Member Info for zoros

So far GGP has sold off 70% of the original find @ Havieron (and others).
This guarantees GGP a 'free ride' up to and including the FS (due to the loan of $50m by NCM).
Upon completion of the FS...
"...the Management Committee will meet to consider a Decision to Mine. A unanimous vote by the Management Committee is required to approve a Decision to Mine. If a Decision to Mine is not approved by a unanimous vote, then the party who voted in favour shall have an option to purchase the non-approving party's interest at fair market value...."
Assuming the decision to mine is approved....how does GGP plan to fund its share of the bulk mining?
1. Go to the banks?
2. Dilute shareholders with an equity sale?
3. Agree a smelting royalty with NCM?
4. Sell even more of its remaining 30%?

Any thoughts?
Z

Bamps - thanks for finding time to respond - appreciated and most kind.
I'll modify my ;layperson plan' so that most on here can reflect on it as we get closer and closer. Obviously this will affect just the investors (not the traders). But this is a journey by quite a few loyal fans now and it would simply add to the quality of research ongoing with this BB.
I'll draft an update tomoz, see what you think. Cheers.
Z

Smickster - the post about what is happening down south was not written for people like you. Believe it or not, there are old and new alike who want/need to know anything that may affect their investment.
I will also remind you again - this is NOT old news! Yes the results from the vote down south were a week ago BUT this latest report puts more meat on the bone.

Look - as was mentioned - shares should not be emotional. If they affect one's frame of mind for too long a period - then it might be time to up sticks and move on.
If one has an investment plan with exit routes along the way - then that should be sufficient.

Daily doses of good and bad news should not alter that methodology.

Ecuador is a risk, we all know that. The more research one does around any risk, the more one can justify their position. Like it or lump it....ecuador is definitely a major stumbling block for this effing SP.
The sooner April 11th is behind us the better.
Z

Continuing the theme from Bamps and Hydrogen about the plan @ Havieron, this is my take on it, from a layperson's perspective. If Bamps/Hydrogen could assess it for any 'issues' I would be grateful. We can then all benefit from a common plan to refer to and measure our progress as the months pass by.
In addition the above will feed into the 'dear diary' I promulgate occasionally.

What's the plan, man:

The decline starts the ball rolling towards the top of the main ore body which is approx 420m beneath the surface. The length of this decline will be around 3000m ish. Once they complete the decline/hit the top of the high grade mineralisation, they will do two things:
1. Start extracting the PM's and BM's using stoping methods. This is when income is generated. Sandeep suggested this is the quickest way to extract maximum returns from low volumes of high grade ore. The volume extracted will be sufficient for just one of the two trains @ Telfer (production belts) to accomodate. (<12M tonnes/annum).
2. NCM will then commence stoping down through the crescent towards the breccias where the supposed "lesser grades" reside. Once established, bulk mining will be the preferred option.

The completion of the decline is expected to be Q1/22 in my opinion, but there are wiser persons out there who suggest "first gold poured" will be December 2021.
Not a spelling mistake: 2021! I reserve judgement.

Mass production is expected to continue over many years as a consequence of bulk mining.
IF/as the mine expands - more income is generated - and this is expected to commence around 2024 (Sandeep's words not mine).
Again, IMO - I believe mass production will commence late 2023, not 2024.....assuming they don't hit any problems. NCM are working at breakneck speed and are world leaders when it comes to cutting edge technology.

Z

Smickster - the reference is a little newer than the one you are thinking of. And they expand on its effect nationwide. Perez is marching on the capital this weekend with his green mates buoyed by the results of this regional revolt against mining.
The ecuadorians are a fickle bunch - easily swayed by sentiment inside their own country.
The sentiment towards protecting the environment could capture the hearts and minds of the country if Perez gains a foothold in the corridors of power.
Let's hope this is done and dusted well before April 11th. A month of this sh i te will do nothing to bolster the SP.
Great day today....we need loads of them! Maybe some drill results on Monday eh?

PS: Love the maths update regarding the NPV of Solg....makes for eye watering news! The vultures will be circling after the GE in April....hope for the best and let's bang out of this lame duck so we can enjoy the next 7 years elsewhere rather than having to put up with the bo ll ox on this BB :)
Z

https://www.mining.com/southern-ecuador-bans-large-scale-mining/

Z

2021. 29000m Cascabel resource definition drilling. (Tandayama A / Aguinaga).
Q1/21. Blanca (Cerro Quiroz). Final assay results for holes 1 to 4.
Q1/21. Porvenire holes 5-8 assay results.
11/4/21. Ecuador GE results.
05/21. FNV $50Mn deferred loan due date.
2021. Blanca (Cerro Quiroz). 3000m extended drill programme. (3rd visit to site).
2021. Blanca (Cielito). On hold.
31/3/21. Nick Mather steps down as CEO.
Q2/21. Varela target (Rio Amarillo) 12000m drilling programme commences.
05/21. M D and A and Quarterly financial report.
08/21. M D and A and Quarterly financial report.
Q3/21. Sharug project 3000m drilling commences.
Q3/21. Celen project. 3000m drilling commences.
11/21. M D and A and Quarterly financial report.
Q4/21. PFS.
2021. Helipuerto project. Recommenced reconnaissance work.
2021. Porvenir. Updated drilling programme, 25000m. 112 man camp enlarged.
2021. Chillanes. Ongoing access negotiations continue with local communities.
[Highest Cu results from any Solg project in Ecuador].
2021. Timbara. Continued mapping.
Q4/21. La Hueca. Early reports inconclusive. Further drilling commences.
Q1/22. FS (DFS/BFS).
2024. Renewal of Cadastre lease agreements on various tenements.
2027. Production.

Z

erm....padmaster @ 20:10!!!!
Keep up crewtime......;)
Z

Bugerov - I will raise you:
https://www.youtube.com/watch?v=KXatvzWAzLU&pbjreload=101
Z

So many pointers. Lassonde, Middelkoop, Sprott, morningStar, the bull's are coming......
Z

Afternoon Quades.
IF Solg take this to production alone - I will be the first in the queue to congratulate you for your stalwart belief and loyalty towards them and their ambition.
But secretly....we both know this will never happen, don't we.
So I have a simple question for you, if I may?
I suspect/believe (as you have told us on occasion) that you have been 'involved' in the stock market for 40+ years..yes? I also am led to believe you have done well from it (whatever that means).
I think at some stage you also stated you had some serious money wrapped up in Solg.
Assuming the brokers notes are correct and the delayed programme for production remains, we can expect full maturity of this stock by 2027+.
You have been with Solg for many many years (7+?).....this is therefore not a 'trade' for you, perse. I would hazard a guess...this is not an investment either as I know of no-one who puts serious money into an investment and waits 14+ years for a result.
So why are you an advocate for solo production and investing as such, over this length of time?
For someone who is financially wise....why do you subject yourself to death by a thousand cuts in this stock year after year after year?
Z

Quote from the article:

"...Elsewhere, the big story, which I’m sorry I didn’t have time or space to cover in time, is the disaster (whether temporary or permanent I can’t yet tell) which its CEO Nick Mather seems to have brought upon Solgold. His sin, which I hinted at a long time ago, was his refusal to contemplate any other strategy than to develop Solgold’s , (possibly monster) Alpala resource – all by Solgold’s little self. It never was feasible, if only because investors would not have accorded the value in its shares to enable Solgold to fund exploring its other prospects via reasonably priced equity issues, while waiting such a long time (at least 8 years and possibly more) before Alpala delivers any profit.
As it is, not only was that potential profit questioned a few months ago by whistle-blowing independent researcher Crux (who doubted whether Alpala could ever be profitable at all – unlike the brokers who continued to tout their absurd NPV based ‘targets’, four times higher than the shares are now) but any value has now been deferred even further by Solgold having to start a completely new and cheaper mine plan, with its updated economic analysis (PEA) that was expected any time now, deferred for another year.
So maybe Solg has been knocked down too far by a combination of unfortunate events. But I wouldn’t count on the shares being rescued by any sort of bid in the foreseeable future....

Z

23 close...............
Z

Quady:
"...Nobody in Solgold, will become the new CEO, we need someone with block caving experience..."

Solgold team:
"...Keith’s underground block cave mining experiences will provide SolGold with extensive knowledge and guidance for the development of the Alpala Project...."

Strange that.......

Z

other - how can anyone outside of Solg have any idea when the new CEO will be found, let alone announced.
C'mon, use some common sense eh?
Z

Magic the link for the new tenement is:

https://emits.dmp.wa.gov.au/emits/advert/index.xhtml

Page 2.
Courtesy of Reddirt who flagged it up @ 0829 this am.
Z

Redknight - don't forget to tell those on GGP and ADVFN that you have bought and sold all day long and that you have also seen your wife's bottom, it seems.
Z

Maybe they will report all 4 at the same time??
Z

Lunchmoney = can't find any dates for assays from Porvenir (Carchossa) 5 to 8. Where is your info from?

Franco NSR deferred $50M option now included - thanks
Z

Lunchmoney - thanks for this. However the MD and A says this:

"...Final assays for Holes 3 and 4 are expected during late February/early March..."
Page 16?
Z