Member Info for zoros

Err that's what I said?

Miagi, don't be so hard on CD, c'mon. Technically he is correct is he not?
Solg debt fund CGP through to the FS upon which they will owe $52m.
Yes this is paid back through royalties post production but it is still "owed"...
And of course the 'piece de resistance' is that CGP then have to decide if they wish to contribute their 15% of develpment costs (est $3Bn and counting) towards building the little beauty. OUCH!

ATG: I think you have something there, methinks. NM sees Fortescue Mining (FMG(ASX)) as his shining light. He thinks he could be another "Twiggy" but in Ecuador.
Good luck to him if that is his lifes desire but please Nick, do it properly...JV with the right partner and don't forget the PI's who helped you along the way!
Z

KB007, I seem to recall many eons ago that you had about 4.8 mil of these suckers stashed in your bedside drawer!
I guess the SP makes you a millionaire (on paper) by now, eh?
Big congrats, it's paying off.
Respect.
Z

oh...oh

Evening Quady - well a lot quieter than when that hacker was here, that's for sure!
I'm with my pals tonight - well the dog actually, cos wifey is out - can't tell you where, in case you report me to the lockdown police! but it rhymes with....ondon!
So I'm playing catch up on here with a glass of Chateau Tap from a straw...heh...heh.
Over covid, I have tried to keep the business going and with luck we should succeed. It's a problem running back and fore to ******** (can't tell you that either in case you report me to Interpol but it rhymes with taly!).
Someone bought me a kaleidascope many years ago, I thought it was a telescope......space has never been the same again!
Enjoy your gazing.......and make sure you buy some quality bandwidth on the hubble telescope with your earnings here, eh?
Z

Samosul1994
A while back (about 2 months ago) 250 posters on here (don't know how many there are in total) declared their holdings. Of that 250, 175 had in excess of 1 million shares. The highest (180million) has moved on, the next highest (30 million) is still here, so too the other big hitters.
The LTH's of course, bought large number of shares for peanuts a while back. They are the 'faithful'!
For every 1p this share rises, the 'millionaires' increase their holding by £10,000 / million shares.
Enjoy the ride.
Z

Quady - good evening to you. Are the skies clear? R U astronoming this evening?
Shall we meet half way and agree on the following:
NM quote "We are transitioning from explorer to explorer AND developer."

I take this to mean (as I always have from the beginning) -
Z quote "we started out as an explorer, but I didn't realise this baby was so effing big, yes BIG as in mammary sized BIG. This mumma is so fecking big that I decided to take it all the way to production and so I am calling myself a 'developer', yes...you know. like in films after you've taken the money shot! But I need lots and lots of drinking vouchers to make it happen, so I got into bed with ******* and bisto, where's the money, eh? Where?
So now I've had another thunk and today I am announcing that we are also an explorer as well as a developer 'cos I've found Porvenir....
So I am going to sell Alpala as an explorer....and...er...develop Porvenir and Rio and La Hueca and....and I'll do it all before I die too. Erm....hang on...no....I am going to JV @ Cascabel and then erm.....sell...no develop Porvenir and become the next Fortescue.......before I die.
Yes..got it"
Time ladies and gentlemen, time!
Z

Sorry, is this a lock in???
Firstly KB007's profile has been hacked and the hacker is babbling about some nutter in the whitehouse??? WTF?
Then ATG is babbling into his beer???
Lockdown advises last orders @ 10pm, so I guess everyone's downing their beers in one!!!
Z

Ha! You beat me to it Schlem ;)
Z

Shock and Awe (ore)....from NM @ Diggers and Dealers today. Many thanks to Pob@CGP:

https://www.youtube.com/watch?v=Wn7SCm_S7io

"Focused on whole country - not just 1 project - with rather dominant position. "
"Healthy MCap now but does not match the potential value of the project pipeline. Broker price targets as many multiples of current price."

"Compelting PFS - nearing completion. DFS - towards end of calender year 2021"
"6 rigs at Alpala"
"Made a new exciting massive discovery at Porvenir, endorses blueprint developed from Alpala."

"We think a great number of of these 14 will eventually turn into Tier 1 resources." "Porvenir so far and more to come".
"Worries about Ecuador are fading"
We are transitioning from explorer to explorer AND developer.
"You will see announcements in next couple of months concerning board and management"

"banker's dream - conditional financing term sheets underway for $3bn conditional on feasibility permitting and fiscal terms"

"Alpala once running will be 4% of GDP"of Ecuador

"Estimate Cornerstone will owe $52m after feasibility study"
Explicit in saying "Cornerstone will not be able to use its equity in ENSA as security"

"Hoping to come up with 5 or 6 projects we want to be drilling on."

"We will do more Porvenirs over time"

Interestsing that the priority project slide has a number now marked in yellow though not mentioned why! (Rio Amarillo, Porvenir, Celen, Sharug and Coangos). La Heuca is not so maybe not so positive there?

"Porvenir - one of our greatest moments and now anxiously awaiting results from 2nd drill" "easy to get excited with these drill cores"
"Rio Amarillo - sleeping giant"
"Celen very excited by this and getting drill permits for that"
"Sharug also very excited by this too and getting drill permits as well"

A very enthusiastic NM. A changed man who has his mojo back. If PI's can stay the distance over say the next 4 or 5 years, there will be some very wealthy people here!

Great Vid.
Z

Miagi@0939
Hi. No I don't invest in CGP therefore I couldn't give a flying feck about their origins TBO. :)
Funny world though eh? CGP opened the ENSA door just a fraction, all those years ago and Solg rob their entire household!

Steve@1035
CGP addy: https://ceo.ca/cgp

FNJY: Waiting for godot - about a day ago - Rogermellie saying he loves Trump. This latest post obviously disagrees.
Z

Iceberg@0734.
The best clarification I have come across thus far - thank you.
I was looking at term sheets and agreements going way back to 2012 and nothing as clear as your explanation.
I wasn't aware that CGP owned 100% of ensa to start with!! And now they find themselves in this situation owing Solg approx $60m already for work done towards the DFS. (I agree this will be paid out of royalties, but it is still owed).
Can I copy and paste your post over on CGP, because they are still confused?
Z

Smickster, I gather you copy and pasted your post from the CGP site - yes?
Z

SP Just snuck in!
Have a peaceful and stress free weekend folks, see you next week with the popcorn!
Z

SP Just snuck in!
Have a peaceful and stress free weekend folks, see you next week with the popcorn!
Z

Red - I do believe NM made the bid to buy time. Once the bid was in progress, I think I am right in assuming no-one else could bid??
This would then support NM's comments that Solg would be better placed and more streamlined if they owneed 100% ENSA.
IF anyone buys CGP, they would have to pay a premium on their NPV and also pay back the current debt owed to Solg (I believe it is circa $60Million) in pre production costs together with 15% of the build costs which are currently circa $3Bn.
Rather an expensive way of obtaining 7% of Solg, eh?
Why would anyone bid??
But, as they say.....truth is stranger than fiction.

Will they now wither on the vine going fwd?

Meanwhile.................
----------------------------------
"...On October 19th, the Court will be examining evidence concerning whether or not mining should be allowable within Los Cedros"
Mining company Cornerstone Capital Resources continues to explore within the Reserve, without the appropriate permits, despite overwhelming opposition in the region, and in direct contravention of Protective Measures granted by the Provincial Court of Imbabura in June 2019."
---------------------
Z

They are and have always been in denial. They continue to moan that there is no news at all from the BoD. They are hanging their hats on BHP taking an interest as of next Monday (brakes off).
I have wished them well.
Z

From @pob:
I understand that Solgold will be interviewed by Crux next week (takes a few further days to be made available to non-members). Interesting timing!

https://twitter.com/CruxInvestor/status/1317088538626752514

Afternoon Miagi...hope all is well...
As an aside, could you (or someone else) explain in layperson terms what/why the DGR activity means to us solgolders please? Is it a side show?

Best
Z