvenir demonstrating potential to become a large, open-pit porphyry copper project...."

END

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...Based on this information, we adjust our model to a 30Mtpa scenario (from 50Mtpa previously), conservatively keeping pre commissioning capex at H&Pe US$2.94bn. First production is adjusted to 2028E to reflect the time required to consider the optimal path forward, the delay in the PFS and knock-on delay in the DFS and financing. (However, as noted above, the identification of open-pittable material could bring forward first production and generate cash flow to offset the upfront development cost of the underground block cave operation). We also adjust our post commissioning development capex and grade profile to reflect a two-level extraction block cave footprint in the early stages, selectively mining higher grade ore whilst maintaining expansion capabilities down the line. The result is similar, albeit lower, quantities of metal producedper annum whilst mining significantly less materialover a shorter mine-life. Total life-of-mine copper output falls to 8.4Mt of copper equivalent from 13Mt in our previous model, with much of the difference in later years, making less of a dent on NPV, while LoM capex under our new assumptions is US$7.8bn vs US$11.7bn previously. This generates an NPV for Alpala of US$3.4bn(down from US$4.2bn previously), using an 8% WACC, $7,000/t long-term copper price and US$1,950/oz long-term gold price. We apply a target multiple of 0.8x to our Alpala NPV, to give a US$2.3bn contribution to our SOTP from SOLG’s 85% stake. ....

tbc....

...Valuation: target cut to 80p on dilutive fundraise and revised PFS parameters We have adjusted our model in an attempt to more closely reflect the potential outcome of the upcoming PFS. Our NPV for Alpala falls 20% to US$3.4bn, with no change in our assumed upfront capex, lower throughput, modestly lower annual production and a shorter mine life, partially offset by higher grades and lower average unit costs.Our assumed value for SOLG’s ~3,016km2regional exploration portfolio remains a conservative US$75m, albeit the potential for a Maiden Resource to be declared at Porvenir later this year could prompt us to upgrade this materially. The net proceeds from the April 2021 placing boost our Jun’21E net cash balance to US$76m from US$16m, although the share count has also increased by ~10% to 2.3bn shares. The net result is a 24% cut in our fully diluted, SOTP-based target to 80p/sh, still offering 174% upside......

tbc.....

.....Beyond Alpala, the most advanced exploration target remains Porvenirin Southern Ecuador, where final assays have now been received on anadditionalthree diamond drill holes,bringing the total to seven.The results continue to show Porvenir’s potential to become a large, open-pit porphyry copper project,with some of thebest intersections todate. Hole 5 showed a total of 528m at 0.35% CuEq from surface, including 102m at 0.66% CuEq starting from 78m. Hole 6showed a total of 818m at 0.41% CuEqfrom 46m, including 138m at 0.74% CuEq starting from 540m. Hole 7 returned a stellar570m at 0.75% CuEq from 288m, including 204m at 1.23% CuEq starting from 316m. Highly encouraging visible copper-sulphide mineralisation has been encountered in Holes 8-11.Drilling for holes 12-14 is currently underway, with three drill rigs on site.SOLGintends to use a portion of thefunds raisedto better understand the geology and structureat Porvenir.In addition, SOLG has drill programmes planned for 2021 at Blanca, Sharugand Rio Amarillo, as well as field work at Helipuerto, adjacent to Solaris Resources’ Warintza deposit.....

tbc......................

.......The revised PFS should, therefore,achievesimilar annual metalproduction whilst mining less material, resultingin operating cost savings. The crushing, processing and waste storage requirements are expected to be reduced accordingly, reducing execution risk and decreasingcapexversus what would have been deliveredby the original PFSplan, although the initialcapex budget may not necessarily be lower than that communicated in the 2019 PEA, in our view.The Company is also investigating near-surface, open-pittable mining options at and near theAlpala deposit;hydroelectric power options to reduce power costs;further metallurgical testing to increase the metalrecoveries; andelectrification of the mobile underground equipmentto reducecapex and opexassociated with fuel, emission control and ventilation...

tbc...................

"...SolGold (“SOLG”) announced on 28thApril that it has raised a cumulative ~£53.1m(~US$73.8m) in new equitythrough a concurrent Placing and Retail offer. A total of ~208m new shareswere issued at a price of GBp 25.5/sh, a discount of ~11% to the closing shareprice on 27thApril. SOLG intends to use the proceeds for a minimum of 40,000mof diamond core drilling;related technical services and staff expenses;and CSR initiatives related to the Company's Regional Portfolio. Excess cash will be used for the Definitive Feasibility Study (DFS)and workstreams related to the Alpala Project.We update our model to reflect the updated share count and Pre-feasibilty Study (PFS)optimisation news flow to arrive at an updated target price of GBp80/sh..."

tbc.....

Couldn't agree more. He had to restrain himself from telling us more...but the next set of results are going to blow the bloody doors off!
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https://shareprices.com/sectors/mining
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Hi Jerry. I may have missed something here? I didn't mention 'within' or 'of'...??
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Redirons - it is my understanding that the PFS will 'prove' up the latest MRE(Indicated). IE:
Inferred becomes Indicated becomes proven. Even then, there is a precautionary note attached to all PFS's in that they only afford about a 20 - 30% accuracy wrt figures. Careful due dilligence is required by an independent company.
The FS (or bankable study) is the "Go/No Go" stage and affords accuracy of 10 -15%.

Given the last MRE before the PFS is only a matter of weeks, I suspect that what we receive in the last MRE(indicated) will be the source for all calculations in the PFS?
Best
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Mercedesman - bang on!
I would be grateful/happy/pleased with the next MRE(indicated) showing around 7 - 9Moz AUEq.
Just from Hav.
Looking back, about 30 years from now, yes I would accept that 50Moz 'had' been mined from Hav during that time.
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Merlin - that will be the MRE's coming within the next 6 weeks ish. Everything else is guessing.

As a 'novice' (we all were once), I would exercise caution when you hear the 'experts' on here mentioning silly figures for the resource. Slowly slowly catcha monkey...not only keeps you planted firmly on the ground but leaves little room for disappointment if the final figures are much much lower.

I so wish the experts and some LTH's wouldn't bandy about silly astronomical figures...they are setting everyone up for a fall........

Stay grounded.
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@BDMinefinder: Why are Solg buying more shares in CGP?
Do you see prospective bidders for CGP on the horizon?
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Lunchmoney - correct. I apologise, roadmap adjusted. Thanks for keeping me 'true'!
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Significant new observations:
Tandayama assays long overdue?
Tinkimints finding - "world class".
Sharug and Celen - drilling raised from 3Km to 7Km at each site.
Options taken up @ CGP.
Confirmed $50m NSR option from FNV not taken up.

2021. 29000m Cascabel resource definition drilling. (Tandayama A / Aguinaga).
03/21. Awaiting Tandayama drill results. (Drilling between 09/20 and 12/20).
2021. Porvenir. Updated drilling programme, 25000m. 112 man camp enlarged.
29/3/21. Blanca (Cerro Quiroz). Assay results, holes 1 - 4. Only hole 4 reported.
2021. Blanca (Cerro Quiroz). 3000m extended drill programme. (3rd visit to site).
29/3/21. Porvenir (Cacharposa) holes 5-7 assay results. Holes 8 – 11 assays pending.
29/3/21. Helipuerto project. New Tinkimints prospect (world class intersection of
922m @ 0.94% Cu Eq from surface) .
24/05/21. Maiden speech by President Lasso of Ecuador.
04/21 Option in shares in CGP taken up: 500,000 (@£1m).
05/21. FNV $50Mn not taken up. Equity placing of 200m shares instead (£53m).
2021. Blanca (Cielito). Assay results holes 1, 2 and 4 completed.
Q2/21. Porvenir MRE.
08/21. M D and A and Quarterly financial report.
Q3/21. Sharug project 7000m drilling commences. (Water licence received 03/21).
Q3/21. Celen project. 7000m drilling commences.
11/21. M D and A and Quarterly financial report.
Q4/21. Alpala PFS.
2021. Chillanes. Ongoing access negotiations continue with local communities.
[Highest Cu results from any Solg project in Ecuador].
2021. Timbara. Continued mapping and sampling.
Q4/21. La Hueca. Early reports inconclusive. Further drilling commences.
Q4/21. Varela (Rio Amarillo) 12km drilling programme starts. (Access roads under
construction).
Q1/22. FS (DFS/BFS). [On completion of FS and decision to mine - $4m NSR to be paid to
Santa Barbara Resources].
2022. Sinking of ventilation shafts @ Alpala. (3yr completion period).
2024. Renewal of Cadastre lease agreements on various tenements.
2028. Alpala first production from Block Cave mining.

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Assuming we are talking ONLY about Hav, the following triggers will result in:
MRE(2)(indicated)(including NCresc and NBrec) (@12Moz): 36p.
PFS: 45p -55p.
Decision to mine (@F.S.): 60 - 70p
Decision not to mine: 10p!
Decision to sell Hav to NCM ('bid')(@FS): £1.30 - £1.40 (@ 12Moz / PoG: $2000 / AISC: $500)(no further dilution).
Full production: £1+

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Peter - 121 days 14 hours and 2 minutes to be exact.
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Colin -
https://ggphelp.co.uk/dates/
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Schlem - agreed. As Steve Todoruk stated, junior explorers ignite only on the following:
Good PEA / MRE's / PFS / buy out material.
Good gold grades above 1g/t. Excellent above 2g/t.
Copper exceptional grades @ 1% and above. Viable at around 0.5%. Uneconomic <0.3%.

What's next:
2021. 29000m Cascabel resource definition drilling. (Tandayama A / Aguinaga).
03/21. Awaiting Tandayama drill results. (Drilling between 09/20 and 12/20).
2021. Porvenir. Updated drilling programme, 25000m. 112 man camp enlarged.
29/3/21. Blanca (Cerro Quiroz). Assay results, holes 1 - 4. Only hole 4 reported.
2021. Blanca (Cerro Quiroz). 3000m extended drill programme. (3rd visit to site).
29/3/21. Porvenir (Cacharposa) holes 5-7 assay results. Holes 8 – 11 assays pending.
29/3/21. Helipuerto project. New Tinkimints prospect.
24/05/21. Maiden speech by new President of Ecuador.
05/21. FNV $50Mn deferred loan due date.
05/21. M D and A and Quarterly financial report.
2021. Blanca (Cielito). Assay results holes 1, 2 and 4 completed.
Q2/21. Porvenir MRE.
08/21. M D and A and Quarterly financial report.
Q3/21. Sharug project 3000m drilling commences. (Water licence received 03/21).
Q3/21. Celen project. 3000m drilling commences.
11/21. M D and A and Quarterly financial report.
Q4/21. Alpala PFS.
2021. Chillanes. Ongoing access negotiations continue with local communities.
[Highest Cu results from any Solg project in Ecuador].
2021. Timbara. Continued mapping and sampling.
Q4/21. La Hueca. Early reports inconclusive. Further drilling commences.
Q4/21. Varela (Rio Amarillo) 12km drilling programme starts. (Possibly Q1/22).
Q1/22. FS (DFS/BFS).
2022. Sinking of ventilation shafts @ Alpala. (3yr completion period).
2024. Renewal of Cadastre lease agreements on various tenements.
2028. Alpala first production from Block Cave mining.

Z